The euro area bank lending survey - Third quarter of 2026 - European Central Bank

In the bank lending survey (BLS) for the third quarter of 2026, euro area banks reported a further net tightening of credit standards for loans or credit lines to firms (net percentage of banks of 9%; see Chart 1 and Overview table). [ 1 ] The October 2026 BLS was conducted between 21 September and 6 October 2026. The net tightening was slightly higher than in the second quarter (7%) and larger than expected by the banks (5%), standing slightly above the historical average (8%). Heightened risk perceptions and lower risk tolerance remained the main drivers of tighter credit standards, with some banks reporting tightening pressure stemming from geopolitical uncertainty and energy developments.