ECB out with its July bank lending survey.

  • Consumer credit standards eased for first time since 2007
  • Company credit standards tightened in Q2 but seen tightening less in Q3
  • Loan demand declined less in Q2 than Q1
  • Sees demand for loans declining in Q3
  • Access to retail and wholesale funding improved

Overall a flat-ish report. Like with most things in Europe there’s still a way to go before credit gets back close to normality.