FACTBOX - Snapshot of how ECB rate cuts have been passed on

(Reuters) - The European Central Bank is keen to ensure that its 175 basis points of interest rate cuts since October 8 have an impact on the real economy.

Below is a snapshot of some indicators showing the impact of official rate cuts.

BANK FUNDING COSTS - benchmark Euribor euro interbank lending rates have fallen sharply since the ECB started cutting rates on October 8. Three-month Euribor interest rates fixed at 2.762 percent on Wednesday, having shed 260 basis points in the last three months

- the real direct cost of funding to banks has also fallen under the ECB's policy of providing full allotment at fixed rates. Banks paid 2.5 percent for six-month funds on Wednesday, compared to an average 5.57 percent rate at the last variable-rate tender on October 8

- the spread of three-month London interbank offered rates over Overnight Index Swap rates has narrowed to close to 100 basis points, from October 7's 155 basis points.

BOND YIELDS

- interest-rate sensitive two-year Schatz yields have come down from 3.12 percent on October 7 to trade around 1.75 percent on Wednesday, a fall of 137 basis points - according to Citi's Euro Broad Investment grade Index, companies' average cost of raising funds on the market has increased in the last few months. The yield on investment-grade bonds rose from 5.695 pct in September to 6.054 percent in January as the spread over government bonds and Libor increased

BANK LENDING

- growth in loans to the private sector came to a virtual halt in November, increasing by less than 0 percent month-on-month, the slowest increase since records began in 1991