SMEs in turbulent times: a central bank perspective

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SMEs in turbulent times a central bank
perspective
OECD Turin Round Table 26-27th March 2009 Diego
Rodriguez Palenzuela
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Chart 1 Tightening of credit standards for loans
to enterprises- SMEs and large enterprises ( net
percentages)
Source ECB
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Chart 2 Factors contributing to the tightening
of credit standards for loans to enterprises
SMEs and large enterprises.
Source ECB
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Chart 3 Bank spreads on small and large loans to
non-financial corporations (monthly data, August
2007-January 2009, basis points)
Source ECB
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Chart 4 Gross Operating Surplus and stock market
based earnings growth ( quarterly data, 1996Q1 to
2008Q4, annual growth rates)
Source ECB