ECB: Banks of the euro zone continued to tighten lending rules in the IV quarter
Banks eurozone in the fourth quarter of 2009 continued to tighten lending rules, according to a report on the results of the quarterly study of bank lending (Banking Lending Survey, BLS) conducted by the European Central Bank (ECB).
report is based on survey of 118 European banks, the ECB conducted in the period from December 7 to January 8. Study is conducted on a quarterly basis. Questions contained in the study relate to three main areas of lending: loans and credit lines to enterprises, mortgage loans to individuals and consumer lending. ECB asks the banks for their consideration of the rules of credit applications and make decisions on them, lending terms and conditions for granting loans.
Thus, the requirements for borrowers in the euro area increased for the tenth consecutive quarter, the newspaper The Wall Street Journal.
The report of the ECB stresses that “banks continued to tighten lending standards, although not as dramatically as before.”
total, according to the survey, 9% of euro area banks have made the rules more stringent lending to 10% in the third quarter of 2009, while only 6% of banks have decided to simplify the requirements.
At the same time, the report of the Central Bank noted that the turning point in the practice of a tightening of credit has not yet arrived.
“offensive a turning point in the trend of tougher lending standards observed in the second half of 2007 approached, but has not yet happened,” - says the report.
banks to tighten their lending standards adversely affected, including the “costs associated with the strengthening of capital, experts believe the ECB.
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