The April 2026 data for the statistics on interest rates applied by monetary financial institutions reflect the effect of the application of Circular 1/2025.
The amendment to Rule 52 of Circular 4/2017, introduced by Circular 1/2025 (BOE of December 29, 2025), incorporates the category “advances other than loans,” defined as short-term financial assets that do not accrue interest and carry negligible credit risk, including interest-free payroll and pension advances. Consequently, this item is no longer included in the “Loans to households—other lending” category and is now recorded under “Other assets.” The effect is concentrated in “Outstanding amounts of loans to households for consumption and other purposes.”
In terms of amounts, the reclassification—amounting to approximately €10 billion—reduces the outstanding balance, with the decrease concentrated in the short-term segment, as shown in columns 5 and 6 of the table “Outstanding amounts. Loans to households and NPISHs and non-financial corporations. Credit institutions and credit financial intermediaries” (table 19.16
).
In terms of interest rates, the removal of a volume of non-interest-bearing loans raises both the weighted average rate and the rate for the residual maturity band of up to one year, as shown in columns 6 and 7 of the table “Interest Rates (TEDR) on Outstanding Amounts. Loans to households and NPISHs. Credit institutions and credit financial intermediaries (table 19.8).
New business is not affected, as these advances were not included in their reporting.