Euro-area banks’ net reading for access to retail funding reached 9% in the third quarter, the highest in the European Central Bank’s survey series, showing record pressure even as the central bank described conditions as moderate. The net balance climbed from 3% in Q2 and exceeded the previous peak of 7% in Q3 2023; tracking began in 2011. The ECB released the survey Oct. 27 after responses were collected from 159 banks between Sept. 21 and Oct. 6, a 100% response rate. That 9% is a net survey balance: the share of banks noting worse access minus the share noting improvement. It is not a 9% decline in deposits. Retail funding includes deposits from households and nonfinancial corporations, alongside other retail funding instruments.
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