Loans to Italian business and
families continued to fall in September but at a slower pace
than the month earlier, the Italian banking association (ABI)
said in a report Tuesday.
Bank loans fell by 2.3% last month, slower than the 2.5%
fall in August and better than the low point of -4.5% hit in
November 2013, the ABI said in its monthly report.
It also said it hopes that by year-end, the situation will
improve enough that bank lending to the private sector may begin
to grow again.
In part, that is because the European Central Bank (ECB)
last month began its targeted long-term lending (TLTRO) program
to private-sector banks, giving them extremely cheap loans on
the condition that they then offer inexpensive loans to their
customers.
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