Notes: Bank financing includes only loans granted to NFCs by banks. Latest observation: Q2 2018. Chart 4: Total debt financing of NFCs and MFI loans to NFCs in the euro area (annual changes in percent)  4 / 11  BIS central bankers' speeches  Source: ECB. Notes: MFI loans to NFCs have been adjusted for loan sales and securitisation and cash pooling.
Total debt financing is based on quarterly data. Latest observation: September 2018 for loans and Q2 2018 for total debt financing. Such diversification in financing sources is good for the economy, making business investment more resilient throughout business cycles. Supported by this substantial easing of financing conditions, domestic demand is expected to remain the key driver of euro area growth.