Consequently, it will take some time before new lending consists entirely of loans falling under the scope of the regulations. Second, banks’ compliance with the measures will only be assessed after lending data for the period to end-December 2015 has been submitted. Before that date we will have no hard evidence on how the measures have impacted on bank lending.
However, if anything, my suspicion is that banks, not unexpectedly, might have needed some time to become fully acquainted with the rules and to introduce them in their lending practices. We will know more in a few months’ time.