Net interest income of households and firms

Gabe de Bondt, Georgi Krustev, Michal Slavík and Mika Tujula

Economic Bulletin Boxes, 2024, vol. 8

Abstract: This box analyses recent developments in the net interest income of households and firms in the euro area as a whole and in the largest euro area countries, against the backdrop of rising interest rates. Net interest income is a direct channel through which the ECB transmits policy rate changes to savers and borrowers. Over the last decade net interest income has been negative for households and firms at the aggregate sectoral level. Interest-bearing assets, which affect the interest received by households and firms, and liabilities, which affect interest paid, are important drivers of developments in net interest income. Individual countries demonstrate striking differences in net interest income and interest-bearing assets and liabilities, largely due to specific structural factors. JEL Classification: E01, E43, E52

Keywords: firms; households; Net interest income; rising interest rates (search for similar items in EconPapers)
Date: 2024-01
Note: 337418
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