Interest rates statistics
This section contains harmonised time series data of interest rates. The last period data are alëays preliminary.
Interest rate statistics compiled based on the regulation no. 48/2017 “Reporting of interest rates statistics at Bank of Albania” of Bank of Albania
MFI interest rates statistics are divided into tw main parts
- Interest rates on amounts outstanding (Table 1.1- 2.3)
- Interest rates on new business. (Table 3.1 - 3.3)
Amounts outstanding are defined as the stock of all deposits placed by customers with a bank and the stock of all loans granted by bank to customers at certain point in time (the last day of a month). The rates on amounts outstanding thus reflect the actually applied interest rates to these stocks.
New business is defined as any new agreement between a bank and its client on a deposit or loan. All financial contracts, terms and conditions that specify for the first time the interest rate of the deposit or loan as well as all new negotiations of existing deposits and loans during the reference period (a month) are covered. Active involvement of the customer in the negotiations is crucial to new business definition (i.e. automatic prolongation of a contract, changes in floating rates etc. are not new business). Interest rates on new business thus reflect the rates of all new agreements arranged during the month.
In the case of specific indicators – overnight deposits, deposits redeemable at notice, bank overdrafts, revolving loans and credit card loans – the concept of new business is extended to the whole outstanding amount.