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Financial News: Eurozone Banks To Tighten Conditions For Housing Loans:

Eurozone Banks To Tighten Conditions For Housing Loans: ECB Survey

10/26/2021 - 05:42:00 (RTTNews)

(RTTNews) - Eurozone banks plan to tighten their conditions for housing loans further in the fourth quarter, the Bank Lending Survey from the European Central Bank showed on Tuesday.

In the fourth quarter, banks plan to tighten credit standards for loans to firms and to ease criteria slightly for consumer credit.

Lending standards for consumer credit and other lending to households remained broadly unchanged in the third quarter.

Banks' overall terms and conditions agreed in loan contracts, eased slightly for loans to firms, while they tightened for housing loans and remained broadly unchanged for consumer credit in the third quarter. There was a slight increase in firms' demand for loans or drawing of credit lines in the third quarter.

Driven by improved consumer confidence and the low general level of interest rates, demand for housing loans and for consumer credit to households increased in the third quarter. Lenders expect net demand to increase further for loans to firms and households in the fourth quarter.

Euro area banks' access to retail and wholesale funding continued to improve in the third quarter. The survey was conducted among 146 banks between September 20 and October 5.

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