Senior Loan Officer Opinion Survey on Bank Lending Practices
April 2009

Table 1

Senior Loan Officer Opinion Survey on Bank Lending Practices
at Selected Large Banks in the United States ¹

(Status of policy as of April 2009)

Questions 1-6 ask about commercial and industrial (C&I) loans at your bank. Questions 1-3 deal with changes in your bank's lending policies over the past three months. Questions 4-5 deal with changes in demand for C&I loans over the past three months. Question 6 asks about changes in prospective demand for C&I loans at your bank, as indicated by the volume of recent inquiries about the availability of new credit lines or increases in existing lines. If your bank's lending policies have not changed over the past three months, please report them as unchanged even if the policies are either restrictive or accommodative relative to longer-term norms. If your bank's policies have tightened or eased over the past three months, please so report them regardless of how they stand relative to longer-term norms. Also, please report changes in enforcement of existing policies as changes in policies.

1. Over the past three months, how have your bank's credit standards for approving applications for C&I loans or credit lines—other than those to be used to finance mergers and acquisitions—to large and middle-market firms and to small firms changed? (If your bank defines firm size differently from the categories suggested below, please use your definitions and indicate what they are.)

A. Standards for large and middle-market firms (annual sales of $50 million or more):

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	3	5.7	2	6.7	1	4.3
Tightened somewhat	18	34.0	7	23.3	11	47.8
Remained basically unchanged	32	60.4	21	70.0	11	47.8
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	53	100.0	30	100.0	23	100.0

B. Standards for small firms (annual sales of less than $50 million):

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	3	5.8	1	3.4	2	8.7
Tightened somewhat	19	36.5	9	31.0	10	43.5
Remained basically unchanged	30	57.7	19	65.5	11	47.8
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	52	100.0	29	100.0	23	100.0

2. For applications for C&I loans or credit lines—other than those to be used to finance mergers and acquisitions—from large and middle-market firms and from small firms that your bank currently is willing to approve, how have the terms of those loans changed over the past three months?

A. Terms for large and middle-market firms (annual sales of $50 million or more):

a. Maximum size of credit lines

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	4	7.5	2	6.7	2	8.7
Tightened somewhat	19	35.8	10	33.3	9	39.1
Remained basically unchanged	29	54.7	17	56.7	12	52.2
Eased somewhat	1	1.9	1	3.3	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	53	100.0	30	100.0	23	100.0

b. Maximum maturity of loans or credit lines

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	0	0.0	0	0.0	0	0.0
Tightened somewhat	20	37.7	11	36.7	9	39.1
Remained basically unchanged	32	60.4	18	60.0	14	60.9
Eased somewhat	1	1.9	1	3.3	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	53	100.0	30	100.0	23	100.0

c. Costs of credit lines

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	5	9.4	3	10.0	2	8.7
Tightened somewhat	32	60.4	19	63.3	13	56.5
Remained basically unchanged	15	28.3	7	23.3	8	34.8
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	1	1.9	1	3.3	0	0.0
Total	53	100.0	30	100.0	23	100.0

d. Spreads of loan rates over your bank's cost of funds (wider spreads=tightened, narrower spreads=eased)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	7	13.2	3	10.0	4	17.4
Tightened somewhat	36	67.9	20	66.7	16	69.6
Remained basically unchanged	9	17.0	6	20.0	3	13.0
Eased somewhat	1	1.9	1	3.3	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	53	100.0	30	100.0	23	100.0

e. Premiums charged on riskier loans

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	10	18.9	6	20.0	4	17.4
Tightened somewhat	27	50.9	17	56.7	10	43.5
Remained basically unchanged	16	30.2	7	23.3	9	39.1
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	53	100.0	30	100.0	23	100.0

f. Loan covenants

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	3	5.7	1	3.3	2	8.7
Tightened somewhat	16	30.2	8	26.7	8	34.8
Remained basically unchanged	34	64.2	21	70.0	13	56.5
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	53	100.0	30	100.0	23	100.0

g. Collateralization requirements

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	3	5.7	1	3.3	2	8.7
Tightened somewhat	16	30.2	9	30.0	7	30.4
Remained basically unchanged	34	64.2	20	66.7	14	60.9
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	53	100.0	30	100.0	23	100.0

B. Terms for small firms (annual sales of less than $50 million):

a. Maximum size of credit lines

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	1	1.9	0	0.0	1	4.3
Tightened somewhat	15	28.8	8	27.6	7	30.4
Remained basically unchanged	36	69.2	21	72.4	15	65.2
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	52	100.0	29	100.0	23	100.0

b. Maximum maturity of loans or credit lines

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	0	0.0	0	0.0	0	0.0
Tightened somewhat	20	38.5	10	34.5	10	43.5
Remained basically unchanged	31	59.6	18	62.1	13	56.5
Eased somewhat	1	1.9	1	3.4	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	52	100.0	29	100.0	23	100.0

c. Costs of credit lines

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	4	7.7	2	6.9	2	8.7
Tightened somewhat	28	53.8	16	55.2	12	52.2
Remained basically unchanged	19	36.5	10	34.5	9	39.1
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	1	1.9	1	3.4	0	0.0
Total	52	100.0	29	100.0	23	100.0

d. Spreads of loan rates over your bank's cost of funds (wider spreads=tightened, narrower spreads=eased)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	8	15.4	2	6.9	6	26.1
Tightened somewhat	32	61.5	19	65.5	13	56.5
Remained basically unchanged	11	21.2	7	24.1	4	17.4
Eased somewhat	1	1.9	1	3.4	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	52	100.0	29	100.0	23	100.0

