Euro-area banks reported their sharpest deterioration in retail-funding access since the survey began in 2011, with a net balance of 9% in the third quarter, up from 3% in the second. The European Central Bank described the deterioration as moderate, attributing it mainly to higher lending rates, funding costs and balance-sheet constraints. A separate survey found that 46% of companies reported higher bank-loan interest rates, up from 42%, although changes in the sample and reporting periods complicate comparisons. Higher financing costs and reduced risk appetite could weigh on Bitcoin demand, particularly if funding strains spread to cryptocurrency investors ahead of the ECB’s decision on October 29.
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