–BOE: Q3 Corporate Credit Available Net 3.9% vs 4.1% in Q2
–BOE: Q3 Corporate Credit Available Next 3m Net 2.4% vs 3.4% Q2
–BOE: Q3 Secured Household Credit Available Net 8.4% vs 2.9% Q2
–BOE Q3 Secured Household Credit Available Next 3m 6.9% vs -1.9% Q2
London (MNI) – Household credit availability increased in the third
quarter but lenders warn that tougher funding conditions could restrict
future lending.
The latest Bank of England Credit Conditions survey a slight
tightening in corporate credit availability and an easing in household
credit availability both for unsecured and secured borrowing.
Lenders reported falls in default rates for all sizes of companies
and lending spreads for larger companies were reported to have
decreased.
In the three months to early the net household secured credit
availablity balance rose to 8.4% from 2.9% in Q2 and for the next three
months the balance rose to 6.9% from -1.9%.
The recent turmoil in markets, however, may weigh on lending in
future.
“In both the household and corporate surveys, lenders pointed to
adverse wholesale funding conditions as a key factor which may constrain
future lending,” the BOE report said.
–London newsroom: tel+44 207 862 7491; email: drobinson@marketnews.com
[TOPICS: M$B$$$,M$$BE$]