Montag, 05. Dezember 2016


  • Pressemitteilung BoxID 155070

Euro area mfi interest rate statistics: february 2010

(lifePR) (Frankfurt am Main, ) In February 2010 the majority of the average MFI interest rates on new deposits remained basically unchanged, although some declined. The average MFI interest rates on new loans showed mixed developments, although some interest rates declined. The average MFI interest rates on outstanding amounts of deposits and loans showed mixed developments.

MFI interest rates on new business: in February 2010 the weighted average rate on deposits from households with an agreed maturity of up to one year remained basically unchanged at 1.75% while the corresponding deposit rate for non-financial corporations remained basically unchanged at 0.73%. The weighted average rate on deposits from households redeemable at up to three months' notice remained basically unchanged at 1.45%.

The interest rate on housing loans to households at a floating rate or with an initial rate fixation period of up to one year decreased by 4 basis points to 2.67% in February 2010. The corresponding rate on loans with an initial rate fixation period of more than five years and up to ten years decreased by 4 basis points to 4.34%. The weighted average rate on loans to households for consumption purposes, with an initial rate fixation period of over one and up to five years, decreased by 17 basis points to 6.25% in February 2010.

In the case of loans to non-financial corporations at a floating rate or with an initial rate fixation period of up to one year, the weighted average rate remained basically unchanged in February 2010, at 3.26%, for loans up to EUR 1 million and decreased by 8 basis points to 1.93%, for loans over EUR 1 million.

The weighted average rate on loans to non-financial corporations over EUR 1 million with an initial rate fixation period of more than five years decreased by 5 basis points to 3.60%.

MFI interest rates on outstanding amounts: in February 2010 the weighted average interest rate on outstanding amounts of deposits from households with an agreed maturity of up to two years decreased by 5 basis points to 2.15%. The corresponding rate on deposits with an agreed maturity of over two years remained basically unchanged at 2.83%. The weighted average interest rate on outstanding amounts of deposits from non-financial corporations with an agreed maturity of up to two years remained basically unchanged at 1.42% in the same month.

In February 2010 the weighted average interest rate on outstanding amounts of loans to households for house purchase with over five years' maturity increased by 4 basis points to 4.03% and the weighted average interest rate on outstanding amounts of loans to non-financial corporations with over five years' maturity remained basically unchanged at 3.48%.

Weighting method: the interest rates on new business are weighted by the size of the individual agreements. This is done both by the reporting agents and when computing the national and euro area averages. In addition to changes in the actual interest rates, changes in the euro area average interest rates on new business therefore reflect changes in the weights of the new business per country for the instrument categories concerned.

Notes

- In addition to the monthly euro area MFI interest rate statistics for February 2010, this press release incorporates minor revisions to the data for previous periods.
- "New business" refers to any new agreement between the customer and the MFI, while "outstanding amounts" refers to the stock of all deposits and all loans at a specific moment in time. Three instrument categories - overnight deposits, bank overdrafts and deposits redeemable at notice - form a separate group for which interest rates on new business and on outstanding amounts coincide.
- In this press release 'up to' means 'up to and including'.
- The period of initial rate fixation is any predetermined period of time at the start of a contract during which the interest rate cannot be changed.
- Unless otherwise indicated, the statistics refer to the changing composition of the euro area, i.e. they cover the EU Member States that had adopted the euro at the time to which the data relate. The statistics include Greece as of January 2001, Slovenia as of January 2007, Cyprus and Malta as of January 2008 and Slovakia as of January 2009.
- The corresponding business volumes for each of the MFI interest rate categories are shown in Tables 2 and 4 of the annex.
- More detailed information on MFI interest rate statistics, including the release calendar, is available under "MFI interest rate statistics" in the "Statistics" section of the ECB's website (http://www.ecb.europa.eu). The latest data on MFI interest rate statistics can be downloaded from the ECB's Statistical Data Warehouse (http://sdw.ecb.europa.eu/browse.do?node=2018783).

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