Euro zone banks tighten access to credit as Iran war bites: ECB survey

Euro zone banks tightened lending standards in the three months to March and expect further tightening this quarter, according to an ECB survey. The report flags higher energy prices and funding costs tied to the war in Iran as key pressures on credit conditions. The data points to weaker loan availability for the real economy and a modestly negative backdrop for European financials and growth.

Analysis

Euro zone banks tightened lending standards in the three months to March and expect further tightening this quarter, according to an ECB survey. The report flags higher energy prices and funding costs tied to the war in Iran as key pressures on credit conditions. The data points to weaker loan availability for the real economy and a modestly negative backdrop for European financials and growth.