Euro zone banks plan to sharply tighten access to corporate credit: ECB

FRANKFURT (Reuters) – Euro zone banks plan to sharply tighten entry to company credit score within the second quarter because the struggle in Ukraine weighs on the outlook and cuts deep into their danger tolerance, a European Central Financial institution survey confirmed on Tuesday.

“Banks count on a significantly stronger web tightening of credit score requirements for loans to corporations, possible reflecting the unsure financial affect of the struggle in Ukraine and the anticipation of much less accommodative financial coverage,” the ECB stated in a quarterly lending survey.

“As well as, banks count on a average web tightening of credit score requirements for housing loans and for client credit score and different lending to households,” it added.

(Reporting by Balazs Koranyi; Enhancing by Gareth Jones)