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  "documentTitle": "March Macro Brief Financial fissures emerge",
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  "notes": "The chart uses an index of weighted net change in credit standards. The upward trend indicates tighter standards.",
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      "text": "Monetary policy tightening since early 2022 has already been leading banks to scale back lending and tighten their credit standards. Growing market and regulatory pressures in the aftermath of recent bank failures could prompt banks to further reduce risk-taking and credit provision. An intensifying credit crunch raises the risk of more severe recession outcomes via a squeeze on household and corporate funding and investment",
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      "text": "Notes: Lending standards for US and EU reflect a weighted index constructed using select survey questions to measure tightening or loosening standards to both households and enterprises. UK lending standards series based on inverted series of use of credit scoring. Sources: Haver Analytics, EU Bank Lending Survey, BoE, Board of Governors of the Federal Reserve System, Accenture Strategy analysis",
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