The ECB's 40th round of the Survey on the Access to Finance of Enterprises (SAFE), conducted between 26 August and 2 October 2026, found firms reported a further net increase in bank loan interest rates, at 46% versus 42% in the previous quarter. Large firms reported increases more often (net 55%) than SMEs (net 38%). Bank loan availability fell by a net 5%, more than the net 2% decline in firms' loan needs, leaving the financing gap indicator at a net 2% compared with 3% previously. The general economic outlook remained the main factor constraining external financing (net 31%, up from 29%). The survey covered 12,822 enterprises, of which 93% had fewer than 250 employees, and the majority of respondents were first-time participants, which makes numerical responses harder to interpret.
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ECBinterest ratescreditbusinessesEurope
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EUR/USD
▼ Likely negativeRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/23/2026 | 1.12044 |
| Change that session | -0.11% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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