[PDF] Manual on MFI interest rate statistics January 2017

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Manual on

MFI interest rate statistics

January / 2017

1Aim of this Manual 7

2Scope and uses of MFI interest rate statistics 9

3Basic definitions 12

4Types of interest rate 14

5Business coverage 39

6Time reference point 68

7Instrument categories 71

8Specific instruments and national products 91

9Aggregation of the data and reporting obligations 111

10Validation rules 115

11Revision policy 121

12Selection of the reporting agents 126

13Derived indicators 148

Appendix 158

Index of terms 163

monetary policy transmission mechanism monetary analysis structural developments financial integration Table 1

Scope of analysis

Monetary transmission

Monetary analysis Financial

stability Financial

Integration

Interest rate channel Credit

channel Pass through of interest rates

Cost of

capital substitution effect Income effect External finance premium Money demand Credit demand Bank competition, bank profitability Convergence of retail interest rates and of cost of borrowing

Interest rates

on outstanding amounts 9

Interest rates

on new business resident interest rate statistics householdsnon-financial corporations non-profit institutions serving households reference reporting population reference reporting population reporting agents actual reporting population Money and Banking Statistics - Sector Manual - Guidance for the statistical classification of customers agreed annualised

Ceteris paribus

narrowly defined effective rate annual percentage rate of charge annualised agreed rate agreed

ݔ=ቀ1 +

െ1

ݔ=ቀ1 +

െ1 =ቀ1 + െ1 = 0.10381289

ݔ=ቀ1 +

െ1 =ቀ1 + െ1 = 0.10471307

ݔ=ቀ1 +

െ1 =ቀ1 + െ1 = 0.105156

ݔ=ቀ1 +

െ1 =൬1 + െ1 = 0.048809 narrowly defined effective rate Table 2 t Outstanding loan Interest rate p.a. Interest payments

Repayments

of principal Cash flow Discount factor = (1+NDER)^ (-t/365) Present value of cash flow NDER (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) 1YQ1 1YQ2 1YQ3 1YQ4 2YQ1 2YQ2 2YQ3 2YQ4 3YQ1 3YQ2 3YQ3 3YQ4 4YQ1 4YQ2 4YQ3 4YQ4 5YQ1 5YQ2 5YQ3 5YQ4 Table 3 t Outstanding loan Interest rate p.a. Interest payments

Repayments

of principal Cash flow Discount factor = (1+NDER)^ (-t/365) Present value of cash flow NDER (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) 1YQ1 1YQ2 1YQ3 1YQ4 2YQ1 2YQ2 2YQ3 2YQ4 3YQ1 3YQ2 3YQ3 3YQ4 4YQ1 4YQ2 4YQ3 4YQ4 5YQ1 5YQ2 5YQ3 5YQ4 Table 4 t Outstanding loan Interest rate p.a. Interest payments

Repayments

of principal Cash flow Discount factor = (1+NDER)^ (-t/365) Present value of cash flow NDER (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) 1Y 2Y

Question

Answer:

Table 5

Frequency of interest payments

Frequency of repayment of

principal

Monthly (.M) Quarterly (.Q) Yearly (.Y)

Table 6

Frequency of interest payments

Monthly (.M) Quarterly (.Q) Yearly (.Y)

AAR NDER AAR NDER AAR NDER

Frequency of

repayment of principal

Question

Answer:

Question:

Answer:

Question:

Answer:

ex post

Question:

Answer:

Question:

Answer:

Question:

Answer:

new business outstanding amounts

Question:

Answer:

new business outstanding amounts point of view of the reporting agent tax subsidies third favourable rates deposits

Figure

1 loans

Figure

2

Question

Answer

new business and outstanding amounts new businessoutstanding amounts regulatory arrangements

National conventions

Institutional arrangements

Specific national products

Question

Answer:

annual percentage rate of charge costs that have to be included costs excluded harmonisationsanctions harmonisation sanctions transposition other loan charges

Question:

Answer:

Question:

