It is also true that we are told by  BIS Review 92/2008  3  banks, through our bank surveys, that they are tightening their bank lending standards. We will monitor these evolutions closely in the months ahead. 15. Can you explain the 14% growth in credit to non-financial corporates? We are working on that.
What is sure is that there is still a very dynamic growth in the overall financing of the productive sector which is not offset by a diminution of stocks and bonds issuance. 16. What is your feeling about the capital adequacy and the solvency of the euro banking system at present?