摘要：This report presents the results of the euro area bank lending survey conducted from 20 March 2009 until 3 April 2009.
The results of the April 2009 bank lending survey show that in the first quarter of 2009 the net percentage of banks reporting a tightening of credit standards on loans and credit lines to enterprises was 43%, which – while still reflecting a pronounced further net tightening – was 21 percentage points lower than in the fourth quarter of 2008. This could point to some stabilisation of the current tightening cycle. For the second quarter of 2009, the banks expect a further reduction of the overall net tightening to 28%. The most important driving forces behind the net tightening in the euro area continued to be expectations regarding general economic activity and the industry or firm-specific outlook. At the same time, the impact of banks’ cost of funds and balance sheet constraints, in particular costs related to banks’ capital positions, remained at comparatively high levels, although the importance of these factors diminished somewhat compared with the previous quarter. The net percentage of banks reporting a tightening of credit standards for loans to households for house purchase and for consumer credit likewise decreased in the first quarter of 2009. Moreover, banks expect the net tightening of credit standards on loans to households to weaken further in the second quarter of 2009. While their overall importance abated in the first quarter of 2009 compared with the previous quarter, deteriorating expectations regarding general economic activity, as well as a further worsening in housing market prospects and a decline in consumers’ creditworthiness, continued to be the most important factors contributing to the net tightening of credit standards applied to both types of household loans.
