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Access to credit in times of crisis: measures to support firms and households

Laura Bartiloro (), Luisa Carpinelli (), Paolo Finaldi Russo and Sabrina Pastorelli
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Luisa Carpinelli: Banca d'Italia

No 111, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: The financial crisis that started in August 2007 has led to a worsening in the conditions of credit supply to customers. Since the second half of 2008, several measures have been adopted in order to sustain access to credit for both firms and households, such as debt moratoria, provisions of guarantees on specific types of loans, and various forms of incentives to increase the supply of lending. The initiatives aimed at firms have been sizeable, involving financial resources up to as much as 5 per cent of total bank loans granted between the beginning of 2009 and September 2011. The corresponding value for households has been more modest, slightly above 1 per cent; this is mainly because of the strict qualification requirements applied to some of the initiatives and to their limited financial endowment.

Keywords: access to credit; debt moratoria; guarantee provisions (search for similar items in EconPapers)
JEL-codes: E65 G28 H81 (search for similar items in EconPapers)
Date: 2012-01
New Economics Papers: this item is included in nep-ban and nep-mac
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