–BOE: Q3 Corporate Credit Available Net 7.8% vs 7.1% in Q2
–BOE: Q3 Corporate Credit Availabe Next 3m Net 3.4% vs 6.5% Q2
–BOE: Q3 Secured Household Credit Available Net 8.3% vs 6.3% Q2
–BOE: Secured Household Credit Available Next 3m -3.9% vs -11.4% Q2
–BOE: Q3 Unsecured Household Credit Available Net 3.5% vs -0.6% Q2
–BOE: Q3 Unsecured Household Credit Available Next 3m Net 15.0%

London (MNI) – Corporate credit availability nudged higher in the
three months to early September but is expected to slow in the next
three months, and household credit demand declined, according to the
Bank of England’s Q3 survey of lenders.

The BOE’s Credit Conditions survey shows corporate credit
availability expanded markedly in the second half of last year and on
into the first quarter of this year, but the pace of expansion is
clearly slowing.

The net balance of those saying corporate credit availability
increased over the past three months stood at 7.8% in Q3, up a little
from 7.1% in Q2 and the seventh consecutive net increase.

The rise in corporate credit availability, however, was well below
the 21.9% seen in Q1 and the peak of 24.8% in Q3 last year. A net 3.4%
of lenders expected corporate credit availability to rise over the next
three months, down from 6.5% in Q2 and the lowest outturn since Q4 2008.

The survey found there was a larger increase in corporate credit
availability for small rather than larger companies.

For households, lenders reported a fall in demand for mortgage
lending and a drop in demand for credit card lending.

The data are compatible with slowing seen in housing market
activity. Secured household credit availability is expected to decline a
little on balance in the next 3 months, with a net 3.9% of lenders
expecting it to fall, down from a net 11.4% expecting a fall in the Q2
survey.

The actual availability of secured credit to households rose a
little in the three months into September, with a net 8.3% of lenders
reporting a rise.

The BOE survey was conducted between Aug 13 and Sep 3.

–London newsroom: tel+44 207 862 7491; email: drobinson@marketnews.com

[TOPICS: M$B$$$,M$$BE$,MABPR$,MT$$$$]