Bank lending survey 2008 H2

The survey’s results of credit activity for the second half of 2008 reveal a tightening of credit standards. The net tightening of credit standards was higher compared with the expected net tightening in the previous survey round, according to the opinions provided by the banks’ experts. Based on the current survey’s results, the borrowing appeared more difficult for households than for businesses (net balances -61% and -56%, respectively). As regards the loans to household, the net tightening was higher for consumer credit than for house purchase. The credit conditions were tightened almost at the same amount regarding both the large corporations and the small & medium sized enterprises, characterised by a more visible tightening of the loan for long-term investments purposes.