credit conditions survey report - cenbank.gov.ng q3 ccs... · changes in spreads between bank rates...
TRANSCRIPT
Credit Conditions Survey Report
Third Quarter 2016
1
Executive Summary
Supply: The availability of secured credit to
households increased in Q3, 2016 but was
expected to decrease in the next quarter.
Changing economic outlook remained a major
factor behind the increase.
Lenders reported that the availability of
unsecured credit to households increased in Q3,
2016 and it was expected to increase further in
Q4, 2016. Lenders reported that changing
appetite for risk contributed to the change in
credit availability in Q3, 2016.
The overall availability of credit to the corporate
sector increased in Q3 2016 and was expected to
increase further in Q4, 2016. The major factors
contributing to increased credit availability were
changing economic outlook, changing liquidity
conditions and changing sector-specific risk.
Demand: Demand for secured lending for
house purchase increased in Q3, 2016, and was
expected to increase further in Q4, 2016. Due to
lenders stance in tightening the credit scoring
criteria in the current quarter, the proportion of
loan applications approved in Q3, 2016
decreased.
Demand for unsecured credit card lending and
overdraft/personal loan from households
increased in the current quarter, and was
expected to further increase in the next quarter.
In spite of the tightening in the credit scoring
criteria, the proportion of approved households
total loan applications decreased in the current
quarter and was expected to decrease further in
the next quarter.
Lenders reported increased demand for
corporate credit across all firm sizes in Q3,
2016 except the OFCs. However, lenders expect
an increase across all firm sizes in the next
quarter. Following the widen spread between
bank rates on all firms’ size businesses and MPR,
the proportion of loan applications approved for
small businesses, medium and large PNFCs
decreased in Q3, 2016.
Defaults: Secured loan performance, as
measured by default rates deteriorated in the
review quarter. However, lenders expect lower
default rates in the next quarter.
Total unsecured loan performance to
households, as measured by default rates
worsened in Q3 2016 but was expected to
improve in the next quarter.
Corporate loan performance worsened across all
firm sized business in the current quarter as
default rates and losses given default on lending
to small, medium and large PNFCs worsened in
the current quarter, and were expected to worsen
further in the next quarter.
Loan pricing: Lenders reported that the
overall spreads on secured lending rates on
approved new loans to households relative to
MPR widened in Q3 2016, and were expected to
widen further in Q4, 2016.
Lenders reported that spreads on credit card
lending widened in Q3, 2016 but were expected
to widen further in the next quarter. Similarly,
spreads on overdrafts/personal loans widened in
Q3, 2016 and were expected to widen further in
the next quarter.
Changes in spreads between bank rates and MPR
on approved new loan applications to small
businesses, medium & large PNFCs and other
financial corporations (OFCs) widen in Q3,
2016. Similarly, spreads on loans to all size
businesses, were expected to widen further in the
next quarter.
1
Credit Conditions Survey Report
Introduction
As part of its mission to maintain monetary and financial stability, the Bank needs to understand
trends and developments in credit conditions. This quarterly survey of bank lenders is an input to
this work. Lenders were asked about trends and developments in credit conditions in the current
and next quarters. The survey covers secured and unsecured lending to households, lending to
non-financial corporations, small businesses and non-bank financial firms. Along with various
data sources and discussions between the major lenders and bank staff, this survey serves as an
input into the Monetary Policy documents which presents the CBN assessment of the latest
trends in lending to the Nigerian economy.
This report presents the results of the Q3 2016 survey which was conducted from August 22nd
to
September 2nd 2016. The results are based on lenders’ own responses to the survey. They do not
necessarily reflect the Bank’s views on credit conditions. To calculate aggregate results, each
lender is assigned a score based on his response. Lenders who report that credit conditions have
changed ‘a lot’ are assigned twice the score of those who report that conditions have change ‘a
little’. These scores are then weighted by lenders’ market shares. The results are analyzed by
calculating ‘net percentage balances’ — the difference between the weighted balance of lenders
reporting that, for example, demand was higher versus lower or terms and conditions were
tighter versus looser. The net percentage balances are scaled to lie between ±100.
2
Third Quarter 2016 Credit Conditions
In Q3, 2016 relative to the previous quarter, lenders reported increase in secured and unsecured
credit availability to households, small businesses and corporate entities. Spreads on overall
secured and unsecured lending to households widened in Q3, 2016 and was expected to remain
widened in the next quarter. Lenders also reported that households’ demand for house purchase
lending, unsecured credit card lending and unsecured overdraft/personal loans all increased in
Q3, 2016 and were expected to increase in the next quarter. Demand for corporate lending in Q3,
2016 increased across all firm sizes except for OFCs and was expected to increase further in the
next quarter. Corporate loans performance to all businesses deteriorated in Q3, 2016.
Secured lending to households
In Q3 2016 relative to the previous quarter, lenders reported an increase in the availability of
secured credit to households. Lenders noted that brighter economic outlook and changing
appetite for risk were major factors behind the increase. The availability of secured credit was
however expected to decrease in the next quarter with the banks’ “market share objectives” as
the major contributory factor (Question 6).
Due to lenders stance on tightening the credit scoring criteria in Q3 2016 there was a decline in
the proportion of loan applications approved in the quarter. Though lenders expect the credit
scoring criteria to remain tightened in the next quarter, they expect the proportion of households’
loan applications approved in Q4 2016 to increase (Questions 3 & 4).
Maximum Loan to Value (LTV) ratios remained flat in the current and next quarters (Question
5c). Lenders expressed their unwillingness to lend at low LTV ratios (75% or less) in both the
current and next quarters. Similarly, they expressed unwillingness to lend at high LTV (more than
75%) in the current quarter and the next quarter (Question 10). The average credit quality on new
secured lending improved in Q3 2016 and was expected to improve further in Q4 2016 (Question
9).
Lenders reported that the overall spreads on secured lending rates to households relative to MPR
widened in Q3 2016 and was expected to further widen in the next quarter. Widened spreads
were reported for prime, buy to let and other lending in Q3 2016 and were expected to widen
further in the next quarter (Question 5a).
Households demand for lending for house purchase increased in Q3 2016 and was expected to
further increase in the next quarter. Of the total demand, increase in households demand for
prime, buy to let and other lending were reported, but were expected to decrease in the next
quarter except demand for prime lending (Question 1a).
Households demand for consumer loans, mortgage/remortgaging and small businesses rose in Q3
2016 and were expected to rise further in Q4 2016 (Questions 1b, 1c and 2).
Secured loan performance, as measured by default rates worsened in Q3 2016 and but was
expected to improve in Q4 2016. Loss given default deteriorated in the current quarter but was
expected to improve in the next quarter (Questions 7 & 8).
3
Unsecured lending to households
The availability of unsecured credit provided to households rose in the current quarter and was
expected to further rise in the next quarter. Lenders reported increased appetite for risk and
banks’ market share objectives as factors that contributed to the increase in Q3 2016 (Question
6).
Due to Lenders’ resolve to tighten the credit scoring criteria for total unsecured loan applications
in Q3 2016, the proportion of approved total loan applications for households decreased in the
quarter. Lenders expect to loosen the credit scoring criteria in the next quarter, but are still of the
opinion that the total loans applications to be approved in Q4 2016 will further decrease
(Questions 3c & 4c).
Similarly, lenders tightened the credit scoring criteria for granting credit card loan applications
and expect the proportion of approved credit card applications to decrease in Q4 2016 (Questions
3a & 4a).
Lenders resolve to tighten the credit scoring criteria in granting overdraft/personal loan
applications in the current quarter decreased the proportion of approved household’s
overdraft/personal loan applications in the current quarter (Questions 3b & 4b).
Lenders reported that spreads on credit card lending widened in Q3 2016 and was expected to
widen further in the next quarter. Similarly, spreads on unsecured overdrafts/personal loans on
approved new loan applications widened in the current quarter and was expected to widen further
in the next quarter (Questions 5a & b).
The limit on unsecured credit cards on approved new loan applications increased in Q3 2016 and
was expected to further increase in the next quarter (Question 5d). The minimum proportion of
credit card balances to be paid on approved new loan applications increased in the review
quarter, but was expected to decrease in the next quarter (Question 5e).
Maximum maturities on approved unsecured new loan applications were shortened in both the
current and next quarters (Question 5f).
Demand for unsecured credit card lending from households increased in Q3 2016 and was
expected to increase further in Q4 2016 (Question 1a). Also, demand for unsecured
overdraft/personal loans from households increased in Q3 2016 and was expected to increase in
Q4 2016 (Question 1b).
Lenders experienced lower default rate on credit card loans to households in Q3 and Q4 2016.
