Background
A general description of the MFI interest rate statistics is available in PDF format:
download.
The
legal requirements for MFI interest rate statistics are laid down in
Regulation ECB/2001/18, which defines the statistical standards according to which monetary financial institutions must report their interest rate statistics. This Regulation is complemented by the “Manual on MFI interest rate statistics” (
download), which further clarifies and illustrates those statistical requirements. Regulation ECB/2001/18 was amended by
Regulation ECB/2009/7, which provides for a number of improvements in respect of the reporting scheme for new loans to households and non-financial corporations.
The MFI interest rate statistics refer to the interest rates individually agreed between a credit institution or other institution and its customer. They are converted to an annual basis taking into account the frequency of interest payments and are quoted in percentages per annum. At the euro area level, 101 interest rate indicators with the corresponding volumes are collected, of which 87 refer to new business and 14 to outstanding amounts.
New business is defined as any new agreement between the household or non-financial corporation
and the credit or other institution. New agreements comprise all financial contracts, the
terms and conditions of which specify for the first time the interest rate on the deposit or
loan, and all new negotiations of existing deposits and loans. The prolongation of existing
deposit and loan contracts which are carried out automatically, i.e. without any active
involvement of the household or non-financial corporation, and which do not involve any
renegotiating of the terms and conditions of the contracts, including the interest rate, are
not considered as new business.
Outstanding amounts are defined as the stock of all deposits placed by households and non-financial
corporations with credit or other institutions and the stock of all loans granted by credit or other institutions to
households and non-financial corporations.
More detailed information on national MFI interest rate statistics can be obtained from the relevant
national central banks.
Overview of relevant documents
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Regulation ECB/2009/7 amending Regulation ECB/2001/18 concerning statistics on interest rates applied by monetary financial institutions to deposints and loans vis-à-vis households and non-financial corporations
download
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Regulation ECB/2001/18 concerning statistics on interest rates applied by monetary financial institutions to deposits and loans vis-à-vis households and non-financial corporations:
download
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Manual on MFI interest rate statistics:
download
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Short general description of MFI interest rate statistics:
download
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