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Interest Rates (INT)

The data on Interest Rates (INT), processed and published according to the methodology defined with the International Monetary Fund (IMF), represent the average interest rates on time deposits and loans to customers within the San Marino banking system. These data are included in the "6SR" statistical model, part of the Monetary and Financial Statistics (MFS) transmitted monthly to the IMF.

The INT statistics provide the following quarterly data:

Deposit Rate: the average rate charged on time deposits. This is calculated as the ratio of quarterly interest received to the average amount of term deposits.

Lending Rate: the average rate charged on customer loans. This is calculated as the ratio of quarterly interest income from customer loans to the average amount of gross loans. Since December 2017, the average lending rate has been calculated as the ratio of quarterly interest income from customers to the average of loans net of accrued interest. Prior to this change, the rate was calculated based on the average of loans gross of accrued interest.