Spire Healthcare : Credit Conditions Survey Report for the Fourth Quarter of 2019

Central Bank of Nigeria

Credit Conditions

Survey Report

Q4 2019

Statistics Department

January 2020

Table of Contents

		Page
Executive Summary	2
1.0	Introduction	3
2.0	Secured lending to households	3
3.0	Unsecured lending to households	6
4.0	Lending to corporates and small businesses	8
List of figures
	Charts for secured lending	4-5
	Chart for unsecured lending	7-8
	Charts for corporate lending	9-11
Annex: Tables
	Table 1: Analysis on secured lending to households	12
	Table 2: Analysis on unsecured lending to households	13
	Table 3: Analysis on corporate lending	14-16

1

Executive Summary

Supply: The availability of secured credit to households increased in Q4 2019 and was expected to increase in the next quarter. Improving liquidity positions was the major factor for the increase in secured credit.

Lenders reported that the availability of unsecured credit to households increased in Q4 2019, but it is expected to fall in Q1 2020. Most lenders adduced market share objectives for this increase.

The overall availability of credit to the corporate sector increased in Q4 2019 and was expected to increase in the next quarter. Improved market share objectives was the major factor contributing to the increase.

Demand: Demand for secured lending for house purchase increased in Q4 2019 and lenders expect demand for secured lending to increase in the next quarter. The proportion of loan applications approved increased even though lenders maintained the credit scoring criteria.

Demand for total unsecured lending from households increased in the current quarter, and is expected to increase in the next quarter. In spite of lenders' resolve to retain the credit scoring criterion, the proportion of approved unsecured loan applications increased in the current quarter and is expected to further increase in the next quarter.

Lenders reported increased demand for corporate credit from all firm sizes in Q4 2019. They also expect increased demand from all firm sizes in the next quarter.

Defaults: Secured loan performance, as measured by default rates, improved in the review quarter, and lenders still expect lower default rates in the next quarter.

Total unsecured loan performance to households, as measured by default rates, improved in Q4 2019 and is expected to further improve in the next quarter.

Corporate loan performance improved across all sizes of firm in the current quarter. Lenders expect lower default rates for all firm sizes in the next quarter.

Loan pricing: Lenders reported that the overall spreads on secured lending rates on approved new loans to households relative to MPR narrowed in Q4 2019 but was expected to remain unchanged in the next quarter.

The overall spreads on unsecured lending widened in Q4 2019 and were expected to widen in the next quarter.

Changes in spreads between bank lending rates and MPR on approved new loan applications narrowed for all firm sizes in the current quarter and were expected to narrow for all business sizes in Q1 2020.

2

Credit Conditions Survey Report

1.0 Introduction

Part of the Central Bank of Nigeria's (CBN) mandate is to nurture an efficient monetary and financial system in order to promote macroeconomic stability in Nigeria. To achieve this, the Bank needs to, among others, understand trends and developments in credit conditions. This quarterly survey of bank lenders is an input to this work. Lenders were asked about trends and developments in credit conditions in the current and next quarters. The survey covers secured and unsecured lending to households, lending to public non-financial corporations (PNFCs), small businesses and other nonfinancial corporations (OFCs). This survey serves as an input into the Monetary Policy document, which presents the Bank's assessment of the latest trends in lending to the Nigerian economy.

This report presents the results of the Q4 2019 survey, which was conducted from December 16, 2019 to January 3, 2020. The results are based on lenders' own responses to the survey, and do not necessarily reflect the Bank's views on credit conditions. To calculate aggregate results, each lender is assigned a score based on their response. Lenders who report that credit conditions have changed" a lot" are assigned twice the score of those who report that conditions have change "a little". These scores are then weighted by lenders' market shares. The results are analyzed by calculating net percentage balances - the difference between the weighted balance of lenders reporting that demand was higher versus lower or terms and conditions were tighter versus loosened. The net percentage balances are scaled to lie between ±100.

The Q4 2019 credit condition survey for households, small businesses and corporate entities indicated increased availability of both secured and secured credit to households, as well as corporates entities. Spreads on overall secured lending to households and all firm sizes narrowed in Q4 2019 and were expected to remain unchanged in Q1 2020. Lenders reported that demand for total unsecured lending from households increased in the current quarter, and is expected to increase in the next quarter. Demand for corporate lending increased across all firm sizes in the review quarter.

2.0 Secured lending to households

In the current quarter relative to the previous quarter, lenders reported an increase in the availability of secured credit to households. Improving liquidity positions and increased market share objectives were major factors behind the increase. Availability of secured credit was expected to increase in the next quarter as well, with increased market share objectives and improving liquidity positions as the likely contributory factors (Table 1, Item 6; Figs. 2.1 & 2.2).

The proportion of loan applications approved in the quarter increased, even though lenders left their credit scoring criteria unchanged in Q4 2019. Lenders expect to loosen the credit scoring

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criteria and expect the proportion of approved households' loan applications in Q1 2020 to increase (Table 1, Items 3 & 4).

Maximum Loan to Value (LTV) ratios increased in the current quarter and was expected to remain unchanged in the next quarter (Table 1, Item 5). Lenders were willing to lend at low LTV ratios (75% or less) in the current and next quarters. Similarly, they were willing to lend at high LTV (more than 75%) in both the current and next quarters (Table 1, Item 10). The average credit quality on new secured lending improved in Q4 2019 and was expected to also improve in Q1 2020 (Table 1, Item 9).

Lenders reported that the overall spreads on secured lending rates to households relative to MPR narrowed in Q4 2019 but were expected to remain unchanged in the next quarter. Spreads for all lending types narrowed in the current quarter but were expected to remain unchanged in the next quarter (Table 1, Item 5a; Fig. 2.7).

Households demand for lending for house purchase increased in Q4 2019 and was expected to increase in the next quarter. For the current quarter, households demand for all lending increased and is expected to increase for the next quarter (Table 1, Item 1a; Figs. 2.3 & 2.4).

Households demand for consumer loans rose in the current and is expected to rise in the next quarter. Similarly, demand for mortgage/remortgaging from households rose in Q4 2019 and is expected also rise in Q1 2020 (Table 1, Items 1b, 1c & 2).

Secured loan performance, as measured by default rates, improved in Q4 2019 and is expected to improve in Q1 2020. Similarly, bank lenders reported lower losses given default by households in the current quarter and expect lower losses in the next quarters (Table 1, Items 7 & 8; Figs. 2.5 & 2.6).

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5

3.0 Unsecured lending to households

The availability of unsecured credit provided to households increased in the current quarter and is expected to increase in the next quarter, with improvement in market share objectives and higher appetite for risk as factors responsible for the increase (Table 2, Item 6; Figs. 3.1 and 3.2).

In spite of lenders' resolve to leave the credit scoring criterion for total unsecured loan applications unchanged in the review quarter, the proportion of approved total loan applications for households increased. Lenders expect to tighten the credit scoring criteria in the next quarter but anticipate that the proportion of approved loan applications in Q1 2020 will increase (Table 2, Items 3c & 4c; Fig. 3.8).

The proportion of approved credit card loans increased in Q4 2019, though the credit scoring criteria for granting credit card loans remained unchanged (Table 2, Items 3a & 4a). Similarly, the proportion of approved overdraft/personal loans applications increased, as lenders loosened the credit scoring criteria (Table 2, Items 3b & 4b).

Lenders reported that spreads on credit card lending, unsecured approved overdrafts/personal loans applications and overall unsecured lending widened in the current quarter, and are expected to widen in the next quarter (Table 2, Items 5a - 5c; Fig. 3.7).

The limit on unsecured credit cards on approved new loan applications increased in Q4 2019 and was expected to be increased in the next quarter. However, the minimum proportion of credit card balances to be paid on approved new loan applications remained unchanged in the review quarter and was expected to remain unchanged in the next quarter (Table 2, Items 5d & 5e).

Maximum maturities on approved unsecured new loan applications lengthened in the current quarter, and are expected to lengthen in the next quarter (Table 2, Item 5f).

Demand for unsecured credit card lending from households increased in Q4 2019 and is expected to increase in Q1 2020. Similarly, demand for unsecured overdraft/personal loans from households increased in Q4 2019 and is expected to increase in Q1 2020 (Table 2, Items 1a & 1b; Figs. 3.3 and 3.4).

Lenders experienced lower default rates on credit card and on overdrafts/personal lending to households in the current quarter, and expect similar rates in the next quarter (Table 2, Items 7a

• 7b). Losses given default on total unsecured loans to households and overdraft/personal loans to households improved in Q4 2019 and were expected to improve in the next quarter (Table 2, Item 8c; Figs. 3.5 and 3.6).

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4.0 Lending to corporates and small businesses

Credit conditions in the corporate sector vary by size of the business. The survey asked lenders to report developments in the corporate sector by large and medium-size PNFCs, OFCs and small businesses1.

The overall availability of credit to the corporate sector increased in Q4 2019 and was expected to increase in Q1 2020. This was driven by market share objectives, changing sector-specific risks, favourable economic conditions, changing appetite for risk and improved liquidity conditions (Table 3, Items 4a & 4b). Lenders reported that the prevailing commercial property prices negatively influenced credit availability of the commercial real estate sector in the current quarter. However, the prevailing commercial property prices positively influence secured lending to PNFCs in the current quarter (Table 3, Items 4c1 & 4c2).

Availability of credit increased for all business sizes in Q4 2019. Lenders expect the same trend in the next quarter (Table 3, Item 1; Fig. 4.1).

Spreads between bank lending rates and MPR on approved new loan applications narrowed for all firm sizes in Q4 2019 and were expected to narrow for all business sizes in Q1 2020 (Table 3, Items 6a1, 6b1, 6c1 & 6d1; Figs. 4.7 and 4.8).

