Euro area bank interest rate statistics: July 2022

Composite cost-of-borrowing indicator for new loans to corporations decreased by 6 basis points to 1.77%, driven by the interest rate effect, while indicator for new loans to households for house purchase increased by 18 basis points to 2.15%, driven by the interest rate effect
Composite interest rate for new deposits with agreed maturity from corporations increased by 20 basis points to 0.11%, mainly driven by the interest rate effect, with interest rate for overnight deposits from corporations broadly unchanged at -0.01%
Composite interest rate for new deposits with agreed maturity from households increased by 9 basis points to 0.38%, mainly driven by the interest rate effect, with interest rate for overnight deposits from households unchanged at 0.01%

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, decreased, driven by the interest rate effect in July 2022. 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 42 basis points to 1.39%, mainly driven by the interest rate effect. 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 22 basis points to 1.77%, 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 decreased by 4 basis points to 2.19%, driven by both the interest rate and the weight effects. 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 6 basis points to 1.89%, 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 rose by 17 basis points to 0.01% in July 2022, mainly driven by the interest rate effect. The interest rate on overnight deposits from corporations stayed almost constant at -0.01%.
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 34 basis points to 2.49%, driven by the interest rate effect.

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, driven by the interest rate effect in July 2022. 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 15 basis points to 1.83%, driven by the interest rate effect. The rate on housing loans with an initial rate fixation period of over one and up to five years rose by 20 basis points to 2.26%, mainly 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 increased by 25 basis points to 2.53%, driven by the interest rate effect. The rate on housing loans with an initial rate fixation period of over ten years rose by 12 basis points to 1.99%, driven by the interest rate effect. In the same period the interest rate on new loans to households for consumption increased by 21 basis points to 5.78%, mainly 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 increased by 7 basis points to 0.27%, driven by the interest rate effect. The rate on deposits redeemable at three months’ notice stayed almost constant at 0.46%. The interest rate on overnight deposits from households showed no change at 0.01%.