The National Bank of Ukraine launches a process of disseminating statistical data on interest rates on outstanding loans and deposits that will be published in the “Statistics” section on the NBU's official website and in the Bulletin of the National Bank of Ukraine.
Presently, the National Bank of Ukraine compiles and disseminates statistical data on interest rates that deposit-taking corporations apply to loans provided during the period under report (new loans) and interest rates on deposits attracted during the period under report (new deposits).
In accordance with the international statistical standards and practices observed by the national central banks of the EU Member States, the National Bank of Ukraine has taken steps to ensure the compilation of statistical data on interest rates that deposit-taking corporations apply to outstanding deposits and loans. In particular, based on the statistical reporting of banks, the National Bank of Ukraine has prepared data on interest rates on outstanding deposits held by non-financial corporations and households and interest rates on outstanding loans to non-financial corporations and households. The data are broken down by maturity and currency.
The outstanding amounts refer to the stock of all deposits placed by households and non-financial corporations with deposit-taking corporations and the stock of all loans provided to households and non-financial corporations.
Interest rates on outstanding amounts as a snapshot of end-month observations are calculated as weighted averages of the interest rates applied to the stock of deposits and loans at a certain point in time on the last day of the month.
Interest rates on outstanding deposits cover all deposits placed and not yet withdrawn by customers in all the periods up to and including the reporting date. Interest rates on outstanding loans cover all loans used and not yet repaid by customers in all the periods up to and including the reporting date. Unlike monthly weighted averages of the interest rates on new deposits and loans, interest rates set by deposit-taking corporations on outstanding amounts as at the end of the month include only those agreements that are valid at the moment when the data are being collected.
Statistics on interest rates applied by deposit-taking corporations to outstanding amounts are required to carry out analysis of the monetary transmission mechanism. Firstly, interest rate statistics provide an opportunity to study the effects of the pass-through of changes in policy rates (via market rates) to retail bank interest rates on loans to and deposits from non-financial corporations and households. Secondly, changes in interest rates applied by deposit-taking corporations to outstanding amounts have an impact on the cost of capital and the investment decision making process. Thirdly, statistics on interest rates applied by deposit-taking corporations to outstanding amounts provide information on interest rates paid and earned by non-financial corporations and households. This makes it possible to analyze changes in the disposal income and interest payment burden of these sectors. Data on interest rates paid and earned provide an opportunity to investigate changes in interest rate spreads, which are linked to deposit-taking corporations' (banks) profitability and their return on assets.
Therefore, statistics on interest rates applied by deposit-taking corporations to outstanding amounts make it possible to monitor the structural changes in the banking and financial sector and carry out a qualitative analysis of cetain financial stability issues.