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Credit and Business Cycles - Part 1

During the crisis, it has become more difficult to obtain bank loans since credit standards have been tightened from a lenient pre-crisis level. Many firms and households have opted for a consolidation path, and corporate confidence in the banking sector's willingness and ability to always meet the demand for credit and liquidity in an economic downturn may have weakened. This has dampened the demand for credit. There are no indications that the banks' lending capacity has generally been an impediment to the development in lending. Total credit remains high in a long-term perspective.