The proportion of loan applications approved for all business sizes increased in the current quarter and were expected to further increase in Q1 2020 (Table 3, Items 5a-c).

Lenders required stronger loan covenants from all business sizes, except for large PNFCs and OFCs, in the current quarter. However, they reported that they would require stronger loan

1 Small businesses are defined as those with an annual turnover of under N5 million. Medium-size corporates are defined as those with an annual turnover of between N5 million and N100 million. Large corporates are defined as those with an annual turnover of more than N100 million

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covenants for all firm sized businesses in the next quarter, except for OFCs (Table 3, Items 6a5, 6b5, 6c5 & 6d5).

For the current quarter, fees/commissions on approved new loan applications fell for all firm sizes, except for large PNFCs. However, lenders expect fees/commissions on approved new loan applications to fall for all firm sized businesses except for OFCs in Q1 2020 (Table 3, Items 6a2, 6b2, 6c2 & 6d2).

All firm sizes benefitted from an increase in maximum credit lines on approved new loan applications in Q4 2019, except for OFCs. Similarly, all firm sizes are expected to benefit from an increase in maximum credit lines on approved new loan applications in Q4 2019, except for medium PNFCs (Table 3, Items 6a4, 6b4, 6c4 & 6d4).

More collateral requirements were demanded from all firm sizes on approved new loan application in Q4 2019 and lenders expect to demand for more collateral from all firm sizes in the next quarter, expect for medium and large PNFCs (Table 3, Items 6a3, 6b3, 6c3 & 6d3).

Demand for corporate lending increased for all business sizes in the current quarter, and was expected to increase for all business sizes in the next quarter. The most significant factors that influenced demand for lending in the review quarter were the increase in inventory finance and capital investment, and they were expected to remain the main drivers in the next quarter (Table 3, Items 2 & 3; Figs. 4.3 and 4.4).

Corporate loan performance as measured by the default rates improved for all businesses in Q4 2019. Lenders still expect lower default rates on lending to all sized businesses in the next quarter (Table 3, Item 7; Figs. 4.5 and 4.6).

The average credit quality on newly arranged PNFCs borrowing facilities improved for both quarters. The target hold levels2 associated with corporate lending improved in the current quarter and are expected to improve further in Q1 2020. Loan tenors on new corporate loans improved in Q4 2019 and are expected to improve further in the next quarter. Draw down on committed lines by PNFCs improved in the current quarter, and is expected to improve in the next quarter (Table 3, Item 9).

2 Share of risks that lenders wish to hold of deals that they underwrite in the short term

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Table 1: Analysis on Secured Lending to Households

QUESTION			2015			2016			2017				2018				2019
	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
1(a). How has demand for secured lending for House purchase from HOUSEHOLDS	Current quarter	33.4	-6.1	1.5	-15.3	0.7	39.2	13.1	3.8	-2.0	0.5	6.2	16.5	-1.2	13.7	-6.8	-5.5	-2.4	-0.3	-6.2	13.6
changed?	Next quarter	21.7	26.0	29.4	-3.7	10.9	34.6	5.3	24.1	6.0	9.7	29.3	23.5	3.3	18.4	13.2	7.7	10.7	21.1	1.8	13.6
of which: Demand for prime lending	Current quarter	36.9	-5.2	6.0	5.8	0.5	39.4	13.0	-10.3	-2.1	5.7	6.9	18.6	4.2	8.8	2.6	-4.7	-10.6	1.6	9.6	12.3
Next quarter	17.1	15.1	25.9	13.6	15.8	42.4	13.2	-14.7	12.1	11.0	10.1	21.2	7.5	15.5	9.3	2.7	10.7	15.1	16.1	10.9
of which: Demand for buy to let lending	Current quarter	23.5	-27.1	-13.0	-26.4	-11.9	19.8	2.0	6.7	-11.1	0.3	-13.0	-8.4	-6.7	5.0	2.7	-9.7	-18.2	-8.0	-16.2	13.4
Next quarter	16.4	29.1	19.0	-19.5	-6.1	35.3	-7.3	0.7	0.8	0.0	-7.5	-10.2	-2.2	5.9	13.6	-2.1	6.9	19.7	-3.7	13.4
of which: Demand for other lending	Current quarter	24.4	-13.5	-20.3	-28.1	-11.9	14.1	9.6	3.4	-12.9	-5.2	-11.8	19.5	3.7	20.7	2.6	8.3	-11.9	-11.4	-8.3	24.5
Next quarter	15.9	21.9	16.7	0.6	-6.5	29.8	-4.0	10.7	0.8	10.7	-8.8	27.6	7.2	13.9	23.2	11.4	6.9	27.2	-1.4	24.5
1(b). How has demand for secured lending for Consumer Loans from HOUSEHOLDS	Current quarter	38.8	-2.8	15.0	-1.1	18.3	48.6	21.7	30.7	5.6	14.9	9.3	22.6	9.0	39.2	15.4	12.0	3.1	-4.8	30.9	36.7
changed?	Next quarter	21.5	31.2	38.4	11.0	9.7	43.2	16.2	38.6	12.5	8.2	11.7	29.6	20.9	25.8	24.9	28.8	23.1	28.0	42.1	39.3
1(c). How has demand for secured lending for Mortgage/re-mortgate from	Current quarter	23.7	1.3	1.5	-22.4	10.4	33.5	13.5	5.3	-2.0	-1.4	6.3	-7.7	6.9	-0.2	-9.6	-6.7	-15.9	-9.5	1.7	13.6
HOUSEHOLDS changed?	Next quarter	22.3	20.9	29.4	0.6	1.7	33.5	3.4	23.3	16.7	9.7	8.9	0.4	2.2	5.5	3.7	15.4	6.5	9.2	7.4	13.5
2. How has demand for secured lending for small businesses from HOUSEHOLDS	Current quarter	29.2	-7.7	0.5	-7.2	12.1	30.4	23.1	29.8	-1.0	21.8	17.6	7.9	17.7	18.2	-1.8	17.2	24.0	17.3	33.6	43.8
changed?	Next quarter	20.8	26.1	28.0	6.1	25.6	27.5	30.0	43.6	29.0	42.4	41.1	14.1	27.5	15.5	17.1	22.6	28.9	31.3	43.3	32.9
