Latest ECB lending survey now published 18 Oct

  • banks see easier standards on Q4 mortgages

The wrong way round imho. One would hope businesses could borrow more easily and keep house prices capped by tighter mortgage conditions.

  • banks expect continued rise in net demand for corp loans, mortgagees, consumer credit in Q4
  • ECB depo rate has overall neg impact on banks' net interest margin
  • access to debt securities, securitisation, improved. Money market access deteoriated

Meanwhile EURUSD holding above 1.1000 still as option expiries cast a shadow.