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ECB Bank Lending Survey
Friday, January 18, 2008
ECB Bank Lending Survey: Corp Credit Standards Tightened In 4Q
FRANKFURT -(Dow Jones)- Euro-zone corporate credit standards tightened at the end of the year, and will tighten further in the first quarter, though less severely, the European Central Bank said in its January bank lending survey published Friday.
"The sharp (4Q) tightening reflects the deterioration of financial market conditions since the start of the financial turmoil last summer and a worsening of banks' situation," the ECB said.
Tighter credit conditions will prevail for businesses in the first quarter, the ECB added.
"Looking ahead to the first quarter of 2008, banks expect a net tightening of credit standards applied to loans of enterprises, albeit smaller than the actual net tightening in the fourth quarter, reflecting possible longer-lasting effects of the financial turmoil," the ECB added.
A total of 89 banks from all euro-zone countries participated in the survey.
