EU banks ease credit lending standards

EUROPEAN banks have eased up on their credit lending criteria for the first time since January 2003.

That’s according to the latest European Central Bank survey across the Eurozone.

Its first survey was carried out in January 2003. In its commentary the ECB says the July 2004 survey shows the net percentages of banks tightening credit standards for business and housing loans ‘declined significantly in the second quarter of 2004’.