Financial News: Loan Demand From Eurozone Households Rise For First

Loan Demand From Eurozone Households Rise For First Time Since 2022: ECB Survey

07/16/2024 - 08:26:00 (RTTNews)

(RTTNews) - Demand for housing loans as well as consumer credit increased in the second quarter for the first time since 2022 on improving housing market prospects, consumer sentiment and spending on durable goods, survey data from the European Central Bank showed Tuesday.

The latest quarterly bank lending survey results showed that demand from euro area firms for loans continued to decline due to higher interest rates and lower fixed investment.

However, demand for housing loans and demand for consumer credit and other lending to households increased for the first time since 2022.

Lenders expect demand to increase across all loan segments in the third quarter.

Further, the survey showed that credit standards for loans to enterprises were tightened slightly, while there was a moderate net easing of credit standards for loans to households for house purchase.

Banks' risk tolerance was the main factor behind the net tightening for loans to firms, while competition contributed to an easing of credit standards for housing loans.

For the third quarter, banks expect a moderate net tightening for loans to firms and unchanged credit standards for loans to households.

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