Euro area bank interest rate statistics: September 2021

Data for cost of borrowing and deposit interest rates for corporations (Chart 1)

The composite cost-of-borrowing indicator, which combines interest rates on all loans to corporations, increased, driven by the interest rate effect in September 2021. The interest rate on new loans of over €1 million with a floating rate and an initial rate fixation period of up to three months increased by 4 basis points to 1.27%, driven by the interest rate effect. The rate on new loans of the same size with an initial rate fixation period of over three months and up to one year rose by 14 basis points to 1.25%. This increase was due to developments in one euro area country and was driven by the interest rate effect. The interest rate on new loans of over €1 million with an initial rate fixation period of over ten years increased by 4 basis points to 1.26%, driven by the weight effect. In the case of new loans of up to €250,000 with a floating rate and an initial rate fixation period of up to three months, the average rate charged stayed almost constant at 1.80%.
As regards new deposit agreements, the interest rate on deposits from corporations with an agreed maturity of up to one year stayed constant at -0.36% in September 2021. The interest rate on overnight deposits from corporations stayed constant at -0.03%.
The interest rate on new loans to sole proprietors and unincorporated partnerships with a floating rate and an initial rate fixation period of up to one year decreased by 24 basis points to 1.87%. This decrease was due to developments in two euro area countries and was driven by the interest rate effect.

Data for bank interest rates for corporations (Table 1)

Bank interest rates for households

Data for cost of borrowing and deposit interest rate for households (Chart 2)

The composite cost-of-borrowing indicator, which combines interest rates on all loans to households for house purchase, remained broadly unchanged in September 2021. The interest rate on loans for house purchase with a floating rate and an initial rate fixation period of up to one year and the one on housing loans with an initial rate fixation period of over one and up to five years remained broadly unchanged at 1.32% and 1.46%, respectively. The rate on loans for house purchase with an initial rate fixation period of over five and up to ten years stayed constant at 1.25%. The interest rate on housing loans with an initial rate fixation period of over ten years remained broadly unchanged at 1.29%. In the same period the interest rate on new loans to households for consumption fell by 8 basis points to 5.26%, driven by the interest rate effect.
As regards new deposits from households, the interest rate on deposits with an agreed maturity of up to one year and the one on deposits redeemable at three months’ notice showed no change at 0.15% and 0.34%, respectively. The interest rate on overnight deposits from households stayed constant at 0.01%.

 

i.r.f. = initial rate fixation
* For this instrument category, the concept of new business is extended to the whole outstanding amounts and therefore the business volumes are not comparable with those of the other categories; deposits placed by households and corporations are allocated to the household sector. Outstanding amounts data are derived from the ECB’s monetary financial institutions balance sheet statistics.
** For this instrument category, the concept of new business is extended to the whole outstanding amounts and therefore the business volumes are not comparable with those of the other categories. Outstanding amounts data are derived from the ECB’s monetary financial institutions balance sheet statistics.

Data for bank interest rates for households (Table 2)