e. Premiums charged on riskier loans

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	11	21.2	7	24.1	4	17.4
Tightened somewhat	24	46.2	15	51.7	9	39.1
Remained basically unchanged	17	32.7	7	24.1	10	43.5
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	52	100.0	29	100.0	23	100.0

f. Loan covenants

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	3	5.8	1	3.4	2	8.7
Tightened somewhat	14	26.9	8	27.6	6	26.1
Remained basically unchanged	35	67.3	20	69.0	15	65.2
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	52	100.0	29	100.0	23	100.0

g. Collateralization requirements

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	3	5.8	1	3.4	2	8.7
Tightened somewhat	17	32.7	10	34.5	7	30.4
Remained basically unchanged	32	61.5	18	62.1	14	60.9
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	52	100.0	29	100.0	23	100.0

3. If your bank has tightened or eased its credit standards or its terms for C&I loans or credit lines over the past three months (as described in questions 1 and 2), how important have been the following possible reasons for the change?

A. Possible reasons for tightening credit standards or loan terms:

a. Deterioration in your bank's current or expected capital position

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	29	67.4	15	60.0	14	77.8
Somewhat important	10	23.3	8	32.0	2	11.1
Very important	4	9.3	2	8.0	2	11.1
Total	43	100.0	25	100.0	18	100.0

b. Less favorable or more uncertain economic outlook

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	1	2.3	1	3.8	0	0.0
Somewhat important	22	50.0	11	42.3	11	61.1
Very important	21	47.7	14	53.8	7	38.9
Total	44	100.0	26	100.0	18	100.0

c. Worsening of industry-specific problems (please specify industries)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	5	11.9	5	20.8	0	0.0
Somewhat important	23	54.8	10	41.7	13	72.2
Very important	14	33.3	9	37.5	5	27.8
Total	42	100.0	24	100.0	18	100.0

d. Less aggressive competition from other banks or nonbank lenders (other financial intermediaries or the capital markets)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	24	55.8	11	44.0	13	72.2
Somewhat important	13	30.2	9	36.0	4	22.2
Very important	6	14.0	5	20.0	1	5.6
Total	43	100.0	25	100.0	18	100.0

e. Reduced tolerance for risk

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	8	18.6	6	24.0	2	11.1
Somewhat important	28	65.1	16	64.0	12	66.7
Very important	7	16.3	3	12.0	4	22.2
Total	43	100.0	25	100.0	18	100.0

f. Decreased liquidity in the secondary market for these loans

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	23	53.5	13	52.0	10	55.6
Somewhat important	13	30.2	9	36.0	4	22.2
Very important	7	16.3	3	12.0	4	22.2
Total	43	100.0	25	100.0	18	100.0

g. Increase in defaults by borrowers in public debt markets

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	28	65.1	15	60.0	13	72.2
Somewhat important	14	32.6	9	36.0	5	27.8
Very important	1	2.3	1	4.0	0	0.0
Total	43	100.0	25	100.0	18	100.0

h. Deterioration in your bank's current or expected liquidity position

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	35	81.4	20	80.0	15	83.3
Somewhat important	6	14.0	4	16.0	2	11.1
Very important	2	4.7	1	4.0	1	5.6
Total	43	100.0	25	100.0	18	100.0

B. Possible reasons for easing credit standards or loan terms:

a. Improvement in your bank's current or expected capital position

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	1	50.0	1	50.0	0	--
Somewhat important	1	50.0	1	50.0	0	--
Very important	0	0.0	0	0.0	0	--
Total	2	100.0	2	100.0	0	--

b. More favorable or less uncertain economic outlook

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	1	100.0	1	100.0	0	--
Somewhat important	0	0.0	0	0.0	0	--
Very important	0	0.0	0	0.0	0	--
Total	1	100.0	1	100.0	0	--

c. Improvement in industry-specific problems (please specify industries)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	1	100.0	1	100.0	0	--
Somewhat important	0	0.0	0	0.0	0	--
Very important	0	0.0	0	0.0	0	--
Total	1	100.0	1	100.0	0	--

d. More aggressive competition from other banks or nonbank lenders (other financial intermediaries or the capital markets)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	1	100.0	1	100.0	0	--
Somewhat important	0	0.0	0	0.0	0	--
Very important	0	0.0	0	0.0	0	--
Total	1	100.0	1	100.0	0	--

e. Increased tolerance for risk

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	1	100.0	1	100.0	0	--
Somewhat important	0	0.0	0	0.0	0	--
Very important	0	0.0	0	0.0	0	--
Total	1	100.0	1	100.0	0	--

f. Increased liquidity in the secondary market for these loans

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	1	100.0	1	100.0	0	--
Somewhat important	0	0.0	0	0.0	0	--
Very important	0	0.0	0	0.0	0	--
Total	1	100.0	1	100.0	0	--

g. Reduction in defaults by borrowers in public debt markets

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	1	100.0	1	100.0	0	--
Somewhat important	0	0.0	0	0.0	0	--
Very important	0	0.0	0	0.0	0	--
Total	1	100.0	1	100.0	0	--

h. Improvement in your bank's current or expected liquidity position

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	1	50.0	1	50.0	0	--
Somewhat important	1	50.0	1	50.0	0	--
Very important	0	0.0	0	0.0	0	--
Total	2	100.0	2	100.0	0	--

4. Apart from normal seasonal variation, how has demand for C&I loans changed over the past three months? (Please consider only funds actually disbursed as opposed to requests for new or increased lines of credit.)

