Fed Survey: Banks reported tighter standards and weaker demand for loans Fed
According to the report, survey respondents reported, on balance, tighter standards and weaker demand for commercial and industrial loans to large and middle-market firms, as well as small firms, over the first quarter. Banks also mentioned tighter standards and weaker demand for all commercial real estate loan categories.
“Banks reported tighter standards and weaker demand for home equity lines of credit . Standards tightened for all consumer loan categories; demand weakened for auto and other consumer loans, while it remained basically unchanged for credit cards.” “Banks reported expecting to tighten standards across all loan categories. Banks most frequently cited an expected deterioration in the credit quality of their loan portfolios and in customers' collateral values, a reduction in risk tolerance, and concerns about bank funding costs, bank liquidity position, and deposit outflows as reasons for expecting to tighten lending standards over the rest of 2023.
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