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Economic news
09.04.2024

Credit standards were broadly unchanged in the first quarter - ECB survey

The ECB's quarterly bank lending survey, which provides information on bank lending conditions in the eurozone, showed that euro area banks reported a small net tightening of their credit standards for loans or credit lines to enterprises in the first quarter of 2024 (net percentage of banks of 3%), which was less than banks had expected in the previous round (9%). The April survey round was conducted between 29 February and 15 March 2024. A total of 157 banks were surveyed in this round, with a response rate of 100%.


  • Banks, for the first time since the fourth quarter of 2021, reported a moderate net easing of their credit standards for loans to households for house purchase (net percentage of -6%), whereas credit standards for consumer credit and other lending to households tightened further (net percentage of 9%). 

  • For the second quarter of 2024, banks expect moderate net tightening for loans to firms and unchanged credit standards for loans to households.

  • Banks’ overall terms and conditions – i.e. the actual terms and conditions agreed in loan contracts –remained broadly unchanged for loans to firms, while they eased for housing loans and tightened for consumer credit.

  • Banks reported a further substantial decline in demand from firms for loans or drawing of credit lines and a small decline in demand for housing loans, while demand for consumer credit and other lending to households was reported as broadly stable in the first quarter

  • Banks are expecting a moderate net decrease in demand for loans to firms and a net increase in demand for loans to households in the second quarter of 2024.

  • Access to funding improved for debt securities and, to a lesser extent, for money markets, while access to retail funding deteriorated in the first quarter of 2024.

  • Euro area banks reported a further markedly positive impact of the ECB’s key interest rate decisions on their net interest margins over the past six months, although the cumulative impact is expected to diminish over the next six months.

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