A. Demand for C&I loans from large and middle-market firms (annual sales of $50 million or more):

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Substantially stronger	0	0.0	0	0.0	0	0.0
Moderately stronger	4	7.5	3	10.0	1	4.3
About the same	13	24.5	8	26.7	5	21.7
Moderately weaker	28	52.8	15	50.0	13	56.5
Substantially weaker	8	15.1	4	13.3	4	17.4
Total	53	100.0	30	100.0	23	100.0

B. Demand for C&I loans from small firms (annual sales of less than $50 million):

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Substantially stronger	0	0.0	0	0.0	0	0.0
Moderately stronger	2	3.8	1	3.4	1	4.3
About the same	15	28.8	8	27.6	7	30.4
Moderately weaker	28	53.8	17	58.6	11	47.8
Substantially weaker	7	13.5	3	10.3	4	17.4
Total	52	100.0	29	100.0	23	100.0

5. If demand for C&I loans has strengthened or weakened over the past three months (as described in question 4), how important have been the following possible reasons for the change?

A. If stronger loan demand (answer 1 or 2 to question 4A or 4B), possible reasons:

a. Customer inventory financing needs increased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	4	100.0	3	100.0	1	100.0
Somewhat important	0	0.0	0	0.0	0	0.0
Very important	0	0.0	0	0.0	0	0.0
Total	4	100.0	3	100.0	1	100.0

b. Customer accounts receivable financing needs increased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	4	100.0	3	100.0	1	100.0
Somewhat important	0	0.0	0	0.0	0	0.0
Very important	0	0.0	0	0.0	0	0.0
Total	4	100.0	3	100.0	1	100.0

c. Customer investment in plant or equipment increased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	4	100.0	3	100.0	1	100.0
Somewhat important	0	0.0	0	0.0	0	0.0
Very important	0	0.0	0	0.0	0	0.0
Total	4	100.0	3	100.0	1	100.0

d. Customer internally generated funds decreased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	2	50.0	1	33.3	1	100.0
Somewhat important	2	50.0	2	66.7	0	0.0
Very important	0	0.0	0	0.0	0	0.0
Total	4	100.0	3	100.0	1	100.0

e. Customer merger or acquisition financing needs increased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	3	75.0	2	66.7	1	100.0
Somewhat important	1	25.0	1	33.3	0	0.0
Very important	0	0.0	0	0.0	0	0.0
Total	4	100.0	3	100.0	1	100.0

f. Customer borrowing shifted to your bank from other bank or nonbank sources because these other sources became less attractive

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	0	0.0	0	0.0	0	0.0
Somewhat important	2	50.0	1	33.3	1	100.0
Very important	2	50.0	2	66.7	0	0.0
Total	4	100.0	3	100.0	1	100.0

B. If weaker loan demand (answer 4 or 5 to question 4A or 4B), possible reasons:

a. Customer inventory financing needs decreased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	6	15.4	1	4.5	5	29.4
Somewhat important	28	71.8	19	86.4	9	52.9
Very important	5	12.8	2	9.1	3	17.6
Total	39	100.0	22	100.0	17	100.0

b. Customer accounts receivable financing needs decreased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	6	15.4	3	13.6	3	17.6
Somewhat important	29	74.4	17	77.3	12	70.6
Very important	4	10.3	2	9.1	2	11.8
Total	39	100.0	22	100.0	17	100.0

c. Customer investment in plant or equipment decreased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	1	2.6	0	0.0	1	5.9
Somewhat important	20	51.3	13	59.1	7	41.2
Very important	18	46.2	9	40.9	9	52.9
Total	39	100.0	22	100.0	17	100.0

d. Customer internally generated funds increased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	23	59.0	13	59.1	10	58.8
Somewhat important	14	35.9	9	40.9	5	29.4
Very important	2	5.1	0	0.0	2	11.8
Total	39	100.0	22	100.0	17	100.0

e. Customer merger or acquisition financing needs decreased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	8	20.5	3	13.6	5	29.4
Somewhat important	20	51.3	15	68.2	5	29.4
Very important	11	28.2	4	18.2	7	41.2
Total	39	100.0	22	100.0	17	100.0

f. Customer borrowing shifted from your bank to other bank or nonbank credit sources because these other sources became more attractive

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	36	92.3	21	95.5	15	88.2
Somewhat important	3	7.7	1	4.5	2	11.8
Very important	0	0.0	0	0.0	0	0.0
Total	39	100.0	22	100.0	17	100.0

6. At your bank, how has the number of inquiries from potential business borrowers regarding the availability and terms of new credit lines or increases in existing lines changed over the past three months? (Please consider only inquiries for additional C&I lines as opposed to the refinancing of existing loans.)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
The number of inquiries has increased substantially	0	0.0	0	0.0	0	0.0
The number of inquiries has increased moderately	9	17.0	4	13.3	5	21.7
The number of inquiries has stayed about the same	17	32.1	11	36.7	6	26.1
The number of inquiries has decreased moderately	21	39.6	11	36.7	10	43.5
The number of inquiries has decreased substantially	6	11.3	4	13.3	2	8.7
Total	53	100.0	30	100.0	23	100.0

Questions 7-8 ask about commercial real estate loans at your bank, including construction and land development loans and loans secured by nonfarm nonresidential real estate. Question 7 deals with changes in your bank's standards over the past three months. Question 8 deals with changes in demand. If your bank's lending standards or terms have not changed over the relevant period, please report them as unchanged even if they are either restrictive or accommodative relative to longer-term norms. If your bank's standards or terms have tightened or eased over the relevant period, please so report them regardless of how they stand relative to longer-term norms. Also, please report changes in enforcement of existing standards as changes in standards.