3. How have credit scoring creteria for granting loan applications by HOUSEHOLDS	Current quarter	1.6	1.1	2.3	-24.4	3.8	11.9	11.9	20.4	6.4	13.4	7.1	-3.8	0.0	0.0	0.0	0.0	7.7	0.0	0.0	0.0
changed?	Next quarter	1.6	0.0	3.1	-11.1	0.5	12.8	10.4	29.9	9.4	9.7	-6.1	6.1	9.0	0.0	8.8	-4.0	0.0	13.4	0.0	-6.8
	Current quarter	28.6	-13.5	-5.1	-4.2	0.2	-5.2	-13.2	4.1	-11.7	10.1	17.7	-0.9	0.0	10.3	-2.7	14.8	-3.3	7.8	14.6	18.6
4. How has the proportion of HOUSEHOLD loan applications being approved changed?	Next quarter	19.7	24.9	23.3	11.9	13.0	-2.2	7.5	24.3	3.9	17.7	21.7	11.2	22.6	14.0	21.5	20.7	19.8	17.4	23.4	10.9
	Current quarter	1.3	0.0	-11.4	-3.5	-0.5	12.5	-11.5	-3.1	-1.7	-6.2	-0.9	-4.3	1.3	0.0	3.4	0.0	0.0	4.0	-10.5	6.1
5(a). How have the overall secured lending spreads changed?	Next quarter	-4.7	0.0	-3.9	-3.5	4.6	0.0	-6.2	4.0	-18.2	-2.3	-4.3	-5.0	1.8	4.0	0.0	0.0	2.2	-4.2	0.0	0.0
of which: Spreads on prime lending	Current quarter	-1.7	-2.0	-16.5	-4.0	-0.6	9.6	-4.7	-4.5	-3.0	-6.2	-5.1	-4.3	0.0	0.0	3.4	0.0	0.0	5.2	-11.0	5.1
Next quarter	-5.5	0.0	-4.3	-9.2	5.0	2.6	-0.2	-17.0	-18.1	-2.3	-4.3	-5.0	-8.0	2.6	0.0	0.0	2.3	0.1	0.0	0.0
of which: Spreads on buy to let lending	Current quarter	0.2	-0.1	-8.8	-3.8	2.8	13.2	-3.4	-14.1	-0.1	-4.5	-4.3	-4.3	0.0	0.0	4.3	0.0	0.0	12.7	-12.3	5.5
Next quarter	-5.7	0.0	-5.0	-14.5	7.3	3.1	-0.2	4.5	-19.2	-2.6	-5.0	-5.0	-9.2	-4.9	0.0	0.0	2.5	5.4	0.0	0.0
of which: Spreads on other lending	Current quarter	0.2	-0.1	-13.0	-3.5	2.2	15.1	-4.1	-8.2	-4.9	-4.4	-4.9	-4.3	0.0	0.0	3.5	0.0	0.0	2.0	-11.3	5.5
Next quarter	-6.0	0.0	-9.7	-3.5	6.2	3.6	-9.2	-7.2	-18.7	-2.5	-4.9	-5.0	-9.2	3.1	0.0	0.0	2.5	5.2	0.0	0.0
5(b). How have fees on secured lending changed?	Current quarter	2.2	-14.3	-19.2	0.0	0.0	0.0	0.0	-25.7	-4.2	-1.1	6.5	0.0	0.0	0.0	0.0	0.0	0.0	0.0	-10.5	5.3
Next quarter	-4.2	-5.1	-3.8	0.0	0.0	0.0	-7.1	-23.1	-4.3	5.7	-1.1	0.0	-2.6	-3.5	0.0	0.0	0.0	-4.2	-2.4	0.0
5(c). How have the maximum loan to value ratios changed?	Current quarter	-10.9	8.1	-3.8	-11.4	0.0	0.0	0.0	-10.2	0.0	-3.3	-7.2	10.3	-1.5	0.0	0.0	0.0	0.0	0.0	-10.5	-4.7
Next quarter	-6.6	0.0	-3.8	-11.4	0.0	0.0	0.0	-23.1	0.0	5.7	-1.1	0.0	-2.6	-5.4	0.0	0.0	-3.1	4.2	0.0	0.0
5(d). How have the maximum loan to income ratios changed?	Current quarter	0.0	-4.6	-3.8	-4.1	3.6	0.0	0.0	-1.1	0.0	-3.3	-1.1	-1.3	-1.5	0.0	0.0	0.0	0.0	0.0	-10.5	-4.7
Next quarter	-4.5	-5.1	-3.8	-2.0	-3.0	0.0	0.0	-11.5	0.0	7.6	-1.1	0.0	-11.3	-5.9	0.0	0.0	0.0	-4.2	-2.4	0.0
6. How has the availability of secured credit provided to households changed?	Current quarter	2.6	-22.6	18.0	-13.1	-36.9	-22.4	-0.5	-44.0	-29.6	-12.5	-28.4	3.8	-9.6	-20.8	-2.2	-10.0	-15.9	-10.5	-19.4	-31.6
Next quarter	-2.6	-22.5	-16.2	-25.8	-17.3	-33.3	9.1	-32.4	-25.5	-30.4	-13.0	-22.5	-21.7	-19.1	-4.5	-3.5	-15.1	-12.8	-12.9	-25.0
Factors contributing to changes in credit availability
Changing economic outlook	Current quarter	2.6	-43.8	-16.2	-57.0	-54.1	-40.3	-55.0	-48.4	-33.4	-28.2	-32.7	-13.7	-19.1	-20.9	-4.5	-26.6	-11.1	-7.3	-12.1	-15.1
Next quarter	-13.2	-30.4	-25.2	-47.2	-18.0	-21.8	-24.8	-22.7	-27.9	-30.5	-16.1	-20.0	-20.2	-23.6	-4.5	-6.3	-21.1	-7.6	-9.0	-2.7
Market share objectives	Current quarter	-12.6	-30.7	-4.0	-35.3	-30.4	-19.3	-22.7	-23.8	-21.1	-0.7	-24.0	-12.8	-5.4	-21.1	5.6	-6.8	-4.7	-5.6	-34.9	-24.8
Next quarter	-11.0	-21.6	-22.7	-29.5	-19.8	-31.3	3.0	-8.4	-19.4	-8.1	-27.7	-12.2	-13.3	-19.9	-8.1	-6.0	-14.9	-14.8	-12.9	-24.8
Changing appetite for risk	Current quarter	-14.2	-51.0	-22.2	-47.0	-28.2	-35.1	-33.7	-23.0	-25.0	-23.1	-21.2	4.8	-15.2	-16.4	-2.1	-15.6	-18.2	-25.9	-23.1	-8.0
Next quarter	-4.5	-39.1	-19.2	-35.1	-10.6	-21.2	-6.5	-28.2	-23.1	-19.3	-37.1	-22.0	-23.5	-18.3	-8.1	-0.6	-8.4	-14.2	-15.7	-8.0
Tight wholesale funding conditions	Current quarter	6.3	-24.4	-4.4	-38.3	-19.3	-17.3	-24.7	-40.1	-32.4	-13.8	-21.0	0.0	-3.0	-5.7	2.3	-1.7	-6.2	-11.2	1.9	-12.0
Next quarter	0.6	-12.3	2.7	-22.9	-6.3	-18.4	-19.9	-33.1	-31.5	-26.4	-32.8	-3.4	-13.6	-5.9	-4.5	-1.7	-5.3	-8.7	-10.5	-10.6
Changing liquidity positions	Current quarter	15.3	-27.6	5.8	-33.7	-22.9	-23.2	-30.7	-27.9	-17.7	-24.1	-30.4	0.2	-13.9	-26.6	0.6	-10.2	-7.4	-16.3	-4.6	-27.4
Next quarter	8.1	-19.7	-8.6	-24.9	-12.6	-19.8	-21.2	-28.2	-17.5	-31.2	-44.3	-24.9	-23.3	-14.9	-4.5	-3.7	-8.4	-16.9	-15.7	-16.3
	Current quarter	-25.5	5.2	0.1	-9.0	-5.0	22.9	10.9	33.0	-11.3	-12.1	-3.5	12.7	2.2	-7.9	-1.8	6.2	-2.9	-16.4	-14.4	-15.3
7. Has the default rate on secured loans to households changed?	Next quarter	-24.3	-19.2	-12.5	-15.5	-18.0	18.8	-4.9	-24.0	-28.6	-30.9	-21.6	-34.1	-16.7	-24.8	-20.1	-28.5	-16.1	-24.9	-19.8	-19.6
8. How have losses given default to households changed?	Current quarter	-18.7	-8.6	-7.7	-21.0	-7.6	6.5	3.0	11.4	-11.5	-14.5	-8.4	15.5	3.0	-17.9	-5.1	-0.6	-2.3	-7.6	-11.1	-2.9
	Next quarter	-24.1	-13.0-11.5-25.8	-23.2	-0.4	-12.4	-28.4	-17.6	-23.6	-26.1	3.7	-32.7	-19.2	-12.4	-12.5	-21.6	-17.9	-18.5	-20.9
9. How has the average credit quality of new secured lending to HOUSEHOLDS	Current quarter	26.6	30.5	25.2	30.9	25.3	22.7	20.9	27.7	25.1	15.0	14.0	-0.5	7.4	19.1	10.9	15.9	11.7	15.5	25.4	22.5
changed?	Next quarter	28.2	32.4	29.2	20.5	28.5	17.9	11.4	2.9	34.3	12.2	1.1	-8.4	-5.7	18.4	12.2	20.1	23.6	15.7	23.8	9.3

