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Bank Lending Survey (BLS) – Q3 2015

20/10/2015 - Press Releases

Bank Lending Survey (BLS) (1, 2), – Q3 2015

Loans to non-financial corporations

In the third quarter of 2015, credit standards for loans to non-financial corporations (NFCs) tightened (see Chart 1), compared with the second quarter of 2015, in line with expectations expressed in the previous survey round. The tightening of credit standards was due to the liquidity conditions that Greek banks face, the difficulties in accessing money markets and their concerns regarding the risks emanating from the overall economic situation and the prospects of the Greek economy. Credit standards are expected to remain unchanged in the fourth quarter of 2015.

The tightening of credit standards led to stricter terms and conditions for loans to NFCs in the third quarter of 2015, compared with the previous quarter.

The demand for loans by NFCs decreased in the third quarter of 2015 (see Chart 2), despite increased needs for debt restructuring. Demand for loans by NFCs is expected to improve somewhat in the fourth quarter of 2015.

Loans to households

In the third quarter of 2015, credit standards for loans to households tightened (see Chart 1) compared with the second quarter of 2015, although the expectations expressed in the previous survey pointed to unchanged standards. As regards the expectations for the fourth quarter, credit standards are to tighten further in the case of consumer loans and remain unchanged for housing loans.

As a result of the tighter credit standards, the terms and conditions for loans to households also tightened somewhat in the same quarter.

The demand for housing loans (see Chart 2) decreased in the third quarter of 2015, while it is expected to remain at the same level in the fourth quarter of 2015. The demand for consumer credit also declined (see Chart 2), but it is expected to improve somewhat in the following quarter.

Chart 1
Credit Standards
(Average)



Chart 2
Demand (Average)



(1) For more information on the Bank Lending Survey, see
http://www.bankofgreece.gr/Pages/en/Statistics/monetary/BankLendingSurvey.aspx.
(2) Information regarding the BLS methodology is available at: http://www.bankofgreece.gr/Pages/en/Statistics/monetary/BankLendMeth.aspx.

 

 

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