The Eurosystem has developed a survey of bank lending in the euro area. The main objective of the survey is to enhance the Eurosystem's knowledge of financing conditions in the euro area and hence to help the Governing Council of the ECB to assess monetary and economic developments as an input into monetary policy decisions. It is designed to complement existing statistics on retail bank interest rates and credit with information on supply and demand conditions in the euro area credit markets and the lending policies of euro area banks. The survey addresses issues such as credit standards for approving loans as well as credit terms and conditions applied to enterprises and households. It also asks for an assessment of the conditions affecting credit demand.
The survey is addressed to senior loan officers of a representative sample of euro area banks and will be conducted four times a year. The sample group participating in the survey comprises around 90 banks from all euro area countries, and takes into account the characteristics of their respective national banking structures.
The October 2012 bank lending survey was conducted between 20 September and 9 October 2012. With 131 euro area banks participating in the survey, the response rate was 100 per cent.
The results reported in the October 2012 survey relate to changes in the third quarter of 2012 and to expectations of changes in the fourth quarter of 2012. Two ad hoc questions were included in the questionnaire for the October 2012 survey: one question addressing the impact of the financial turmoil on access to retail and wholesale funding, and one on the impact of the sovereign debt crisis on banks’ funding conditions and credit standards.
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