Explanatory Memorandum to SEC(2010)754 - Charts accompanying the report on effects of directives 2006/48/ec and 2006/49/ec on the economic cycle - Main contents
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This page contains a limited version of this dossier in the EU Monitor.
| dossier | SEC(2010)754 - Charts accompanying the report on effects of directives 2006/48/ec and 2006/49/ec on the economic cycle. |
|---|---|
| source | SEC(2010)754  |
| date | 23-06-2010 |
EUROPEAN COMMISSION
Brussels, 23.6.2010
SEC(2010) 754
COMMISSION STAFF WORKING DOCUMENT
CHARTS ACCOMPANYING THE REPORT ON EFFECTS OF DIRECTIVES 2006/48/EC AND 2006/49/EC ON THE ECONOMIC CYCLE
Accompanying document to the
Report from the Commission to the Council and the European Parliament on effects of Directives 2006/48/EC and 2006/49/EC on the economic cycle
COM(2010)327 final
Chart 1: Portfolio adjustments between Q2 2008 and Q4 2008
Source: TFICF data
| Chart 2: The impact of the CRD on euro area banks’ credit standards Q1 2008 – Q2 2009 (in per cent) | Chart 3: Cross-country dispersion of the impact of the CRD on banks’ credit standards Q1 2008 – Q2 2009 (in per cent)1 |
| Source: ECB, bank lending survey | Source: ECB, bank lending survey |
Chart 4: Factors having a tightening effect on bank lending decisions, October 2008 –April 2009 (per cent of banks stating that a given factor had a somewhat or significantly tightening effect)
Sources: European Commission, EU bank questionnaire
| Chart 5: Factors2 contributing to changes in credit standards on loans to enterprises (net percentages) | Chart 6: Factors3 contributing to changes in credit standards on loans to households for house purchase (net percentages) |
| Sources: ECB, bank lending survey | Sources: ECB, bank lending survey |
| Chart 7: The financial turmoil impact on euro area banks’ capital position and lending4 (in per cent) | Chart 8: Growth of loans to households and non-financial corporations and economic activity5 (annual growth rates in per cent) |
| Source: ECB, bank lending survey | Sources: ECB |
| Chart 9: New business volumes of small6 and large-sized loans to non-financial corporations in the euro area (€ billion; 6-month moving sum) | Chart 10: Spreads between rates on small-sized and large-sized loans to non-financial corporations in the euro area (percentage points) |
| Sources: ECB and ECB calculations | Sources: ECB and ECB calculations(last observation is September 2009) |
| Chart 11: Outcome of applications for external financing by euro area SMEs (as a percentage of all firms applying for external financing) | Chart 12: External financing7 of non-financial corporations in the euro area (3-month non-centred average; flows in € billion; seasonally adjusted) |
| Source: ECB | Source: ECB |
Chart 13: Relationship between external credit ratings and capital charges
Source: Basel II framework, own calculations
1Positive percentages indicate net tightening, negative percentages indicate net easing at a country level
2The “perception-of-risk” factor includes the “industry and firm-specific outlook”, the “expectations regarding general economic activity”, and the “risk on collateral demanded”; the “competition” factor refers to competition from “other banks”, “non-banks” and “market financing” respectively; the “balance-sheet-constraints” factor includes “costs related to banks capital position”, “banks’ ability to access market financing” and “banks’ liquidity position”. The net percentages reported for the three groups of contributing factors are simple averages of the underlying factors listed above. Positive percentages indicate net tightening, negative – net easing.
3The “perception-of-risk” factor includes to the “expectations regarding general economic activity”, and “housing market prospects”; the “competition” factor refers to competition from “other banks” and from “non-banks”. The net percentages reported for the three groups of contributing factors are simple averages of the underlying factors listed above. Positive percentages indicate net tightening, negative – net easing
4December 2009 figures refer to banks expectations for the fourth quarter of 2009 (as of October 2009)
5Deflated by the GDP deflator
6“Small-sized” loans refer to loans below €1 million, while “large-sized” loans refer to loans above €1 million; last observation is September 2009
7Data are up to August 2009
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