7. Over the past three months, how have your bank's credit standards for approving applications for commercial real estate loans changed?

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	8	15.1	5	16.7	3	13.0
Tightened somewhat	27	50.9	16	53.3	11	47.8
Remained basically unchanged	18	34.0	9	30.0	9	39.1
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	53	100.0	30	100.0	23	100.0

8. Apart from normal seasonal variation, how has demand for commercial real estate loans changed over the past three months?

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Substantially stronger	1	1.9	0	0.0	1	4.3
Moderately stronger	2	3.8	1	3.3	1	4.3
About the same	12	22.6	6	20.0	6	26.1
Moderately weaker	19	35.8	11	36.7	8	34.8
Substantially weaker	19	35.8	12	40.0	7	30.4
Total	53	100.0	30	100.0	23	100.0

Questions 9-10 ask about three categories of residential mortgage loans at your bank—prime residential mortgages, nontraditional residential mortgages, and subprime residential mortgages. Question 9 deals with changes in your bank's credit standards for loans in each of these categories over the past three months. Question 10 deals with changes in demand for loans in each of these categories over the same period. If your bank's credit standards have not changed over the relevant period, please report them as unchanged even if the standards are either restrictive or accommodative relative to longer-term norms. If your bank's credit standards have tightened or eased over the relevant period, please so report them regardless of how they stand relative to longer-term norms. Also, please report changes in enforcement of existing standards as changes in standards.
For the purposes of this survey, please use the following definitions of these loan categories (note that the loan categories are not mutually exclusive) and include first-lien loans only:

The prime category of residential mortgages includes loans made to borrowers that typically had relatively strong, well-documented credit histories, relatively high credit scores, and relatively low debt-to-income ratios at the time of origination. This would include fully amortizing loans that have a fixed rate, a standard adjustable rate, or a common hybrid adjustable rate—those for which the interest rate is initially fixed for a multi-year period and subsequently adjusts more frequently.

The nontraditional category of residential mortgages includes, but is not limited to, adjustable-rate mortgages with multiple payment options, interest-only mortgages, and ``Alt-A'' products such as mortgages with limited income verification and mortgages secured by non-owner-occupied properties. (Please exclude standard adjustable-rate mortgages and common hybrid adjustable-rate mortgages.)

The subprime category of residential mortgages typically includes loans made to borrowers that displayed one or more of the following characteristics at the time of origination: weakened credit histories that include payment delinquencies, chargeoffs, judgments, and/or bankruptcies; reduced repayment capacity as measured by credit scores or debt-to-income ratios; or incomplete credit histories.

9. Over the past three months, how have your bank's credit standards for approving applications from individuals for mortgage loans to purchase homes changed?

A. Credit standards on mortgage loans that your bank categorizes as prime residential mortgages have:

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	3	6.1	2	7.4	1	4.5
Tightened somewhat	21	42.9	12	44.4	9	40.9
Remained basically unchanged	25	51.0	13	48.1	12	54.5
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	49	100.0	27	100.0	22	100.0

For this question, 1 respondents answered “My bank does not originate prime residential mortgages.”

B. Credit standards on mortgage loans that your bank categorizes as nontraditional residential mortgages have:

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	3	12.0	2	11.8	1	12.5
Tightened somewhat	13	52.0	8	47.1	5	62.5
Remained basically unchanged	9	36.0	7	41.2	2	25.0
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	25	100.0	17	100.0	8	100.0

For this question, 25 respondents answered “My bank does not originate nontraditional residential mortgages.”

C. Credit standards on mortgage loans that your bank categorizes as subprime residential mortgages have:

Responses are not reported when the number of respondents is 3 or fewer.

10. Apart from normal seasonal variation, how has demand for mortgages to purchase homes changed over the past three months? (Please consider only new originations as opposed to the refinancing of existing mortgages.)

A. Demand for mortgages that your bank categorizes as prime residential mortgages was:

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Substantially stronger	10	20.4	6	22.2	4	18.2
Moderately stronger	15	30.6	8	29.6	7	31.8
About the same	17	34.7	9	33.3	8	36.4
Moderately weaker	7	14.3	4	14.8	3	13.6
Substantially weaker	0	0.0	0	0.0	0	0.0
Total	49	100.0	27	100.0	22	100.0

For this question, 1 respondents answered “My bank does not originate prime residential mortgages.”

B. Demand for mortgages that your bank categorizes as nontraditional residential mortgages was:

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Substantially stronger	1	4.0	1	5.9	0	0.0
Moderately stronger	3	12.0	2	11.8	1	12.5
About the same	14	56.0	10	58.8	4	50.0
Moderately weaker	3	12.0	2	11.8	1	12.5
Substantially weaker	4	16.0	2	11.8	2	25.0
Total	25	100.0	17	100.0	8	100.0

For this question, 25 respondents answered “My bank does not originate nontraditional residential mortgages.”

C. Demand for mortgages that your bank categorizes as subprime residential mortgages was:

Responses are not reported when the number of respondents is 3 or fewer.

Questions 11-12 ask about revolving home equity lines of credit at your bank. Question 11 deals with changes in your bank's credit standards over the past three months. Question 12 deals with changes in demand. If your bank's credit standards have not changed over the relevant period, please report them as unchanged even if they are either restrictive or accommodative relative to longer-term norms. If your bank's credit standards have tightened or eased over the relevant period, please so report them regardless of how they stand relative to longer-term norms. Also, please report changes in enforcement of existing standards as changes in standards.

