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Insights from banks and firms on euro area credit conditions: a comparison based on ECB surveys

Author

Listed:
  • Dimou, Maria
  • Ferrando, Annalisa
  • Köhler-Ulbrich, Petra
  • Rariga, Judit

Abstract

This box examines euro area credit conditions from the perspective of banks and firms. The analysis uses data from the bank lending survey and the survey on the access to finance of enterprises. By offering qualitative insights into credit supply and demand, these surveys complement hard data in analysing how monetary policy is transmitted to firms through banks. The respective survey findings confirm that the general economic outlook and firm-specific conditions are significant factors affecting credit standards and the availability of bank loans. Although the surveys evaluate bank loan demand from different angles, both surveys indicate subdued demand developments in 2024. Furthermore, the latest data for both surveys, covering the fourth quarter of 2024, signal persistently weak loan demand, despite declining interest rates, and a renewed tightening of bank credit supply to firms in the euro area. JEL Classification: E4, E44, E5, E51, E52, G21, G30

Suggested Citation

  • Dimou, Maria & Ferrando, Annalisa & Köhler-Ulbrich, Petra & Rariga, Judit, 2025. "Insights from banks and firms on euro area credit conditions: a comparison based on ECB surveys," Economic Bulletin Boxes, European Central Bank, vol. 2.
    • Handle: RePEc:ecb:ecbbox:2025:0002:7
    Note: 235236
    as

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    More about this item

    Keywords

    banks; credit conditions; firms; monetary policy transmission; Survey data;
    All these keywords.

    JEL classification:

    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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