Tables 3.1–3.4

The Bank of Lithuania has started to publish statistics on MFIs interest rates on loans and deposits as from 2005. Statistics on MFIs interest rates on loans and deposits replace interest rate statistics on loans and deposits that have been published by the Bank of Lithuania since December 1992 up to December 2004. Data on interest rates on loans and deposits since December 1992 up to December 2004 are posted on the Bank of Lithuania website. The coverage and definition of the new statistics differ substantially from the previously published statistics. Therefore, a direct comparison of the new and old rates is not possible. Since October 2004 up to February 2005, Tables 3.1–3.4 encompass data on commercial banks and foreign bank branches, and since March 2005 – data on MFIs.

Statistics on MFI interest rates on loans and deposits represent statistics on interest rates applied by credit institutions and other institutions (residents of Lithuania) to deposits and loans vis-à-vis households and non-financial corporations (residents of Lithuanian).

Data is provided as MFI weighted average interest rates for each category, for the calculation of which the amounts of covered activity are used as weights.

Types of interest rates:

- annualised agreed rate – is the agreed annual interest rate on loans or deposits, annualising of which depends on the frequency interest payments;

- annual percentage rate of charge comprises an interest component and a component of other charges.

In the tables, if no mentioned otherwise, annualized agreed rate is presented.

Classification of statistics on MFI loans and deposits:

- by covered activity – the interest rate on new loans, excluding overdraft, and deposits reflects the weighted average interest rate level in respect of new contracts concluded during the month, and end-of-period weighted average interest rates on outstanding amounts of loans and deposits. New contracts include all financial contracts, terms and conditions that specify for the first time the interest rate of the loans or deposits, and all new negotiations on existing loans and deposits. Extensions of existing deposit and loan contracts that are carried out automatically, i.e. without any active involvement of the household or non-financial corporation, and do not involve any renegotiation of the terms and conditions of the contract, are not considered new contracts. This also applies to prescheduled interest rate changes;

- by currency – loans and deposits in litas and euro;

- by sector – loans and deposits (except deposits redeemable at notice) of the sectors of households (including non-profit institutions serving households) and non-financial corporations;

- by instrument – overnight deposits, deposits with agreed maturity and deposits redeemable at notice, loans being classified by sector. The household sector comprises consumer credit, lending for house purchase, other lending and overdraft, and the non-financial corporations sector – loans and overdrafts;

- by loan amount – loans to non-financial corporations up to LTL 3.4528 million and loans over LTL 3.4528 million;

- by maturity – original maturity, period of notice, and initial period of interest rate fixation.

Breakdown according to original maturity is applied to newly accepted deposits with agreed maturity, and outstanding amounts of loans and deposits

Breakdown according to the period of notice is applied to deposits redeemable at notice.

Breakdown according to the initial period of interest rate fixation is applied to new loans. The initial period of interest rate fixation is a predetermined period of time at the start of a contract during which the value of the interest rate cannot change. For example, a 5-year loan with a floating interest rate, revised every 6 months, is classified under the term "Up to 1 year".

Concepts in the breakdown by instrument and concepts in instrument categories are in line with asset and liability categories established in the General Provisions of the MFI Balance Sheet Statistical Reporting Requirements and Classification Principles.

The provided data comply with the ECB requirements laid down in Regulation (EC) No 63/2002 of 20 December 2001 concerning statistics on interest rates applied by monetary financial institutions to deposits and loans vis-à-vis households and non-financial corporations (ECB/2001/18), also Manual on MFI interest rate statistics.