ECB examining ways to boost lending to SMEs
“We looked at a variety of things, one of which was this ABS,” Mr Draghi said after a G7 meeting of finance chiefs in Aylesbury, over the weekend. “We’re still looking at that, it’s one of the many options. We don’t have a position, certainly, on that.”
The ECB is keen to rally lending at banks, which account for about 80% of corporate financing in the euro area, compared with less than 20% in the US. Lending to households and companies in the region contracted for an 11th month in March, and SMEs — which account for the bulk of employment in Italy and Spain — have been particular victims.
