In the second quarter of 2011, the criteria for the disbursement of loans to companies recorded a tightening, especially with regard to large companies, both due to the greater credit risk perceived, and to the cost of funding and the budget constraints of the banks. This is what the Bank of Italy points out in its July bank lending survey. "Such tightening - explains the study, however - would have resulted in an increase in the margins applied to the riskiest loans, and not in constraints on the quantities disbursed".
The comparison between the responses of Italian banks and those of banks in the euro area shows, for loans to businesses, a more marked tightening of credit policies in our country, due to the increase in perceived risk.
As regards the criteria for supplying loans to households for the purchase of homes, these remained unchanged, while those for consumer credit and other loans recorded a slight tightening.
According to what was reported by the banks, the growth in the demand for loans from businesses and households would have continued at a slower pace than the previous quarter. The banks interviewed also reported a deterioration in the conditions for accessing wholesale funding sources.
