Senior Loan Officer Opinion Survey on Bank Lending Practices
October 2013

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 October 2013)

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	0	0.0	0	0.0	0	0.0
Tightened somewhat	2	2.8	0	0.0	2	5.7
Remained basically unchanged	62	86.1	32	86.5	30	85.7
Eased somewhat	8	11.1	5	13.5	3	8.6
Eased considerably	0	0.0	0	0.0	0	0.0
Total	72	100.0	37	100.0	35	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	0	0.0	0	0.0	0	0.0
Tightened somewhat	2	2.9	0	0.0	2	5.6
Remained basically unchanged	61	87.1	30	88.2	31	86.1
Eased somewhat	7	10.0	4	11.8	3	8.3
Eased considerably	0	0.0	0	0.0	0	0.0
Total	70	100.0	34	100.0	36	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	0	0.0	0	0.0	0	0.0
Tightened somewhat	1	1.4	0	0.0	1	2.9
Remained basically unchanged	59	81.9	28	75.7	31	88.6
Eased somewhat	12	16.7	9	24.3	3	8.6
Eased considerably	0	0.0	0	0.0	0	0.0
Total	72	100.0	37	100.0	35	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	1	1.4	0	0.0	1	2.9
Remained basically unchanged	60	83.3	30	81.1	30	85.7
Eased somewhat	11	15.3	7	18.9	4	11.4
Eased considerably	0	0.0	0	0.0	0	0.0
Total	72	100.0	37	100.0	35	100.0

c. Costs of 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	1	1.4	0	0.0	1	2.9
Remained basically unchanged	46	63.9	24	64.9	22	62.9
Eased somewhat	23	31.9	11	29.7	12	34.3
Eased considerably	2	2.8	2	5.4	0	0.0
Total	72	100.0	37	100.0	35	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	0	0.0	0	0.0	0	0.0
Tightened somewhat	2	2.8	0	0.0	2	5.7
Remained basically unchanged	29	40.3	12	32.4	17	48.6
Eased somewhat	38	52.8	23	62.2	15	42.9
Eased considerably	3	4.2	2	5.4	1	2.9
Total	72	100.0	37	100.0	35	100.0

e. Premiums charged on riskier loans

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	1	1.4	0	0.0	1	2.9
Tightened somewhat	2	2.8	0	0.0	2	5.7
Remained basically unchanged	60	83.3	30	81.1	30	85.7
Eased somewhat	9	12.5	7	18.9	2	5.7
Eased considerably	0	0.0	0	0.0	0	0.0
Total	72	100.0	37	100.0	35	100.0

f. Loan covenants

	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	3	4.2	0	0.0	3	8.6
Remained basically unchanged	53	73.6	25	67.6	28	80.0
Eased somewhat	15	20.8	11	29.7	4	11.4
Eased considerably	1	1.4	1	2.7	0	0.0
Total	72	100.0	37	100.0	35	100.0

g. Collateralization requirements

	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	1	1.4	0	0.0	1	2.9
Remained basically unchanged	64	88.9	32	86.5	32	91.4
Eased somewhat	7	9.7	5	13.5	2	5.7
Eased considerably	0	0.0	0	0.0	0	0.0
Total	72	100.0	37	100.0	35	100.0

h. Use of interest rate floors (more use=tightened, less use=eased)

	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	3	4.2	0	0.0	3	8.6
Remained basically unchanged	44	62.0	26	72.2	18	51.4
Eased somewhat	16	22.5	6	16.7	10	28.6
Eased considerably	8	11.3	4	11.1	4	11.4
Total	71	100.0	36	100.0	35	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	0	0.0	0	0.0	0	0.0
Tightened somewhat	1	1.4	0	0.0	1	2.8
Remained basically unchanged	64	91.4	30	88.2	34	94.4
Eased somewhat	5	7.1	4	11.8	1	2.8
Eased considerably	0	0.0	0	0.0	0	0.0
Total	70	100.0	34	100.0	36	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	1	1.4	0	0.0	1	2.8
Remained basically unchanged	59	84.3	27	79.4	32	88.9
Eased somewhat	10	14.3	7	20.6	3	8.3
Eased considerably	0	0.0	0	0.0	0	0.0
Total	70	100.0	34	100.0	36	100.0

