The Commission has published a summary of the responses to its consultation on the potential impact of CRR and CRD4 on the financing of the economy (see FReD 23 October and FReD 17 July). Representatives from the banking industry thought that CRR and CRD4 requirements negatively affected lending to the economy, but the economic slowdown (demand side) also played a role. Supervisors, think tanks, and a few respondents representing banks noted that those banks which remained well capitalised during the crisis were better able to provide financing to the economy. Many respondents highlighted the difficulty of disentangling the impact of regulatory, supervisory and market drivers on lending. (Source: Commission Summarises Capital Requirements Impact)