The Bank Lending Survey for the Euro Area

91 Pages Posted: 16 Nov 2005

See all articles by Jesper Berg

Jesper Berg

National Bank of Denmark

Adrian A. R. J. M. van Rixtel

European Central Bank (ECB)

Annalisa Ferrando

European Central Bank (ECB)

Gabe de Bondt

European Central Bank (ECB)

Silvia Scopel

European Central Bank (ECB)

Date Written: February 2005

Abstract

This occasional paper explains why the bank lending survey was developed by the ECB and describes its main features. It discusses the importance of credit developments for both the economy and the functioning of monetary policy, and further clarifies why the survey was introduced. Furthermore, the paper demonstrates that the value added of implementing a bank lending survey for the euro area lies in particular in the way it provides greater insight into developments in credit standards, non-interest rate credit conditions and terms, the risk perception of banks and the willingness of banks to lend. Credit standards are the internal guidelines or criteria of a bank which reflect the bank's loan policy. The terms and conditions of a loan refer to the specific obligations agreed upon by the lender and the borrower. This occasional paper also considers similar surveys conducted by the Federal Reserve System in the US and by the Bank of Japan.

Keywords: Survey, Banks, Credit Standards, Credit Markets, European Central Bank, Federal Reserve, Bank of Japan

JEL Classification: E43, E51, G21

Suggested Citation

Berg, Jesper and van Rixtel, Adrian A.R.J.M. and Ferrando, Annalisa and de Bondt, Gabe and Scopel, Silvia, The Bank Lending Survey for the Euro Area (February 2005). ECB Occasional Paper No. 23, Available at SSRN: https://ssrn.com/abstract=752072 or http://dx.doi.org/10.2139/ssrn.752072

Jesper Berg (Contact Author)

National Bank of Denmark ( email )

Havnegade 5
DK-1093 Copenhagen K
Denmark

Adrian A.R.J.M. van Rixtel

European Central Bank (ECB) ( email )

Sonnemannstrasse 22
Frankfurt am Main, 60314
Germany

Annalisa Ferrando

European Central Bank (ECB) ( email )

Sonnemannstrasse 22
Frankfurt am Main, 60314
Germany

Gabe De Bondt

European Central Bank (ECB) ( email )

Eurotower
Kaiserstrasse 29
D-60311 Frankfurt am Main
Germany
+49 69 13440 (Phone)
+44 69 1344 6000 (Fax)

Silvia Scopel

European Central Bank (ECB) ( email )

Sonnemannstrasse 22
Frankfurt am Main, 60314
Germany

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