The Central Bank of Cyprus has today released the MFIs interest rates statistics for the reference month of August 2013, which are included in the September 2013 edition of Monetary and Financial Statistics.
During this reference month significant loan restructuring regarding loans to non-financial corporations by certain MFIs was observed. The restructuring concerns an increase of the repayment period of loans with a parallel change in the interest rate. As a result, the weighted average interest rates of “new loans to non-financial corporations” categories showed decreases. Finally, it should be noted that loan restructuring is classified as new loans in the methodology of the European Central Bank.