Bert Colijn, a senior Eurozone economist at ING, notes that Eurozone's bank lending standards eased again slightly in the third quarter. 

• "On average, it became slightly easier to borrow for non-financial corporates and home buyers, which should provide some relief for the investment outlook that has taken a hit because of falling new orders and weakening confidence.
• The favourable standards for approving new loans was balanced somewhat by the tightening in credit conditions, meaning that especially riskier loans have seen spreads increase. That has not deterred banks from taking on loans, though demand for lending was roughly unchanged in the third quarter according to the survey.
• For the fourth quarter, banks are not expecting meaningful changes to their own standards and conditions and also not to demand for lending. On top of that, banks indicate that the asset purchase programme (APP) has continued to have a positive impact on market financing conditions and liquidity positions over the past six months, despite the end to net purchases.
• The restart of the programme can be expected to increase these positive contributions, although side effects continue to be reported by the banking sector, mainly around profitability concerns. Still, the ECB will likely take this on board as a confirmation that APP will support loose financial conditions as concerns about the effectiveness of the programme become broader."