Credit down in April says Bank of Italy

(ANSA) - Rome, June 9 - Bank credit was down in April, the Bank of Italy said Tuesday. Loans to the private sector contracted 1. 4% on a yearly basis, the same as in March. Loans to families dropped by 0.2% (-0.3% in the previous month), while credit to non-financial firms dropped by 2.2%, the central bank said. Rates on new loans of up to one million euros to non-financial businesses equaled 3.13% (down from 3.09% in March), with new loans of over one million costing 1.78% (against 1.77% in March).
    As far as the private sector, April home mortgage interest rates equaled 2.86% (down from 2.95% in March).
    As well, the central bank said credit institutions saw their the number of their defaulting accounts drop slightly, to 14.8% in April from 14.9% in March.