Euro area bank interest rate statistics: March 2023

Europe

Bank interest rates for corporations

Data for cost of borrowing and deposit interest rates for corporations (Chart 1)

 

The composite cost-of-borrowing indicator, which combines interest rates on all loans to corporations, increased in March 2023, driven by the interest rate effect. 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 40 basis points to 4.08%. The rate on new loans of the same size with an initial rate fixation period of over three months and up to one year rose by 77 basis points to 4.31%, mainly driven by the interest rate effect. The interest rate on new loans of over €1 million with an initial rate fixation period of over ten years increased by 17 basis points to 3.58%. 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 rose by 31 basis points to 4.70%.
As regards new deposit agreements, the interest rate on deposits from corporations with an agreed maturity of up to one year rose by 27 basis points to 2.56% in March 2023. The interest rate on overnight deposits from corporations rose by 10 basis points to 0.41%.
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 increased by 11 basis points to 4.65%.

Data for bank interest rates for corporations (Table 1)

Bank interest rates for households

Data for cost of borrowing and deposit interest rate for households (Chart 2)

 

The composite cost-of-borrowing indicator, which combines interest rates on all loans to households for house purchase, increased in March 2023, driven by the interest rate effect. The interest rate on loans for house purchase with a floating rate and an initial rate fixation period of up to one year increased by 22 basis points to 3.88%. The rate on housing loans with an initial rate fixation period of over one and up to five years rose by 30 basis points to 3.77%. The interest rate on loans for house purchase with an initial rate fixation period of over five and up to ten years increased by 4 basis points to 3.56%, driven by both the interest rate and the weight effects. The rate on housing loans with an initial rate fixation period of over ten years rose by 20 basis points to 3.14%. In the same period the interest rate on new loans to households for consumption increased by 17 basis points to 7.28%.
As regards new deposits from households, the interest rate on deposits with an agreed maturity of up to one year increased by 23 basis points to 2.09%. The rate on deposits redeemable at three months’ notice rose by 4 basis points to 1.21%. The interest rate on overnight deposits from households remained broadly unchanged at 0.15%.

Data for bank interest rates for households (Table 2)

 

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