Banking and financial markets

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.


About the statistics


Name and topic

Name: Interest rates in banks and other financial enterprises
Topic: Banking and financial markets

Responsible division

Division for Financial Markets Statistics

Definitions of the main concepts and variables


includes the institutional sector's local government administration, private and public non-financial enterprises and households etc.

Interest on loans : Includes the financial institutions' weighted average interest rates and commissions on loans to the public, see also 3.6.



Interest on deposits




Includes the financial institutions'total of weighted average interest rates on deposits by the public.






Interest margin:

The interest margin in the banks is calculated as the difference between the average interest rates on loans to, and average interest rate on deposits from the public. The interest margin on deposits is the difference between 3 months effective NIBOR interest on the last working day of the quarter and the average interest rate level on deposits from the general public. The interest rate margin on lending is the difference between the average interest rate on loans to the public and the 3-month effective NIBOR rate.


Includes commission linked to credit loans granted, utilization commission and current administration fees. Non-recurring commissions, set-up fees and instalment fees are not included in the interest statistics.




Standard classifications

There are two types of classifications in the interest statistics; type and sector:

Loan and deposit types:

Average interest and commission rates classified by loan and deposit, as well as associated stock figures. The loan types cover the following:

Credit loans

Of this secured on dwellings

Of this other overdrafts, working capital facility and consumer credit

Of this building loans

Repayment loans

Of this secured on dwellings

Of this other loans

Deposit on transaction accounts

Other deposits


Borrowers and lenders are roughly classified by institutional sector classification, based on the national accounts standard.

The sector definitions in this statistics were altered from the 1 st quarter of 2012. This may influence the time series due to sector movements.

Administrative information

Regional level

National level only

Frequency and timeliness

Quarterly. Published two months after the statistics quarter.

International reporting

The IMF and BIS.


Published in Norwegian and English


Background and purpose

The interest rate statistics are used in the following areas, amongst others:

Financial stability

Monetary policy


International reporting

General public

Annual data for interest on deposits is available from 1955, quarterly data for interest on deposits and loans is available from the 4 th quarter of 1979. For the period from the 4th quarter of 1979 to the 1st quarter of 1986, the interest rates for loans (including non-performing loans) and interest on deposits in banks, are estimated by combining the data from the annual interest rate statistics that provided average interest rates at the end of each year, with data from the quarterly interest rate statistics, which gave the highest and lowest rates on new loans. From the 2 nd quarter of 1986, the source was Norges Bank’s quarterly interest rate statistics, with exceptions for the 4 th quarter of 1986 and the 4 th quarter of 1987, when the data were taken from the annual interest rate statistics.

The statistics were transferred from Norges Bank to Statistics Norway on 1 January 2007.

Users and applications

Not relevant

Coherence with other statistics

Not relevant

Legal authority

The interest rate statistics are collected under the provisions of the Act on the supervision of credit institutions, insurance companies and securities trading, etc. of 7 December 1956 no. 1 (the Financial Supervision Act). Reports from state lending institutions are obtained under the provisions of the Act concerning official statistics and Statistics Norway of 16 June 1989 no. 54 (the Statistics Act).

EEA reference

Not relevant



The statistics cover weighted average interest rates including commissions and associated amounts on loans to the general public from banks, credit enterprises, state lending institutions and life insurance companies and weighted average interest rates and associated amounts on deposits in banks by the general public in NOK.

Data sources and sampling

The financial market statistics (ORBOF report 11, items 25 and 26) except The Norwegian Public Service Pension Fund that reports on excel spreadsheet.

The interest rate statistics are based on a total count.

Collection of data, editing and estimations

The majority of the data for the interest rate statistics is based on data that is transferred from the ORBOF systems each quarter. Data from spreadsheets is also collected from The Norwegian Public Service Pension Fund.

Automatic controls are carried out in the ORBOF system that list major changes from the previous quarter, and checks are made as to whether these agree with the reports 10 and 11. The control also shows extreme values for interest rates. In addition, the routine checks whether both interest and amounts have been reported on associated items. These are controls that are run upon receipt of ORBOF data, and which are automatically returned to the reporting party if there is a discrepancy in the controls.

Weighted average interest and commission rates are an average of interest and current commissions weighted with the associated loan/deposit amounts.

All average interest and commission rates are calculated at the end of the quarter and reported as annual rates as a percentage per annum from the 2 nd quarter of 1986.


The interest data is not published if less than three units form the basis for a cell in the table.

Comparability over time and space

Revisions and changes in the coding can lead to breaks in the time series.

From the third quarter of 2013 non-performing loans are excluded in the calculation of interest rates.

Accuracy and reliability

Sources of error and uncertainty

The sources of error for the interest statistics are mainly errors in the data that is reported to the financial market statistics. Processing errors can also occur.