c. Costs of 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	1	1.4	0	0.0	1	2.8
Remained basically unchanged	51	72.9	25	73.5	26	72.2
Eased somewhat	17	24.3	8	23.5	9	25.0
Eased considerably	1	1.4	1	2.9	0	0.0
Total	70	100.0	34	100.0	36	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	0	0.0	0	0.0	0	0.0
Tightened somewhat	2	2.9	0	0.0	2	5.6
Remained basically unchanged	31	44.3	13	38.2	18	50.0
Eased somewhat	35	50.0	19	55.9	16	44.4
Eased considerably	2	2.9	2	5.9	0	0.0
Total	70	100.0	34	100.0	36	100.0

e. Premiums charged on riskier loans

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	1	1.4	0	0.0	1	2.8
Tightened somewhat	1	1.4	0	0.0	1	2.8
Remained basically unchanged	61	87.1	30	88.2	31	86.1
Eased somewhat	7	10.0	4	11.8	3	8.3
Eased considerably	0	0.0	0	0.0	0	0.0
Total	70	100.0	34	100.0	36	100.0

f. Loan covenants

	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	4	5.7	0	0.0	4	11.1
Remained basically unchanged	57	81.4	27	79.4	30	83.3
Eased somewhat	8	11.4	6	17.6	2	5.6
Eased considerably	1	1.4	1	2.9	0	0.0
Total	70	100.0	34	100.0	36	100.0

g. Collateralization requirements

	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	1	1.4	0	0.0	1	2.8
Remained basically unchanged	61	87.1	30	88.2	31	86.1
Eased somewhat	8	11.4	4	11.8	4	11.1
Eased considerably	0	0.0	0	0.0	0	0.0
Total	70	100.0	34	100.0	36	100.0

h. Use of interest rate floors (more use=tightened, less use=eased)

	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	3	4.5	0	0.0	3	8.6
Remained basically unchanged	39	59.1	22	71.0	17	48.6
Eased somewhat	19	28.8	7	22.6	12	34.3
Eased considerably	5	7.6	2	6.5	3	8.6
Total	66	100.0	31	100.0	35	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	4	100.0	0	--	4	100.0
Somewhat important	0	0.0	0	--	0	0.0
Very important	0	0.0	0	--	0	0.0
Total	4	100.0	0	--	4	100.0

b. Less favorable or more uncertain economic outlook

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

e. Reduced tolerance for risk

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	2	50.0	0	--	2	50.0
Somewhat important	2	50.0	0	--	2	50.0
Very important	0	0.0	0	--	0	0.0
Total	4	100.0	0	--	4	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	4	100.0	0	--	4	100.0
Somewhat important	0	0.0	0	--	0	0.0
Very important	0	0.0	0	--	0	0.0
Total	4	100.0	0	--	4	100.0

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

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

h. Increased concerns about the effects of legislative changes, supervisory actions, or changes in accounting standards

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	3	75.0	0	--	3	75.0
Somewhat important	1	25.0	0	--	1	25.0
Very important	0	0.0	0	--	0	0.0
Total	4	100.0	0	--	4	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	40	90.9	25	96.2	15	83.3
Somewhat important	4	9.1	1	3.8	3	16.7
Very important	0	0.0	0	0.0	0	0.0
Total	44	100.0	26	100.0	18	100.0

b. More favorable or less uncertain economic outlook

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	29	65.9	18	69.2	11	61.1
Somewhat important	14	31.8	7	26.9	7	38.9
Very important	1	2.3	1	3.8	0	0.0
Total	44	100.0	26	100.0	18	100.0

