Sudden braking in the loans volume
29.05.2008
The serious deceleration of the economy is clear in the first trimester of 2008. For it the governor of the Spanish Bank, Miguel Fernández Ordóñez, has advised to the banks and savings banks to get dearer the credit and to be more selective with the clients. We do not know until point this is a guessed right measurement.
Pero the verdad is that they all they have paid attention. According to the Survey of Bank Loans, To “there has taken place a widespread hardening of the conditions of credit offer in Spain. The situation is similar for the companies and you mortgage, and slightly more accused in the financing destined for families for consumption”. It seems also that the prolongan period between the few ones who ask for credits and the few ones that receive it. We can state that the credit of the boxes, for example, grew to 13,4 % until the last month, opposite to 24,3 % of the previous year.
Finally, the loans volume grows to a rhythm much smaller than in other years. The demand of mortgage credits has turned out to be reduced and it is going to continue the moderation in this growth. His aftereffects are serious, since the sudden braking in the housings buy will leave in red numbers the property development companies.
With all these dimes and diretes the housing construction will continue of fallen layer. And if the sector of the brick continues in great crises of the property development companies of our country they are going to close, with the consequent increase of the number of unemployed men.
In spite of the evidences, although a crisis has exploded, the Spanish Bank only thinks of hardening the conditions of the credits to the consumption.
Route: The Country
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