159776
statistikk
2014-08-27T10:00:00.000Z
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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Interest rates in banks and other financial enterprisesQ2 2014

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Falling interest rates

Following a decline in the three previous quarters, interest rates on loans from banks and mortgage companies continued to fall in the second quarter of 2014.

Interest rates and margins from financial corporations. General public1
2nd quarter 2014 1st quarter 2014
1Due to changes in specifications applied from 3rd quarter 2013, the time series are not directly comparable to previous periods.
Interest rates including commissions on loans
Banks 4.63 4.72
Mortgage comanies 3.60 3.70
State lending institutions 2.51 2.52
Life insurance companies 3.24 3.27
Financial corporations, total 4.06 4.14
The Norwegian Public Service Pension Fund 2.75 2.75
 
Interest rates on deposits
Banks 2.10 2.26
 
Margins
Banks and mortgage companies. Loans margin 2.41 2.52
Banks. Interest rate margin 2.53 2.46
Banks. Deposits margin -0.31 -0.49
Figure 1. Banks and mortgage companies. Interest rate on loans, by sector
Figure 2. Banks. Interest rate on deposits, by sector
Figure 3. Banks and mortgage companies' interest rate on housing loans and NIBOR
Figure 1. Banks and mortgage companies. Interest rate on loans, by sectorFigure 2. Banks. Interest rate on deposits, by sectorFigure 3. Banks and mortgage companies' interest rate on housing loans and NIBOR

The average interest rate on loans from banks and mortgage companies fell 0.09 percentage points in the second quarter of 2014, to 4.20 per cent. Banks and mortgage companies’ interest rate on loans to households fell 0.15 percentage points in the second quarter to 4.29 per cent, while the interest rate on loans to private non-financial corporations was unchanged at 4.47 per cent in the same period.

Decrease in interest rate on bank deposits

The banks’ interest rate on deposits fell 0.16 percentage points in the second quarter of 2014 to 2.10 per cent. The interest rate on deposits from households fell 0.24 percentage points to 2.19 per cent in the second quarter of 2014. The interest rate on deposits from private non-financial corporations fell 0.06 percentage points in the same period to 1.80 per cent.

The banks’ interest margin increased by 0.07 percentage points in the second quarter to 2.53 percentage points.

Reduced margins on housing loans

The loan margin on repayment loans secured on dwellings in banks and mortgage companies fell 0.15 percentage points to 2.17 percentage points in the second quarter of 2014. In the same period, the loan margin on credit lines secured in dwellings in banks and mortgage companies was 2.10 percentage points; a decrease of 0.19 percentage points from the end of the first quarter of 2014.

The interest rate on repayment loans secured in dwellings in banks and mortgage companies fell 0.13 percentage points to 3.96 per cent in the second quarter of 2014. The interest rate on credit lines secured in dwellings in banks and mortgage companies fell 0.17 percentage points to 3.89 per cent in the same period.

About the statistics Open and readClose

At the end of the second quarter of 2014, the interest rate statistics include data from 137 banks, 27 mortgage companies, 6 life insurance companies, 3 state lending institutions and the Norwegian Public Service Pension Fund (SPK). The share of loans from banks, mortgage companies, state lending institutions and life insurance companies was 53, 37, 7 and 1 per cent respectively (excluding the SPK) of total loans.

The state lending institutions include the Norwegian State Housing Bank, the Norwegian State Educational Loan Fund (Lånekassen) and Innovation Norway. The interest rates on loans from Lånekassen, the Norwegian State Housing Bank and the Norwegian Public Service Pension Fund are determined on the basis of the interest rates on government bonds and treasury bills.