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

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	37	84.1	24	92.3	13	72.2
Somewhat important	7	15.9	2	7.7	5	27.8
Very important	0	0.0	0	0.0	0	0.0
Total	44	100.0	26	100.0	18	100.0

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	0	0.0	0	0.0	0	0.0
Somewhat important	14	31.8	6	23.1	8	44.4
Very important	30	68.2	20	76.9	10	55.6
Total	44	100.0	26	100.0	18	100.0

e. Increased tolerance for risk

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	30	68.2	20	76.9	10	55.6
Somewhat important	14	31.8	6	23.1	8	44.4
Very important	0	0.0	0	0.0	0	0.0
Total	44	100.0	26	100.0	18	100.0

f. Increased liquidity in the secondary market for these loans

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	36	81.8	19	73.1	17	94.4
Somewhat important	6	13.6	5	19.2	1	5.6
Very important	2	4.5	2	7.7	0	0.0
Total	44	100.0	26	100.0	18	100.0

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

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	36	81.8	23	88.5	13	72.2
Somewhat important	8	18.2	3	11.5	5	27.8
Very important	0	0.0	0	0.0	0	0.0
Total	44	100.0	26	100.0	18	100.0

h. Reduced concerns about the effects of legislative changes, supervisory actions, or changes in accounting standards

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	43	97.7	26	100.0	17	94.4
Somewhat important	1	2.3	0	0.0	1	5.6
Very important	0	0.0	0	0.0	0	0.0
Total	44	100.0	26	100.0	18	100.0

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	12	16.7	4	10.8	8	22.9
About the same	49	68.1	26	70.3	23	65.7
Moderately weaker	11	15.3	7	18.9	4	11.4
Substantially weaker	0	0.0	0	0.0	0	0.0
Total	72	100.0	37	100.0	35	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	10	14.3	1	2.9	9	25.0
About the same	50	71.4	27	79.4	23	63.9
Moderately weaker	10	14.3	6	17.6	4	11.1
Substantially weaker	0	0.0	0	0.0	0	0.0
Total	70	100.0	34	100.0	36	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	7	46.7	4	80.0	3	30.0
Somewhat important	7	46.7	1	20.0	6	60.0
Very important	1	6.7	0	0.0	1	10.0
Total	15	100.0	5	100.0	10	100.0

b. Customer accounts receivable financing needs increased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	6	40.0	4	80.0	2	20.0
Somewhat important	8	53.3	1	20.0	7	70.0
Very important	1	6.7	0	0.0	1	10.0
Total	15	100.0	5	100.0	10	100.0

c. Customer investment in plant or equipment increased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	5	33.3	3	60.0	2	20.0
Somewhat important	8	53.3	2	40.0	6	60.0
Very important	2	13.3	0	0.0	2	20.0
Total	15	100.0	5	100.0	10	100.0

d. Customer internally generated funds decreased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	12	80.0	4	80.0	8	80.0
Somewhat important	3	20.0	1	20.0	2	20.0
Very important	0	0.0	0	0.0	0	0.0
Total	15	100.0	5	100.0	10	100.0

e. Customer merger or acquisition financing needs increased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	4	26.7	1	20.0	3	30.0
Somewhat important	9	60.0	4	80.0	5	50.0
Very important	2	13.3	0	0.0	2	20.0
Total	15	100.0	5	100.0	10	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	8	53.3	3	60.0	5	50.0
Somewhat important	4	26.7	1	20.0	3	30.0
Very important	3	20.0	1	20.0	2	20.0
Total	15	100.0	5	100.0	10	100.0

g. Customers' precautionary demand for cash and liquidity increased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	11	73.3	3	60.0	8	80.0
Somewhat important	3	20.0	2	40.0	1	10.0
Very important	1	6.7	0	0.0	1	10.0
Total	15	100.0	5	100.0	10	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	7	50.0	4	50.0	3	50.0
Somewhat important	7	50.0	4	50.0	3	50.0
Very important	0	0.0	0	0.0	0	0.0
Total	14	100.0	8	100.0	6	100.0

