Demand for consumer credit has risen

Frankfurt / Main – The interest of private households in Germany in consumer credit has continued to rise as a result of low interest rates. This is announced by the Bundesbank on Wednesday in Frankfurt.

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However, the increase was less dynamic in the second quarter than at the beginning of the year. The standards for housing loans remained unchanged, but they were eased somewhat for consumer loans.

Compared to the previous quarter, corporate demand hardly changed on the bottom line, as the survey on lending among German banks revealed. Larger companies asked for slightly less credit, while the interest of small and medium-sized enterprises rose slightly.

For the third quarter of 2014, the surveyed banks want to slightly relax the standards in the corporate business, and no significant changes are planned for loans to private households.

From the point of view of the German banks, the euro sovereign debt crisis had very little impact on the refinancing conditions in the second quarter and had no consequences for the credit supply policy, as the survey shows.

For the first time since the second quarter of 2007, the financial institutions eased the standards for the allocation of corporate loans in the euro area. However, corporate demand hardly changed, according to a European Central Bank (ECB) survey of financial institutions. Consumer interest in loans, on the other hand, rose more sharply than at the end of 2010.

 

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