Latest European Central Bank lending survey now published 19 July 2016
- no negative shock seen from Brexit on credit supply or demand
So what was all the big fuss about then?
- sees unchanged corp lending standards in Q3, slight easing for households
- bank margins narrowed in Q2 for housing loans, average for corp loans
- more banks reporting that TLTROs are making a positive contribution to their own profitability
- M&A activity played an important role in contributing to demand for loans to enterprises
Positive tones emerging from this but the jury's out still. Should help ECB stave off action on Thursday though.
Meanwhile EURUSD holding support around 1.1050 while EURGBP caps out at the 0.8400-05 offers/res.