b. Customer accounts receivable financing needs decreased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	8	57.1	5	62.5	3	50.0
Somewhat important	6	42.9	3	37.5	3	50.0
Very important	0	0.0	0	0.0	0	0.0
Total	14	100.0	8	100.0	6	100.0

c. Customer investment in plant or equipment decreased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	3	21.4	1	12.5	2	33.3
Somewhat important	10	71.4	6	75.0	4	66.7
Very important	1	7.1	1	12.5	0	0.0
Total	14	100.0	8	100.0	6	100.0

d. Customer internally generated funds increased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	8	57.1	4	50.0	4	66.7
Somewhat important	4	28.6	3	37.5	1	16.7
Very important	2	14.3	1	12.5	1	16.7
Total	14	100.0	8	100.0	6	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	57.1	4	50.0	4	66.7
Somewhat important	5	35.7	3	37.5	2	33.3
Very important	1	7.1	1	12.5	0	0.0
Total	14	100.0	8	100.0	6	100.0

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

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	7	50.0	4	50.0	3	50.0
Somewhat important	5	35.7	2	25.0	3	50.0
Very important	2	14.3	2	25.0	0	0.0
Total	14	100.0	8	100.0	6	100.0

g. Customers’ precautionary demand for cash and liquidity decreased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	13	92.9	7	87.5	6	100.0
Somewhat important	1	7.1	1	12.5	0	0.0
Very important	0	0.0	0	0.0	0	0.0
Total	14	100.0	8	100.0	6	100.0

6. At your bank, apart from seasonal variation, 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 or increased 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	14	19.2	2	5.4	12	33.3
The number of inquiries has stayed about the same	49	67.1	28	75.7	21	58.3
The number of inquiries has decreased moderately	10	13.7	7	18.9	3	8.3
The number of inquiries has decreased substantially	0	0.0	0	0.0	0	0.0
Total	73	100.0	37	100.0	36	100.0

Questions 7-12 ask about changes in standards and demand over the past three months for three different types of CRE loans at your bank: construction and land development loans, loans secured by nonfarm nonresidential properties, and loans secured by multifamily residential properties. Please report changes in enforcement of existing policies as changes in policies.

7. Over the past three months, how have your bank's credit standards for approving new applications for construction and land development loans or credit lines changed?

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	1	1.4	1	2.9	0	0.0
Tightened somewhat	2	2.8	0	0.0	2	5.6
Remained basically unchanged	58	81.7	29	82.9	29	80.6
Eased somewhat	10	14.1	5	14.3	5	13.9
Eased considerably	0	0.0	0	0.0	0	0.0
Total	71	100.0	35	100.0	36	100.0

8. Over the past three months, how have your bank's credit standards for approving new applications for loans secured by nonfarm nonresidential properties changed?

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	1	1.4	0	0.0	1	2.8
Tightened somewhat	1	1.4	0	0.0	1	2.8
Remained basically unchanged	64	87.7	32	86.5	32	88.9
Eased somewhat	7	9.6	5	13.5	2	5.6
Eased considerably	0	0.0	0	0.0	0	0.0
Total	73	100.0	37	100.0	36	100.0

9. Over the past three months, how have your bank's credit standards for approving new applications for loans secured by multifamily residential properties changed?

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	1	1.4	0	0.0	1	2.8
Tightened somewhat	7	9.7	1	2.8	6	16.7
Remained basically unchanged	49	68.1	25	69.4	24	66.7
Eased somewhat	14	19.4	9	25.0	5	13.9
Eased considerably	1	1.4	1	2.8	0	0.0
Total	72	100.0	36	100.0	36	100.0

10. Apart from normal seasonal variation, how has demand for construction and land development loans changed over the past three months? (Please consider the number of requests for new spot loans, for disbursement of funds under existing loan commitments, and for new or increased credit lines.)

