Euro area bank interest rate statistics: May 2020

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, remained broadly unchanged in May 2020. 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 remained broadly unchanged at 1.23%. The rate for new loans of the same size with an initial rate fixation period of over three months and up to one year decreased by 6 basis points to 1.07%, mainly driven by the weight effect. The rate for new loans of over €1 million with an initial rate fixation period of over ten years increased by 18 basis points to 1.45%. This increase was due to developments in two euro area countries and was mostly driven by the interest rate effect. 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 11 basis points to 1.87%. This decrease was due to developments in two euro area countries and 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 decreased by 5 basis points to -0.13% in May 2020, driven by the interest rate effect. The interest rate on overnight deposits from corporations stayed constant at 0.00%.
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 broadly unchanged at 2.16%.

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, remained broadly unchanged in May 2020. The interest rate on housing loans with an initial rate fixation period of over ten years stayed more or less constant at 1.41%. 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 17 basis points to 1.47%. This increase was due to developments in two euro area countries and was mainly driven by weight effect. The interest rate on housing loans with an initial rate fixation period of over one and up to five years rose by 4 basis points to 1.58%, driven by the interest rate effect. The interest rate on loans for house purchase with an initial rate fixation period of over five and up to ten years also increased by 4 basis points to 1.40%, driven by the weight effect. In the same period, the interest rate on new loans to households for consumption fell by 4 basis points to 5.12%, driven by the interest rate effect.
As regards new deposits from households, the interest rate on deposits with an agreed maturity of up to one year remained broadly unchanged at 0.20% in May 2020. The interest rate on deposits redeemable at three months’ notice and on overnight deposits from households showed no change at 0.36% and at 0.02%, respectively.

Data for bank interest rates for households (Table 2)

Further information

Tables containing further breakdowns of bank interest rate statistics, including the composite cost-of-borrowing indicators for all euro area countries, are available from the ECB’s Statistical Data Warehouse. A subset is visually presented in “Our statistics” at www.euro-area-statistics.org. The full set of bank interest rate statistics for both the euro area and individual countries can be downloaded from SDW. More information, including the release calendar, is available under “Bank interest rates” in the statistics section of the ECB’s website.