11. Over the past three months, how have your bank's credit standards for approving applications for revolving home equity lines of credit changed?

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	6	11.5	3	10.3	3	13.0
Tightened somewhat	20	38.5	11	37.9	9	39.1
Remained basically unchanged	26	50.0	15	51.7	11	47.8
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	52	100.0	29	100.0	23	100.0

12. Apart from normal seasonal variation, how has demand for revolving home equity lines of credit changed over the past three months? (Please consider only funds actually disbursed as opposed to requests for new or increased lines of credit.)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Substantially stronger	1	1.9	0	0.0	1	4.3
Moderately stronger	10	19.2	3	10.3	7	30.4
About the same	15	28.8	10	34.5	5	21.7
Moderately weaker	19	36.5	10	34.5	9	39.1
Substantially weaker	7	13.5	6	20.7	1	4.3
Total	52	100.0	29	100.0	23	100.0

Questions 13-18 ask about consumer lending at your bank. Question 13 deals with changes in your bank's willingness to make consumer loans over the past three months. Questions 14-17 deal with changes in credit standards and loan terms over the same period. Question 18 deals with changes in demand for consumer loans over the past three months. If your bank's lending policies have not changed over the past three months, please report them as unchanged even if the policies are either restrictive or accommodative relative to longer-term norms. If your bank's policies have tightened or eased over the past three months, please so report them regardless of how they stand relative to longer-term norms. Also, please report changes in enforcement of existing policies as changes in policies.

13. Please indicate your bank's willingness to make consumer installment loans now as opposed to three months ago.

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Much more willing	1	2.0	1	3.6	0	0.0
Somewhat more willing	1	2.0	1	3.6	0	0.0
About unchanged	44	86.3	23	82.1	21	91.3
Somewhat less willing	5	9.8	3	10.7	2	8.7
Much less willing	0	0.0	0	0.0	0	0.0
Total	51	100.0	28	100.0	23	100.0

14. Over the past three months, how have your bank's credit standards for approving applications for credit cards from individuals or households changed?

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	2	6.5	2	10.5	0	0.0
Tightened somewhat	16	51.6	11	57.9	5	41.7
Remained basically unchanged	13	41.9	6	31.6	7	58.3
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	31	100.0	19	100.0	12	100.0

15. Over the past three months, how have your bank's credit standards for approving applications for consumer loans other than credit card loans changed?

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	2	3.9	1	3.6	1	4.3
Tightened somewhat	22	43.1	16	57.1	6	26.1
Remained basically unchanged	27	52.9	11	39.3	16	69.6
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	51	100.0	28	100.0	23	100.0

16. Over the past three months, how has your bank changed the following terms and conditions on new or existing credit card accounts for individuals or households?

a. Credit limits

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	2	6.3	2	10.0	0	0.0
Tightened somewhat	18	56.3	10	50.0	8	66.7
Remained basically unchanged	12	37.5	8	40.0	4	33.3
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	32	100.0	20	100.0	12	100.0

b. Spreads of interest rates charged on outstanding balances over your bank's cost of funds (wider spreads=tightened, narrower spreads=eased)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	2	6.3	0	0.0	2	16.7
Tightened somewhat	14	43.8	11	55.0	3	25.0
Remained basically unchanged	16	50.0	9	45.0	7	58.3
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	32	100.0	20	100.0	12	100.0

c. Minimum percent of outstanding balances required to be repaid each month

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	0	0.0	0	0.0	0	0.0
Tightened somewhat	2	6.3	2	10.0	0	0.0
Remained basically unchanged	30	93.8	18	90.0	12	100.0
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	32	100.0	20	100.0	12	100.0

d. Minimum required credit score (increased score=tightened, reduced score=eased)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	2	6.3	2	10.0	0	0.0
Tightened somewhat	16	50.0	10	50.0	6	50.0
Remained basically unchanged	14	43.8	8	40.0	6	50.0
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	32	100.0	20	100.0	12	100.0

e. The extent to which loans are granted to some customers that do not meet credit scoring thresholds (increased=eased, decreased=tightened)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	5	15.6	4	20.0	1	8.3
Tightened somewhat	11	34.4	4	20.0	7	58.3
Remained basically unchanged	16	50.0	12	60.0	4	33.3
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	32	100.0	20	100.0	12	100.0

17. Over the past three months, how has your bank changed the following terms and conditions on consumer loans other than credit card loans? (Please assign each term a number between 1 and 5 using the following scale: 1=tightened considerably, 2=tightened somewhat, 3=remained basically unchanged, 4=eased somewhat, 5=eased considerably.)

a. Maximum maturity

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	1	2.0	1	3.7	0	0.0
Tightened somewhat	9	18.0	5	18.5	4	17.4
Remained basically unchanged	40	80.0	21	77.8	19	82.6
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	50	100.0	27	100.0	23	100.0

b. Spreads of loan rates over your bank's cost of funds (wider spreads=tightened, narrower spreads=eased)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	3	5.9	1	3.6	2	8.7
Tightened somewhat	23	45.1	13	46.4	10	43.5
Remained basically unchanged	22	43.1	11	39.3	11	47.8
Eased somewhat	3	5.9	3	10.7	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	51	100.0	28	100.0	23	100.0

c. Minimum required downpayment

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	2	3.9	1	3.6	1	4.3
Tightened somewhat	14	27.5	8	28.6	6	26.1
Remained basically unchanged	35	68.6	19	67.9	16	69.6
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	51	100.0	28	100.0	23	100.0

d. Minimum required credit score (increased score=tightened, reduced score=eased)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	5	10.0	4	14.3	1	4.5
Tightened somewhat	18	36.0	9	32.1	9	40.9
Remained basically unchanged	27	54.0	15	53.6	12	54.5
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	50	100.0	28	100.0	22	100.0

e. The extent to which loans are granted to some customers that do not meet credit scoring thresholds (increased=eased, decreased=tightened)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	6	12.0	4	14.3	2	9.1
Tightened somewhat	18	36.0	8	28.6	10	45.5
Remained basically unchanged	26	52.0	16	57.1	10	45.5
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	50	100.0	28	100.0	22	100.0

