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Financial News: Eurozone Lenders To Ease Credit Standards In Q3:

Eurozone Lenders To Ease Credit Standards In Q3: ECB

07/24/2018 - 06:47:00 (RTTNews)

(RTTNews) - Eurozone lenders expect credit standards to ease in all loan categories in the third quarter, bank lending survey data from the European Central Bank showed Tuesday.

Due to narrowing of margins on average loans, banks' terms and conditions on new loans eased across three segments in the second quarter. Lenders expect net easing of credit standards to ease further in the third quarter.

The survey showed that demand for loans from enterprises increased in the second quarter, driven by the general level of interest rates, inventories and working capital, and M&A activity.

At the same time, increase in demand for housing loans was underpinned by low interest rates, favorable housing market prospects and consumer confidence.

Consumer confidence, spending on durable goods and the low general level of interest rates continued to contribute positively to net demand for consumer credit and other lending to households.

Further, the survey showed that tightening impact on credit standards from banks' non-performing loans is diminishing. The survey was conducted among 149 banks between June 18 and July 3.

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