	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	24	33.8	10	28.6	14	38.9
About the same	43	60.6	22	62.9	21	58.3
Moderately weaker	3	4.2	2	5.7	1	2.8
Substantially weaker	1	1.4	1	2.9	0	0.0
Total	71	100.0	35	100.0	36	100.0

11. Apart from normal seasonal variation, how has demand for loans secured by nonfarm nonresidential properties changed over the past three months? (Please consider the number of requests for new spot loans, for disbursement of funds under existing loan commitments, and for new or increased credit lines.)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Substantially stronger	1	1.4	1	2.7	0	0.0
Moderately stronger	21	28.8	7	18.9	14	38.9
About the same	48	65.8	28	75.7	20	55.6
Moderately weaker	2	2.7	1	2.7	1	2.8
Substantially weaker	1	1.4	0	0.0	1	2.8
Total	73	100.0	37	100.0	36	100.0

12. Apart from normal seasonal variation, how has demand for loans secured by multifamily residential properties changed over the past three months? (Please consider the number of requests for new spot loans, for disbursement of funds under existing loan commitments, and for new or increased credit lines.)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Substantially stronger	1	1.4	0	0.0	1	2.8
Moderately stronger	25	34.7	11	30.6	14	38.9
About the same	41	56.9	22	61.1	19	52.8
Moderately weaker	5	6.9	3	8.3	2	5.6
Substantially weaker	0	0.0	0	0.0	0	0.0
Total	72	100.0	36	100.0	36	100.0

Questions 13-14 ask about three categories of residential mortgage loans at your bank—prime residential mortgages, nontraditional residential mortgages, and subprime residential mortgages. Question 13 deals with changes in your bank's credit standards for loans in each of these categories over the past three months. Question 14 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.

13. 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	1	1.4	0	0.0	1	2.9
Tightened somewhat	3	4.3	0	0.0	3	8.6
Remained basically unchanged	55	79.7	25	73.5	30	85.7
Eased somewhat	10	14.5	9	26.5	1	2.9
Eased considerably	0	0.0	0	0.0	0	0.0
Total	69	100.0	34	100.0	35	100.0

For this question, 1 respondent 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	1	3.0	0	0.0	1	7.1
Tightened somewhat	1	3.0	0	0.0	1	7.1
Remained basically unchanged	29	87.9	17	89.5	12	85.7
Eased somewhat	2	6.1	2	10.5	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	33	100.0	19	100.0	14	100.0

For this question, 37 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.

14. 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	0	0.0	0	0.0	0	0.0
Moderately stronger	20	29.0	5	14.7	15	42.9
About the same	24	34.8	13	38.2	11	31.4
Moderately weaker	19	27.5	12	35.3	7	20.0
Substantially weaker	6	8.7	4	11.8	2	5.7
Total	69	100.0	34	100.0	35	100.0

For this question, 1 respondent 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	0	0.0	0	0.0	0	0.0
Moderately stronger	5	15.2	2	10.5	3	21.4
About the same	18	54.5	11	57.9	7	50.0
Moderately weaker	9	27.3	5	26.3	4	28.6
Substantially weaker	1	3.0	1	5.3	0	0.0
Total	33	100.0	19	100.0	14	100.0

For this question, 37 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 15-16 ask about revolving home equity lines of credit at your bank. Question 15 deals with changes in your bank's credit standards over the past three months. Question 16 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.

15. 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	1	1.4	0	0.0	1	2.9
Tightened somewhat	1	1.4	1	2.9	0	0.0
Remained basically unchanged	61	88.4	30	85.7	31	91.2
Eased somewhat	6	8.7	4	11.4	2	5.9
Eased considerably	0	0.0	0	0.0	0	0.0
Total	69	100.0	35	100.0	34	100.0

16. 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	0	0.0	0	0.0	0	0.0
Moderately stronger	15	21.7	8	22.9	7	20.6
About the same	45	65.2	23	65.7	22	64.7
Moderately weaker	8	11.6	3	8.6	5	14.7
Substantially weaker	1	1.4	1	2.9	0	0.0
Total	69	100.0	35	100.0	34	100.0

