Bank Lending Survey

Since January 2003, euro area central banks conduct a quarterly Bank Lending Survey across a representative sample of euro area banks. The BCL is responsible for the Luxembourg part of the survey, which concerns seven local banks.

Senior loan officers at these banks answer a qualitative questionnaire collecting harmonized information on developments in their lending policies. In particular, the survey contains questions on credit supply (credit standards as well as credit terms and conditions) and on credit demand. Thus, the survey complements existing statistics on bank loans and bank lending rates. The survey covers several loan categories, including loans to firms (distinguishing small and medium-sized enterprises from larger ones) and loans to households (distinguishing loans for house purchase from other bank lending).

The information collected provides a better evaluation of bank lending conditions at both national and euro area level and contributes to better orienting monetary policy decisions. In the context of the financial crisis, the survey was used to gather additional information on the impact of the crisis and of Eurosystem monetary policy measures on banks’ funding situation and on bank lending conditions.

The Luxembourg results of the survey are analyzed and disseminated through BCL publications, namely its Bulletin and Financial Stability Review.