Banking association says loans falling at slower pace

Italian businesses, consumers may resume borrowing by year-end

(ANSA) - Rome, October 14 - 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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