Household financial assets – cash, shares, deposits and income securities – fell by 2% in the third quarter of 2022, to 2.62 trillion euros at the end of September. Specifically, the Financial Accounts of the Spanish Economy indicate that 105 billion were volatilised in the third quarter of 2022. In year-on-year terms, they fell by 0.5 %.
The Bank of Spain explains that this decline reflects a negative revaluation of 63.3 billion that offset the net acquisition of financial assets, which amounted to 50.4 billion euros over the last year, concentrated in deposits and, to a lesser extent, in equity holdings.
The bulk of Spanish households’ financial assets remained in cash and deposits, which accounted for 41% of the total, followed by equity (29%), mutual funds (14%) and insurance and pension funds (13%).
By contrast, debt rose from 703.1 billion in September 2021 to 707.5 billion at the end of the third quarter of 2022.
