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 150). Thirteen 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 April 2015, April 2018 and April 2022, 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 consisted 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 (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.
The changes to the questionnaire in April 2018 consisted solely in the addition of the option of responding "N/A (not applicable)" to each question.
The changes to the questionnaire in April 2022 consisted in a more detailed breakdown of the factors contributing to changes in credit standards for loans to households for house purchase and consumer credit, in line with the question on loans to enterprises. Further, a more detailed breakdown of the factors contributing to changes in credit terms and conditions for loans to firms was included. Finally, a breakdown into firm sizes was included for the question on the factors contributing to demand for loans to firms and for the question on the share of rejected loan applications.
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. As of April 2018 the time series, both current and those for previous surveys, are calculated using a methodology harmonized across the euro area (see Methodological note). Therefore the series published may differ slightly from those released previously, which are available for consultation in the Methodology and other material section.
Beginning in April 2014, a note that comments the main results is also included.