10. How has the availability of households secured credit to the following types of borrowers changed:

	Current quarter	-8.2	11.7	20.0	-17.1	9.3	-12.1	-13.5	-16.2	-9.4	8.2	0.0	4.8	-6.1	7.1	4.5	14.7	-0.9	21.2	-9.8	14.0
Borrowers with low loan to value ratios (75% or less)	Next quarter	-12.6	6.5	16.7	-20.8	12.3	-13.3	-22.3	-2.9	-6.2	11.6	15.1	9.6	4.4	10.9	16.4	14.7	17.4	21.3	5.3	14.0
	Current quarter	-9.2	0.0	-0.1	-9.7	12.9	-15.0	-5.0	-11.8	-7.5	-2.1	-19.0	-20.3	4.7	-5.4	-8.6	3.0	-1.3	10.8	-2.3	17.0
Borrowers with high loan to value ratios (more than 75% )	Next quarter	-9.2	-8.5	-2.3	-6.2	-2.6	-17.1	-7.7	-3.4	-3.1	-2.8	-26.8	-8.9	9.2	-5.4	3.2	5.3	9.4	10.8	-2.4	17.0

12

Table 2: Analysis on Unsecured Lending to Households

QUESTIONS			2015			2016			2017				2018				2019
	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
1(a). How has demand for unsecured credit cards lending from HOUSEHOLDS	Current quarter	11.5	11.1	18.9	23.6	10.2	33.9	20.4	-21.8	-5.6	20.3	13.4	-11.1	26.6	24.9	-4.1	13.3	8.4	13.4	33.5	23.4
changed?	Next quarter	16.7	28.7	27.4	46.4	26.4	28.0	23.7	10.9	11.5	12.1	11.6	11.6	-1.9	18.9	3.9	20.6	17.7	3.3	36.0	32.6
1(b). How has demand for unsecured overdraft/ personal loans from	Current quarter	29.4	14.0	14.3	22.6	3.2	27.7	17.6	-1.1	7.2	17.4	11.5	-4.0	11.0	30.2	7.3	27.9	-0.8	16.6	41.3	36.4
HOUSEHOLDS changed?	Next quarter	21.9	33.4	12.8	50.1	16.4	18.7	24.3	9.8	5.4	32.1	10.6	8.2	-7.7	20.9	21.0	31.1	28.4	37.1	47.8	38.5
1(c). How has demand for total unsecured lending from HOUSEHOLDS changed?	Current quarter	16.7	14.0	10.7	11.9	1.2	19.6	15.1	3.8	-3.5	14.0	14.5	-20.0	4.7	24.8	9.7	30.1	0.1	16.4	19.4	27.9
	Next quarter	9.0	33.4	9.1	39.9	7.2	22.3	24.3	9.8	1.0	18.0	6.8	-23.4	-8.0	15.4	14.1	31.8	20.4	16.7	29.9	27.2
2(a). How has demand for unsecured credit cards lending from SMALL	Current quarter	-4.1	11.1	13.6	-12.6	22.6	28.3	10.9	9.1	-6.8	23.3	5.5	21.2	12.9	20.7	4.0	14.1	16.5	-0.7	12.1	25.9
BUSINESSES changed?	Next quarter	15.6	10.8	19.3	15.2	17.4	22.4	19.0	16.0	-16.0	20.1	13.4	-5.9	-1.2	24.0	4.5	22.5	25.1	-4.6	19.9	33.6
2(b). How has demand for unsecured overdraft/ personal loans from SMALL	Current quarter	1.2	6.6	2.4	-3.1	28.0	28.3	17.3	-3.7	9.5	29.3	16.5	12.0	23.6	30.0	2.1	21.2	7.0	8.5	38.8	28.6
BUSINESSES changed?	Next quarter	17.0	-1.8	7.4	19.3	26.6	27.5	16.5	9.8	4.5	37.9	22.3	-17.9	4.7	33.0	19.5	45.7	24.0	16.5	35.1	30.0
2(c). How has demand for total unsecured lending from SMALL BUSINESSES	Current quarter	-1.6	-1.6	2.6	-5.3	23.2	27.5	10.5	2.0	0.1	21.8	13.6	-2.7	10.6	26.5	17.5	32.7	3.7	25.6	28.5	22.7
changed?	Next quarter	17.7	-1.8	8.2	11.6	23.3	29.8	16.5	9.8	-0.3	28.2	2.1	-15.1	8.9	18.6	10.2	34.5	17.2	16.5	29.4	29.5
3(a). How have credit scoring creteria for granting credit card loan applications	Current quarter	0.0	13.8	8.0	1.1	4.8	13.8	20.8	28.6	2.5	14.6	0.0	18.7	0.8	0.0	0.0	0.7	0.0	-0.2	0.0	0.0
by HOUSEHOLDS changed?	Next quarter	0.8	13.8	20.7	-12.9	7.6	14.7	-4.8	31.5	7.9	32.0	5.9	26.5	14.7	7.5	0.0	4.4	0.0	0.0	-0.2	-0.2
3(b). How have credit scoring creteria for granting overdraft/personal loan	Current quarter	0.0	12.4	6.8	0.9	3.8	13.9	22.7	32.6	8.3	22.3	6.3	16.4	0.0	9.5	0.0	-10.2	8.5	-0.1	-7.9	0.0
applications by HOUSEHOLDS changed?	Next quarter	1.6	12.4	17.7	-10.9	6.8	14.9	-3.7	28.0	6.9	29.5	11.0	0.0	13.4	15.9	0.0	3.8	0.0	6.3	2.4	2.5
3(c). How have credit scoring creteria for granting total unsecured loan	Current quarter	0.0	12.4	19.4	3.1	3.8	15.4	22.7	32.6	3.0	24.6	7.2	5.3	7.0	10.4	6.4	0.0	2.5	-0.1	0.0	0.0
applications by HOUSEHOLDS changed?	Next quarter	-0.5	12.4	19.4	-9.1	11.9	16.4	-3.7	28.6	7.6	32.5	12.5	-12.9	14.4	17.4	0.0	4.2	-9.0	19.4	3.3	3.5
4(a). How has the proportion of HOUSEHOLD credit card loan applications being	Current quarter	28.7	8.5	11.8	1.4	-13.2	11.1	-15.0	-12.6	-14.1	-2.9	-1.0	0.0	-3.8	0.0	4.7	9.0	-15.2	-17.7	21.3	18.8
approved changed?	Next quarter	4.8	28.5	17.1	1.4	1.7	11.1	3.5	-2.5	-2.9	-2.9	-13.9	13.3	6.5	2.7	18.4	14.8	9.7	3.6	21.3	18.8
4(b). How has the proportion of HOUSEHOLD overdraft/personal loan	Current quarter	29.8	-6.3	-1.0	-4.3	-22.7	13.2	-18.9	-14.8	-18.3	-16.7	-16.6	-1.3	-11.2	5.3	8.2	16.4	-8.0	7.3	26.2	23.1
applications being approved changed?	Next quarter	-0.5	-0.8	-6.2	-12.7	-15.9	12.7	-1.7	-17.5	-6.0	-7.9	-9.1	10.3	4.0	7.9	22.4	22.6	12.5	18.2	31.9	31.5
4(c). How has the proportion of HOUSEHOLD total loan applications being	Current quarter	16.5	-7.9	-11.2	-6.3	-26.0	10.0	-18.9	-26.5	-15.3	-13.4	-14.0	-4.0	-11.8	5.7	2.0	15.0	-16.9	-5.7	29.5	26.4
approved changed?	Next quarter	-0.5	-0.8	-6.2	-12.7	-15.9	12.7	-1.7	-17.5	-6.0	-7.9	-9.1	10.3	4.0	7.9	22.4	22.6	12.5	18.2	31.9	31.5
5(a). How have spreads on credit cards changed?	Current quarter	-3.1	-14.4	-15.5	-8.2	-12.9	-1.0	-8.1	6.5	-5.5	-9.1	3.3	0.0	-5.3	-7.8	0.0	-4.2	0.0	0.0	-1.4	-1.4
Next quarter	0.8	0.0	-2.7	-8.4	-2.9	14.2	-3.7	21.2	-2.6	5.7	12.8	13.3	10.4	0.0	0.0	0.0	0.0	0.0	-1.4	-2.0
5(b). How have spreads on overdraft/personal loans changed?	Current quarter	-10.3	-10.5	-19.9	-13.3	-5.7	4.3	-2.8	-0.1	-9.1	-11.6	1.7	0.0	0.0	0.0	-5.2	-10.9	-14.0	-14.3	-1.2	-1.2
Next quarter	0.7	-0.5	-2.3	-18.5	-3.1	9.0	-9.2	18.9	-2.2	5.1	-2.2	23.3	0.0	0.0	0.0	-7.0	0.0	0.0	-1.2	-1.6
5(c). How have spreads on overall unsecured lending changed?	Current quarter	-6.9	-15.0	-21.8	-18.7	-4.9	10.1	-2.8	-0.1	-1.4	-5.4	6.6	0.0	0.0	0.0	3.4	-3.2	0.0	0.0	-1.4	-1.7
