On the mortgage lending side, stricter CNB rules for assessing the income of mortgage applicants have been in place since April, mortgage rates continue to rise, "new business" languished by more than 60% year-on-year in June, and with its overwhelmingly dominant weight in total lending to the population, the trend is clear: overall lending in this segment is growing slowly.

Firms are borrowing in foreign currencies to an increased extent, which is not surprising given the existing interest rate differential, but it is a significant phenomenon (up a high 36% year-on-year in koruna terms). The decline in the volume of deposits by more than 34 billion crowns (including foreign currency deposits) was evident in June.

The aggregate statistics do not provide a plastic view of the financial position of individual households and firms, but it remains true that both firms and households, including trades, have enough funds deposited in banks to be able (purely theoretically) to meet their liabilities with a reserve.

The growing interest rate differential is leading to a significant shift of funds from current to term accounts.

Corporate deposits fell strongly, interest in foreign currency loans grew more