They expect lower default rates on overdrafts/personal lending to households in the next quarter
but have higher default rates in the current quarter (Questions 7a & b). Losses given default on
total unsecured loans to households improved in Q3 2016 and were expected to improve further
in Q4 2016 (Questions 8c).
4
Lending to corporates and small businesses
Credit conditions in the corporate sector vary by the size of business. This survey asked lenders
to report developments in the corporate sector by large and medium-size private non-financial
corporations (PNFCs), other financial corporations (OFCs) and small businesses1.
The overall availability of credit to the corporate sector increased in Q3, 2016 and was expected
to further increase in Q4, 2016 (Question 4a). The major factors contributing to the increase in
credit availability were brighter economic outlook, favorable liquidity conditions, and changing
sector specific risks (Question 4b). Lenders reported that the prevailing commercial property
prices negatively influenced credit availability of the commercial real estate sector in the current
and next quarters. Conversely, it positively influenced secured lending to PNFCs in the current
quarter and was to continue in the next quarter (Questions 4c1 and c2).
Availability of credit increased across all firm sizes in Q3, 2016 except the OFCs, the same trend
is expected in the next quarter (Question 1).
Changes in spreads between bank rates and MPR on approved new loan applications to the small
PNFCs, medium PNFCs, large PNFCs and OFCs widened in Q3 2016. Spreads for all size
business types is expected to follow the same trend in the next quarter (Questions 6a1, 6b1, 6c1
and 6d1).
Following the widened spreads, the proportion of loan applications approved for the small,
medium size and large firms decreased in the current quarter and were expected to decrease
further in the next quarter (Question 5).
Lenders required stronger loan covenants from all sized business in the current and next quarter
(Questions 6a5, 6b5, 6c5 and 6d5).
Fees/commissions on approved new loan applications were mixed across firm sizes. While fees
and commission for small businesses and OFCs fell, fees and commission for the medium and
large PNFCs rose in the current quarter (Questions 6a2, 6b2, 6c2 and 6d2).
All firm sized businesses did not benefit from an increase in maximum credit lines on approved
new loan application in Q3, 2016. Similarly, all firm sizes will not benefit from an increase in
maximum credit lines on approved new loan applications in the next quarter (Questions 6a4, 6b4,
6c4 and 6d4).
Lenders demanded more collateral requirements from all firm sizes on approved new loan
application in Q3, 2016. Similarly, lenders were expected to demand for more collateral from all
firm sizes in the next quarter (Questions 6a3, 6b3, 6c3 and 6d3)
Demand for corporate lending from small, medium & large PNFCs businesses increased in Q3
2016, they were also expected to increase in the next quarter (Question 2c, d & e). Lenders
1 Small businesses are defined as those with an annual turnover of under N5 million. Medium-size corporates are defined as those with an annual
turnover of between N5 million and N100 million. Large corporates are defined as those with an annual turnover of more than N100 million
5
reported that demand for overdrafts/personal loans from small businesses in Q3, 2016 were
higher in comparison with other business types (Question 2). The most significant factors that
influenced demand for lending in Q3, 2016 were the increase in inventory finance and capital
investment, which are also expected to remain the main drivers in the next quarter (Question 3).
Corporate loan performance as measured by the default rates deteriorated in the review quarter
and was expected to further deteriorate for all sized businesses in Q4 2016. Similarly, losses
given default on lending to all size businesses deteriorated in Q3 2016 (Questions 7 & 8).
The average credit quality on newly arranged PNFCs borrowing facilities improved in Q3 2016
and was expected to further improve in Q4 2016. The target hold levels2 associated with corporate
lending improved in Q3 2016 and was expected to improve further in Q4 2016. Also, loan tenors
on new corporate loans improved in Q3 2016 and were expected to further improve in the next
quarter. Draw down on committed lines by PNFCs deteriorated in the current quarter, and was
expected to deteriorate further in the next quarter (Question 9).
2 Share of risks that lenders wish to hold of deals that they underwrite in the short term
6
Table 1: Secured Lending to Households Questionnaire Results
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Curr
ent q
uart
er
21.9
8.3
24.3
32.8
33.4
-6.1
1.5
-15.
30.
739
.213
.1
Nex
t qua
rter
34
.121
.041
.132
.821
.726
.029
.4-3
.710
.934
.65.
3
Curr
ent q
uart
er
19.2
3.0
17.1
36.0
36.9
-5.2
6.0
5.8
0.5
39.4
13.0
Nex
t qua
rter
29
.09.
936
.342
.517
.115
.125
.913
.615
.842
.413
.2
Curr
ent q
uart
er
-5.0
-14.
88.
819
.723
.5-2
7.1
-13.
0-2
6.4
-11.
919
.82.
0
Nex
t qua
rter
22
.9-1
1.7
10.3
36.9
16.4
29.1
19.0
-19.
5-6
.135
.3-7
.3
Curr
ent q
uart
er
26.6
30.3
24.6
24.2
24.4
-13.
5-2
0.3
-28.
1-1
1.9
14.1
9.6
Nex
t qua
rter
32
.949
.535
.528
.515
.921
.916
.70.
6-6
.529
.8-4
.0
Curr
ent q
uart
er
37.0
31.6
40.4
38.5
38.8
-2.8
15.0
-1.1
18.3
48.6
21.7
Nex
t qua
rter
53
.049
.057
.547
.421
.531
.238
.411
.09.
743
.216
.2
Curr
ent q
uart
er
20.7
8.6
26.5
29.6
23.7
1.3
1.5
-22.
410
.433
.513
.5
Nex
t qua
rter
32
.314
.233
.729
.822
.320
.929
.40.
61.
733
.53.
4
Curr
ent q
uart
er
28.6
44.6
26.4
46.1
29.2
-7.7
0.5
-7.2
12.1
30.4
23.1
Nex
t qua
rter
42
.838
.134
.643
.820
.826
.128
.06.
125
.627
.530
.0
Curr
ent q
uart
er
0.3
0.0
0.0
-7.0
1.6
1.1
2.3
-24.
43.
811
.911
.9
Nex
t qua
rter
0.
3-0
.3-4
.3-4
.51.
60.
03.
1-1
1.1
0.5
12.8
10.4
Curr
ent q
uart
er
35.9
30.6
29.9
43.4
28.6
-13.
5-5
.1-4
.20.
2-5
.2-1
3.2
Nex
t qua
rter
29
.932
.429
.928
.919
.724
.923
.311
.913
.0-2
.27.
5
Curr
ent q
uart
er
6.4
5.8
7.0
0.0
1.3
0.0
-11.
4-3
.5-0
.512
.5-1
1.5
Nex
t qua
rter
-1
4.8
-1.4
-1.1
0.0
-4.7
0.0
-3.9
-3.5
4.6
0.0
-6.2
Curr
ent q
uart
er
-6.1
6.4
-0.1
-1.9
-1.7
-2.0
-16.
5-4
.0-0
.69.
6-4
.7
Nex
t qua
rter
-1
1.7
-1.5
-1.2
0.0
-5.5
0.0
-4.3
-9.2
5.0
2.6
-0.2
Curr
ent q
uart
er
7.2
6.7
9.1
0.0
0.2
-0.1
-8.8
-3.8
2.8
13.2
-3.4
Nex
t qua
rter
-1
6.5
-0.9
-0.9
0.0
-5.7
0.0
-5.0
-14.
57.
33.
1-0
.2
Curr
ent q
uart
er
9.6
13.4
8.2
0.0
0.2
-0.1
-13.
0-3
.52.
215
.1-4
.1
Nex
t qua
rter
-1
8.7
4.7
-1.3
0.0
-6.0
0.0
-9.7
-3.5
6.2
3.6
-9.2
Curr
ent q
uart
er
2.9
-0.9
-5.2
0.0
2.2
-14.
3-1
9.2
0.0
0.0
0.0
0.0
Nex
t qua
rter
4.
90.
0-4
.20.
0-4
.2-5
.1-3
.80.
00.
00.
0-7
.1
Curr
ent q
uart
er
4.4
0.0
0.0
2.7
-10.
98.
1-3
.8-1
1.4
0.0
0.0
0.0
Nex
t qua
rter
-0
.60.
0-4
.50.
0-6
.60.
0-3
.8-1
1.4
0.0
0.0
0.0
Curr
ent q
uart
er
4.0
0.5
-1.6
-4.8
0.0
-4.6
-3.8
-4.1
3.6
0.0
0.0
Nex
t qua
rter
-1
.10.
0-4
.5-2
.4-4
.5-5
.1-3
.8-2
.0-3
.00.
00.
