Interest rates applied by resident monetary and financial institutions

This statistical dataset provides monthly information on the interest rates applied by Monetary Financial Institutions (MFIs) resident in Spain - excluding the central bank and money market funds - to euro-denominated deposits and loans vis-à-vis households and non-profit institutions serving households (NPISH) and non-financial corporations resident in the euro area. The data constitute the national contribution to the Eurosystem’s MIR (MFI Interest Rates) statistics, compiled under Regulation ECB/2013/34 concerning statistics on interest rates applied by monetary financial institutions (recast, as amended by Regulation ECB/2014/30) and Guideline ECB/2014/15 on monetary and financial statistics.

The interest rates collected are those individually agreed between the institution and its customer, converted to an annual basis and quoted as percentage per annum. The dataset distinguishes two interest rate concepts: the annualised agreed rate (AAR), which excludes fees and related charges, and the annual percentage rate of charge (APRC), which includes them; the APRC is compiled in addition to the AAR for housing loans and consumer credit. Aggregate interest rates per instrument category are computed as weighted averages using the corresponding business volumes as weights. Bad loans and loans granted for debt restructuring at below-market rates are excluded.

The series distinguish between outstanding amounts (end-of-month stocks) and new business (all new agreements reached during the month, including renegotiations of existing contracts). Data are broken down by counterparty sector (households and NPISH, non-financial corporations and, in some cases, the aggregate of both sectors), by type of instrument and purpose - housing loans, consumer credit, loans for other purposes, overnight deposits, deposits with agreed maturity, repurchase agreements - and, depending on the operation, by original maturity, initial period of interest rate fixation and, for loans to non-financial corporations, by loan size.

Alongside the interest rates, expressed in percentages, the dataset includes the associated volumes - estimated total outstanding amounts and new business volumes - expressed in millions of euros. The series are published on a monthly basis.

License: Terms of Use of Banco de España Statistics

Categories: Interest rates