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The bank lending survey

In: CNB Financial Stability Report 2016/2017

Author

Listed:
  • Eva Hromadkova
  • Oldrich Koza
  • Petr Polak

Abstract

This article describes the bank lending survey that the CNB has been using since 2012 to gather valuable qualitative information about the bank credit market as a complement to statistical reporting. The article sets out to conduct a quantitative assessment of the survey results and to determine the roles played in new credit developments in 2012–2016 by changes in credit supply and changes in demand for loans as reported by banks in the survey. The results of the analysis indicate that although some of banks' survey responses are statistically significant in explaining the amounts of new loans reported by banks, the survey's ability to explain credit growth is currently limited. Growth in new loans for house purchase can be attributed primarily to growth in demand driven by falling interest rates. According to the results, supply and demand factors both played a role in the case of loans to non-financial corporations, consumer credit and other lending to households. However, the results of the analysis are less robust than in the case of loans for house purchase.

Suggested Citation

  • Eva Hromadkova & Oldrich Koza & Petr Polak, 2017. "The bank lending survey," Occasional Publications - Chapters in Edited Volumes, in: CNB Financial Stability Report 2016/2017, chapter 0, pages 115-124, Czech National Bank.
    • Handle: RePEc:cnb:ocpubc:fsr1617/2
    as

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    File URL: https://www.cnb.cz/export/sites/cnb/en/financial-stability/.galleries/fs_reports/fsr_2016-2017/fsr_2016-2017_article_ii.pdf
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    File URL: https://www.cnb.cz/en/financial-stability/thematic-articles-on-financial-stability/
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    Other versions of this item:

    • Eva Hromadkova & Oldrich Koza & Petr Polak & Nikol Polakova, 2018. "The Bank Lending Survey," Working Papers IES 2018/28, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Oct 2018.

    References listed on IDEAS

    as
    1. Angela Maddalonia & Jose-Luis Peydro, 2013. "Monetary Policy, macroprudential Policy, and Banking Stability: Evidence from the Euro Area," International Journal of Central Banking, International Journal of Central Banking, vol. 9(1), pages 121-169, March.
    2. de Bondt, Gabe & Maddaloni, Angela & Peydró, José-Luis & Scopel, Silvia, 2010. "The euro area Bank Lending Survey matters: empirical evidence for credit and output growth," Working Paper Series 1160, European Central Bank.
    3. Del Giovane, Paolo & Eramo, Ginette & Nobili, Andrea, 2011. "Disentangling demand and supply in credit developments: A survey-based analysis for Italy," Journal of Banking & Finance, Elsevier, vol. 35(10), pages 2719-2732, October.
    4. Bell, Venetia & Young, Garry, 2010. "Understanding the weakness of bank lending," Bank of England Quarterly Bulletin, Bank of England, vol. 50(4), pages 311-320.
    5. Bassett, William F. & Chosak, Mary Beth & Driscoll, John C. & Zakrajšek, Egon, 2014. "Changes in bank lending standards and the macroeconomy," Journal of Monetary Economics, Elsevier, vol. 62(C), pages 23-40.
    6. Bell, Venetia & Pugh, Alice, 2014. "The Bank of England Credit Conditions Survey," Bank of England working papers 515, Bank of England.
    7. Blaes, Barno, 2011. "Bank-related loan supply factors during the crisis: An analysis based on the German bank lending survey," Discussion Paper Series 1: Economic Studies 2011,31, Deutsche Bundesbank.
    8. Martin Pintaric, 2016. "What is the Effect of Credit Standards and Credit Demand on Loan Growth? Evidence from the Croatian Bank Lending Survey," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 58(3), pages 335-358, September.
    9. van der Veer, Koen J.M. & Hoeberichts, Marco M., 2016. "The level effect of bank lending standards on business lending," Journal of Banking & Finance, Elsevier, vol. 66(C), pages 79-88.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Petr Polak & Jiri Panos, 2019. "The Impact of Expectations on IFRS 9 Loan Loss Provisions," Research and Policy Notes 2019/03, Czech National Bank.

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    More about this item

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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