Next quarter	-3.6	-5.2	-7.5	-19.2	-2.3	15.3	-9.2	18.9	-2.4	5.2	8.9	25.8	0.0	0.0	0.0	-3.2	0.0	0.0	-1.4	-2.0
5(d). How have unsecured credit card limits changed?	Current quarter	-3.1	-0.6	-14.3	0.0	3.8	11.5	-3.7	4.4	-2.5	2.9	10.2	5.5	0.0	0.0	0.0	0.0	0.0	0.0	-1.6	-3.4
Next quarter	0.0	-0.6	0.0	11.8	10.9	16.6	-11.6	21.5	2.8	6.2	13.6	5.5	-5.3	7.8	0.0	0.0	0.0	0.0	-1.6	-3.4
5(e). How has the minimum proportion of credit cards balances to be paid	Current quarter	1.6	0.0	0.0	-0.5	2.3	11.4	0.4	-1.2	-0.8	1.0	3.4	0.0	15.0	5.6	2.5	3.3	0.0	0.2	6.6	0.0
changed?	Next quarter	1.6	0.0	0.0	21.3	6.3	11.4	-6.1	4.9	5.0	9.4	20.9	11.6	10.5	11.6	2.5	7.0	5.6	0.0	6.6	0.0
5(f). How have maximum maturities on loans changed?	Current quarter	5.1	12.9	10.9	13.6	2.3	11.6	3.0	3.4	4.7	7.0	6.4	2.4	12.9	-0.2	3.6	0.4	3.4	-13.6	-6.5	-6.6
Next quarter	6.1	20.2	13.8	6.5	2.3	16.7	3.1	6.6	8.7	-9.1	6.4	25.7	21.7	0.1	3.6	0.6	-2.2	-13.8	-6.5	-6.6
6. How has the availability of unsecured credit provided to households changed?	Current quarter	-13.9	-18.6	-11.7	-26.6	-13.5	-33.1	-11.3	-34.3	-27.6	-19.2	-15.0	-4.7	-13.3	-12.6	2.4	-6.6	-12.5	0.0	-11.1	-14.9
	Next quarter	-9.7	-17.8	-13.0	-10.6	-9.2	-27.9	-14.5	-35.5	-32.7	-21.3	-11.0	-20.2	-18.3	-15.9	-9.1	-10.2	2.5	-4.2	0.5	-14.7
Factors contributing to changes in credit availability
Changing economic outlook	Current quarter	-2.6	-5.2	-15.8	-42.2	-25.7	-45.8	-10.6	-38.6	-44.9	-23.9	-20.3	-13.8	-35.2	-12.0	-11.0	-10.7	-8.1	-2.5	8.8	-1.7
Next quarter	-8.4	-9.2	-11.7	-28.6	-13.4	-24.3	-10.2	-41.6	-43.3	-30.6	-0.2	-8.6	-27.2	-5.9	-5.0	-11.0	-8.9	-4.2	0.5	-1.5
Market share objectives	Current quarter	-10.1	-22.5	-7.9	-25.9	-15.0	-27.1	-18.0	-5.8	-22.4	11.5	-11.5	-1.1	-9.4	-10.7	-20.5	-22.1	-12.5	-16.2	-17.4	-17.7
Next quarter	-17.7	-21.7	-4.4	-15.1	-20.4	-26.9	-15.4	-7.4	-29.6	-14.4	4.3	-21.4	-15.3	-10.9	-19.4	-10.9	5.8	-14.8	-5.6	-17.5
Changing appetite for risk	Current quarter	-7.6	-13.8	-16.6	-39.6	-29.2	-32.0	-24.6	-29.2	-33.4	-14.0	-14.2	-17.3	-17.4	-16.5	-9.5	-15.2	-17.4	-10.3	-9.9	-5.5
Next quarter	-18.8	-14.9	-10.2	-26.2	-17.9	-27.9	-24.1	-30.1	-32.4	-19.2	16.9	-21.4	-18.2	-10.8	-12.0	-6.3	-11.3	-4.2	-2.8	-5.5
Changing cost/ availability of funds	Current quarter	-22.8	-25.3	-11.2	-30.5	0.8	-24.1	-8.2	-19.0	-15.6	-19.2	-10.0	-5.4	-16.8	-14.7	-3.4	-7.6	-6.6	0.0	5.5	-5.5
Next quarter	-13.6	-23.9	-13.0	-28.2	-9.2	-18.4	-8.3	-22.2	-20.4	-29.7	1.8	-28.2	-26.2	-15.0	-8.5	-3.1	-3.1	-4.2	-2.8	-5.5
7(a). How has the default rate on credit card loans to households changed?	Current quarter	-13.4	18.3	1.6	-31.9	-10.1	5.2	-8.4	19.1	-13.3	1.6	0.6	12.6	11.1	3.4	7.4	16.2	-8.5	5.7	-6.8	-0.1
Next quarter	-5.8	3.5	-20.3	-29.9	-12.5	2.7	-12.2	-16.8	-32.5	-21.6	-21.2	-25.9	-17.7	-15.1	-9.4	-31.8	-15.5	-4.4	-8.1	-5.5
7(b). How has the default rate on overdraft/ personal loans to households	Current quarter	-20.3	26.5	3.9	-18.8	3.1	12.9	1.3	12.8	-11.1	14.7	3.2	0.4	-5.2	-1.4	7.9	3.3	0.2	3.5	-4.1	1.1
changed?	Next quarter	-9.2	3.3	-19.1	-40.6	-8.9	3.7	-7.0	-16.1	-25.3	-14.2	-13.1	-29.7	-16.7	-11.9	-16.4	-25.0	-18.3	-17.0	-7.5	-7.3
7(c). How has the default rate on total unsecured loans to households changed?	Current quarter	-20.6	17.2	4.3	-18.8	-0.7	13.1	1.3	12.8	-1.0	3.4	14.4	13.4	-5.5	-1.4	0.7	14.1	0.2	3.0	-5.3	1.4
	Next quarter	-8.8	3.1	-16.0	-40.6	-12.7	1.4	-6.7	-16.1	-3.6	-15.9	-13.1	-32.9	-26.7	-12.0	-16.4	-32.8	-18.3	-21.4	-9.7	-9.4
8(a). How have losses given default on credit card loans to households changed?	Current quarter	-10.3	-0.4	-11.2	-13.9	6.5	15.6	1.7	13.6	1.2	0.7	3.7	19.6	-10.7	1.8	4.3	0.1	5.7	9.3	1.6	5.2
	Next quarter	-2.0	-15.8	-11.4	-1.7	-14.0	-2.4	-12.2	-27.7	-8.1	-23.8	-14.5	-41.9	-28.6	-21.5	-8.9	-19.2	-6.2	-4.4	-3.1	-7.6
8(b). How have losses given default on overdraft/personal loans to households	Current quarter	-10.0	0.2	-9.3	-23.2	-7.6	8.9	-3.5	-0.3	-7.6	-15.2	-1.8	2.0	-15.7	-7.9	-5.1	2.5	-3.7	6.1	7.7	-5.3
changed?	Next quarter	-3.5	-14.9	-10.4	-12.2	-30.8	-8.7	-20.5	-7.5	-13.2	-34.6	-26.4	-26.4	-28.8	-24.8	-13.8	-28.6	-25.6	-22.2	-3.1	-9.1
8(c). How have losses given default on total unsecured loans to households	Current quarter	-14.8	-2.4	-10.2	-34.6	-7.6	8.9	-3.5	-0.3	-8.3	-17.0	-2.0	2.3	-14.2	-7.3	-5.1	-5.1	-3.1	5.7	9.8	-6.9
changed?	Next quarter	-7.7	-14.2	-6.3	-7.1	-25.7	-3.6	-13.6	-2.6	-9.2	-33.3	-24.0	-30.0	-25.4	-27.0	-13.8	-25.2	-21.5	-22.2	-3.9	-11.7
9(a). How has the average credit quality of new credit card lending to	Current quarter	22.0	8.4	2.2	26.7	6.2	10.2	9.2	5.8	11.5	26.9	11.4	18.7	12.4	-4.4	11.5	7.0	10.6	28.5	8.4	8.0
HOUSEHOLDS changed?	Next quarter	24.4	16.4	14.1	13.2	12.3	20.7	6.9	2.8	9.7	-5.0	5.7	7.6	9.2	10.6	0.0	18.0	1.3	6.8	8.4	9.1
9(b). How has the average credit quality of new overdraft/personal lending to	Current quarter	20.9	1.9	0.6	9.9	13.5	2.2	-4.3	-2.8	-2.9	0.4	-0.1	1.2	10.1	-3.5	11.1	21.2	-2.1	-4.8	0.7	15.0
HOUSEHOLDS changed?	Next quarter	22.1	15.5	13.6	1.0	13.0	9.8	-5.2	-1.1	-2.7	-8.9	0.0	1.0	3.7	7.4	2.5	12.7	11.5	8.0	7.2	10.4
9(c). How has the average credit quality of new total unsecured lending to	Current quarter	20.4	-0.8	0.7	14.9	18.7	7.4	2.0	1.9	1.8	11.2	4.9	1.3	8.2	2.6	11.1	24.9	-2.1	8.3	0.9	19.4
HOUSEHOLDS changed?	Next quarter	18.9	14.7	15.0	1.3	18.1	15.1	1.3	3.6	2.1	13.2	5.0	1.2	8.3	13.6	8.4	8.6	11.5	8.0	17.4	13.4

