lv
Updated: 02.09.2019

Key indicators of interest rate statistics

 

Interest rate on the main refinancing operations


With effect from

Main refinancing operations

 16.03.2016.

 0.00

 

Latvijas Banka's refinancing rate (until December 2013)

Interest rate on the main refinancing operations of the ECB (as of January 2014)

The most significant of the ECB key interest rates is the interest rate on the main refinancing operations. Decisions on interest rates are taken by the ECB Governing Council.

Main refinancing operations are weekly liquidity-providing operations executed through fixed and variable rate tenders. Usually, the maturity of those operations is one week. At fixed rate tenders, the interest rate on the central bank money is specified in advance in accordance with the monetary policy stance. Variable rate tenders are organised based on a minimum bid rate serving as the lowest limit for the price of the central bank money. Main refinancing operations have a pivotal role in achieving the objectives of the Eurosystem's market operations and they are the largest refinancing source for the banking sector.

Related topics

Meetings of the ECB's Governing Council

ECB monetary policy decisions

Monetary policy instruments

Related links

Schedules for the meetings of the Governing Council and General Council of the ECB and related press conferences

http://www.ecb.europa.eu/events/calendar/mgcgc/html/index.en.html

Weighted average interest rates

Interest rates in the domestic interbank market

Table 23a Interest Rates in the Domestic Interbank Market
(data from I/1994 until VII/2019)

Long-term interest rates for convergence assessment purposes

Long-term interest rates for convergence assessment purposes for European Union (EU) Member States relate to interest rates for long-term government bonds denominated in euro for euro area EU Member States and in national currencies for EU Member States that have not adopted the euro at the time of publication.

Long-term interest rates of all European Union member states are published by the European Central Bank on a monthly basis.

Descriptions

The table "Key interest rate statistics" provides interbank interest rates as well as weighted average interest rates on transactions of monetary financial institutions (MFIs) with resident households and non-financial corporations. Interbank interest rates are provided for loans granted in euro and foreign currencies of different maturities: overnight; up to 1 month; 1-3 months; and over 3 months. Weighted average interest rates on transactions of MFIs with resident households and non-financial corporations are reported for loans, time deposits and demand deposits, with further breakdown in MFI transactions with non-financial corporations and households, as well as transactions in euro and foreign currencies. The Bank of Latvia is the source for these indicators.

The table "Weighted average interest rates on transactions of monetary financial institutions with resident non-financial corporations and households" reports data collected on new business (contracts) and outstanding amounts. Data on deposits received and loans granted in euro and US dollars by monetary financial institutions (MFI) are broken down by maturity and sector. Weighted average interest rates on loans to resident non-financial corporations with up to 1 year initial rate fixation and  original maturity of over 1 year are shown separately. Loans granted are also reported by type of loans, separately indicating loans with collateral or guarantee. Interest rate statistics, which  is collected in accordance with the Bank of Latvia's Regulation (No 133) of 16 May 2014 "Regulation for Compiling Interest Rate Reports of Monetary Financial Institutions", comprises statistical data of MFIs registered in the Republic of Latvia, i.e., of credit institutions, branches of foreign credit institutions and credit unions. Compilation of interest rate statistics is provided for in ECB Regulation No ECB/2013/34 concerning statistics on interest rates applied by monetary financial institutions to deposits and loans vis-à-vis households and non-financial corporations (until 1 January 2015, Regulation ECB/2001/18). Data are updated on a monthly basis.

The table "Volumes of new business and renegotiated loans in MFI transactions with resident non-financial corporations and households (euro transactions)" reports data on new business (contracts) carried out in euro. Loans are broken down by are broken down by type and sector. In breakdown by type of loan, new loans and renegotiated loans are shown separately. Interest rate statistics, which is collected in accordance with the Bank of Latvia's Regulation (No 133 of 16 May 2014 "Regulation for Compiling Interest Rate Reports of Monetary Financial Institutions", comprises statistical data of MFIs registered in the Republic of Latvia, i.e., of credit institutions, branches of foreign credit institutions and credit unions. Compilation of interest rate statistics is provided for in ECB Regulation No ECB/2013/34 concerning statistics on interest rates applied by monetary financial institutions to deposits and loans vis-à-vis households and non-financial corporations (until 1 January 2015, Regulation ECB/2001/18). Data are updated on a monthly basis.

The table "Interest rates on loans in the domestic interbank market" provides weighted average interest rates on loans granted by banks to other MFIs and other financial intermediaries in the euro and foreign currency by maturity. Data are collected in accordance with the Bank of Latvia's Regulation (No 102) of 16 May 2013 "Regulation for Compiling the "Report on Money Market Transactions". Data are updated on a monthly basis.