Since May 2013, fixed-rate mortgage interest rates have increased roughly 100 basis points. Questions 17-18 ask how the volume of applications for home purchase loans and refinancing at your bank has changed over this period. If your bank has experienced a decrease in the volume of applications for mortgage refinancing over this period, Question 19 asks to what extent your bank has responded by changing its lending policies and activities in the market for home purchase loans. Question 20 asks you to compare your bank's current policies in approving applications for GSE-eligible home purhcase loans relative to those policies that prevailed in the spring (prior to the increase in mortgage rates). Question 21 asks how the demand for adjustable-rate mortgages has changed relative to the demand for fixed-rate mortgages for home purchase loans over this period. Question 22 asks about your bank's expectations for the volume of applications for home purchase loans over the coming year.

17. Apart from normal seasonal variation, how would you compare the recent volume of applications your bank has received for home purchase loans with the volume your bank experienced in the spring (prior to the increase in mortgage rates)?

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Application volume is currently substantially higher	0	0.0	0	0.0	0	0.0
Application volume is currently moderately higher	17	24.6	6	17.6	11	31.4
Application volume is little changed	23	33.3	13	38.2	10	28.6
Application volume is currently moderately lower	24	34.8	11	32.4	13	37.1
Application volume is currently substantially lower	5	7.2	4	11.8	1	2.9
Total	69	100.0	34	100.0	35	100.0

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

18. Apart from normal seasonal variation, how would you compare the recent volume of applications your bank has received for mortgage refinancing with the volume your bank experienced in the spring (prior to the increase in mortgage rates)?

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Application volume is currently substantially higher	0	0.0	0	0.0	0	0.0
Application volume is currently moderately higher	1	1.5	1	2.9	0	0.0
Application volume is little changed	4	5.9	2	5.9	2	5.9
Application volume is currently moderately lower	22	32.4	11	32.4	11	32.4
Application volume is currently substantially lower	41	60.3	20	58.8	21	61.8
Total	68	100.0	34	100.0	34	100.0

For this question, 2 respondents answered “My bank does not refinance residential mortgages.”

19. If your bank has experienced a decrease in the volume of applications for mortgage refinancing since the spring (answers 4 or 5 to Question 18 ), to what extent has your bank changed the following lending policies and activities in the market for home purchase loans in response to this decrease?

a. The time between application and origination for home purchase loans

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Reduced considerably	2	3.2	0	0.0	2	6.3
Reduced somewhat	28	44.4	13	41.9	15	46.9
Remained basically unchanged	32	50.8	18	58.1	14	43.8
Increased somewhat	1	1.6	0	0.0	1	3.1
Increased considerably	0	0.0	0	0.0	0	0.0
Total	63	100.0	31	100.0	32	100.0

b. The minimum FICO score required from borrowers

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Reduced considerably	1	1.6	0	0.0	1	3.2
Reduced somewhat	2	3.2	2	6.5	0	0.0
Remained basically unchanged	59	95.2	29	93.5	30	96.8
Increased somewhat	0	0.0	0	0.0	0	0.0
Increased considerably	0	0.0	0	0.0	0	0.0
Total	62	100.0	31	100.0	31	100.0

c. The minimum down payment required from borrowers

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Reduced considerably	1	1.6	0	0.0	1	3.1
Reduced somewhat	1	1.6	1	3.2	0	0.0
Remained basically unchanged	61	96.8	30	96.8	31	96.9
Increased somewhat	0	0.0	0	0.0	0	0.0
Increased considerably	0	0.0	0	0.0	0	0.0
Total	63	100.0	31	100.0	32	100.0

d. Marketing of home purchase loans to potential borrowers

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Reduced considerably	1	1.6	0	0.0	1	3.1
Reduced somewhat	0	0.0	0	0.0	0	0.0
Remained basically unchanged	32	50.8	19	61.3	13	40.6
Increased somewhat	24	38.1	11	35.5	13	40.6
Increased considerably	6	9.5	1	3.2	5	15.6
Total	63	100.0	31	100.0	32	100.0