13

Table 3: Analysis on Corporate Lending

			2015			2016			2017				2018				2019
QUESTION		Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
1(a). How has availability of credit provided to small businesses changed?	Current quarter	-34.2	-32.4	-23.0	-14.1	25.0	-19.7	-5.2	15.2	-10.5	-20.1	-6.7	-17.2	-26.5	-15.9	-38.9	-31.4	-14.7	-40.9	-38.5	-49.2
Next quarter	-10.0	-20.8	-22.6	-13.1	41.6	-23.6	-10.3	13.0	-13.5	-14.5	-13.0	-22.5	-15.3	-27.6	-39.1	-19.4	-29.3	-37.6	-45.8	-57.8
1(b). How has availability of credit provided to medium PNFCs changed?	Current quarter	-37.5	-28.9	-19.8	-10.0	14.9	-28.2	-3.4	9.9	-12.7	-10.4	-3.1	-28.6	-23.4	-21.8	-29.5	-26.4	-16.4	-40.1	-31.6	-38.5
Next quarter	-28.4	-23.2	-23.3	-8.9	29.2	-26.3	-10.2	9.3	-13.4	-9.0	-9.7	-18.1	-24.9	-29.5	-39.1	-20.2	-26.7	-27.6	-33.6	-50.7
1(c). How has availability of credit provided to large PNFCs changed?	Current quarter	-41.7	-32.6	-20.1	-5.8	12.2	-26.0	-5.7	-15.1	-10.6	-12.1	0.6	-18.7	-10.1	-19.6	-24.9	-20.7	-18.2	-24.0	-25.7	-41.3
Next quarter	-21.2	-21.0	-16.7	-12.1	26.9	-29.2	-7.7	-14.4	-7.4	6.4	6.6	-19.7	-4.3	-23.0	-31.8	-5.9	-24.4	-24.6	-24.7	-46.2
1(d). How has availability of credit provided to OFCs changed?	Current quarter	-19.2	-10.6	-13.9	-16.5	4.0	-17.2	10.4	-13.5	0.6	5.5	6.3	-17.2	-13.8	-3.5	-11.3	-14.7	-6.9	-20.9	-13.9	-35.9
Next quarter	13.9	-9.1	-11.1	-4.1	22.3	-21.1	5.8	-20.3	-2.7	23.5	13.6	-18.9	-15.3	-11.2	-23.7	-0.9	-16.5	-21.5	-11.2	-42.0
2(a). How has demand for credit cards lending from SMALL BUSINESSES changed?	Current quarter	15.4	32.4	30.5	-15.9	3.9	22.7	17.2	1.0	8.3	1.7	-0.3	4.9	20.0	20.7	15.3	-8.1	17.2	8.7	10.6	20.2
Next quarter	3.1	27.6	27.2	-2.0	17.6	25.3	24.4	15.5	9.2	9.4	12.6	11.4	13.5	17.3	4.7	12.8	16.8	9.9	13.4	13.7
2(b). How has demand for overdraft/ personal loans from SMALL BUSINESSES changed?	Current quarter	34.4	25.3	42.2	26.7	24.2	32.7	21.8	26.8	21.1	18.4	22.0	29.5	31.9	35.9	21.9	28.9	36.8	36.7	48.3	42.4
	Next quarter	6.3	33.2	44.2	20.9	24.9	24.7	25.3	32.8	19.3	11.4	26.8	35.2	28.8	30.4	30.8	32.6	40.7	38.6	50.3	35.8
2(c). How has demand for secured lending from SMALL BUSINESSES changed?	Current quarter	33.1	20.3	26.2	24.1	9.7	29.0	15.3	26.5	19.7	11.9	10.4	22.6	25.4	16.4	23.9	7.5	28.2	29.4	41.2	33.4
Next quarter	7.2	27.4	34.5	15.7	26.5	34.0	25.8	27.3	23.5	21.9	30.6	45.3	29.9	27.4	28.1	25.7	33.4	35.3	48.4	40.5
2(d). How has demand for lending from Medium PNFCs changed?	Current quarter	27.5	18.6	30.9	8.3	11.0	12.8	14.2	16.0	9.0	17.9	4.8	13.5	18.8	24.4	33.2	7.8	20.5	21.2	33.2	19.4
Next quarter	2.9	34.4	23.3	5.6	17.4	21.0	9.2	13.6	16.6	15.9	13.6	16.9	20.8	29.5	21.5	25.0	21.5	14.4	36.5	23.0
2(e). How has demand for lending from Large PNFCs changed?	Current quarter	17.9	24.4	30.9	13.3	0.5	14.9	14.2	6.0	7.0	9.0	4.7	7.2	23.4	20.9	28.5	8.2	17.9	19.9	26.6	19.1
Next quarter	3.8	34.9	22.2	20.5	11.1	14.4	8.8	5.4	15.1	-5.9	4.3	12.3	32.6	19.0	16.8	19.2	19.2	15.1	36.0	22.7
2(f). How has demand for lending from OFCs changed?	Current quarter	11.5	0.4	18.7	4.4	-17.8	-0.7	-9.5	0.9	-6.7	-3.9	-5.7	-0.5	2.1	-8.7	17.4	-8.8	16.2	9.3	8.0	9.1
Next quarter	-7.9	27.3	18.1	4.9	4.6	9.4	9.2	6.8	14.1	-8.9	-2.3	9.3	15.0	4.3	9.1	8.9	15.3	13.9	19.2	20.8
3. What have been the main factors contributing to changes in demand for lending?
(a1 )Merger and acquisition	Current quarter	-15.3	-13.9	-8.2	-3.0	-58.7	7.2	-26.4	8.3	-40.6	-12.8	-23.5	-49.1	-20.8	-35.7	-15.7	-14.8	-26.6	-26.1	-27.7	-29.2
Next quarter	-21.2	-6.9	0.0	-3.0	-8.8	7.5	0.0	-4.9	0.0	0.0	0.0	0.0	0.0	0.0	4.2	-2.2	14.3	0.0	-3.8	-1.9
(a2 )Capital Investments	Current quarter	48.8	38.9	31.2	23.1	8.4	16.8	16.4	21.5	15.2	15.2	14.3	13.3	7.0	22.8	13.3	13.4	14.2	15.9	24.5	22.2
Next quarter	18.7	29.8	33.3	13.0	19.4	27.3	24.9	31.8	19.4	19.7	21.8	13.0	16.0	23.6	22.5	0.2	20.6	17.3	27.1	25.2
(a3) Inventory Finance	Current quarter	42.0	47.9	48.5	24.6	35.0	23.7	32.3	16.2	11.4	31.5	32.0	36.1	38.3	30.7	30.5	35.3	21.6	35.0	46.4	33.4
Next quarter	19.0	35.7	46.2	23.8	20.1	24.9	30.7	44.3	30.1	25.6	30.0	28.6	38.1	40.4	21.3	31.7	32.9	34.3	33.1	36.5
(a4) Balance sheet restructuring	Current quarter	-12.6	-5.6	-7.1	-13.9	-7.0	-14.0	-20.4	-18.9	-9.1	0.6	-8.9	-11.8	-23.9	-22.7	-6.4	-24.8	-25.0	-40.4	-25.5	-28.4
Next quarter	-11.1	14.4	8.1	-2.2	7.1	-8.6	-8.3	3.5	-1.1	-6.2	-8.9	-6.9	-13.0	-0.7	6.9	-16.3	-16.5	-25.2	-2.9	-19.7
(a5) Commercial Real Estate	Current quarter	7.1	10.0	6.4	-13.2	0.1	7.5	-10.0	-20.3	-12.1	-17.7	-7.2	-4.7	-12.5	-17.5	3.1	-10.5	-8.3	-3.6	-6.8	13.2
Next quarter	7.1	10.0	6.4	-13.2	0.1	7.5	-10.0	-20.3	-12.1	-17.7	-7.2	-4.7	-12.5	-17.5	3.1	-10.5	-8.3	-3.6	-6.8	13.2
4(a). How has the overall availability of credit to the corporate sector changed?	Current quarter	-37.2	-22.3	-5.3	-8.7	-47.6	-8.0	-9.3	19.2	-29.5	-30.7	-27.1	-7.0	-27.3	-26.1	-38.3	-18.4	-23.6	0.1	3.4	-22.9
Next quarter	-13.1	-4.0	-11.7	-2.6	-29.4	-25.0	-14.6	13.7	-24.1	-31.7	-12.4	-15.1	-41.3	-17.0	-17.9	-28.9	-24.5	-2.3	-7.9	-19.4
Of which: Commercial real estate sector	Current quarter	-9.6	16.3	-12.5	0.5	-40.5	8.8	-23.8	36.7	-24.9	-20.8	-22.5	-17.2	26.8	-11.4	3.9	14.2	-6.8	5.9	29.0	-4.8
Next quarter	23.4	-4.1	-15.3	8.5	-28.1	-11.7	-25.3	24.5	-22.6	-50.6	-6.9	7.5	25.9	-7.3	1.9	-0.4	-5.7	8.5	13.8	3.5
4(b). Factors contributing to changes in credit availability.
Changing economic outlook	Current quarter	-25.3	-59.1	-65.0	-65.4	-65.8	-55.5	-58.2	-60.4	-54.9	-43.7	-40.5	-33.3	-37.1	-41.3	-37.1	-49.5	-28.9	-34.6	-39.2	-27.1
Next quarter	-15.1	-50.6	-55.9	-62.2	-57.0	-40.2	-47.1	-26.0	-48.2	-26.8	-17.0	-19.4	-42.9	-25.5	-23.7	-34.4	-21.8	-13.9	-22.5	-34.4
Changing sector specific risks	Current quarter	-25.6	-61.6	-54.5	-60.0	-56.4	-57.8	-50.7	-64.5	-40.1	-28.5	-37.7	-17.4	-30.8	-46.5	-50.3	-48.4	-16.9	-22.7	-29.2	-29.7
Next quarter	-25.4	-48.5	-55.5	-58.4	-31.6	-40.3	-44.3	-53.5	-32.0	-27.0	-12.1	-22.7	-43.6	-21.1	-33.5	-31.9	-24.8	-14.1	-16.4	-13.0
Market share objectives	Current quarter	-19.2	-34.1	-24.1	-43.8	-32.3	-40.6	-37.4	-26.9	-23.6	-18.7	-27.3	-26.3	-19.4	-25.6	-28.3	-24.8	-30.0	-18.2	-41.7	-37.9
Next quarter	-9.1	-6.3	-23.7	-22.3	-28.4	-31.8	-20.9	-15.7	-25.7	-16.7	-15.2	-19.3	-22.7	-9.9	-26.3	-11.0	-0.7	-4.3	-18.1	-35.5
Market pressures from capital markets	Current quarter	30.5	24.6	20.2	23.5	-23.4	-17.2	-17.0	-14.4	-4.9	-6.0	2.6	10.9	3.5	6.7	-6.9	-14.5	23.2	17.4	11.4	-3.7
Next quarter	25.7	24.0	5.4	0.4	-26.2	-4.2	-14.3	-18.8	-15.0	2.5	12.7	-13.8	-6.7	1.6	-9.6	-9.7	6.5	11.1	-0.2	-22.2
Changing appetite for risk	Current quarter	-18.8	-40.8	-32.3	-47.2	-31.6	-36.8	-28.2	-33.9	-26.3	-27.1	-32.1	-12.1	-29.2	-25.5	-17.7	-23.7	-19.3	-18.3	-22.4	-17.9
Next quarter	-5.3	-31.0	-23.4	-53.1	-32.9	-31.2	-39.9	-24.2	-36.7	-30.6	-26.8	-22.9	-45.2	-28.2	-15.6	-24.2	-12.4	-11.9	-3.0	-36.2
Tight wholesale funding conditions	Current quarter	-14.1	-17.4	-33.5	-36.7	-36.2	-25.0	-35.8	-36.0	-36.9	-33.4	-30.1	-18.1	-9.0	-9.8	-13.3	-17.5	-6.7	-5.3	-3.6	-0.8
Next quarter	-4.5	-31.1	-27.3	-39.3	-29.8	-29.8	-39.9	-63.1	-38.0	-23.9	-30.1	-23.9	-25.5	-9.7	-8.1	-32.0	-8.5	-10.3	-21.1	-26.6
Changing liquidity conditions	Current quarter	-15.9	-35.1	-41.9	-45.3	-41.9	-45.3	-38.1	-48.4	-42.3	-42.3	-29.6	-18.4	-16.6	-31.5	-32.5	-29.4	-16.5	-14.5	-2.8	-13.3
Next quarter	-10.9	-38.4	-34.0	-37.6	-30.9	-32.7	-50.8	-53.1	-37.1	-33.4	-28.7	-21.9	-24.8	-12.6	-16.2	-34.4	-15.8	-12.9	-14.2	-32.0

