ECB April Bank Lending Survey - The further net tightening of bank lending

· ECB April Bank Lending Survey - The further net tightening of bank lending
criteria remained small in the April Bank Lending Survey, suggesting that for the
Euro area overall the drag from the sequential tightening of lending conditions has
eased substantially since the peak in late 2008. But, equally, there was relatively little
further improvement in the detail since the January survey. And, in addition, the
survey period (it ended on 1 April) is unlikely to have fully captured the recent
intensification of the fiscal stresses in the region and their potential impact on the
banks. This clearly warrants caution going forward.