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Euro Area EUR

Euro Area ECB Bank Lending Survey

Info

History

Chart

Impact:

Low

Source: European Central Bank

Latest Release:

Date:

Actual:

Forecast:

Previous/Revision:

Period:

What Does It Measure?

The Euro Area ECB Bank Lending Survey measures the credit standards and demand for loans from households and businesses across the eurozone. It focuses on assessing loan conditions, lending practices, and borrower demand, reflecting the health of the financial sector in relation to economic growth and stability.

Frequency

This survey is released quarterly and includes both preliminary estimates and final figures, typically published on the first working day of the following month after the end of the quarter.

Why Do Traders Care?

Traders monitor this survey as it provides insights into the credit environment, which is vital for economic growth; changes in lending standards can influence consumer and business borrowing behaviors. A tightening of credit conditions can be bearish for stocks and currencies, while an increase in lending demand suggests economic optimism, potentially bullish for financial markets.

What Is It Derived From?

The ECB Bank Lending Survey is derived from responses obtained from a sample of eurozone banks, encompassing assessments of loan demand, credit standards, and terms and conditions applied to lending. The survey collects qualitative data that banks provide, which is then aggregated to generate a diffusion index reflecting the overall credit climate.

Description

This survey's preliminary report reflects early estimates and may be subject to revisions, while the final report provides a more accurate representation of lending conditions. The survey utilizes a qualitative approach that allows for real-time insight into changes in lending behavior, making it a crucial tool for economists and financial analysts to gauge the direction of the eurozone economy.

Additional Notes

This indicator is considered a leading measure of economic activity since changes in lending conditions generally precede shifts in broader economic performance. It is frequently compared with other economic indicators such as the Purchasing Managers' Index (PMI) to assess overall economic health and trends in the euro area.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Time	Actual	Forecast	Previous	Surprise
Jul 22, 2025
Apr 15, 2025
Oct 15, 2024
Jul 25, 2024
Jul 16, 2024
Apr 30, 2024
Apr 09, 2024
Jan 31, 2024
Oct 24, 2023
Feb 01, 2022
Jul 14, 2020