The Reserve Bank is today releasing the results of its Credit Conditions Survey for June 2020.
The March Survey was collected in early March and thus reflects the views of respondents prior to the announcement of the COVID-19 alert level system and nationwide lockdown. The Reserve Bank therefore decided to conduct an interim Credit Conditions Survey to understand how domestic credit conditions have changed post-lockdown. We do not intend to turn this into a quarterly survey on an ongoing basis.
The biannual Credit Conditions Survey asks banks qualitative questions about changes in credit conditions in bank lending markets. Banks provide separate responses for household, small and medium enterprise, corporate, commercial property and agricultural lending. The questions focus on observed changes in loan demand and credit availability over the previous six months and expected changes over the next six months. It also asks banks how their lending standards have changed over the past six months.
The next Survey will be conducted as usual in September.