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mpc: 12 Secured lending to individuals had continued to accelerate and had reached annual growth of over 11%. Discussions with lenders had pointed to some loosening in the criteria for secured lending. At the same time, the criteria for unsecured lending appeared to have been tightened and its growth rate had been falling during 2006. That might have been a response to increasing default rates on unsecured loans, especially on credit cards. Broad measures of money and credit growth continued to grow strongly, largely reflecting a rapid growth in deposits held by Other Financial Corporations.