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Euro Bank Lending Survey Q3 2012

Euro Bank Lending Survey Q3 2012

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Published by economicdelusion
Euro area bank lending survey Q3 2012
Euro area bank lending survey Q3 2012

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Published by: economicdelusion on Oct 31, 2012
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10/31/2012

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THE EURO AREABANK LENDING SURVEY
3
RD
QUARTER OF 2012
OCTOBER 2012
 
 
 
© European Central Bank, 2012
 
Address
Kaiserstrasse 29, 60311 Frankfurt am Main, Germany
Postal address
Postfach 16 03 19, 60066 Frankfurt am Main, Germany
Telephone
+49 69 1344 0
Internet
http://www.ecb.europa.eu
Fax
+49 69 1344 6000
 All rights reserved. Reproduction for educational and non-commercial purposes is permitted  provided that the source is acknowledged.
ISSN 1830-5989 (online)
 
 
ECBThe euro area bank lending surveyOctober 2012
 
1
The results reported in the October 2012 bank lending survey (BLS) relate to changesduring the third quarter of 2012 and expectations of changes in the fourth quarter of 2012. The survey was conducted between 20 September and 9 October 2012. With 131banks participating, the response rate reached 100%. In this survey, two ad hoc questions were added to the regular questionnaire: onequestion addressing the impact of the financial turmoil on access to retail and wholesale funding, and one on the impact of the sovereign debt crisis on banks’ funding conditionsand credit standards.
1
 
OVERVIEW OF THE RESULTS
According to the October 2012 bank lending survey, the net tightening of credit standardsby euro area banks for loans to enterprises increased in the third quarter of 2012 (15% innet terms, up from 10% in the second quarter of 2012). For loans to households for housepurchase the net tightening was broadly stable in the third quarter of 2012 (12%, after13% in the second quarter of 2012), while the net tightening declined slightly forconsumer credit (3%, down from 7% in the second quarter of 2012). The impact of banks’cost of funds and balance sheet constraints on the net tightening of credit standards easedin the case of loans to both enterprises and households. By contrast, risk perceptionscontributed to the increase in the net tightening of credit standards on loans to enterprisesin the third quarter of 2012, while in the case of loans to households for house purchasethe impact of the general economic outlook and housing market prospects remainedbroadly unchanged.The stronger net tightening of credit standards on loans to enterprises in the third quarterof 2012 was reflected in a further widening of margins on riskier loans to enterprises(44%, up from 32% in the second quarter of 2012), whereas the remaining terms andconditions were broadly unchanged. Regarding housing loans, the net percentage of banksreporting a widening of margins on loans remained broadly unchanged in the case of average loans (14% in net terms, compared with 15% in the second quarter of 2012),while the net percentage declined slightly in the case of margins on riskier loans (19% innet terms, down from 21% in the second quarter of 2012). The small decline in the netpercentage of banks reporting a widening of margins on riskier housing loans contrastsnotably with the strong increase in the case of loans to enterprises.

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