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Euro Area MFI Interest Rate Statistics: May 2012

(PresseBox) (Frankfurt am Main, ) broadly unchanged whereas the one for deposits decreased. The euro area composite rate on loans to households for consumption increased while the one for house purchases decreased. Also showing a decrease was the euro area composite rate for deposits from households.

Most significant MFI interest rates on new business loans to, and deposits from, nonfinancial corporations:

May 2012 saw mixed developments in the cost of new borrowing by non-financial corporations both for small loans and for loans of over € 1 million. For example, the interest rate on new loans over € 1 million with a floating rate and an initial rate fixation period of up to three months remained basically unchanged at 2.37%. The corresponding rate for new loans of the same size with an initial rate fixation period of over ten years decreased by 8 basis points to stand at 3.51%. The month-on-month change was driven by the interest rate effect. In the case of new loans 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 14 basis points to stand at 4.82%. The month-on-month decrease was driven by the interest rate effect. As regards new deposit agreements, the interest rate on deposits from non-financial corporations with an agreed maturity of up to one year fell by 9 basis points to stand at 1.01% in May 2012.

Most significant MFI interest rates on new business loans to sole proprietors and unincorporated partnerships:

The interest rate on new loans to sole proprietors and unincorporated partnerships with a floating rate or an initial rate fixation period of up to one year increased by 15 basis points to stand at 3.80%. This increase was largely driven by the weight effect.

Most significant MFI interest rates on new business loans to, and deposits from, households:

In May 2012 the interest rate on new loans to households for consumption with a floating rate and an initial rate fixation period of up to one year rose by 22 basis points to stand at 5.64%. This increase was caused by both the interest rate effect and the weight effect. In the same period, the cost of new borrowing by households with regard to housing loans decreased. The interest rate on loans for house purchases with a floating rate and an initial rate fixation period of up to one year decreased by 6 basis points to stand at 3.14%. Furthermore, the interest rate on loans with an initial rate fixation period of over ten years fell by 12 basis points to stand at 3.84% in May 2012. This decrease was driven by the interest rate effect.

Rates agreed on new deposits from households saw mixed developments. The interest rate on deposits with an agreed maturity of up to one year fell by 17 basis points to stand at 2.65%. Finally, the interest rate on deposits redeemable at three months' notice remained basically unchanged at 1.74% in May 2012.