ECB re­port on ac­cess to fi­nance of SMES in the euro area

The Pak Banker - - Front Page -

FRANKFURT

The Euro­pean Cen­tral Bank (ECB) is to­day pub­lish­ing its seventh re­port on the re­sults of the "Sur­vey on the ac­cess to fi­nance of small and medi­um­sized en­ter­prises (SMEs) in the euro area".

This sur­vey round was con­ducted be­tween 3 Septem­ber and 11 Oc­to­ber 2012, cov­er­ing a sam­ple of 7,514 firms in the euro area.

The re­port mainly pro­vides ev­i­dence on changes in the fi­nan­cial sit­u­a­tion, fi­nanc­ing needs and ac­cess to fi­nanc­ing of SMEs in the euro area, com­pared with large firms, dur­ing the pre­ced­ing six months (i.e. from April to Septem­ber 2012).

In ad­di­tion, it pro­vides an over­view of developments in SMEs' ac­cess to fi­nance across euro area coun­tries.

At the same time, the sur­vey re­sults show that ac­cess to bank loans con­tin­ued to de­te­ri­o­rate; on bal­ance, firms re­ported a wors­en­ing in the avail­abil­ity of bank loans (-22%, com­pared with -20% in the pre­vi­ous sur­vey round). More­over, the sur­vey re­sults point to some­what higher re­jec­tion rates when ap­ply­ing for a loan (15%, up from 13%).

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