Outstanding amounts of credit to households grew 4

Off-target. The Bank of France published Friday the annual review of the distribution of credit. The verdict is final: banks have increased their stock of 0.2 (1.864 EUR billion) the year last and 1.8 excluding the financial sector.

Evolution positive, but far from 3 to 4 growth in commitments they had made in October 2008 in exchange for financial assistance from the State. This objective was yet held as a formality and a simple constraint of facade, growing stock then to two digits.

What are credits cash businesses, more than 14 (EUR 185 billion), which fired the figures down. Where the meaning announcements made Wednesday by the French Banking Federation to demonstrate their mobilization. In total, the assistance granted to businesses are removal of 0.9 (770 billion).

Objectives. Outstanding amounts of credit to households grew 4.1 (986 billion), including 4 for loans to habitat and 3.5 for the consumer loans. The banks were particularly active between October and December.

Application problem

Credit institutions competed so arguments these days to dismantle the Meccano of business statistics.

January 7, the France Bank has published a study on the subject, for the first time. It explains the decline in loans to enterprises by a problem of application: the appropriations used ("mobilized") declined more strongly (-2.5) than all the lines made available to corporations by banks (1.2). Second, SMEs are much less affected than large firms.

The outstanding amount of credit for independent SMEs rose 2.2 at end of November, while those granted to groups decreased by 6.2. Big business, defends the French Banking Federation in a statement Friday, have abandoned the credit and more than quadrupled their use of the market (63.7 EUR 14.4 billion in 2008).

However, all institutions have not played the game in the same way. Groups who have signed an agreement with the company of financing of the economy (Credit Agricole, Credit Mutuel, Caisse d'Epargne, Société Générale, BNP Paribas, Banque Populaire) will publish within ten days of the progressions of stocks of the order of 2, or slightly above-average general.

Some commercial banks are closer to the goal as a mutual. BNP Paribas, which was to reach 4, increased its stock of about 3, according to our information. Société Générale, it indicates that the stock of credit experienced a nice rise in December and that the EUR 5 billion credit campaign launched in November has exceeded its objectives. Credit Agricole, which had launched a similar campaign, and other institutions did not wish to make comments before the publication of their results.

Appointment February 10

Appointment is made with public authorities on 10 February to take stock of the bank credit commitments. The Executive Director of the FBF has already stated ("Les Echos" from January 27) that the profession has refused to comply with a new exercise in respect of targets for 2010.

In a survey of the France Bank published Friday, all banks have indicated that they will play the map of the status quo on the criteria for the granting of here in late March, all categories of credits combined (excluding a certain relaxation on habitat credit) and this for the first time since end of 2008.