Euro Area Mfi Interest Rate Statistics: February 2013

(PresseBox) ( Frankfurt am Main, )
In February 2013 the euro area composite interest rate for loans to both non-financial corporations and households remained broadly unchanged whereas the ones for deposits from both non-financial corporations and households decreased.

Most significant MFI interest rates on new business loans to, and deposits from, non-financial corporations:

February 2013 saw mixed developments in the cost of new borrowing by non-financial corporations both for small loans and for loans of over € 1 million. For example, the interest rate on new loans over € 1 million with a floating rate and an initial rate fixation period of up to three months decreased by 7 basis points from the previous month to stand at 2.02%. The corresponding rate for new loans of the same size with an initial rate fixation period of over ten years increased by 13 basis points to stand at 3.15%. The month-on-month increase was driven by the weight effect which accounted for 15 basis points of the change. In the case of new loans up to € 250,000 with a floating rate and an initial rate fixation period of up to three months, the average rate charged remained basically unchanged at 4.69%. As regards new deposit agreements, the interest rate on deposits from non-financial corporations with an agreed maturity of up to one year fell by 7 basis points to stand at 1.05% in February 2013 (having stood at 1.12% in January 2013).

Most significant MFI interest rates on new business loans to sole proprietors and unincorporated partnerships:

The interest rate on new loans to sole proprietors and unincorporated partnerships with a floating rate or an initial rate fixation period of up to one year remained basically unchanged at 3.16%.

Most significant MFI interest rates on new business loans to, and deposits from, households:

In February 2013 the interest rate on new loans to households for consumption with a floating rate and an initial rate fixation period of up to one year rose by 12 basis points to stand at 5.85%. In the same period, the cost of new borrowing by households with regard to housing loans remained unchanged. The interest rate on loans for house purchases with a floating rate and an initial rate fixation period of up to one year remained unchanged at 2.86%. Furthermore, the interest rate on loans with an initial rate fixation period of over ten years remained unchanged at 3.35% in February 2013.

Rates agreed on new deposits from households decreased. The interest rate on deposits with an agreed maturity of up to one year fell by 17 basis points to stand at 2.44%. Finally, the interest rate on deposits redeemable at three months' notice fell by 14 basis points to stand at 1.39% in February 2013.
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