Interest rates in banks and other financial enterprises, Q1 2014

National level only

Quarterly. Published two months after the statistics quarter.

The IMF and BIS.

Published in Norwegian and English

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

Financial stability

Monetary policy

Research

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.

Not relevant

Not relevant

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).

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.

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.

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.

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.