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Interest rates on deposits 2017Dec

Published on 02/01/2018
In 2017, the remuneration of bank deposits decreased more for companies than for households
Over the past year, the average interest rate on bank deposits decreased by 10 basis points (0.67%, down from 0.77% in December 2016), driven by the lower remuneration of accounts with agreed maturity (depending on maturity, there was a decrease by -35 to -38 basis points for the households and by -23 to -32 basis points for the non-financial corporations).
In 2017, as in 2016, the decline in the interest rate paid on deposits was stronger for NFCs (decrease of 15 basis points, down from 0.46% to 0.31%) than for households (decrease of 6 basis points, down from 0.99% to 0.93%), reflecting the importance of regulated savings in households deposits.
Regarding accounts with agreed maturity, the spread between the interest rate on households deposits and NFCs deposits decreased for maturities up to 2 years (63 basis points higher for households, down from 78 basis points in December 2016), as well as for maturities over 2 years, but more slightly (20 basis points, after 23 basis points).
Interest rates on outstanding amounts of deposits in percentage and seasonally adjusted (a)

Dec- 2016 Oct- 2017 Nov- 2017 Dec- 2017
Average interest rates on bank deposits 0.77 0.68 0.68 0.67
Households 0.99 0.93 0.93 0.93
of which : - overnight deposits 0.04 0.03 0.03 0.03
- accounts with agreed maturity up to 2 years (g) (h) 1.28 0.95 0.92 0.90
- accounts with agreed maturity over 2 years (g) 2.10 1.80 1.78 1.75
- regulated savings accounts (b) 0.79 0.79 0.79 0.79
of which : passbooks A 0.75 0.75 0.75 0.75
- ordinary savings passbooks 0.34 0.29 0.29 0.29
- home savings plans 2.74 2.71 2.70 2.70
NFC 0.46 0.33 0.33 0.31
of which : - overnight deposits 0.13 0.11 0.11 0.11
- accounts with agreed maturity up to 2 years (g) 0.50 0.31 0.31 0.27
- accounts with agreed maturity over 2 years (g) 1.87 1.59 1.59 1.55
For information :
minimum bid rate in the Eurosystem tenders 0.00 0.00 0.00 0.00
3-month Euribor (c) -0.32 -0.33 -0.33 -0.33
performance of the Constant Maturity Rate of 5 years (c), (d) -0.20 -0.14 -0.21 -0.19
a. Interest rates presented here are effective rates calculated by dividing the accrued interest flows for the months under review by the monthly averages of the corresponding outstanding amounts. For the different types of deposits, including step-up deposits, they correspond to the average conditions practiced during the month under review by the French credit institutions on deposits of non-financial corporations and households (including non-profit institutions serving households) residents.
b. Regulated rates passbooks include passbooks A, blue passbooks, sustainable development passbooks, home savings plans, youth passbooks and people's savings passbooks.
c. Monthly averages.
d. 5 year Constant Maturity Rate. Source: French Bond Association.
e. Revised data.
f. Provisional data.
g. Including taxed saving books, other special saving accounts, people saving plans (PEP) and subordinated loans.
h. The decrease observed between November and December 2017 on households and NFCs term accounts with agreed maturity up to two years is partly explained by the effect of a correction of a credit institution. In the absence of this reclassification, the interest rate on term accounts with agreed maturity up to 2 years would have been 0.92% in December for households, and 0.29% for NFCs.
Source : BANQUE DE FRANCE - DIRECTION GÉNÉRALE DES STATISTIQUES
Remuneration on deposits with monetary financial institutions
Accounts with agreed maturity up to 2 years and deposits, seasonally adjusted
Livret A and Ordinary savings passbooks



In %
PEL
In %
* The regulatory formula of the rate of the PEL (home savings plans)

is the maximum of the following two terms:

- 70% 5-year swap rate + 30% (10-year swap rate - 2-year swap rate),rounded up to the nearest 1/4 percentage point,

- 1 %

Source : BANQUE DE FRANCE -DIRECTION GÉNÉRALE DES STATISTIQUES
More information on: long series, calendar, methodology

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STAT INFO - December 2017
Interest rates on bank deposits
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Published on Thursday, February 1, 2018