The Riksbank's survey of average lending and deposit rates

Bank lending rates were lowered on average in the 3rd quarter by 0.1 percentage point to a level of 7.0 per cent, while the average deposit rate was unchanged at 2.3 per cent. The difference between average bank lending and deposit rates at the end of the 3rd quarter was 4.7 percentage points. These figures come from the Riksbank's survey of the average lending and deposit rates of banks and housing intermediaries on 30th September 1997.

Interest setting by house mortgage institutions in the third quarter was such that the average rate for the total stock of loans moved down 0.3 percentage points to 8.3 per cent. Since March 1996, when housing institutions were first included in these surveys, their average overall lending rate has fallen 2.3 percentage points.

For all loans from banks and housing institutions combined, the weighted average rate at end September was 7.9 per cent, which means that since the turn of 1996 the average interest cost for the non-bank public had decreased by 0.9 percentage points. The loan stock in question constitutes 82 per cent of the credit institutions' total stock of domestic currency loans to the non-bank public.

Copies of the survey are available at the Riksbank's entrances at 11 Brunke-bergstorg and 7 Malmskillnadsgatan. They can also be ordered from the Information Centre; e-mail address: inf@riksbank.se; telephone: +46 8 787 01 00; fax no.: +46 8 787 05 26. For further information please apply to the Financial Statistics Department: Enar Olofsson, telephone: +46 8 787 01 38 orKristina Löfstrand, telephone: +46 8 787 05 62.