18. Apart from normal seasonal variation, how has demand for consumer loans of all types changed over the past three months?

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Substantially stronger	0	0.0	0	0.0	0	0.0
Moderately stronger	9	17.6	4	14.3	5	21.7
About the same	24	47.1	16	57.1	8	34.8
Moderately weaker	14	27.5	6	21.4	8	34.8
Substantially weaker	4	7.8	2	7.1	2	8.7
Total	51	100.0	28	100.0	23	100.0

19. Over the past three months, how has your bank changed the size of credit lines for existing customers with the following types of accounts? Please consider changes made to line sizes during the life of existing credit agreements as well as changes made to line sizes upon renewal or renegotiation of existing agreements. (Please rate the degree of change for each type of account using the following scale: 1=increased considerably, 2=increased somewhat, 3=remained basically unchanged, 4=decreased somewhat, 5=decreased considerably.)

a. Home equity lines of credit

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Increased considerably	0	0.0	0	0.0	0	0.0
Increased somewhat	0	0.0	0	0.0	0	0.0
Remained basically unchanged	31	59.6	16	55.2	15	65.2
Decreased somewhat	16	30.8	8	27.6	8	34.8
Decreased considerably	5	9.6	5	17.2	0	0.0
Total	52	100.0	29	100.0	23	100.0

b. Consumer credit card accounts

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Increased considerably	0	0.0	0	0.0	0	0.0
Increased somewhat	1	3.0	1	4.8	0	0.0
Remained basically unchanged	14	42.4	9	42.9	5	41.7
Decreased somewhat	14	42.4	7	33.3	7	58.3
Decreased considerably	4	12.1	4	19.0	0	0.0
Total	33	100.0	21	100.0	12	100.0

c. Business credit card accounts

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Increased considerably	0	0.0	0	0.0	0	0.0
Increased somewhat	1	2.8	1	4.2	0	0.0
Remained basically unchanged	23	63.9	13	54.2	10	83.3
Decreased somewhat	10	27.8	8	33.3	2	16.7
Decreased considerably	2	5.6	2	8.3	0	0.0
Total	36	100.0	24	100.0	12	100.0

d. C&I credit lines (excluding business credit card accounts)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Increased considerably	0	0.0	0	0.0	0	0.0
Increased somewhat	0	0.0	0	0.0	0	0.0
Remained basically unchanged	28	59.6	14	56.0	14	63.6
Decreased somewhat	19	40.4	11	44.0	8	36.4
Decreased considerably	0	0.0	0	0.0	0	0.0
Total	47	100.0	25	100.0	22	100.0

e. Commercial construction lines of credit

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Increased considerably	0	0.0	0	0.0	0	0.0
Increased somewhat	1	2.2	1	4.2	0	0.0
Remained basically unchanged	19	42.2	8	33.3	11	52.4
Decreased somewhat	18	40.0	11	45.8	7	33.3
Decreased considerably	7	15.6	4	16.7	3	14.3
Total	45	100.0	24	100.0	21	100.0

f. Lines of credit for financial firms

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Increased considerably	0	0.0	0	0.0	0	0.0
Increased somewhat	0	0.0	0	0.0	0	0.0
Remained basically unchanged	18	47.4	9	40.9	9	56.3
Decreased somewhat	15	39.5	11	50.0	4	25.0
Decreased considerably	5	13.2	2	9.1	3	18.8
Total	38	100.0	22	100.0	16	100.0

In recent quarters, loan delinquencies and chargeoffs have continued to increase. Questions 20-21 ask about your bank’s expectations for the behavior of these measures of loan quality in 2009.

20. Assuming that economic activity progresses in line with consensus forecasts, what is your bank’s outlook for delinquencies and chargeoffs on existing loans to businesses in 2009?

A. Outlook for loan quality on C&I loans:

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Loan quality is likely to improve substantially	0	0.0	0	0.0	0	0.0
Loan quality is likely to improve somewhat	0	0.0	0	0.0	0	0.0
Loan quality is likely to stabilize around current levels	7	13.5	5	17.2	2	8.7
Loan quality is likely to deteriorate somewhat	37	71.2	18	62.1	19	82.6
Loan quality is likely to deteriorate substantially	8	15.4	6	20.7	2	8.7
Total	52	100.0	29	100.0	23	100.0

B. Outlook for loan quality on commercial real estate loans:

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Loan quality is likely to improve substantially	0	0.0	0	0.0	0	0.0
Loan quality is likely to improve somewhat	1	2.0	1	3.4	0	0.0
Loan quality is likely to stabilize around current levels	3	5.9	2	6.9	1	4.5
Loan quality is likely to deteriorate somewhat	34	66.7	16	55.2	18	81.8
Loan quality is likely to deteriorate substantially	13	25.5	10	34.5	3	13.6
Total	51	100.0	29	100.0	22	100.0

For this question, 1 respondents answered “My bank does not originate this type of loan.”

