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MNI BRIEF: Bank Credit Standards "Broadly Unchanged" In Q1-ECB

(MNI) LONDON
(MNI) London

ECB Bank Lending Survey points to modest tightening of credit standards in Q1, with corporate loan demand slowing.

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Credit standards across the eurozone were 'broadly unchanged' in the first quarter of 2024, though loan demand from firms declined despite expectations of recovery, the latest ECB Bank Lending Survey showed.

The "ongoing central bank balance sheet reduction continued to exert tightening pressure", with banks reporting a small net tightening of credit standards, the ECB said. For the first time since Q4 2021, banks reported a moderate net easing of their credit standards for loans to households for house purchases (net -6%), whereas credit standards for consumer credit and other lending to households tightened further (net 9%).

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Credit standards across the eurozone were 'broadly unchanged' in the first quarter of 2024, though loan demand from firms declined despite expectations of recovery, the latest ECB Bank Lending Survey showed.

The "ongoing central bank balance sheet reduction continued to exert tightening pressure", with banks reporting a small net tightening of credit standards, the ECB said. For the first time since Q4 2021, banks reported a moderate net easing of their credit standards for loans to households for house purchases (net -6%), whereas credit standards for consumer credit and other lending to households tightened further (net 9%).

Keep reading...Show less