14

Table 3 (cont'd): Analysis on Corporate Lending

QUESTION			2015				2016				2017				2018				2019
	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
4(c1 ). How have commercial property prices affected credit availability to the commercial	Current quarter	-5.0	-1.1	-3.4	-6.6	7.2	-13.8	10.1	7.6	-0.9	7.1	-0.7	-18.8	3.2	13.5	29.4	16.9	6.4	-3.9	17.8	20.1
real estate sector ?	Next quarter	-1.1	-9.6	-15.5	-7.4	2.7	-13.8	0.7	7.2	-14.1	6.0	12.6	6.6	18.1	5.9	5.5	3.9	4.8	-4.7	14.9	7.8
4(c2 ). How have commercial property prices affected secured lending to PNFCs?	Current quarter	-19.4	-16.8	-14.9	-23.0	-14.3	-13.9	-5.7	-0.7	-0.7	17.0	-0.2	-6.6	-6.7	-14.1	-17.9	-15.9	-14.5	-2.5	10.3	-14.6
Next quarter	-2.8	-12.3	-14.5	-13.1	-14.3	-13.9	-14.1	1.6	-6.1	19.8	17.1	-10.2	10.2	-13.3	-14.3	-13.2	-6.8	-9.4	-11.7	-9.9
5(a). How has the proportion of loan applications from small businesses being approved	Current quarter	27.4	23.3	7.6	-14.4	0.2	26.1	-12.7	-3.7	0.2	10.9	9.9	25.9	16.2	2.1	19.3	27.2	19.7	32.6	53.6	37.1
changed?	Next quarter	7.4	31.6	16.4	10.8	17.8	23.9	-2.5	11.6	2.2	23.1	22.5	25.2	24.9	20.7	36.9	49.1	38.5	27.4	51.5	46.6
5(b). How has the proportion of loan applications from medium PNFCs being approved	Current quarter	29.4	16.2	1.7	-0.4	-2.3	21.0	-6.9	-4.4	-4.5	-3.2	1.3	11.3	8.7	14.2	28.3	21.7	11.5	25.1	31.5	32.3
changed?	Next quarter	-19.4	10.6	5.8	2.4	3.5	12.4	-16.4	-2.1	2.4	-4.9	2.7	10.3	6.5	9.8	21.5	18.6	16.6	14.3	38.4	28.6
5(c). How has the proportion of loan applications from large PNFCs being approved	Current quarter	25.4	9.7	-3.6	-0.5	-6.3	15.1	-12.6	7.8	-5.8	-14.9	-2.4	10.4	13.5	14.6	23.5	5.2	9.8	15.9	23.8	27.0
changed?	Next quarter	-1.8	14.1	-1.3	-7.5	-6.5	7.1	-16.5	-1.3	-17.2	-23.6	-15.3	-6.2	7.6	12.9	21.3	10.9	10.7	8.3	26.1	28.3
6(a1). How have spreads on loans to small businesses changed?	Current quarter	5.0	-5.2	-9.5	-21.2	-2.2	1.5	-9.0	-11.9	5.3	-8.5	-0.4	4.6	-4.7	-7.5	4.1	-2.2	4.3	-4.9	-0.1	4.2
Next quarter	-3.8	1.6	-3.3	-3.1	-6.6	3.6	-11.9	-10.1	-7.5	1.5	1.8	0.0	-2.5	-1.8	-2.5	-0.1	-5.3	-0.2	-3.9	0.1
6(a2). How have fees/commissions on loans to small businesses changed?	Current quarter	-2.4	0.0	0.0	-21.2	-5.5	6.5	3.1	-2.4	4.1	0.0	0.4	-2.6	-11.8	0.2	4.1	-2.1	-2.9	2.6	1.0	4.3
Next quarter	-10.0	-6.5	-6.3	-1.4	-5.2	-0.3	-5.0	-3.8	-9.2	4.0	-0.9	-5.1	-9.8	-0.2	-2.5	0.0	-5.3	-0.2	-3.1	0.1
6(a3). How have collataral requirements for loans to small businesses changed?	Current quarter	-6.2	-11.0	-6.6	-18.9	-41.6	-10.7	-21.1	-32.0	-12.8	-16.1	-11.5	-18.4	-21.2	-30.4	-12.2	-13.9	-2.5	-17.7	-14.2	-6.5
Next quarter	-17.0	-6.7	-6.6	-9.1	-20.8	-10.4	-26.1	-34.6	-20.2	-20.0	-24.7	-2.9	-25.0	-17.8	-2.5	-3.2	-2.1	-6.4	-23.6	-2.2
6(a4). How have maximum credit lines for loans to small businesses changed?	Current quarter	-18.4	-5.3	-7.0	-3.3	9.9	-5.0	7.7	-7.7	5.3	-2.8	-5.7	2.4	-0.4	-9.3	-7.0	-15.2	-6.0	-6.7	-5.2	-10.0
Next quarter	-13.2	-7.4	-7.5	-6.6	4.6	-4.0	7.6	-5.2	-1.2	-5.7	-7.6	11.3	3.6	-12.0	-4.3	-3.2	-2.1	-6.4	-8.3	-7.8
6(a5). How have Loan convenants for loans to small businesses changed?	Current quarter	-10.6	-4.0	-14.5	17.2	19.9	-18.3	-16.7	17.9	-14.1	-24.2	-15.1	-8.7	13.6	-23.9	-12.2	-10.7	-4.7	-13.6	0.5	-4.3
Next quarter	-8.4	-5.6	-5.7	-4.7	18.4	-14.7	-17.9	25.2	-19.6	-18.2	-15.1	-12.9	10.0	-17.9	0.0	0.0	0.0	0.0	-15.2	0.0
6(b1). How have spreads on loans to medium PNFCs changed?	Current quarter	-9.2	-3.6	-1.0	-25.3	-8.6	-0.3	-13.5	-12.2	-11.3	-6.0	-1.5	-8.1	-8.3	-7.3	0.6	-0.6	10.5	1.2	2.0	5.3
Next quarter	-9.1	-1.1	-2.5	-11.5	-8.5	-4.1	-12.2	-16.3	-19.3	-5.0	-0.3	-23.8	-6.3	-4.8	-6.0	-9.4	-2.9	-0.2	-4.1	1.1
6(b2). How have fees/commissions on loans to medium PNFCs changed?	Current quarter	-8.3	-8.6	-1.9	-11.2	-11.1	-3.8	-3.7	-3.6	-2.8	2.4	0.4	7.5	-5.0	0.2	6.8	2.1	5.7	5.3	3.0	7.5
Next quarter	-3.6	-2.6	-6.2	-11.8	-20.3	-15.5	1.3	-11.7	-4.5	1.8	-3.1	-11.7	-10.4	-10.2	-11.8	-7.2	-7.8	-9.1	-8.3	-6.6
6(b3). How have collataral requirements for loans tomedium PNFCs changed?	Current quarter	-13.6	-14.5	-10.8	-27.8	-23.7	-10.5	-21.8	-34.0	-18.1	-17.9	-13.1	-12.6	-14.2	-21.4	-13.0	-11.4	-19.8	-11.0	-3.7	-1.1
Next quarter	-14.0	-6.9	-8.9	-8.7	-20.2	-10.9	-21.8	-35.2	-23.2	-13.9	-25.7	-2.6	-21.5	-8.8	-6.0	-15.9	-5.2	-2.4	-11.0	1.1
6(b4). How have maximum credit lines for loans to medium PNFCs changed?	Current quarter	-8.5	-3.5	-8.1	-6.3	15.5	-12.9	5.3	1.9	1.0	7.7	-2.6	5.0	10.9	-15.3	-10.6	-8.2	-16.3	-13.4	-8.4	-14.4
Next quarter	-7.2	-5.7	-5.4	-3.1	5.1	-4.3	6.4	2.2	6.2	5.1	-0.4	11.6	7.4	-4.8	-10.1	1.1	-5.8	-6.7	-4.1	1.1
6(b5). How have Loan convenants for loans to medium PNFCs changed?	Current quarter	-4.2	-8.5	-17.0	9.0	31.6	-16.4	-19.9	21.8	-26.8	-11.6	-20.9	-21.7	14.8	-17.4	-22.5	-21.3	-16.0	-17.6	-8.9	-6.6
Next quarter	-5.4	-5.1	-6.4	-4.6	13.8	-14.2	-15.4	21.5	-23.3	-9.8	-18.6	-15.4	6.9	-4.0	-8.7	-8.6	-2.2	-2.4	-11.0	1.1
6(c1). How have spreads on loans to large PNFCs changed?	Current quarter	-5.3	3.3	0.3	-10.7	-5.0	1.0	-6.3	-1.8	-5.7	-2.5	-1.5	-11.0	-15.6	-7.6	3.2	-4.4	9.7	3.6	0.0	6.3
Next quarter	-7.3	0.0	-1.1	-11.1	-3.5	1.2	-10.1	9.7	-12.0	1.5	-0.5	-6.8	-17.0	-4.9	-5.9	-6.5	-6.9	-2.4	-2.0	3.2
6(c2). How have fees/commissions on loans to large PNFCs changed?	Current quarter	-2.4	-8.5	-8.1	-17.7	-17.8	1.6	-4.8	-8.2	-7.5	0.1	-5.5	-9.3	-19.2	-6.4	-2.5	-5.1	3.4	-6.4	-6.2	-2.3
Next quarter	0.3	-2.1	0.0	-4.4	-5.9	1.3	-4.9	-8.5	-3.8	3.9	1.4	-2.6	-2.3	0.6	-2.5	0.0	-4.9	0.0	1.0	3.2
6(c3). How have collataral requirements for loans to large PNFCs changed?	Current quarter	-10.5	-8.3	-0.6	-24.5	-16.1	-12.2	-14.3	-22.1	-17.1	-15.8	-11.3	-12.7	-10.4	-5.7	-3.3	-13.6	-21.6	5.5	-10.9	-1.1
Next quarter	-10.7	-3.5	1.3	-3.6	-15.0	-5.0	-18.8	-34.0	-15.6	-13.8	-16.7	-8.5	-17.6	-5.7	-5.9	-9.2	-2.1	-5.0	-10.8	1.0
6(c4). How have maximum credit lines for loans tolarge PNFCs changed?	Current quarter	-19.4	-5.0	1.1	0.4	-6.0	-1.2	6.2	2.7	11.0	1.4	13.2	8.7	4.4	-7.9	-9.6	4.4	-11.7	-4.7	1.1	-7.7
Next quarter	-1.6	-2.2	-2.5	1.7	7.3	-2.6	14.7	-3.8	7.7	2.5	9.4	4.0	-7.2	-7.7	-10.0	2.0	-7.1	-9.2	1.2	-6.6
6(c5). How have Loan convenants for loans to large PNFCs changed?	Current quarter	-1.8	-8.0	-1.6	16.8	-15.5	-16.9	-9.6	-13.0	-19.2	-19.9	-13.2	-12.7	-7.0	-14.5	-8.8	-20.0	-11.8	-0.2	-10.0	1.0
Next quarter	-4.4	-5.6	-1.1	-3.3	13.3	-12.7	-5.2	20.1	-18.5	-9.8	-18.6	-13.0	-3.1	-20.9	-5.9	-9.2	-2.1	-2.4	-11.0	3.2
6(d1). How have spreads on loans to OFCs changed?	Current quarter	0.1	4.8	0.8	-1.4	-5.9	1.5	-5.4	-13.2	-5.9	-6.0	-0.5	2.2	-8.3	-4.4	4.1	2.1	11.2	2.6	-0.2	3.2
Next quarter	-8.4	0.0	-2.2	-13.8	-5.0	1.5	-12.2	-6.1	-10.3	4.0	-4.3	-0.9	-6.1	-1.6	-2.5	-2.4	-7.2	-2.4	-2.6	1.1
6(d2). How have fees/commissions on loans toOFCs changed?	Current quarter	0.0	-3.4	-2.1	-1.5	-10.5	-2.5	3.2	-1.4	-1.5	6.6	1.4	-9.3	-4.5	0.2	4.1	2.1	3.7	2.6	-1.3	3.2
Next quarter	-1.4	-2.3	0.0	-6.1	-7.5	-2.5	-6.8	-4.0	-4.1	4.0	-2.4	3.3	-2.3	5.7	0.2	0.2	0.2	-5.1	-1.4	-3.3
6(d3). How have collataral requirements for loans to OFCs changed?	Current quarter	-10.4	-4.0	-5.0	-8.1	-17.5	-7.9	-11.4	-19.2	-14.8	-14.9	-16.3	-6.7	-3.1	-7.0	-25.7	-26.3	-25.4	-13.4	-13.2	-1.1
Next quarter	-8.9	-4.0	-4.4	-8.6	-14.6	-3.9	-18.2	-30.5	-15.3	-12.9	-7.8	-2.5	-3.1	-4.0	-18.7	-2.4	-2.3	-5.1	-13.7	-3.3
6(d4). How have maximum credit lines for loans to OFCs changed?	Current quarter	-4.3	-1.2	3.8	-0.3	-4.8	1.9	18.4	4.2	8.4	2.4	2.0	0.1	4.4	-2.1	-1.8	6.5	4.7	2.4	4.9	1.1
Next quarter	1.4	-2.5	-1.6	-2.0	-1.6	-2.3	8.2	2.0	2.0	-1.9	-3.4	-14.2	0.0	-7.8	-4.4	-4.9	-4.7	0.0	1.3	-1.1
6(d5). How have Loan convenants for loans toOFCs changed?	Current quarter	-4.2	-4.0	-5.1	-3.5	-14.3	-15.2	-8.6	-11.7	-18.8	-18.9	-16.9	-9.2	-7.0	-7.2	-14.6	-24.5	-5.5	-8.5	-8.9	1.1
Next quarter	-6.9	-5.8	-1.6	-4.0	-8.0	-15.8	-7.2	-19.2	-19.4	-16.9	-9.7	-16.7	-6.9	-4.0	-14.4	-2.4	-2.3	-2.4	-13.5	-1.1

