MFI interest rates on new business : in July 2007 the weighted average rate on deposits from households with an agreed maturity of up to one year increased by 8 basis points to 3.86%, while the corresponding deposit rate for non-financial corporations increased by 8 basis points to 4.02%. In addition, the weighted average rate on deposits from households redeemable at up to three months’ notice remained basically unchanged at 2.45%.
The rate on housing loans to households at a floating rate or up to one-year initial rate fixation
increased by 7 basis points to 5.07%, while the weighted average rate on loans to households for consumption purposes with an initial rate fixation of over one and up to five years increased by 11 basis points to 6.77% in July 2007. The weighted average rate on loans for house purchase with an initial rate fixation of more than five years and up to ten years increased by 12 basis points to 5.02%.
In the case of loans to non-financial corporations at a floating rate or up to one-year initial rate fixation, in July the weighted average rate increased by 5 basis points to 5.58% for loans up to EUR 1 million and remained unchanged at 4.88% for loans above EUR 1 million. The weighted average rate on loans to non-financial corporations over EUR 1 million with an initial rate fixation of more than five years remained basically unchanged at 5.15%.
MFI interest rates on outstanding amounts : in July 2007 the weighted average interest rate on outstanding amounts of deposits from households with an agreed maturity of up to two years increased by 10 basis points to 3.49%, while the corresponding rate on deposits with an agreed maturity of over two years remained basically unchanged at 3.02%. The weighted average interest rate on outstanding amounts of deposits from non-financial corporations with an agreed maturity of up to two years increased by 5 basis points to 3.92% in the same month.
In July the weighted average interest rate on outstanding amounts of loans to households for house purchase with over five years’ maturity remained basically unchanged at 4.89% and the weighted average interest rate on outstanding amounts of loans to non-financial corporations with over five years’ maturity increased by 5 basis points to 5.01%.
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 July 2007, 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.
• 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 (www.ecb.int.
European Central Bank
Directorate Communications, Press and Information Division
Kaiserstrasse 29, D-60311 Frankfurt am Main
Tel.: +49 69 1344 7455, Fax: +49 69 1344 7404
Internet : www.ecb.int
Reproduction is permitted provided that the source is acknowledged.
The rate on housing loans to households at a floating rate or up to one-year initial rate fixation
increased by 7 basis points to 5.07%, while the weighted average rate on loans to households for consumption purposes with an initial rate fixation of over one and up to five years increased by 11 basis points to 6.77% in July 2007. The weighted average rate on loans for house purchase with an initial rate fixation of more than five years and up to ten years increased by 12 basis points to 5.02%.
In the case of loans to non-financial corporations at a floating rate or up to one-year initial rate fixation, in July the weighted average rate increased by 5 basis points to 5.58% for loans up to EUR 1 million and remained unchanged at 4.88% for loans above EUR 1 million. The weighted average rate on loans to non-financial corporations over EUR 1 million with an initial rate fixation of more than five years remained basically unchanged at 5.15%.
MFI interest rates on outstanding amounts : in July 2007 the weighted average interest rate on outstanding amounts of deposits from households with an agreed maturity of up to two years increased by 10 basis points to 3.49%, while the corresponding rate on deposits with an agreed maturity of over two years remained basically unchanged at 3.02%. The weighted average interest rate on outstanding amounts of deposits from non-financial corporations with an agreed maturity of up to two years increased by 5 basis points to 3.92% in the same month.
In July the weighted average interest rate on outstanding amounts of loans to households for house purchase with over five years’ maturity remained basically unchanged at 4.89% and the weighted average interest rate on outstanding amounts of loans to non-financial corporations with over five years’ maturity increased by 5 basis points to 5.01%.
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 July 2007, 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.
• 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 (www.ecb.int.
European Central Bank
Directorate Communications, Press and Information Division
Kaiserstrasse 29, D-60311 Frankfurt am Main
Tel.: +49 69 1344 7455, Fax: +49 69 1344 7404
Internet : www.ecb.int
Reproduction is permitted provided that the source is acknowledged.