Answer:

these products for the purpose of MFI interest rate statistics

Question:

point of view of the customer

Answer:

point of view of the reporting agent for the purpose of MFI interest rate statistics

Question

amount

Answer:

and amount below market conditions interest rates amounts

Outstanding amounts

deposits loans actually applied overnight depositsdeposits redeemable at notice revolving loans and overdraftsconvenience and extended credit card credit, (4) revolving loans and overdraftsextended credit card credit Chart 1 t0 t1 t2 t3 t4 t5 t6 t7 t8 t9

MIR (OA) = MIR (NB)

- 2.00% 2.00% 2.17% 2.29% 2.00% 2.00% - 2.00% 2.38%

Weight (OA) =

Weight (NB) - -

- yielding 2% - - - yielding 3% - -

Question:

Answer:

ex post snapshot of end-month observations one implicit rate referring to the average of the month Chart 2 month day

Question:

Answer:

2% 3%

Chart 3 t0 t1 t2 t3 t4 t5 t6 t7 t8 t9 t10 t11 t12

MIR (OA) =

MIR (NB)

Weight (OA) =

Weight (NB)

New business

New agreements

first terms and conditions terms and conditions of a loan or deposit contract renegotiation automatically not tacit agreement

Normally

separate 1 Chart 4 t0 t1 t2 t3 t4 t5 t6

MIR (OA) - 4.00% 4.50% 5.00% 6.00% 6.00% 6.00%

Weight (OA)

MIR (NB) - 4.00% 5.00% - 6.00% - -

Weight (NB)

Question:

Answer:

active involvement roll over new business

Question:

Answer:

Ceteris paribus

outstanding amountsnew business ex ante at the time of the agreement ex post at the time the deposit is placed ex post Chart 5 t0 t1 t2 t3 t4 t5 t6 t7 t8 t9

MIR (OA) 10% 10% 10% 10% 8% 8% 8% 8% 8% 8%

Weight (OA)

MIR (NB) 10% - - - 8% - - - - -

Weight (NB)

automatically adjusts Chart 6

T0 t1 t2 t3 t4 t5 t6 t7 t8 t9

MIR (OA) 9.00% 8.02% 8.31% 6.59% 5.88% 4.76% 4.36% 5.57% 7.16% 7.75%

Weight (OA)

MIR (NB) 9.00% - - - - - - - - -

Weight (NB)

Question:

very andsignificantly

Answer:

Question:

Answer:

normally consumer creditloans to households for house purchasesloans to non-financial corporations Revolving loans and overdrafts

Umbrella contracts,

normally Chart 7 t0 t1 t2 t3 t4 t5 t6 t7 t8 t9 t10 t11 t12

MIR (OA) - 8% 8% 8% 8% 8% 8% 8% 8% 8% 8% 8% 8%

Weight (OA)

MIR (NB) 8% - - - - - - - - - - - -

Weight (NB)

new business outstanding amounts withdrawn credit interest on the amount granted but not yet withdrawn automatic not is commission de non utilisationBereitstellungszinsen

Question:

Answer:

new business lowestvalue ceteris paribus Chart 8 outstanding amounts

Question:

not

Answer:

new business outstanding amounts

Question:

Answer:

ex post

Question:

Answer:

Question:

Answer:

Question:

Answer:

Question:

Answer:

Question:

Answer:

Question

Answer:

Question:

Answer:

Question:

Answer:

Question:

Answer:

a) Sales or transfers of loans among MFIs, without the active involvement of the customer b) Transfer of loans from one MFI to another, with the active involvement of the debtor c) Transfer of loans to an MFI from another institution outside the MFI sector d) Change of the debtor of a loan

Question:

Answer:

e) Consolidation and splitting of loans f) Currency conversions

Question

Answer

snapshot of end-month observations implicit rates referring to the average of the month snapshot of end-month observations implicit rate referring to the average of the month each day directly collected derived daily daily weeklymore frequent all entire indicators outstanding amounts new business instrument categories individual productsquotesdbs_dbs47.pdfusesText_47

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