15

Table 3 (cont'd): Analysis on Corporate Lending

	QUESTIONS
7(a).	How has the default rate on loans to small businesses changed?
7(b)	How has the default rate on loans to medium PNFCs changed?
7(c).	How has the default rate on loans to large PNFCs changed?
7(d).	How has the default rate on loans to OFCs changed?
8(a).	How have losses given default on loans to small businesses changed?
8(b).	How have losses given default on loans to medium PNFCs changed?
8(c).	How have losses given default on loans to large PNFCs changed?
8(d).	How have losses given default on loans to OFCs changed?
9(a).	Has there been a changed in average credit quality on newly aranged PNFCs
borrowing facilities?
9(b).	Has there been any change in target hold levels associated with corporate
lending?
9(c).	How have loan tenors on new corporate loans changed?
9(d).	Has there been a change in draw down on committed lines by PNFCs?

		2015			2016			2017				2018				2019
	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3
Current quarter	-7.4	4.7	5.7	-8.9	6.6	13.1	18.3	4.1	-9.8	2.1	-9.0	7.2	-1.6	-7.2	2.0	-9.9	-8.6	-15.4	-8.9	-14.8
Next quarter	-14.0	-13.0	-6.9	-6.1	-1.2	11.2	15.5	7.2	-15.6	4.1	-14.5	-18.5	-1.6	-10.5	-5.0	-24.5	-10.0	-11.8	-4.1	-17.8
Current quarter	-11.3	-0.8	0.6	1.3	-1.2	12.6	9.6	12.9	-0.3	2.1	-7.4	-1.0	-9.2	-10.2	-12.7	-6.7	2.2	-3.7	-15.0	-22.8
Next quarter	-14.0	-17.4	-5.5	-6.1	0.8	7.7	7.8	-1.5	-19.4	-5.4	-4.2	-18.1	-16.9	-12.1	-2.3	-20.3	-15.1	-14.4	-7.0	-20.0
Current quarter	-17.2	-21.6	-7.2	-1.1	-6.1	3.1	3.8	0.4	-1.0	-11.2	-7.3	-11.9	-10.0	-19.2	-11.8	-9.5	-13.1	-18.6	-16.6	-27.9
Next quarter	-15.5	-10.4	-0.6	-2.0	-0.8	5.7	5.8	-2.7	-11.1	-26.8	-27.9	-7.7	-1.5	-11.9	1.2	-15.6	-17.2	-14.3	-4.9	-19.7
Current quarter	-10.3	-7.7	3.2	-6.0	3.3	11.7	1.9	1.2	-4.0	-20.7	-7.5	-6.3	-9.4	-10.2	-5.8	-6.9	0.1	-9.6	-5.7	-11.3
Next quarter	-14.2	-6.1	-4.8	-3.4	0.5	7.8	2.5	2.5	-20.6	-21.5	-16.1	-6.6	-17.0	-13.6	-1.5	-21.9	-18.5	-12.0	-3.1	-8.5
Current quarter	-9.4	-0.6	-1.1	-19.6	-2.3	17.0	15.4	5.2	-2.8	10.3	-2.2	14.8	-2.1	-2.8	-1.4	-7.4	-10.9	-3.3	-4.5	-2.1
Next quarter	-14.1	-8.6	-13.3	-10.2	-22.1	-0.1	-7.8	-5.1	-12.6	-22.7	-11.8	-22.0	-15.9	-20.9	-22.5	-23.9	-28.5	-25.5	-16.4	-20.5
Current quarter	-11.4	1.5	0.8	-9.6	-1.7	15.6	9.6	-3.8	-2.5	6.1	-2.2	5.4	-4.6	-2.9	-8.4	-12.1	-10.9	4.8	-6.8	-6.6
Next quarter	-13.4	-6.4	-13.2	-10.1	-22.3	-2.3	-7.0	-14.2	-12.9	-20.3	-20.7	-22.3	-20.1	-25.0	-28.3	-19.4	-28.5	-25.5	-16.4	-27.6
Current quarter	-17.3	-11.5	-11.5	3.2	-9.4	8.0	1.4	-10.1	-10.2	-0.9	-8.2	-7.7	-12.9	-6.0	-16.5	-12.4	-13.9	-12.5	-14.0	-14.0
Next quarter	-7.5	-6.0	-10.9	-3.6	-14.3	4.2	-0.9	-10.8	-7.7	-16.3	-14.8	-25.5	-4.8	-10.7	-15.3	-12.0	-20.5	-16.2	-9.1	-19.9
Current quarter	-1.2	-0.6	-1.0	-1.2	2.8	13.9	8.3	-3.1	-3.9	1.3	-2.3	-1.0	-12.1	1.4	-7.3	-9.3	-8.4	-3.3	-3.7	-6.6
Next quarter	-1.2	-6.1	-1.6	-5.1	-11.0	6.5	0.8	-10.6	-7.5	-16.8	-15.2	-5.4	-19.4	-6.1	-15.5	-12.1	-21.8	-16.4	-9.2	-20.1
Current quarter	10.0	0.1	15.0	0.2	11.3	21.7	11.3	17.9	3.4	2.7	9.7	12.8	9.6	19.2	16.9	21.2	9.0	18.1	20.3	20.4
Next quarter	7.2	6.0	9.8	15.2	16.8	13.8	8.1	5.5	4.4	-3.9	7.7	4.5	11.3	15.7	23.8	21.7	11.1	19.1	5.1	11.0
Current quarter	13.9	6.2	14.7	-2.0	14.4	19.7	8.3	15.4	8.4	6.4	7.9	10.7	15.5	13.0	22.0	15.8	3.1	9.0	16.1	17.0
Next quarter	15.0	9.7	12.1	7.8	13.7	17.5	3.1	5.7	2.3	1.9	5.9	6.5	10.8	13.0	14.8	17.7	12.3	11.4	9.2	7.6
Current quarter	5.0	5.5	10.7	15.5	-15.8	13.7	3.8	-1.1	8.7	-13.0	-2.4	-3.7	1.6	16.0	4.1	3.2	9.8	2.3	9.3	7.6
Next quarter	9.8	2.5	10.7	4.7	-0.1	15.8	6.1	-10.6	0.2	-29.7	2.4	2.4	8.3	13.7	11.0	10.3	9.2	12.9	20.2	7.6
Current quarter	6.5	-1.0	6.3	-12.5	-3.2	11.5	-10.7	1.6	-0.4	8.9	-3.8	4.2	-2.8	3.7	4.1	5.5	7.8	7.0	25.6	12.5
Next quarter	15.8	4.4	2.3	-0.1	0.1	9.8	-4.0	1.5	-3.4	-4.9	-3.8	0.0	1.5	6.1	15.3	7.4	18.3	16.5	16.7	0.5

16