Eurozone banks have tightened credit access in the three months ending in March, according to a survey released by the European Central Bank (ECB) on Tuesday. According to Jin10, the survey indicates that banks expect to continue tightening credit this quarter due to the Iran conflict, which has increased energy prices and financing costs. The ECB's quarterly bank lending survey, covering 21 Eurozone countries, reveals that financing conditions began to deteriorate following the outbreak of the Iran conflict in late February. The tightening of loan approval standards was more significant than anticipated, particularly for businesses, marking the most notable tightening since the third quarter of 2023. The ECB stated, "The increased perception of economic risks and decreased bank risk tolerance are the main reasons. Banks highlighted in an open-ended question that geopolitical and energy developments have pressured credit tightening." The ECB added, "Some banks also reported additional tightening pressures related to exposures to energy-intensive firms and the Middle East region." The ECB noted that banks expect credit standards to "broadly and more significantly tighten further" in the three months ending in June.