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Euro Area MFI Interest Rate Statistics: June 2008
added: 2008-08-06

In June 2008 most of the average MFI interest rates on new deposits and new loans in the euro area were higher than in the preceding month.

MFI interest rates on new business: in June 2008 the weighted average rate on deposits from households with an agreed maturity of up to one year increased by 11 basis points to 4.43%, while the corresponding deposit rate for non-financial corporations remained basically unchanged at 4.28%. The weighted average rate on deposits from households redeemable at up to three months’ notice remained basically unchanged at 2.74%.

The interest rate on housing loans to households at a floating rate or with an initial rate fixation period of up to one year increased by 13 basis points to 5.47%. The corresponding rate on loans with an initial rate fixation period of more than five years and up to ten years increased by 9 basis points to 5.07%. The weighted average rate on loans to households for consumption purposes, with an initial rate
fixation period of over one and up to five years, decreased by 10 basis points to 6.91% in June 2008.

In the case of loans to non-financial corporations at a floating rate or with an initial rate fixation period of up to one year, the weighted average rate increased in June by 6 basis points, to 6.16%, for loans up to EUR 1 million and increased by 8 basis points, to 5.35%, 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 period of more than five years increased by 10 basis points to 5.48%.

MFI interest rates on outstanding amounts: in June 2008 the weighted average interest rate on outstanding amounts of deposits from households with an agreed maturity of up to two years increased by 7 basis points to 4.20%. The corresponding rate on deposits with an agreed maturity of over two years remained basically unchanged at 3.08%. 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 6 basis points to 4.49% in the same month.

In June the weighted average interest rate on outstanding amounts of loans to households for house purchase with over five years’ maturity remained basically unchanged at 5.08% and the weighted average interest rate on outstanding amounts of loans to non-financial corporations with over five years’maturity increased by 7 basis points 5.39%.


Source: ECB

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