20211109_LargeModelST
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Lending impact<br />
Impact of policies on lending volumes to the nonfinancial<br />
private sector 2020-2022<br />
• Policies can moderate the contraction in lending<br />
volumes to the non-financial private sector (and<br />
help reduce the lending margins)<br />
• The strongest effect on the loan growth to the nonfinancial<br />
corporates can be attributed to capital<br />
release and the targeted impact of national<br />
guarantee schemes<br />
• The package may not be sufficient to support<br />
lending in a prolonged and severe recession<br />
scenario (with weak credit demand)<br />
19<br />
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