The graph plots the net unweighted responses provided by the participating banks from the Luxembourg BLS sample. A positive “net percentage” indicates that, relative to the preceding quarter, banks have tightened their credit standards or reported higher loan demand by firms. Conversely, if the respective line is below zero, this points to an easing of banks’ credit standards or a fall in loan demand.
As you can see in the chart, the survey results suggest that banks have been tightening credit standards since the onset of the financial crisis, making it more difficult for companies to finance their activities; lending standards have been tightened in particular for large enterprises.