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News : EU Economy Last Updated: Feb 1, 2012 - 4:45 PM

Eurozone Bank Lending Survey shows falling loan demand in Ireland and rest of Eurozone in Q4 2011
By Finfacts Team
Feb 1, 2012 - 11:42 AM

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The Central Bank today reported the Irish responses to the Eurozone Bank Lending Survey and during the final quarter of 2011, credit standards were unchanged on loans to enterprises. However, a further decrease in loan demand from enterprises was reported.  A tightening of credit standards on loans to households for house-purchases was reported for the fourth quarter of 2011 with a further tightening anticipated for the first quarter of 2012. Loan demand from households for house purchases weakened again during the final quarter of 2011.

Regarding consumer credit and other lending, credit standards were unchanged during the fourth quarter of 2011, repeating a result from the October round of the BLS. However, a further decrease in loan demand was reported. A deterioration in banks’ retail and wholesale funding was reported for the final quarter of 2011 with access to funding expected to remain broadly unchanged during the first quarter of 2012.

The ECB reports that in the Eurozone, banks were asked to report using a five point scale how the demand for loans from enterprises changed during the final quarter of 2011. A decrease in loan demand across all five loan categories examined was recorded for the final quarter of 2011, similar to the responses provided to the previous two rounds of the BLS. In turn, the drop in loan demand was entirely attributed to a reduction in the financing needs of enterprises rather than a change in the external funding patterns of businesses.

Banks were also asked to report using a five point scale how credit standards on loans to households for house purchases as well as consumer credit and other lending changed during the fourth quarter of 20111. Repeating the results from the October 2011 round of the BLS, credit standards tightened on loans to households for house purchases and were unchanged in respect of consumer lending. The tightening of credit standards in respect of mortgage lending was attributed to less favourable expectations regarding economic activity along with diminished prospects for the housing market.

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