0
2016
1(a)
. H
ow h
as d
eman
d fo
r sec
ured
lend
ing
for H
ouse
purc
hase
from
HO
USE
HO
LDS
chan
ged?
of w
hich
: Dem
and
for
prim
e le
ndin
g
QU
ESTI
ON
2014
2015
of
wh
ich
: D
eman
d fo
r bu
y to
let
lend
ing
of
wh
ich
: Dem
and
for
othe
r le
ndin
g
1(b)
. H
ow h
as d
eman
d fo
r sec
ured
lend
ing
for C
onsu
mer
Loan
s fr
om H
OU
SEH
OLD
S ch
ange
d?
1(c)
. H
ow h
as d
eman
d fo
r sec
ured
lend
ing
for
Mor
tgag
e/re
-mor
tgat
e f
rom
HO
USE
HO
LDS
chan
ged?
3. H
ow h
ave
cred
it s
cori
ng c
rete
ria
for g
rant
ing
loan
appl
icat
ions
by
HO
USE
HO
LDS
chan
ged?
5(d)
. H
ow h
ave
the
max
imum
loan
to in
com
e ra
tios
chan
ged?
2. H
ow h
as d
eman
d fo
r sec
ured
lend
ing
for s
mal
l
busi
ness
es f
rom
HO
USE
HO
LDS
chan
ged?
4. H
ow h
as th
e pr
opor
tion
of H
OU
SEH
OLD
loa
n
appl
icat
ions
bei
ng a
ppro
ved
cha
nged
? 5(
a).
How
hav
e th
e ov
eral
l sec
ured
lend
ing
spre
ads
chan
ged?
of w
hich
: Spr
eads
on
prim
e le
ndin
g
5(c)
. H
ow h
ave
the
max
imum
loan
to v
alue
rati
os
chan
ged?
of
wh
ich
: S
prea
ds o
n ot
her
lend
ing
5(b)
. H
ow h
ave
fees
on
secu
red
lend
ing
chan
ged?
of
wh
ich
: Spr
eads
on
buy
to le
t le
ndin
g
7
Table 1: Secured Lending to Households Questionnaire Results (Cont’d)
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Curr
ent q
uart
er
-21.
3-1
6.2
-20.
0-3
2.5
2.6
-22.
618
.0-1
3.1
-36.
9-2
2.4
-0.5
Nex
t qua
rter
-1
1.8
-17.
3-1
0.9
-27.
9-2
.6-2
2.5
-16.
2-2
5.8
-17.
3-3
3.3
9.1
Fact
ors c
ontr
ibut
ing
to ch
ange
s in
cred
it av
aila
bilit
yCu
rren
t qua
rter
-1
4.4
-11.
2-2
.6-3
8.2
2.6
-43.
8-1
6.2
-57.
0-5
4.1
-40.
3-5
5.0
Nex
t qua
rter
-1
1.3
-9.3
-6.3
-35.
5-1
3.2
-30.
4-2
5.2
-47.
2-1
8.0
-21.
8-2
4.8
Curr
ent q
uart
er
-29.
8-2
3.4
-20.
0-2
4.5
-12.
6-3
0.7
-4.0
-35.
3-3
0.4
-19.
3-2
2.7
Nex
t qua
rter
-2
3.4
-18.
9-2
1.4
-23.
4-1
1.0
-21.
6-2
2.7
-29.
5-1
9.8
-31.
33.
0
Curr
ent q
uart
er
-7.4
-7.4
-17.
7-1
6.5
-14.
2-5
1.0
-22.
2-4
7.0
-28.
2-3
5.1
-33.
7
Nex
t qua
rter
-7
.7-1
0.9
-18.
2-2
7.3
-4.5
-39.
1-1
9.2
-35.
1-1
0.6
-21.
2-6
.5
Curr
ent q
uart
er
-4.0
-17.
9-9
.8-1
1.6
6.3
-24.
4-4
.4-3
8.3
-19.
3-1
7.3
-24.
7
Nex
t qua
rter
-7
.8-6
.4-2
.3-1
0.9
0.6
-12.
32.
7-2
2.9
-6.3
-18.
4-1
9.9
Curr
ent q
uart
er
-9.2
-22.
9-5
.5-2
9.5
15.3
-27.
65.
8-3
3.7
-22.
9-2
3.2
-30.
7
Nex
t qua
rter
-2
4.6
-13.
0-0
.5-2
7.9
8.1
-19.
7-8
.6-2
4.9
-12.
6-1
9.8
-21.
2
Curr
ent q
uart
er
-31.
9-2
3.9
-21.
1-2
3.7
-25.
55.
20.
1-9
.0-5
.022
.910
.9
Nex
t qua
rter
-4
6.0
-27.
0-2
5.7
-26.
4-2
4.3
-19.
2-1
2.5
-15.
5-1
8.0
18.8
-4.9
Curr
ent q
uart
er
-23.
4-2
4.1
-11.
4-2
5.9
-18.
7-8
.6-7
.7-2
1.0
-7.6
6.5
3.0
Nex
t qua
rter
-2
3.1
-16.
1-7
.9-2
0.9
-24.
1-1
3.0
-11.
5-2
5.8
-23.
2-0
.4-1
2.4
Curr
ent q
uart
er
33.8
33.7
35.3
22.3
26.6
30.5
25.2
30.9
25.3
22.7
20.9
Nex
t qua
rter
38
.936
.943
.437
.328
.232
.429
.220
.528
.517
.911
.4
Curr
ent q
uart
er
14.4
18.6
13.4
3.9
-8.2
11.7
20.0
-17.
19.
3-1
2.1
-13.
5
Nex
t qua
rter
10
.46.
94.
910
.7-1
2.6
6.5
16.7
-20.
812
.3-1
3.3
-22.
3
Curr
ent q
uart
er
-5.5
-3.0
-12.
712
.7-9
.20.
0-0
.1-9
.712
.9-1
5.0
-5.0
Nex
t qua
rter
-2
.1-9
.2-1
0.4
1.9
-9.2
-8.5
-2.3
-6.2
-2.6
-17.
1-7
.7
2016
QU
ESTI
ON
2014
2015
10. H
ow h
as th
e av
aila
bilit
y of
hou
seho
lds s
ecur
ed cr
edit
to th
e fo
llow
ing
type
s of b
orro
wer
s cha
nged
:
6. H
ow h
as th
e av
aila
bilit
y of
secu
red
cred
it pr
ovid
ed to
hous
ehol
ds ch
ange
d?
Econ
omic
out
look
Mar
ket s
hare
obj
ectiv
es
Appe
tite
for r
isk
Borr
ower
s with
low
loan
to v
alue
ratio
s (75
% o
r
less
)
Borr
ower
s with
hig
h lo
an to
val
ue ra
tios (
mor
e
than
75%
)
Who
lesa
le fu
ndin
g co
nditi
ons
Lliq
uidi
ty p
ositi
ons
7. H
as th
e de
faul
t rat
e on
secu
red
loan
s to
hous
ehol
ds
chan
ged?
8. H
ow h
ave
loss
es g
iven
def
ault
to h
ouse
hold
s cha
nged
?
9. H
ow h
as th
e av
erag
e cr
edit
qual
ity o
f new
secu
red
lend
ing
to H
OUS
EHO
LDS
chan
ged?
8
Table 2: Unsecured Lending to Households Questionnaire Results
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Cu
rren
t q
ua
rter
20
.3-1
9.7
30.4
30.3
11.5
11.1
18.9
23.6
10.2
33.9
20.4
Nex
t q
ua
rter
19
.6-2
5.0
47.7
29.4
16.7
28.7
27.4
46.4
26.4
28.0
23.7
Cu
rren
t q
ua
rter
-1
.3-1
0.2
28.0
39.4
29.4
14.0
14.3
22.6
3.2
27.7
17.6
Nex
t q
ua
rter
7.
5-0
.138
.017
.421
.933
.412
.850
.116
.418
.724
.3
Cu
rren
t q
ua
rter
1.
3-1
6.4
29.4
27.6
16.7
14.0
10.7
11.9
1.2
19.6
15.1
Nex
t q
ua
rter
-1
.3-1
6.4
30.4
13.0
9.0
33.4
9.1
39.9
7.2
22.3
24.3
Cu
rren
t q
ua
rter
-8
.1-9
.221
.413
.3-4
.111
.113
.6-1
2.6
22.6
28.3
10.9
Nex
t q
ua
rter
-1
3.8
-4.0
7.6
-2.2
15.6
10.8
19.3
15.2
17.4
22.4
19.0
Cu
rren
t q
ua
rter
-4
.67.
28.
618
.81.
26.
62.
4-3
.128
.028
.317
.3
Nex
t q
ua
rter
-1
.711
.410
.94.
517
.0-1
.87.
419
.326
.627
.516
.5
Cu
rren
t q
ua
rter
-0
.6-5
.07.
