Product

Learn

Company

AKTIO coin

Euro zone credit growth rises again, despite gloomy outlook

MARKET_WATCH Economy

Bank lending to euro zone companies accelerated further in September, extending the sector's biggest borrowing binge in over a decade, despite rising interest rates and a looming recession, European Central Bank data showed on Wednesday.

 

Lending to businesses in the 19-country euro area expanded by 8.9% in September, its fastest pace since early 2009, beating an 8.8% reading a month earlier. Household credit growth meanwhile slowed to 4.4% from 4.5%, fresh data showed.

 

The monthly flow of loans to companies, however, slowed sharply, dropping to 27.3 billion euros in September from 68.2 billion euros a month earlier.

Credit growth has been robust this year even as banks tightened access to funds, partly reflecting firms’ increased need for liquidity to cover inflated energy costs.

 

But credit demand is expected to fall in the fourth quarter across all sectors as interest rates rise further, the economy enters a recession and firms claw back investments, an ECB survey showed on Tuesday.

Growth in the M3 measure of money circulating in the euro zone, meanwhile, accelerated to 6.3% from 6.1%, outpacing expectations for 6.1% in a Reuters survey.

 

 

 : Euro zone credit growth rises again, despite gloomy outlook

Join our 60k+
tribe of Akters

Have any questions?

Check our Q&A

About the AKTIO coin

Benefit fully from our ecosystem

What’s new in the App?

We’re adding new features

Customer support

support@akt.io

+353 1 574 7382

Opening hours:

Monday to Friday: 9am - 5pm CET

Company

About

AKTIO coin

Careers

Learn

News

Glossary

AKT Academy

Help

FAQ

Sitemap

System Status

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata ICO Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata Pay Ltd, Reg number 12208424 and incorporated in the United Kingdom is the registered agent of Modulr FS Limited, a company registered in England with company number 09897919, authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573). Traditional currency will be safeguarded by a licensed bank in segregated accounts in accordance with regulatory requirements.

Automata Pay Europe Limited, Reg number 69028 and incorporated in Ireland is the registered agent of Modulr FS Europe Limited, a company registered in Ireland with company number 638002, authorised and regulated by the Central Bank of Ireland as an Electronic Money Institution (Institution Code C191242). Traditional currency is safeguarded as e-money in accordance with our regulatory obligations. Traditional currency will be safeguarded by a licensed bank in segregated accounts in accordance with regulatory requirements.

Automata ICO Limited, Reg number 690280 and incorporated in Ireland has applied for a Virtual Asset Service Provider registration with the Central Bank of Ireland. Whilst the application is ongoing we are permitted to continue business as a Virtual Asset Service Provider in line with the Central Bank of Ireland's regulatory disclosure statement as required under section 106L of the CJA 2010 in relation to registered VASPS. It is important to note that a registration as a VASP is a registration for Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) purposes only. While Automata ICO Limited does have certain financial crime control obligations under this registration, cryptoasset services remain largely unregulated. The Financial Ombudsman Service or the Financial Services Compensation Scheme do not apply to the cryptoasset activities carried on by Automata ICO Limited.