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Euro Area MFI Interest Rate Statistics in September 2007
added: 2007-11-08

In September 2007 the large majority of euro area average MFI interest rates on new deposits and new loans were higher than in the previous month or basically unchanged.

MFI interest rates on new business: in September 2007 the weighted average rate on deposits from households with an agreed maturity of up to one year increased by 13 basis points to 4.06%, while the corresponding deposit rate for non-financial corporations increased by 6 basis points to 4.14%. In addition, the weighted average rate on deposits from households redeemable at up to three months’notice increased by 5 basis points to 2.58%.

The rate on housing loans to households at a floating rate or up to one-year initial rate fixation increased by 7 basis points to 5.22%, while the weighted average rate on loans to households for consumption purposes with an initial rate fixation of over one and up to five years remained basically unchanged at 6.82% in September 2007. The weighted average rate on loans for house purchase with an initial rate fixation of more than five years and up to ten years remained unchanged at 5.08%.

In the case of loans to non-financial corporations at a floating rate or up to one-year initial rate fixation, in September the weighted average rate increased by 16 basis points to 5.93% for loans up to EUR 1 million and increased by 19 basis points to 5.20% for loans above EUR 1 million. The weighted average rate on loans to non-financial corporations over EUR 1 million with an initial rate fixation of more than five years increased by 11 basis points to 5.40%.

MFI interest rates on outstanding amounts: in September 2007 the weighted average interest rate on outstanding amounts of deposits from households with an agreed maturity of up to two years increased by 10 basis points to 3.68%, while the corresponding rate on deposits with an agreed maturity of over two years remained basically unchanged at 3.05%. The weighted average interest rate on outstanding amounts of deposits from non-financial corporations with an agreed maturity of up to two years increased by 10 basis points to 4.13% in the same month.

In September the weighted average interest rate on outstanding amounts of loans to households for house purchase with over five years’ maturity increased by 4 basis points to 4.94% and the weighted average interest rate on outstanding amounts of loans to non-financial corporations with over five years’maturity increased by 8 basis points to 5.13%.


Source: ECB

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