415
.6-1
.6-1
.62.
6-5
.323
.227
.510
.5
Nex
t q
ua
rter
-2
.9-7
.43.
04.
117
.7-1
.88.
211
.623
.329
.816
.5
Cu
rren
t q
ua
rter
-2
.9-4
.8-2
.5-5
.60.
013
.88.
01.
14.
813
.820
.8
Nex
t q
ua
rter
-9
.0-3
.0-5
.3-4
.70.
813
.820
.7-1
2.9
7.6
14.7
-4.8
Cu
rren
t q
ua
rter
10
.511
.11.
5-2
.20.
012
.46.
80.
93.
813
.922
.7
Nex
t q
ua
rter
7.
60.
0-2
.7-4
.51.
612
.417
.7-1
0.9
6.8
14.9
-3.7
Cu
rren
t q
ua
rter
13
.412
.31.
50.
00.
012
.419
.43.
13.
815
.422
.7
Nex
t q
ua
rter
8.
00.
0-2
.80.
0-0
.512
.419
.4-9
.111
.916
.4-3
.7
Cu
rren
t q
ua
rter
3.
820
.937
.228
.628
.78.
511
.81.
4-1
3.2
11.1
-15.
0
Nex
t q
ua
rter
12
.617
.925
.925
.74.
828
.517
.11.
41.
711
.13.
5
Cu
rren
t q
ua
rter
6.
018
.733
.312
.129
.8-6
.3-1
.0-4
.3-2
2.7
13.2
-18.
9
Nex
t q
ua
rter
5.
8-2
.318
.9-4
.5-0
.5-0
.8-6
.2-1
2.7
-15.
912
.7-1
.7
Cu
rren
t q
ua
rter
-3
.33.
325
.910
.516
.5-7
.9-1
1.2
-6.3
-26.
010
.0-1
8.9
Nex
t q
ua
rter
5.
8-2
.318
.9-4
.5-0
.5-0
.8-6
.2-1
2.7
-15.
912
.7-1
.7
Cu
rren
t q
ua
rter
9.
06.
21.
96.
9-3
.1-1
4.4
-15.
5-8
.2-1
2.9
-1.0
-8.1
Nex
t q
ua
rter
6.
25.
0-0
.56.
90.
80.
0-2
.7-8
.4-2
.914
.2-3
.7
Cu
rren
t q
ua
rter
2.
43.
5-2
.52.
4-1
0.3
-10.
5-1
9.9
-13.
3-5
.74.
3-2
.8
Nex
t q
ua
rter
5.
43.
71.
85.
60.
7-0
.5-2
.3-1
8.5
-3.1
9.0
-9.2
Cu
rren
t q
ua
rter
7.
44.
43.
72.
8-6
.9-1
5.0
-21.
8-1
8.7
-4.9
10.1
-2.8
Nex
t q
ua
rter
5.
65.
7-0
.25.
7-3
.6-5
.2-7
.5-1
9.2
-2.3
15.3
-9.2
Cu
rren
t q
ua
rter
-6
.7-0
.2-3
.60.
0-3
.1-0
.6-1
4.3
0.0
3.8
11.5
-3.7
Nex
t q
ua
rter
0.
0-1
.20.
00.
00.
0-0
.60.
011
.810
.916
.6-1
1.6
Cu
rren
t q
ua
rter
-2
.912
.8-1
.91.
71.
60.
00.
0-0
.52.
311
.40.
4
Nex
t q
ua
rter
0.
6-0
.61.
22.
11.
60.
00.
021
.36.
311
.4-6
.1
Cu
rren
t q
ua
rter
-1
.24.
8-0
.52.
05.
112
.910
.913
.62.
311
.63.
0
Nex
t q
ua
rter
1.
214
.21.
92.
06.
120
.213
.86.
52.
316
.73.
1
5(c)
. H
ow
hav
e s
pre
ads
on
ove
rall
un
secu
red
le
nd
ing
chan
ged
? 5(
d).
Ho
w h
ave
un
secu
red
cre
dit
car
d li
mit
s c
han
ged
?
5(e
). H
ow
has
th
e m
inim
um
pro
po
rtio
n o
f cr
ed
it c
ard
s b
alan
ces
to b
e p
aid
ch
ange
d?
5(f)
. H
ow
hav
e m
axim
um
mat
uri
tie
s o
n lo
ans
chan
ged
?
3(c)
. H
ow
hav
e c
red
it s
cori
ng
cre
teri
a fo
r gr
anti
ng
tota
l
un
secu
red
loan
ap
pli
cati
on
s b
y H
OU
SEH
OLD
S ch
ange
d?
4(a)
. H
ow
has
th
e p
rop
ort
ion
of
HO
USE
HO
LD c
red
it c
ard
lo
an
app
lica
tio
ns
be
ing
app
rove
d c
han
ged
? 4(
b).
Ho
w h
as t
he
pro
po
rtio
n o
f H
OU
SEH
OLD
ove
rdra
ft/p
ers
on
al
loan
ap
pli
cati
on
s b
ein
g ap
pro
ved
ch
ange
d?
4(c)
. H
ow
has
th
e p
rop
ort
ion
of
HO
USE
HO
LD t
ota
l lo
an
app
lica
tio
ns
be
ing
app
rove
d c
han
ged
?
5(a)
. H
ow
hav
e s
pre
ads
on
cre
dit
car
ds
chan
ged
?
5(b
). H
ow
hav
e s
pre
ads
on
ove
rdra
ft/p
ers
on
al lo
ans
chan
ged
?
1(c)
. H
ow
has
de
man
d f
or
tota
l un
secu
red
len
din
g fr
om
HO
USE
HO
LDS
chan
ged
? 2(
a).
Ho
w h
as d
em
and
fo
r u
nse
cure
d c
red
it c
ard
s le
nd
ing
fro
m
SMA
LL B
USI
NES
SES
chan
ged
? 2(
b).
Ho
w h
as d
em
and
fo
r u
nse
cure
d o
verd
raft
/ p
ers
on
al lo
ans
fro
m S
MA
LL B
USI
NES
SES
chan
ged
? 2(
c).
Ho
w h
as d
em
and
fo
r to
tal u
nse
cure
d le
nd
ing
fro
m S
MA
LL
BU
SIN
ESSE
S ch
ange
d?
3(a)
. H
ow
hav
e c
red
it s
cori
ng
cre
teri
a fo
r gr
anti
ng
cre
dit
car
d
loan
ap
pli
cati
on
s b
y H
OU
SEH
OLD
S ch
ange
d?
3(b
). H
ow
hav
e c
red
it s
cori
ng
cre
teri
a fo
r gr
anti
ng
ove
rdra
ft/p
ers
on
al lo
an a
pp
lica
tio
ns
by
HO
USE
HO
LDS
chan
ged
?
1(a)
. H
ow
has
de
man
d f
or
un
secu
red
cre
dit
car
ds
len
din
g f
rom
HO
USE
HO
LDS
chan
ged
? 1(
b).
Ho
w h
as d
em
and
fo
r u
nse
cure
d o
verd
raft
/ p
ers
on
al lo
ans
fro
m H
OU
SEH
OLD
S ch
ange
d?
QU
ESTI
ON
S20
1420
1520
16
9
Table 2: Unsecured Lending to Households Questionnaire Results (Cont’d)
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Curr
ent q
uart
er
-11.
7-8
.3-1
2.7
-2.3
-13.
9-1
8.6
-11.
7-2
6.6
-13.
5-3
3.1
-11.
3
Nex
t qua
rter
-7
.0-1
5.5
-10.
6-6
.9-9
.7-1
7.8
-13.
0-1
0.6
-9.2
-27.
9-1
4.5
Fact
ors
cont
ribut
ing
to c
hang
es in
cre
dit a
vaila
bilit
yCu
rren
t qua
rter
-1
0.4
-9.9
-15.
1-3
3.2
-2.6
-5.2
-15.
8-4
2.2
-25.
7-4
5.8
-10.
6
Nex
t qua
rter
-9
.9-9
.9-7
.9-3
3.0
-8.4
-9.2
-11.
7-2
8.6
-13.
4-2
4.3
-10.
2
Curr
ent q
uart
er
-31.
1-1
7.0
-26.
0-2
5.3
-10.
1-2
2.5
-7.9
-25.
9-1
5.0
-27.
1-1
8.0
Nex
t qua
rter
-1
8.3
-19.
9-2
3.4
-17.
6-1
7.7
-21.
7-4
.4-1
5.1
-20.
4-2
6.9
-15.
4
Curr
ent q
uart
er
-6.2
2.6
-13.
6-1
9.2
-7.6
-13.
8-1
6.6
-39.
