July ECB bank lending survey, loan demand from enterprises not yet strong

The ECB's July Bank Lending Survey to show continued easing in credit lending standards, both for households and enterprises. 

Net loan demand should also continue rising for the household sector, while there is considerably more uncertainty regarding demand from enterprises given the still weak recovery in investment, high corporate debt levels and growing uncertainty in terms of the Greek situation. 

This has also been visible in loans data, where household loans, especially for home purchases, are gradually improving, while loans to the corporate sector barely moved into positive territory in May (+0.1% yoy).