1. INTEREST RATES ON NEW EURO-DENOMINATED DEPOSITS AND LOANS

 In November 2013, the overall weighted average interest rates on new deposits and loans decreased. The interest rate spread* between loan and deposit rates remained broadly unchanged at 3.69 percentage points (see Table 1).

 In the case of deposits, the average interest rates on overnight deposits from households and from non-financial corporations remained unchanged, in November 2013, at 0.39% and 0.41% respectively. The average interest rate on deposits from households with an agreed maturity of up to one year decreased further by 14 basis points to stand at 2.83%. The overall weighted average interest rate on all new deposits decreased by 9 basis points to stand at 1.81% in November 2013.

In the case of loans, the average interest rate on consumer loans without a defined maturity (a category which includes credit card debt, open account loans and debit balances on current accounts) decreased by 20 basis points to stand at 14.66% in November 2013. The average interest rate on consumer loans with a defined maturity, at a floating rate or with an initial rate fixation period of up to one year decreased by 19 basis points to stand at 7.32%.

The average interest rate on corporate loans without a defined maturity increased by 10 basis points to stand at 7.29%, while the corresponding rate on loans to sole proprietors decreased by 13 basis points to stand at 9.23% in November 2013. The average interest rate on corporate loans with a defined maturity at a floating rate or with an initial rate fixation period of up to one year decreased by 5 basis points to stand at 6.72% for loans up to EUR 250,000, decreased by 33 basis points to stand at 5.86% for loans above EUR 250,000 and up to EUR 1 million, and decreased by 34 basis points to stand at 5.80% for loans above EUR 1 million. Finally, the average interest rate on housing loans at a floating rate or with an initial fixation period of up to one year decreased by 10 basis points to stand at 2.75%. The overall weighted average interest rate on all new loans to households and corporations decreased by 11 basis points to stand at 5.50% in November 2013.

2. INTEREST RATES ON OUTSTANDING AMOUNTS OF EURO-DENOMINATED DEPOSITS AND LOANS

In November 2013, the overall weighted average interest rates on outstanding amounts of all deposits and loans decreased. The spread* between loan and deposit rates remained almost unchanged at 3.47 percentage points (see Table 2).

In particular, in November 2013, the average interest rate on outstanding amounts of deposits from households with an agreed maturity of up to two years decreased by 13 basis points to stand at 3.35% while the corresponding rate on deposits from non-financial corporations also decreased by 13 basis points to stand at 3.00%. The average interest rate on outstanding amounts of housing loans with over five years' maturity decreased by 8 basis points to stand at 3.04%, the corresponding rate on corporate loans decreased by 3 basis points to stand at 4.65% and the rate on loans to sole proprietors decreased by 12 basis points to stand at 5.57%.

In November 2013, the overall weighted average interest rate on the outstanding amount of all deposits (including overnight deposits) decreased by 7 basis points to stand at 2.14% while the corresponding rate on loans decreased by 6 basis points to stand at 5.61%

Table 1: Average interest rates on new euro-denominated deposits and loans

*The interest rate spread is the difference between the overall weighted average rate on all loans and the overall weighted average rate on all deposits.
**For the calculation of this average rate the overnight deposits are also taken into account.


September 2013

October 2013

November 2013

DEPOSITS

Overnight from households

0.39

0.39

0.39

Overnight from non-financial corporations

0.40

0.41

0.41

From households with an agreed maturity of up to 1 year

3.10

2.97

2.83

Overall weighted average rate on all deposits

1.96

1.90

1.81

LOANS

Consumer without a defined maturity

14.66

14.86

14.66

Corporate without a defined maturity 

7.20

7.19

7.29

To sole proprietors without a defined maturity

9.37

9.36

9.23

Consumer with a defined maturity at a floating rate or with an initial fixation period of up to 1 year

7.40

7.51

7.32

Corporate with a fixed maturity at a floating rate or with an initial fixation period of up to 1 year rate:      

-loans up to an amount of EUR 250,000

-loans above EUR 250,000 and up to EUR 1 million

-loans above EUR 1 million

6.89

6.49

5.93

6.77

6.19

6.14

6.72

5.86

5.80

Housing at a floating rate or with an initial fixation period of up to 1 year

2.93

2.85

2.75

Overall weighted average rate on all loans

5.56

5.61

5.50

Interest rate spread*

3.60

3.71

3.69



Table 2: Average interest rates on outstanding amounts of euro-denominated deposits and loans

September 2013

October 2013

November 2013

DEPOSITS

From households with an agreed maturity of up to 2 years

3.67

3.48

3.35

From non-financial corporations with  an agreed maturity of up to 2 years

3.28

3.13

3.00

Overall weighted average rate on all deposits**

2.32

2.21

2.14

LOANS

Housing with over 5 years' maturity

3.12

3.12

3.04

Corporate with over 5 years' maturity

4.65

4.68

4.65

To sole proprietors with over 5 years' maturity

5.94

5.69

5.57

Overall weighted average rate on all loans

5.69

5.67

5.61

Interest rate spread*

3.37

3.46

3.47



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