21. Assuming that economic activity progresses in line with consensus forecasts, what is your bank’s outlook for delinquencies and chargeoffs on existing loans to households in 2009?

A. Outlook for loan quality on prime residential mortgage loans:

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Loan quality is likely to improve substantially	0	0.0	0	0.0	0	0.0
Loan quality is likely to improve somewhat	1	2.0	0	0.0	1	4.5
Loan quality is likely to stabilize around current levels	7	14.0	3	10.7	4	18.2
Loan quality is likely to deteriorate somewhat	39	78.0	22	78.6	17	77.3
Loan quality is likely to deteriorate substantially	3	6.0	3	10.7	0	0.0
Total	50	100.0	28	100.0	22	100.0

For this question, 2 respondents answered “My bank does not originate this type of loan.”

B. Outlook for loan quality on nontraditional residential mortgage loans:

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Loan quality is likely to improve substantially	0	0.0	0	0.0	0	0.0
Loan quality is likely to improve somewhat	0	0.0	0	0.0	0	0.0
Loan quality is likely to stabilize around current levels	2	7.4	1	5.6	1	11.1
Loan quality is likely to deteriorate somewhat	23	85.2	15	83.3	8	88.9
Loan quality is likely to deteriorate substantially	2	7.4	2	11.1	0	0.0
Total	27	100.0	18	100.0	9	100.0

For this question, 24 respondents answered “My bank does not originate this type of loan.”

C. Outlook for loan quality on subprime residential mortgage loans:

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Loan quality is likely to improve substantially	0	0.0	0	0.0	0	0.0
Loan quality is likely to improve somewhat	0	0.0	0	0.0	0	0.0
Loan quality is likely to stabilize around current levels	2	25.0	2	33.3	0	0.0
Loan quality is likely to deteriorate somewhat	4	50.0	3	50.0	1	50.0
Loan quality is likely to deteriorate substantially	2	25.0	1	16.7	1	50.0
Total	8	100.0	6	100.0	2	100.0

For this question, 41 respondents answered “My bank does not originate this type of loan.”

D. Outlook for loan quality on home equity lines of credit:

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Loan quality is likely to improve substantially	0	0.0	0	0.0	0	0.0
Loan quality is likely to improve somewhat	0	0.0	0	0.0	0	0.0
Loan quality is likely to stabilize around current levels	9	17.3	4	13.8	5	21.7
Loan quality is likely to deteriorate somewhat	38	73.1	22	75.9	16	69.6
Loan quality is likely to deteriorate substantially	5	9.6	3	10.3	2	8.7
Total	52	100.0	29	100.0	23	100.0

E. Outlook for loan quality on credit card loans:

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Loan quality is likely to improve substantially	0	0.0	0	0.0	0	0.0
Loan quality is likely to improve somewhat	0	0.0	0	0.0	0	0.0
Loan quality is likely to stabilize around current levels	3	9.7	3	15.8	0	0.0
Loan quality is likely to deteriorate somewhat	24	77.4	14	73.7	10	83.3
Loan quality is likely to deteriorate substantially	4	12.9	2	10.5	2	16.7
Total	31	100.0	19	100.0	12	100.0

For this question, 18 respondents answered “My bank does not originate this type of loan.”

F. Outlook for loan quality on consumer loans other than credit cards:

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Loan quality is likely to improve substantially	0	0.0	0	0.0	0	0.0
Loan quality is likely to improve somewhat	1	2.0	0	0.0	1	4.3
Loan quality is likely to stabilize around current levels	12	24.0	9	33.3	3	13.0
Loan quality is likely to deteriorate somewhat	36	72.0	18	66.7	18	78.3
Loan quality is likely to deteriorate substantially	1	2.0	0	0.0	1	4.3
Total	50	100.0	27	100.0	23	100.0

For this question, 2 respondents answered “My bank does not originate this type of loan.”

Questions 22-25 ask about international trade finance at your bank. Question 22 asks whether your bank provides international trade finance. Question 23 deals with changes in your bank’s standards and terms over the past six months. Questions 24-25 deal with changes in demand for such credit. If your bank’s lending standards or terms have not changed over the relevant period, please report them as unchanged even if they are either restrictive or accommodative relative to longer-terms norms. If your bank’s standards or terms have tightened or eased over the relevant period, please so report them regardless of how they stand relative to longer-term norms. Also, please report changes in enforcement of existing standards as changes in standards.

22. Some banks provide international trade finance through letters of credit guaranteeing payment, overdraft facilities, and other mechanisms for facilitating trade. Does your bank provide international trade finance?

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Yes	35	67.3	21	72.4	14	60.9
No	17	32.7	8	27.6	9	39.1
Total	52	100.0	29	100.0	23	100.0

23. If your answer to question 22 was ‘Yes,’ over the past six months how have your bank’s credit standards and terms for providing such finance changed?