6-2
9.2
-32.
0-2
4.6
Nex
t qua
rter
-5
.2-4
.4-1
0.8
-21.
7-1
8.8
-14.
9-1
0.2
-26.
2-1
7.9
-27.
9-2
4.1
Curr
ent q
uart
er
-25.
6-2
2.7
-27.
6-3
0.5
-22.
8-2
5.3
-11.
2-3
0.5
0.8
-24.
1-8
.2
Nex
t qua
rter
-1
7.7
-25.
6-2
3.5
-30.
3-1
3.6
-23.
9-1
3.0
-28.
2-9
.2-1
8.4
-8.3
Curr
ent q
uart
er
-26.
5-2
1.8
-21.
2-2
9.2
-13.
418
.31.
6-3
1.9
-10.
15.
2-8
.4
Nex
t qua
rter
-2
0.5
-22.
6-2
7.3
-29.
2-5
.83.
5-2
0.3
-29.
9-1
2.5
2.7
-12.
2
Curr
ent q
uart
er
-35.
7-4
.2-1
1.2
-24.
2-2
0.3
26.5
3.9
-18.
83.
112
.91.
3
Nex
t qua
rter
-2
0.3
-27.
9-2
8.3
-34.
9-9
.23.
3-1
9.1
-40.
6-8
.93.
7-7
.0
Curr
ent q
uart
er
-35.
7-7
.4-1
3.2
-21.
7-2
0.6
17.2
4.3
-18.
8-0
.713
.11.
3
Nex
t qua
rter
-2
0.3
-29.
6-2
8.3
-29.
4-8
.83.
1-1
6.0
-40.
6-1
2.7
1.4
-6.7
Curr
ent q
uart
er
-5.8
-6.2
-16.
0-3
3.8
-10.
3-0
.4-1
1.2
-13.
96.
515
.61.
7
Nex
t qua
rter
-2
4.9
-14.
1-2
7.3
-24.
6-2
.0-1
5.8
-11.
4-1
.7-1
4.0
-2.4
-12.
2
Curr
ent q
uart
er
-22.
5-7
.0-1
7.4
-18.
0-1
0.0
0.2
-9.3
-23.
2-7
.68.
9-3
.5
Nex
t qua
rter
-2
8.3
-20.
1-2
7.4
-19.
6-3
.5-1
4.9
-10.
4-1
2.2
-30.
8-8
.7-2
0.5
Curr
ent q
uart
er
-22.
5-7
.4-1
9.1
-18.
0-1
4.8
-2.4
-10.
2-3
4.6
-7.6
8.9
-3.5
Nex
t qua
rter
-2
7.3
-21.
3-2
8.5
-19.
6-7
.7-1
4.2
-6.3
-7.1
-25.
7-3
.6-1
3.6
Curr
ent q
uart
er
-15.
821
.919
.821
.622
.08.
42.
226
.76.
210
.29.
2
Nex
t qua
rter
-9
.216
.626
.95.
324
.416
.414
.113
.212
.320
.76.
9
Curr
ent q
uart
er
-2.1
13.8
19.3
20.6
20.9
1.9
0.6
9.9
13.5
2.2
-4.3
Nex
t qua
rter
-6
.020
.222
.810
.022
.115
.513
.61.
013
.09.
8-5
.2
Curr
ent q
uart
er
-2.2
15.9
19.4
23.8
20.4
-0.8
0.7
14.9
18.7
7.4
2.0
Nex
t qua
rter
-6
.026
.122
.910
.018
.914
.715
.01.
318
.115
.11.
3
8(a)
. H
ow h
ave
loss
es g
iven
def
ault
on
cred
it c
ard
loan
s to
hous
ehol
ds c
hang
ed?
8(b)
. H
ow h
ave
loss
es g
iven
def
ault
on
over
draf
t/pe
rson
al lo
ans
to h
ouse
hold
s ch
ange
d?8(
c).
How
hav
e lo
sses
giv
en d
efau
lt o
n to
tal u
nsec
ured
loan
s to
hous
ehol
ds c
hang
ed?
9(a)
. H
ow h
as th
e av
erag
e c
redi
t qua
lity
of n
ew c
redi
t car
d
lend
ing
to H
OU
SEH
OLD
S ch
ange
d?9(
b).
How
has
the
aver
age
cre
dit q
ualit
y of
new
over
draf
t/pe
rson
al le
ndin
g to
HO
USE
HO
LDS
chan
ged?
9(c)
. H
ow h
as th
e av
erag
e c
redi
t qua
lity
of n
ew to
tal u
nsec
ured
lend
ing
to H
OU
SEH
OLD
S ch
ange
d?
Mar
ket s
hare
obj
ecti
ves
App
etit
e fo
r ri
sk
Cost
/ av
aila
bilit
y of
fund
s
7(a)
. H
ow h
as t
he d
efau
lt ra
te o
n cr
edit
car
d lo
ans
to
hous
ehol
ds c
hang
ed?
7(b)
. H
ow h
as th
e de
faul
t rat
e on
ove
rdra
ft/
pers
onal
loa
ns to
hous
ehol
ds c
hang
ed?
7(c)
. H
ow h
as th
e de
faul
t rat
e on
tot
al u
nsec
ured
loan
s to
hous
ehol
ds c
hang
ed?
6. H
ow h
as th
e av
aila
bilit
y of
uns
ecur
ed c
redi
t pro
vide
d to
hous
ehol
ds c
hang
ed?
Eco
nom
ic o
utlo
ok
QU
ESTI
ON
S20
1420
1520
16
10
Table 3: Corporate Lending Questionnaire Results
QU
ESTI
ON
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Cu
rren
t q
ua
rter
-2
7.4
-40.
1-3
5.2
-35.
7-3
4.2
-32.
4-2
3.0
-14.
125
.0-1
9.7
-5.2
Nex
t q
ua
rter
-3
2.7
-45.
9-2
2.2
-40.
1-1
0.0
-20.
8-2
2.6
-13.
141
.6-2
3.6
-10.
3
Cu
rren
t q
ua
rter
-2
0.5
-28.
7-2
5.5
-31.
7-3
7.5
-28.
9-1
9.8
-10.
014
.9-2
8.2
-3.4
Nex
t q
ua
rter
-2
8.9
-26.
7-2
3.9
-30.
1-2
8.4
-23.
2-2
3.3
-8.9
29.2
-26.
3-1
0.2
Cu
rren
t q
ua
rter
-4
0.1
-36.
8-4
5.4
-41.
2-4
1.7
-32.
6-2
0.1
-5.8
12.2
-26.
0-5
.7
Nex
t q
ua
rter
-3
0.8
-32.
8-2
1.4
-13.
5-2
1.2
-21.
0-1
6.7
-12.
126
.9-2
9.2
-7.7
Cu
rren
t q
ua
rter
-6
.5-1
8.1
-10.
9-2
.8-1
9.2
-10.
6-1
3.9
-16.
54.
0-1
7.2
10.4
Nex
t q
ua
rter
3.
1-1
5.9
-1.4
2.2
13.9
-9.1
-11.
1-4
.122
.3-2
1.1
5.8
Cu
rren
t q
ua
rter
16
.416
.211
.64.
815
.432
.430
.5-1
5.9
3.9
22.7
17.2
Nex
t q
ua
rter
27
.113
.215
.315
.53.
127
.627
.2-2
.017
.625
.324
.4
Cu
rren
t q
ua
rter
31
.450
.542
.829
.134
.425
.342
.226
.724
.232
.721
.8
Nex
t q
ua
rter
27
.636
.617
.526
.06.
333
.244
.220
.924
.924
.725
.3
Cu
rren
t q
ua
rter
33
.852
.441
.539
.933
.120
.326
.224
.19.
729
.015
.3
Nex
t q
ua
rter
31
.635
.612
.740
.17.
227
.434
.515
.726
.534
.025
.8
Cu
rren
t q
ua
rter
19
.338
.533
.237
.527
.518
.630
.98.
311
.012
.814
.2
Nex
t q
ua
rter
24
.524
.29.
933
.82.
934
.423
.35.
617
.421
.09.
2
Cu
rren
t q
ua
rter
30
.529
.636
.439
.817
.924
.430
.913
.30.
514
.914
.2
Nex
t q
ua
rter
40
.322
.515
.122
.83.
834
.922
.220
.511
.114
.48.
8
Cu
rren
t q
ua
rter
4.
612
.57.
86.
411
.50.
418
.74.
4-1
7.8
-0.7
-9.5
Nex
t q
ua
rter
13
.99.
41.
213
.0-7
.927
.318
.14.
94.
69.
49.
