Overall, the January 2010 BLS points to a further decline in the net tightening of credit standards, although at a slower pace than in previous quarters. The decline in net tightening was stronger for mortgages than for consumer credit or for loans to non-financial corporations (NFCs). All in all, a turning-point in the tightening trend observed since the second half of 2007 is now closer, but has not yet
been reached.