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	2	5.7	2	9.5	0	0.0
Tightened somewhat	19	54.3	12	57.1	7	50.0
Remained basically unchanged	14	40.0	7	33.3	7	50.0
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	35	100.0	21	100.0	14	100.0

24. If your bank provides international trade finance (answer ‘Yes’ to question 22), and your bank has tightened or eased its credit standards or its terms for credit over the past six months (as described in question 23), how important have been the following possible reasons for the change? (Please respond to either A or B, as appropriate, and rate each possible reason using the following scale: 1=not important, 2=somewhat important, 3=very important)

A. Possible reasons for tightening credit standards or terms:

a. Deterioration in your bank’s current or expected capital or liquidity position

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not Important	16	72.7	11	73.3	5	71.4
Somewhat Important	5	22.7	4	26.7	1	14.3
Very Important	1	4.5	0	0.0	1	14.3
Total	22	100.0	15	100.0	7	100.0

b. Less favorable or more uncertain economic outlook for the United States

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not Important	4	18.2	3	20.0	1	14.3
Somewhat Important	15	68.2	10	66.7	5	71.4
Very Important	3	13.6	2	13.3	1	14.3
Total	22	100.0	15	100.0	7	100.0

c. Less favorable or more uncertain economic outlook abroad

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not Important	2	9.1	0	0.0	2	28.6
Somewhat Important	13	59.1	10	66.7	3	42.9
Very Important	7	31.8	5	33.3	2	28.6
Total	22	100.0	15	100.0	7	100.0

d. Increased concern about foreign country risk

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not Important	2	9.1	1	6.7	1	14.3
Somewhat Important	14	63.6	10	66.7	4	57.1
Very Important	6	27.3	4	26.7	2	28.6
Total	22	100.0	15	100.0	7	100.0

e. Worsening of industry-specific problems

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not Important	2	9.5	1	7.1	1	14.3
Somewhat Important	10	47.6	6	42.9	4	57.1
Very Important	9	42.9	7	50.0	2	28.6
Total	21	100.0	14	100.0	7	100.0

f. Less aggressive competition from other banks or nonbank lenders (other financial intermediaries on the capital markets)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not Important	17	77.3	12	80.0	5	71.4
Somewhat Important	5	22.7	3	20.0	2	28.6
Very Important	0	0.0	0	0.0	0	0.0
Total	22	100.0	15	100.0	7	100.0

g. Reduced tolerance for risk

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not Important	3	13.6	2	13.3	1	14.3
Somewhat Important	16	72.7	12	80.0	4	57.1
Very Important	3	13.6	1	6.7	2	28.6
Total	22	100.0	15	100.0	7	100.0

h. Decreased liquidity in the secondary market for these loans

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not Important	14	63.6	8	53.3	6	85.7
Somewhat Important	7	31.8	6	40.0	1	14.3
Very Important	1	4.5	1	6.7	0	0.0
Total	22	100.0	15	100.0	7	100.0

B. Possible reasons for easing credit standards or terms:

a. Improvement in your bank’s current or expected capital or liquidity position

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not Important	0	--	0	--	0	--
Somewhat Important	0	--	0	--	0	--
Very Important	0	--	0	--	0	--
Total	0	--	0	--	0	--

b. More favorable or less uncertain economic outlook for the United States

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not Important	0	--	0	--	0	--
Somewhat Important	0	--	0	--	0	--
Very Important	0	--	0	--	0	--
Total	0	--	0	--	0	--

c. More favorable or less uncertain economic outlook abroad

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not Important	0	--	0	--	0	--
Somewhat Important	0	--	0	--	0	--
Very Important	0	--	0	--	0	--
Total	0	--	0	--	0	--

d. Decreased concern about foreign country risk

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not Important	0	--	0	--	0	--
Somewhat Important	0	--	0	--	0	--
Very Important	0	--	0	--	0	--
Total	0	--	0	--	0	--

e. Improvement in industry-specific problems

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not Important	0	--	0	--	0	--
Somewhat Important	0	--	0	--	0	--
Very Important	0	--	0	--	0	--
Total	0	--	0	--	0	--

f. More aggressive competition from other banks or nonbank lenders (other financial intermediaries on the capital markets)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not Important	0	--	0	--	0	--
Somewhat Important	0	--	0	--	0	--
Very Important	0	--	0	--	0	--
Total	0	--	0	--	0	--

g. Increased tolerance for risk

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not Important	0	--	0	--	0	--
Somewhat Important	0	--	0	--	0	--
Very Important	0	--	0	--	0	--
Total	0	--	0	--	0	--

h. Increased liquidity in the secondary market for these loans

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not Important	0	--	0	--	0	--
Somewhat Important	0	--	0	--	0	--
Very Important	0	--	0	--	0	--
Total	0	--	0	--	0	--

25. If your bank provides international trade finance (answer ‘Yes’ to question 22), apart from normal seasonal variation, how has demand for trade credit changed over the past six months?

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Substantially stronger	0	0.0	0	0.0	0	0.0
Moderately stronger	1	2.9	0	0.0	1	7.1
About the same	9	25.7	3	14.3	6	42.9
Moderately weaker	24	68.6	17	81.0	7	50.0
Substantially weaker	1	2.9	1	4.8	0	0.0
Total	35	100.0	21	100.0	14	100.0

1. The sample is selected from among the largest banks in each Federal Reserve District. In the table, large banks are defined as those with total domestic assets of $20 billion or more as of December 31, 2008. The combined assets of the 31 large banks totaled $6.2 trillion, compared to $6.5 trillion for the entire panel of 56 banks, and 10.7 trillion for all domestically chartered, federally insured commercial banks.

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Senior Loan Officer Opinion Survey on Bank Lending PracticesApril 2009

Table 1

Senior Loan Officer Opinion Survey on Bank Lending Practices at Selected Large Banks in the United States 1

(Status of policy as of April 2009)

Senior Loan Officer Opinion Survey on Bank Lending Practices
April 2009

Senior Loan Officer Opinion Survey on Bank Lending Practices
at Selected Large Banks in the United States ¹