2
3. W
hat
hav
e b
ee
n t
he
mai
n f
acto
rs c
on
trib
uti
ng
to
chan
ges
in d
em
and
fo
r le
nd
ing?
Cu
rren
t q
ua
rter
-1
1.7
-12.
4-1
.86.
2-1
5.3
-13.
9-8
.2-3
.0-5
8.7
7.2
-26.
4
Nex
t q
ua
rter
-1
3.1
4.5
-19.
7-1
0.1
-21.
2-6
.90.
0-3
.0-8
.87.
50.
0
Cu
rren
t q
ua
rter
39
.250
.937
.147
.748
.838
.931
.223
.18.
416
.816
.4
Nex
t q
ua
rter
35
.639
.914
.242
.018
.729
.833
.313
.019
.427
.324
.9
Cu
rren
t q
ua
rter
41
.037
.332
.259
.942
.047
.948
.524
.635
.023
.732
.3
Nex
t q
ua
rter
42
.139
.932
.746
.919
.035
.746
.223
.820
.124
.930
.7
Cu
rren
t q
ua
rter
-9
.34.
27.
027
.2-1
2.6
-5.6
-7.1
-13.
9-7
.0-1
4.0
-20.
4
Nex
t q
ua
rter
6.
715
.13.
028
.2-1
1.1
14.4
8.1
-2.2
7.1
-8.6
-8.3
Cu
rren
t q
ua
rter
7.
6-1
6.1
1.8
10.3
7.1
10.0
6.4
-13.
20.
17.
5-1
0.0
Nex
t q
ua
rter
7.
6-1
6.1
1.8
10.3
7.1
10.0
6.4
-13.
20.
17.
5-1
0.0
Cu
rren
t q
ua
rter
-3
7.0
-26.
2-2
8.0
-43.
1-3
7.2
-22.
3-5
.3-8
.7-4
7.6
-8.0
-9.3
Nex
t q
ua
rter
-3
2.2
-19.
0-2
3.5
-35.
8-1
3.1
-4.0
-11.
7-2
.6-2
9.4
-25.
0-1
4.6
Cu
rren
t q
ua
rter
-4
.61.
7-2
.5-2
3.3
-9.6
16.3
-12.
50.
5-4
0.5
8.8
-23.
8
Nex
t q
ua
rter
-1
5.9
-3.8
-5.0
-24.
523
.4-4
.1-1
5.3
8.5
-28.
1-1
1.7
-25.
3
(a4
) B
ala
nce
sh
eet
rest
ruct
uri
ng
1(c)
. H
ow
has
ava
ilab
ilit
y o
f c
red
it p
rovi
de
d t
o la
rge
PN
FCs
ch
ange
d?
2(b
). H
ow
has
de
man
d f
or
ove
rdra
ft/
pe
rso
nal
loan
s
fro
m S
MA
LL B
USI
NES
SES
chan
ged
?
1(d
). H
ow
has
ava
ilab
ilit
y o
f c
red
it p
rovi
de
d t
o O
FCs
chan
ged
?
2014
2015
2016
1(b
). H
ow
has
ava
ilab
ilit
y o
f c
red
it p
rovi
de
d t
o
me
diu
m P
NFC
s c
han
ged
?
4(a)
. H
ow
has
th
e o
vera
ll a
vail
abil
ity
of
cre
dit
to
th
e
corp
ora
te s
ect
or
ch
ange
d?
2(a)
. H
ow
has
de
man
d f
or
cre
dit
car
ds
len
din
g f
rom
SMA
LL B
USI
NES
SES
chan
ged
?
(a2
)C
ap
ita
l In
vest
men
ts
2(f)
. H
ow
has
de
man
d f
or
len
din
g fr
om
OFC
s c
han
ged
?
(a1
)M
erg
er a
nd
acq
uis
itio
n
Of
wh
ich
: Co
mm
erci
al r
eal e
sta
te s
ecto
r
2(e
). H
ow
has
de
man
d f
or
len
din
g f
rom
Lar
ge P
NFC
s
chan
ged
?
(a3
) In
ven
tory
Fin
an
ce
(a5
) C
om
mer
cia
l R
eal E
sta
te
1(a)
. H
ow
has
ava
ilab
ilit
y o
f c
red
it p
rovi
de
d t
o s
mal
l
bu
sin
ess
es
ch
ange
d?
2(c)
. H
ow
has
de
man
d f
or
secu
red
len
din
g f
rom
SM
ALL
BU
SIN
ESSE
S ch
ange
d?
2(d
). H
ow
has
de
man
d f
or
len
din
g f
rom
Me
diu
m P
NFC
s
chan
ged
?
11
Table 3: Corporate Lending Questionnaire Results (Cont’d)
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
4(b
). F
acto
rs c
on
trib
uti
ng
to c
han
ges
in c
red
it a
vail
abil
ity.
Cu
rren
t q
ua
rter
-3
2.8
-38.
3-3
7.9
-44.
9-2
5.3
-59.
1-6
5.0
-65.
4-6
5.8
-55.
5-5
8.2
Nex
t q
ua
rter
-2
3.5
-17.
1-2
3.6
-38.
6-1
5.1
-50.
6-5
5.9
-62.
2-5
7.0
-40.
2-4
7.1
Cu
rren
t q
ua
rter
-2
9.4
-32.
0-3
0.2
-33.
2-2
5.6
-61.
6-5
4.5
-60.
0-5
6.4
-57.
8-5
0.7
Nex
t q
ua
rter
-2
6.0
-26.
1-2
9.6
-40.
2-2
5.4
-48.
5-5
5.5
-58.
4-3
1.6
-40.
3-4
4.3
Cu
rren
t q
ua
rter
-3
2.6
-27.
9-2
7.7
-35.
0-1
9.2
-34.
1-2
4.1
-43.
8-3
2.3
-40.
6-3
7.4
Nex
t q
ua
rter
-2
0.7
-22.
0-2
2.4
-31.
5-9
.1-6
.3-2
3.7
-22.
3-2
8.4
-31.
8-2
0.9
Cu
rren
t q
ua
rter
12
.617
.918
.816
.930
.524
.620
.223
.5-2
3.4
-17.
2-1
7.0
Nex
t q
ua
rter
12
.010
.518
.812
.825
.724
.05.
40.
4-2
6.2
-4.2
-14.
3
Cu
rren
t q
ua
rter
-1
4.2
-10.
1-2
5.3
-23.
1-1
8.8
-40.
8-3
2.3
-47.
2-3
1.6
-36.
8-2
8.2
Nex
t q
ua
rter
-5
.6-1
0.5
-13.
4-2
7.0
-5.3
-31.
0-2
3.4
-53.
1-3
2.9
-31.
2-3
9.9
Cu
rren
t q
ua
rter
-2
4.5
-13.
9-1
2.2
-35.
0-1
4.1
-17.
4-3
3.5
-36.
7-3
6.2
-25.
0-3
5.8
Nex
t q
ua
rter
-1
7.2
-18.
1-1
8.3
-37.
9-4
.5-3
1.1
-27.
3-3
9.3
-29.
8-2
9.8
-39.
9
Cu
rren
t q
ua
rter
-4
0.3
-24.
7-3
9.7
-35.
1-1
5.9
-35.
1-4
1.9
-45.
3-4
1.9
-45.
3-3
8.1
Nex
t q
ua
rter
-3
6.2
-35.
3-3
4.5
-38.
9-1
0.9
-38.
4-3
4.0
-37.
6-3
0.9
-32.
7-5
0.8
Cu
rren
t q
ua
rter
-6
.99.
60.
30.
4-5
.0-1
.1-3
.4-6
.67.
2-1
3.8
10.1
Nex
t q
ua
rter
-1
7.2
3.4
6.7
-3.9
-1.1
-9.6
-15.
5-7
.42.
7-1
3.8
0.7
Cu
rren
t q
ua
rter
-2
0.7
-11.
7-2
3.1
-11.
6-1
9.4
-16.
8-1
4.9
-23.
0-1
4.3
-13.
9-5
.7
Nex
t q
ua
rter
-2
4.0
-11.
8-1
0.3
-13.
5-2
.8-1
2.3
-14.
5-1
3.1
-14.
3-1
3.9
-14.
1
Cu
rren
t q
ua
rter
24
.641
.324
.334
.527
.423
.37.
6-1
4.4
0.2
26.1
-12.
7
Nex
t q
ua
rter
35
.332
.89.
036
.97.
431
.616
.410
.817
.823
.9-2
.5
Cu
rren
t q
ua
rter
23
.733
.223
.036
.229
.416
.21.
7-0
.4-2
.321
.0-6
.9
Nex
t q
ua
rter
24
.221
.2-0
.539
.0-1
9.4
10.6
5.8
2.4
3.5
12.4
-16.
