Bank Lending Survey (BLS)

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The survey, started in January 2003, is conducted by the national central banks of the countries that have adopted the single currency, in collaboration with the European Central Bank, and is addressed to the senior loan officers responsible for credit policies of the main banks of the euro area (around 140). Ten credit groups are involved in Italy.

The survey makes it possible to highlight the factors influencing the supply of credit and the terms and conditions for clients on the one hand, and the evolution of credit demand with the relevant determinants on the other.

The survey, revised in the first quarter of 2015, is carried out using a questionnaire with 22 multiple-choice questions, divided in two sections. The first section refers to loans granted to firms, the second to credit granted to households (for house purchase, consumer credit and other lending). The questionnaire also includes an "open" question, in which intermediaries may highlight cyclical aspects of the loans market that are not contemplated in the other questions. The senior loan officers are called upon to express their opinion on both developments in the last quarter and expectations for the next quarter.

The changes to the questionnaire in April 2015 consist in the addition of new questions, two for each category of loans, an updating of the existing questions and a revision of the Compilation Guide (now included in the survey). The new questions ask how the share of loan applications rejected has changed and what factors affect the terms and conditions of loans. An overview of the changes to the questionnaire is available in the file containing the results.

Results for Italy

This section provides quarterly time series, as of January 2003, of the diffusion index and the net percentage, based on the answers to single questions. Beginning in April 2014, a note that comments the main results is also included.

Analysis and methodology

Results for the euro area