e. Loan origination or processing fees

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Reduced considerably	2	3.2	0	0.0	2	6.3
Reduced somewhat	1	1.6	1	3.2	0	0.0
Remained basically unchanged	59	93.7	29	93.5	30	93.8
Increased somewhat	1	1.6	1	3.2	0	0.0
Increased considerably	0	0.0	0	0.0	0	0.0
Total	63	100.0	31	100.0	32	100.0

f. Staff responsible for processing or originating home purchase loans

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Reduced considerably	5	7.9	2	6.5	3	9.4
Reduced somewhat	14	22.2	8	25.8	6	18.8
Remained basically unchanged	39	61.9	17	54.8	22	68.8
Increased somewhat	5	7.9	4	12.9	1	3.1
Increased considerably	0	0.0	0	0.0	0	0.0
Total	63	100.0	31	100.0	32	100.0

g. Other (please specify)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Reduced considerably	0	0.0	0	0.0	0	0.0
Reduced somewhat	1	33.3	0	0.0	1	100.0
Remained basically unchanged	2	66.7	2	100.0	0	0.0
Increased somewhat	0	0.0	0	0.0	0	0.0
Increased considerably	0	0.0	0	0.0	0	0.0
Total	3	100.0	2	100.0	1	100.0

20. Compared with spring (prior to the increase in mortgage rates), currently how much more or less likely is your bank to approve an application for a 30-year fixed-rate GSE-eligible home purchase mortgage loan to a borrower with the stated FICO score (or equivalent) and down payment? In each case, assume that all other characteristics of the borrower and the property are typical for loan applications that are eligible for sale to the GSEs with that FICO score (or equivalent) and down payment.

a. A borrower with a FICO score (or equivalent) of 620 and a down payment of 10 percent

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Much less likely	4	6.3	1	3.1	3	9.4
Somewhat less likely	2	3.1	1	3.1	1	3.1
About the same	55	85.9	29	90.6	26	81.3
Somewhat more likely	3	4.7	1	3.1	2	6.3
Much more likely	0	0.0	0	0.0	0	0.0
Total	64	100.0	32	100.0	32	100.0

b. A borrower with a FICO score (or equivalent) of 680 and a down payment of 10 percent

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Much less likely	1	1.5	0	0.0	1	3.0
Somewhat less likely	2	3.0	2	6.1	0	0.0
About the same	61	92.4	30	90.9	31	93.9
Somewhat more likely	2	3.0	1	3.0	1	3.0
Much more likely	0	0.0	0	0.0	0	0.0
Total	66	100.0	33	100.0	33	100.0

c. A borrower with a FICO score (or equivalent) of 720 and a down payment of 10 percent

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Much less likely	0	0.0	0	0.0	0	0.0
Somewhat less likely	1	1.5	0	0.0	1	3.0
About the same	64	97.0	32	97.0	32	97.0
Somewhat more likely	1	1.5	1	3.0	0	0.0
Much more likely	0	0.0	0	0.0	0	0.0
Total	66	100.0	33	100.0	33	100.0

d. A borrower with a FICO score (or equivalent) of 620 and a down payment of 20 percent

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Much less likely	3	4.6	1	3.0	2	6.3
Somewhat less likely	3	4.6	1	3.0	2	6.3
About the same	58	89.2	31	93.9	27	84.4
Somewhat more likely	1	1.5	0	0.0	1	3.1
Much more likely	0	0.0	0	0.0	0	0.0
Total	65	100.0	33	100.0	32	100.0

e. A borrower with a FICO score (or equivalent) of 680 and a down payment of 20 percent