4
Cu
rren
t q
ua
rter
30
.940
.639
.030
.225
.49.
7-3
.6-0
.5-6
.315
.1-1
2.6
Nex
t q
ua
rter
26
.527
.110
.737
.3-1
.814
.1-1
.3-7
.5-6
.57.
1-1
6.5
Cu
rren
t q
ua
rter
-8
.8-6
.51.
3-2
.45.
0-5
.2-9
.5-2
1.2
-2.2
1.5
-9.0
Nex
t q
ua
rter
-0
.1-5
.40.
4-4
.2-3
.81.
6-3
.3-3
.1-6
.63.
6-1
1.9
Cu
rren
t q
ua
rter
-5
.5-9
.9-4
.10.
0-2
.40.
00.
0-2
1.2
-5.5
6.5
3.1
Nex
t q
ua
rter
0.
3-3
.90.
0-1
.8-1
0.0
-6.5
-6.3
-1.4
-5.2
-0.3
-5.0
Cu
rren
t q
ua
rter
-1
3.3
-20.
5-1
4.1
-0.8
-6.2
-11.
0-6
.6-1
8.9
-41.
6-1
0.7
-21.
1
Nex
t q
ua
rter
-2
.2-7
.60.
0-1
.8-1
7.0
-6.7
-6.6
-9.1
-20.
8-1
0.4
-26.
1
Cu
rren
t q
ua
rter
-1
1.1
-6.4
-0.1
-10.
0-1
8.4
-5.3
-7.0
-3.3
9.9
-5.0
7.7
Nex
t q
ua
rter
-8
.2-1
5.2
-7.1
-10.
0-1
3.2
-7.4
-7.5
-6.6
4.6
-4.0
7.6
Cu
rren
t q
ua
rter
-9
.2-1
4.6
-15.
8-2
.4-1
0.6
-4.0
-14.
517
.219
.9-1
8.3
-16.
7
Nex
t q
ua
rter
-3
.0-4
.4-0
.4-4
.2-8
.4-5
.6-5
.7-4
.718
.4-1
4.7
-17.
9
Ap
pet
ite
for
risk
Wh
ole
sale
fun
din
g c
on
dit
ion
s
Liq
uid
ity
con
dit
ion
s
Eco
no
mic
ou
tlo
ok
Sect
or
spec
ific
ris
ks
Ma
rket
sh
are
ob
ject
ives
Ma
rket
pre
ssu
res
fro
m c
ap
ita
l ma
rket
s
QU
ESTI
ON
4(c1
). H
ow
hav
e c
om
me
rcia
l pro
pe
rty
pri
ces
affe
cte
d c
red
it
ava
ilab
ility
to
th
e co
mm
erci
al r
eal e
sta
te s
ecto
r?
6(a3
). H
ow
hav
e c
oll
atar
al r
eq
uir
em
en
ts f
or
loan
s to
sm
all
bu
sin
ess
es
chan
ged
?
2016
2015
2014
6(a2
). H
ow
hav
e f
ee
s/co
mm
issi
on
s o
n lo
ans
to s
mal
l
bu
sin
ess
es
chan
ged
?
6(a4
). H
ow
hav
e m
axim
um
cre
dit
lin
es
for
loan
s to
sm
all
bu
sin
ess
es
chan
ged
?
6(a5
). H
ow
hav
e L
oan
co
nve
nan
ts f
or
loan
s to
sm
all
bu
sin
ess
es
chan
ged
?
4(c2
). H
ow
hav
e c
om
me
rcia
l pro
pe
rty
pri
ces
affe
cte
d
secu
red
len
din
g to
PN
FCs?
5(a)
. H
ow
has
th
e p
rop
ort
ion
of
loan
ap
pli
cati
on
s fr
om
smal
l bu
sin
ess
es
be
ing
app
rove
d c
han
ged
?
5(b
). H
ow
has
th
e p
rop
ort
ion
of
loan
ap
pli
cati
on
s fr
om
me
diu
m P
NFC
s b
ein
g ap
pro
ved
ch
ange
d?
5(c)
. H
ow
has
th
e p
rop
ort
ion
of
loan
ap
pli
cati
on
s fr
om
larg
e
PN
FCs
be
ing
app
rove
d c
han
ged
?
6(a1
). H
ow
hav
e s
pre
ads
on
loan
s to
sm
all b
usi
ne
sse
s
chan
ged
?
12
Table 3: Corporate Lending Questionnaire Results (cont’d)
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Cu
rren
t q
ua
rter
-4
.9-8
.8-7
.10.
0-9
.2-3
.6-1
.0-2
5.3
-8.6
-0.3
-13.
5
Nex
t q
ua
rter
1.
54.
74.
5-2
.2-9
.1-1
.1-2
.5-1
1.5
-8.5
-4.1
-12.
2
Cu
rren
t q
ua
rter
-4
.5-1
4.3
-10.
70.
0-8
.3-8
.6-1
.9-1
1.2
-11.
1-3
.8-3
.7
Nex
t q
ua
rter
0.
34.
64.
70.
0-3
.6-2
.6-6
.2-1
1.8
-20.
3-1
5.5
1.3
Cu
rren
t q
ua
rter
-1
0.2
-11.
0-9
.24.
9-1
3.6
-14.
5-1
0.8
-27.
8-2
3.7
-10.
5-2
1.8
Nex
t q
ua
rter
-1
.50.
00.
0-0
.5-1
4.0
-6.9
-8.9
-8.7
-20.
2-1
0.9
-21.
8
Cu
rren
t q
ua
rter
-1
.1-1
4.6
-7.2
-1.5
-8.5
-3.5
-8.1
-6.3
15.5
-12.
95.
3
Nex
t q
ua
rter
-2
.5-7
.8-3
.8-0
.5-7
.2-5
.7-5
.4-3
.15.
1-4
.36.
4
Cu
rren
t q
ua
rter
-1
.8-9
.8-9
.3-2
.4-4
.2-8
.5-1
7.0
9.0
31.6
-16.
4-1
9.9
Nex
t q
ua
rter
-1
.7-9
.0-1
.0-1
.9-5
.4-5
.1-6
.4-4
.613
.8-1
4.2
-15.
4
Cu
rren
t q
ua
rter
5.
26.
97.
10.
0-5
.33.
30.
3-1
0.7
-5.0
1.0
-6.3
Nex
t q
ua
rter
1.
5-0
.4-1
.0-0
.5-7
.30.
0-1
.1-1
1.1
-3.5
1.2
-10.
1
Cu
rren
t q
ua
rter
7.
76.
48.
70.
0-2
.4-8
.5-8
.1-1
7.7
-17.
81.
6-4
.8
Nex
t q
ua
rter
-5
.6-5
.4-5
.31.
70.
3-2
.10.
0-4
.4-5
.91.
3-4
.9
Cu
rren
t q
ua
rter
4.
2-1
.4-2
.9-1
.4-1
0.5
-8.3
-0.6
-24.
5-1
6.1
-12.
2-1
4.3
Nex
t q
ua
rter
-2
.5-1
.0-0
.9-3
.6-1
0.7
-3.5
1.3
-3.6
-15.
0-5
.0-1
8.8
Cu
rren
t q
ua
rter
-6
.0-1
1.1
-5.3
-0.2
-19.
4-5
.01.
10.
4-6
.0-1
.26.
2
Nex
t q
ua
rter
-7
.5-9
.0-0
.4-2
.4-1
.6-2
.2-2
.51.
77.
3-2
.614
.7
Cu
rren
t q
ua
rter
-2
.4-9
.2-2
.9-1
.0-1
.8-8
.0-1
.616
.8-1
5.5
-16.
9-9
.6
Nex
t q
ua
rter
-2
.8-8
.5-0
.9-3
.6-4
.4-5
.6-1
.1-3
.313
.3-1
2.7
-5.2
Cu
rren
t q
ua
rter
5.
78.
69.
30.
00.
14.
80.
8-1
.4-5
.91.
5-5
.4
Nex
t q
ua
rter
1.
20.
00.
0-0
.5-8
.40.
0-2
.2-1
3.8
-5.0
1.5
-12.
2
Cu
rren
t q
ua
rter
1.
3-1
.90.
20.
00.
0-3
.4-2
.1-1
.5-1
0.5
-2.5
3.2
Nex
t q
ua
rter
0.
80.
00.
0-0
.6-1
.4-2
.30.
0-6
.1-7
.5-2
.5-6
.8
Cu
rren
t q
ua
rter
-9
.6-0
.41.
2-1
.6-1
0.4
-4.0
-5.0
-8.1
-17.
5-7
.9-1
1.4
Nex
t q
ua
rter
-2
.90.
00.
