The composite cost-of-borrowing indicator for new loans to corporations[1] decreased by 5 basis points from the previous month to 1.57% in May 2019, mainly driven by the interest rate effect.
• The composite cost-of-borrowing indicator for new loans to households for house purchase[2] remained broadly unchanged at 1.73% in May 2019.
• In the same month, the euro area composite interest rate for new deposits from corporations and for new deposits from households remained broadly unchanged at 0.12% and 0.36%, respectively.
Bank interest rates for corporations
Data for cost of borrowing and deposit interest rate for corporations
The composite cost-of-borrowing indicator, which combines interest rates on all loans to corporations, decreased in May 2019. 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 decreased by 6 basis points from the previous month to 1.10%, driven by the interest rate effect. The rate for new loans of the same size with an initial rate fixation period of over ten years decreased by 29 basis points to 1.56%. The month-on-month change was essentially due to developments in two euro area countries and it 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 remained broadly unchanged at 2.18%.
As regards new deposit agreements, the interest rate on deposits from corporations with an agreed maturity of up to one year and on overnight deposits stayed constant in May 2019, at 0.08% and 0.03%, respectively.
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 decreased by 8 basis points to 2.34%. This decrease was driven by the interest rate effect.
Data for bank interest rates for corporations
Bank interest rates for households
Data for cost of borrowing and deposit interest rate for households
The composite cost-of-borrowing indicator, which combines interest rates on all loans to households for house purchase, remained broadly unchanged in May 2019. The interest rate on loans for house purchase with a floating rate and an initial rate fixation period of up to one year and on housing loans with an initial rate fixation period of over ten years both remained broadly unchanged at 1.58% and 1.74%, respectively. In the same period, the interest rate on new loans to households for consumption rose by 11 basis points to 5.74%. The month-on-month change was essentially due to developments in two euro area countries and it was driven by both interest rate and weight effects.
As regards new deposits from households, the interest rate on deposits with an agreed maturity of up to one year and on deposits redeemable at three months’ notice remained broadly unchanged in May 2019, at 0.29% and 0.43%, respectively. The interest rate on overnight deposits from households showed no change at 0.03%.
Data for bank interest rates for households
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.
