（商业银行）对发放贷款谨慎严格，不轻易发放贷款to be reluctant to issue loans

• 不乱贷，也不能惜贷。

  One must not issue loans indiscriminately, but one cannot be reluctant to issue loans either.

• 银行间惜贷情绪高涨，加剧欧洲信贷紧缩局面。

  The mood of reluctance to issue interbank loans is heightening, making the European credit crunch more severe.