0-1
.6-8
.9-4
.0-4
.4-8
.6-1
4.6
-3.9
-18.
2
Cu
rren
t q
ua
rter
-2
.2-5
.7-1
.7-1
.6-4
.3-1
.23.
8-0
.3-4
.81.
918
.4
Nex
t q
ua
rter
2.
8-4
.40.
0-4
.11.
4-2
.5-1
.6-2
.0-1
.6-2
.38.
2
Cu
rren
t q
ua
rter
-2
.7-4
.7-0
.4-4
.1-4
.2-4
.0-5
.1-3
.5-1
4.3
-15.
2-8
.6
Nex
t q
ua
rter
-3
.2-4
.40.
0-4
.1-6
.9-5
.8-1
.6-4
.0-8
.0-1
5.8
-7.2
QU
ESTI
ON
2016
2015
2014
6(b
1).
Ho
w h
ave
sp
read
s o
n lo
ans
to m
ed
ium
PN
FCs
chan
ged
?
6(b
2).
Ho
w h
ave
fe
es/
com
mis
sio
ns
on
loan
s to
me
diu
m
PN
FCs
chan
ged
?
6(b
3).
Ho
w h
ave
co
llat
aral
re
qu
ire
me
nts
fo
r lo
ans
tom
ed
ium
PN
FCs
chan
ged
?
6(b
4).
Ho
w h
ave
max
imu
m c
red
it li
ne
s fo
r lo
ans
to m
ed
ium
PN
FCs
chan
ged
?
6(b
5).
Ho
w h
ave
Lo
an c
on
ven
ants
fo
r lo
ans
to m
ed
ium
PN
FCs
chan
ged
?
6(c1
). H
ow
hav
e s
pre
ads
on
loan
s to
larg
e P
NFC
s ch
ange
d?
6(c2
). H
ow
hav
e f
ee
s/co
mm
issi
on
s o
n lo
ans
to la
rge
PN
FCs
chan
ged
?
6(c3
). H
ow
hav
e c
oll
atar
al r
eq
uir
em
en
ts f
or
loan
s to
larg
e
PN
FCs
chan
ged
?
6(d
5).
Ho
w h
ave
Lo
an c
on
ven
ants
fo
r lo
ans
toO
FCs
chan
ged
?
6(c4
). H
ow
hav
e m
axim
um
cre
dit
lin
es
for
loan
s to
larg
e
PN
FCs
chan
ged
?
6(c5
). H
ow
hav
e L
oan
co
nve
nan
ts f
or
loan
s to
larg
e P
NFC
s
chan
ged
?
6(d
1).
Ho
w h
ave
sp
read
s o
n lo
ans
to O
FCs
chan
ged
?
6(d
2).
Ho
w h
ave
fe
es/
com
mis
sio
ns
on
loan
s to
OFC
s
chan
ged
?
6(d
3).
Ho
w h
ave
co
llat
aral
re
qu
ire
me
nts
fo
r lo
ans
to O
FCs
chan
ged
?
6(d
4).
Ho
w h
ave
max
imu
m c
red
it li
ne
s fo
r lo
ans
to O
FCs
chan
ged
?
13
Table 3: Corporate Lending Questionnaire Results (cont’d)
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Curr
ent q
uart
er
-11.
514
.3-1
1.8
-21.
0-7
.44.
75.
7-8
.96.
613
.118
.3
Nex
t qua
rter
-1
0.6
-2.7
1.8
-22.
8-1
4.0
-13.
0-6
.9-6
.1-1
.211
.215
.5
Curr
ent q
uart
er
-21.
6-5
.7-2
1.6
-24.
1-1
1.3
-0.8
0.6
1.3
-1.2
12.6
9.6
Nex
t qua
rter
-1
0.6
-2.7
1.8
-27.
7-1
4.0
-17.
4-5
.5-6
.10.
87.
77.
8
Curr
ent q
uart
er
-25.
8-2
1.7
-26.
8-2
3.0
-17.
2-2
1.6
-7.2
-1.1
-6.1
3.1
3.8
Nex
t qua
rter
-1
4.7
-12.
4-3
.9-2
5.8
-15.
5-1
0.4
-0.6
-2.0
-0.8
5.7
5.8
Curr
ent q
uart
er
-16.
9-1
0.9
-13.
9-2
4.1
-10.
3-7
.73.
2-6
.03.
311
.71.
9
Nex
t qua
rter
-1
0.7
-12.
9-3
.9-2
7.7
-14.
2-6
.1-4
.8-3
.40.
57.
82.
5
Curr
ent q
uart
er
-16.
1-3
.4-5
.3-1
6.1
-9.4
-0.6
-1.1
-19.
6-2
.317
.015
.4
Nex
t qua
rter
-1
7.0
-14.
2-2
1.0
-14.
2-1
4.1
-8.6
-13.
3-1
0.2
-22.
1-0
.1-7
.8
Curr
ent q
uart
er
-22.
3-1
5.0
-16.
2-1
5.3
-11.
41.
50.
8-9
.6-1
.715
.69.
6
Nex
t qua
rter
-2
3.3
-11.
7-1
8.0
-15.
2-1
3.4
-6.4
-13.
2-1
0.1
-22.
3-2
.3-7
.0
Curr
ent q
uart
er
-28.
9-1
9.1
-21.
6-1
4.4
-17.
3-1
1.5
-11.
53.
2-9
.48.
01.
4
Nex
t qua
rter
-2
5.7
-16.
3-1
8.7
-15.
8-7
.5-6
.0-1
0.9
-3.6
-14.
34.
2-0
.9
Curr
ent q
uart
er
-19.
0-2
4.3
-13.
4-9
.3-1
.2-0
.6-1
.0-1
.22.
813
.98.
3
Nex
t qua
rter
-1
8.5
-14.
7-7
.9-1
1.5
-1.2
-6.1
-1.6
-5.1
-11.
06.
50.
8
Curr
ent q
uart
er
8.3
10.3
14.5
9.8
10.0
0.1
15.0
0.2
11.3
21.7
11.3
Nex
t qua
rter
15
.113
.72.
112
.17.
26.
09.
815
.216
.813
.88.
1
Curr
ent q
uart
er
12.6
16.2
10.5
3.5
13.9
6.2
14.7
-2.0
14.4
19.7
8.3
Nex
t qua
rter
15
.111
.2-4
.67.
415
.09.
712
.17.
813
.717
.53.
1
Curr
ent q
uart
er
11.1
11.5
6.7
0.7
5.0
5.5
10.7
15.5
-15.
813
.73.
8
Nex
t qua
rter
13
.33.
7-7
.6-0
.29.
82.
510
.74.
7-0
.115
.86.
1
Curr
ent q
uart
er
2.4
7.3
5.0
10.3
6.5
-1.0
6.3
-12.
5-3
.211
.5-1
0.7
Nex
t qua
rter
11
.22.
3-3
.411
.215
.84.
42.
3-0
.10.
19.
8-4
.0
7(a)
. H
ow h
as t
he d
efau
lt ra
te o
n lo
ans
to s
mal
l bus
ines
ses
chan
ged?
7(b)
H
ow h
as th
e de
faul
t rat
e on
loa
ns to
med
ium
PN
FCs
chan
ged?
7(c)
. H
ow h
as th
e de
faul
t rat
e on
loa
ns to
larg
e PN
FCs
chan
ged?
9(d)
. H
as th
ere
been
a c
hang
e in
dra
w d
own
on c
omm
itte
d
lines
by
PNFC
s?
8(a)
. H
ow h
ave
loss
es g
iven
def
ault
on
loan
s to
sm
all
busi
ness
es c
hang
ed?
8(b)
. H
ow h
ave
loss
es g
iven
def
ault
on
loan
s to
med
ium
PNFC
s cha
nged
?
8(c)
. H
ow h
ave
loss
es g
iven
def
ault
on
loan
s to
larg
e PN
FCs
chan
ged?
8(d)
. H
ow h
ave
loss
es g
iven
def
ault
on
loan
s to
OFC
s
chan
ged?
7(d)
. H
ow h
as th
e de
faul
t rat
e on
loa
ns to
OFC
s cha
nged
?
9(a)
. H
as t
here
bee
n a
chan
ged
in a
vera
ge c
redi
t qua
lity
on
new
ly a
rang
ed P
NFC
s bor
row
ing
faci
litie
s?
9(b)
. H
as th
ere
been
any
cha
nge
in ta
rget
hol
d le
vels
asso
ciat
ed w
ith
corp
orat
e le
ndin
g?
9(c)
. H
ow h
ave
loan
teno
rs o
n ne
w c
orpo
rate
loan
s
chan
ged?
QU
ESTI
ON
S20
1620
1520
14