... market rate DataEconometric approach11ECB Working Paper Series No. 580 January 2006 3. Description of the data Construction of bank interest rate series The data on bank interest rates ... structure, as reported in the national MIR statistics, we are able to take the characteristics of the national banking markets into account. That is, for each bank interest rate category in each country ... of market rates and bank rates. In general, bank interest rates seem to adjust most quickly in Spain, with the exception of the interest rates for mortgage loans. The reason for the apparent...