02 November 2015

ECB: Euro area bank interest rate statistics - September 2015

The composite cost-of-borrowing indicator for new loans to corporations increased to 2.22%; to households for house purchase remained broadly unchanged at 2.25%; and for new deposits from corporations increased whereas the one from households remained broadly unchanged.

Bank interest rates for corporations 

While the composite cost-of-borrowing indicator, which combines interest rates on all loans to corporations, increased, September 2015 saw mixed developments in the cost of new borrowing by corporations both for small loans of up to €250,000 and for loans of over €1 million. For example, 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 10 basis points from the previous month to 1.49%. This month-on-month change was driven by the interest rate effect. The rate for new loans of the same size with an initial rate fixation period of over ten years increased by 20 basis points to 2.37%. The month-on-month increase was 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 3 basis points to 3.21%. As regards new deposit agreements, the interest rate on deposits from corporations with an agreed maturity of up to one year stayed more or less constant at 0.25% in September 2015. 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 remained basically unchanged at 2.62%.

Bank interest rates for households

The composite cost-of-borrowing indicator, which combines interest rates on all loans to households for house purchase, remained basically unchanged in September 2015. The interest rate on loans for house purchase with a floating rate and an initial rate fixation period of up to one year decreased by 5 basis points to 2.07%, while the interest rate on housing loans with an initial rate fixation period of over ten years rose by 6 basis points to 2.39%. In the same period, 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 fell by 9 basis points to 5.20%. Rates agreed on new deposits from households remained basically unchanged. The interest rate on deposits with an agreed maturity of up to one year remained basically unchanged at 0.68%, while the interest rate on deposits redeemable at three months' notice remained unchanged at 0.67% in September 2015. 

Full press release (with charts)

© ECB - European Central Bank