192952
statistikk
2014-11-25T10:00:00.000Z
Banking and financial markets
en
orbofrent, Interest rates in banks and other financial enterprises, interest rates, interest on loans, deposit rates, interest margins, banks, mortgage companies, state lending institutions, life insurance companies, Norwegian Public Service Pension FundFinancial institutions , Banking and financial markets
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Statistics

Archive

Interest rates in banks and other financial enterprisesQ3 2014

As from December 2014 the statistics is published with Interest rates in banks and mortgage companies.

Content

Declining interest rates on loans

As in the four previous quarters, the interest rate on loans from banks and mortgage companies fell in the third quarter of 2014.

Interest rates and margins from financial corporations. General public
3rd quarter 2014 2nd quarter 2014
Interest rates on loans
Banks 4.55 4.63
Mortgage companies 3.56 3.60
Finance companies 9.71 10.90
State lending institutions 2.29 2.51
Total (excl. The Norwegian Public Service Fund) 4.06 4.15
The Norwegian Public Service Pension Fund 2.75 2.75
 
Interest rate on deposits
Banks 2.08 2.10
 
Margins
Banks and mortgage companies. Loans margin 2.46 2.41
Banks. Interest rate margin 2.47 2.53
Banks. Deposits margin -0.40 -0.31
Figure 1. Banks and mortgage companies. Interest rate on loans, by sector
Figure 2. Banks. Interest rate on deposits, by sector
Figure 1. Banks and mortgage companies. Interest rate on loans, by sectorFigure 2. Banks. Interest rate on deposits, by sector

The interest rate on loans from banks and mortgage companies fell by 0.06 percentage points in the 3rd quarter this year, and was 4.14 per cent at the end of the 3rd quarter. The interest rate on loans to households fell by 0.04 percentage points to 4.26 per cent in the 3rd quarter, while the interest rate on loans to non-financial corporations fell by 0.12 percentage points in the same period.

The interest rate for total loans secured on dwellings fell by 0.05 percentage points in the 3rd quarter, reaching 3.9 per cent at the end of the quarter.

Increasing loan margins

NIBOR fell by 0.11 percentage points in the 3rd quarter and this led to an increase in banks and mortgage companies’ loan margins. The loan margin for total loans secured on dwellings increased by 0.07 percentage points in the 3rd quarter to 2.22 percentage points, while the total loan margin increased by 0.05 percentage points to 2.46 percentage points in the same period.

Decrease in both floating and fixed interest rates

As from the 4th quarter of 2013, Statistics Norway’s interest rate statistics now include information on floating and fixed rates. By the end of the 3rd quarter of 2014, the floating interest rate for total loans secured on dwellings from banks and mortgage companies fell by 0.04 percentage points to 3.89 per cent. The corresponding fixed interest rate also fell by 0.04 percentage points to 4.12 per cent.

Finance companies included in the interest rate statistics

As from the 4th quarter of 2013, the interest rate statistics include interest rates on loans from finance companies, while the life insurance companies were excluded from the statistics in the same period. The series for interest rates on total loans from all lenders are not directly comparable to previous periods.

The interest rate on loans from finance companies was 9.71 per cent at the end of the 3rd quarter this year, and these loans accounted for 1 per cent of the total loans in the statistics.

Changes in the statistics

As from December 2014, we will publish interest rate statistics on a monthly basis for a sample of banks and mortgage companies. The new statistics will in addition to existing specifications include interest rates on new loans and information on floating or fixed rate (and fixed rate periods). Figures for December 2013 to October 2014 will be released on 18 December. In addition to this monthly release we will publish complete census figures every quarter.