CYPRUS: General government financial assets at €15.4 bln, liabilities at €28.4 bln

The General Government financial assets stood at EUR 15.42 bln at the end of December 2016, down from 15.94 bln at the end of the third quarter, while its financial liabilities were at 28,39 bln, down from 28.71 bln, according to figures released by the Central Bank of Cyprus.

 
The central bank’s quarterly financial accounts showed that the General Government currency and deposits amounted to EUR 9.09 bln, down from 9.62 bln at the end of the third quarter, and the debt securities in its possession stood at EUR 220 mln, almost unchanged from 221 mln in the previous quarter.
Loans granted by the Central Bank stood at EUR 1.18 bln, it held shares of EUR 4.18 bln and other financial instruments of EUR 740 mln.
As regards its financial liabilities, the General Government held currency and deposits of EUR 7.66 bln, debt securities of EUR 6.77 bln, loans of EUR 13.15 bln and other financial instruments of EUR 804 mln.
Household debt fell an annual 3.7% in December of 2016 to EUR 21.9 bln as that of non-financial corporate rose 0.5% to EUR 40.1 bln.
Compared to economic output, household debt was 122.6% at the end of December , while that of non-financial companies was 223.4%, with cumulative private sector debt standing at 346%.
The value of household financial assets was EUR 45.6 bln at the end of December, down 0.4% from the respective quarter of 2015, while that of non-financial companies rose 11% to EUR 57.8 bln. Almost two thirds of household assets were deposits and cash, 20% shares, 14% other financial means and 2% in debt securities. In the case of non-financial companies, 52% was placed in shares, 27% in other financial means, 15% in cash and deposits, 6% in loans and 0.3% in debt securities.
Insurance companies held EUR 3.6 bln in financial assets in December, investment companies EUR 2.5 bln and pension funds EUR 2.6 bln, the central bank said.