ECB: Euro area bank interest rate statistics – February 2015
- The composite cost-of-borrowing indicator for new loans to corporations1 decreased by 8 basis points from the previous month to 2.34% in February 2015.
- The composite cost-of-borrowing indicator for new loans to households1 for house purchase remained broadly unchanged at 2.38% in February.
- In the same month, the euro area composite interest rate for new deposits from both corporations and households decreased. Bank1 interest rates on new loans to, and deposits from, euro area corporations and households (percentages per annum)
Bank interest rates for corporations
While the composite cost-of-borrowing indicator, which combines interest rates on all loans to corporations, decreased, February 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 decreased by 15 basis points from the previous month to 1.51%. This month-on-month decrease was driven by the interest rate effect which outweighed changes in the corresponding weights: 13 and 2 basis points respectively. The rate for new loans of the same size with an initial rate fixation period of over ten years increased by 16 basis points to 2.13%. 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 19 basis points to 3.56%. The month-on-month decrease 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 9 basis points to 0.34% in February 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 2.77%.
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 February 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 22 basis points to 2.09%, while the interest rate on housing loans with an initial rate fixation period of over ten years rose by 8 basis points to 2.50%. 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 4 basis points to 5.24%.
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 1.03%, while the interest rate on deposits redeemable at three months’ notice remained basically unchanged at 0.82% in February 2015.
Source: European Central Bank (ECB)
