Bank of England (BoE) Credit Conditions Survey

Bank of England Credit Conditions Survey shows the results of a survey of British lenders — banks and building societies, about credit conditions.

The BoE needs to understand the trends and developments in credit conditions, which have an important impact on consumer behavior and business development in the country. Thus, credit conditions (from the point of view of creditors) also affect the country's overall economic outlook. The BoE quarterly sends a series of questionnaires to creditors to evaluate credit condition changes. The questions cover all types of lending: secured, unsecured, corporate and separately credit cards. Each of these questionnaires is sent to a certain sample of creditors: some creditors fill in one questionnaire, and some receive all four forms (depending on the form of activity).

Lenders are asked about the situation in their sector in the past three months and their view on the coming three months. They evaluate changes in relative terms (from "very strong/many" to "very weak/little", etc.). The survey covers a wide variety of lenders.

If the survey shows an improvement, one may expect the expansion of the lending activity and a positive effect on the pound sterling quotes.