PRESS RELEASE - 1 April 2020 - Euro area bank interest rate statistics: February 2020
The composite cost-of-borrowing indicator for new loans to corporations and for new loans to households for house purchase remained broadly unchanged in February 2020, at 1.52% and 1.41%, respectively.
In the same month, the euro area composite interest rate for new deposits with agreed maturity from corporations decreased by 6 basis points to -0.10%, driven by the interest rate effect, whereas the interest rate for overnight deposits from corporations remained broadly unchanged at 0.00%.
The euro area composite interest rate for new deposits with agreed maturity from households increased by 4 basis points to 0.36% in February 2020, whereas the interest rate for overnight deposits from households showed no change at 0.02%.
Bank interest rates for corporations
Chart 1
Bank interest rates on new loans to, and deposits from, euro area corporations
The composite cost-of-borrowing indicator, which combines interest rates on all loans to corporations, remained broadly unchanged in February 2020. 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 showed no change at 1.11%. The rate for new loans of the same size with an initial rate fixation period of over three months and up to one year remained broadly unchanged at 1.22%. The rate for new loans of the same size with an initial rate fixation period of over ten years decreased by 20 basis points to 1.27%.
This decrease was due to developments in four euro area countries and was mainly driven by the interest rate 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 decreased by 18 basis points to 1.99%. This decrease was due to developments in one euro area country and was driven by the interest rate effect.
As regards new deposit agreements, the interest rate on deposits from corporations with an agreed maturity of up to one year fell by 5 basis points to -0.13% in February 2020, driven by the interest rate effect. The interest rate on overnight deposits from corporations stayed more or less constant at 0.00%.
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 13 basis points to 2.32%. This decrease was due to developments in two euro area countries and was driven by the interest rate effect.
Table 1
Bank interest rates for corporations
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. Outstanding amounts data are derived from the ECB's monetary financial institutions balance sheet statistics.
Bank interest rates for households
Chart 2
Bank interest rates on new loans to, and deposits from, euro area households
The composite cost-of-borrowing indicator, which combines interest rates on all loans to households for house purchase, remained broadly unchanged in February 2020. 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 1.43% and at 1.54%, respectively. The interest rate on loans for house purchase with an initial rate fixation period of over five and up to ten years decreased by 5 basis points to 1.38%, mainly driven by the interest rate effect. The interest rate on housing loans with an initial rate fixation period of over ten years fell by 4 basis points to 1.36%. In the same period, the interest rate on new loans to households for consumption fell by 12 basis points to 5.56%. This decrease was due to developments in two euro area countries and was 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 increased by 7 basis points to 0.33% in February 2020, driven by both interest rate and weight effects. The interest rate on deposits redeemable at three months' notice decreased by 6 basis points to 0.36%, driven by the interest rate effect. The interest rate on overnight deposits from households showed no change at 0.02%.
Table 2
Bank interest rates for households
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.
Further information
Tables containing further breakdowns of bank interest rate statistics, including the composite cost-of-borrowing indicators for all euro area countries, are available from the ECB's Statistical Data Warehouse. A subset is visually presented in "Our statistics" at www.euro-area-statistics.org. The full set of bank interest rate statistics for both the euro area and individual countries can be downloaded from SDW. More information, including the release calendar, is available under "Bank interest rates" in the statistics section of the ECB's website.
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