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Much less likely	0	0.0	0	0.0	0	0.0
Somewhat less likely	3	4.5	1	3.0	2	6.1
About the same	63	95.5	32	97.0	31	93.9
Somewhat more likely	0	0.0	0	0.0	0	0.0
Much more likely	0	0.0	0	0.0	0	0.0
Total	66	100.0	33	100.0	33	100.0

f. A borrower with a FICO score (or equivalent) of 720 and a down payment of 20 percent

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Much less likely	0	0.0	0	0.0	0	0.0
Somewhat less likely	0	0.0	0	0.0	0	0.0
About the same	64	98.5	31	96.9	33	100.0
Somewhat more likely	1	1.5	1	3.1	0	0.0
Much more likely	0	0.0	0	0.0	0	0.0
Total	65	100.0	32	100.0	33	100.0

21. Now consider the volume of all applications for residential mortgages at your bank, including applications for both home purchase loans and mortgage refinancing. Since the spring (prior to the increase in mortgage rates), how has the relative volume of applications for fixed-rate mortgages (FRM) versus adjustable-rate mortgages (ARM) changed at your bank? Since the spring (prior to the increase in mortgage rates), the relative volume of all applications for residential mortgages at my bank has:

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Shifted substantially towards FRM and away from ARM	1	1.5	1	3.0	0	0.0
Shifted moderately towards FRM and away from ARM	6	8.8	2	6.1	4	11.4
Changed little	41	60.3	19	57.6	22	62.9
Shifted moderately towards ARM and away from FRM	20	29.4	11	33.3	9	25.7
Shifted substantially towards ARM and away from FRM	0	0.0	0	0.0	0	0.0
Total	68	100.0	33	100.0	35	100.0

For this question, 1 respondent answered “My bank does not originate ARM” and 1 respondent answered “My bank does not originate residential mortgage loans.”

22. Assuming that the economy and interest rates evolve in line with consensus forecasts, how do you expect the volume of applications for home purchase loans will evolve at your bank over the next 12 months? Over the next 12 months, the volume of applications for home purchase loans at my bank will:

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Increase substantially	1	1.4	0	0.0	1	2.9
Increase moderately	25	36.2	14	41.2	11	31.4
Remain about the same	22	31.9	13	38.2	9	25.7
Decrease moderately	17	24.6	5	14.7	12	34.3
Decrease substantially	4	5.8	2	5.9	2	5.7
Total	69	100.0	34	100.0	35	100.0

For this question, 1 respondent answered “My bank does not originate home purchase loans.”

Questions 23-32 ask about consumer lending at your bank. Question 23 deals with changes in your bank's willingness to make consumer loans over the past three months. Questions 24-29 deal with changes in credit standards and loan terms over the same period. Questions 30-32deal 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.

23. 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	1.4	1	3.0	0	0.0
Somewhat more willing	9	13.0	2	6.1	7	19.4
About unchanged	59	85.5	30	90.9	29	80.6
Somewhat less willing	0	0.0	0	0.0	0	0.0
Much less willing	0	0.0	0	0.0	0	0.0
Total	69	100.0	33	100.0	36	100.0

24. 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	0	0.0	0	0.0	0	0.0
Tightened somewhat	1	1.7	0	0.0	1	3.4
Remained basically unchanged	53	91.4	27	93.1	26	89.7
Eased somewhat	4	6.9	2	6.9	2	6.9
Eased considerably	0	0.0	0	0.0	0	0.0
Total	58	100.0	29	100.0	29	100.0

25. Over the past three months, how have your bank's credit standards for approving applications for auto loans to individuals or households changed? (Please include loans arising from retail sales of passenger cars and other vehicles such as minivans, vans, sport-utility vehicles, pickup trucks, and similar light trucks for personal use, whether new or used. Please exclude loans to finance fleet sales, personal cash loans secured by automobiles already paid for, loans to finance the purchase of commercial vehicles and farm equipment, and lease financing.)

	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	0	0.0	0	0.0	0	0.0
Remained basically unchanged	57	87.7	25	80.6	32	94.1
Eased somewhat	8	12.3	6	19.4	2	5.9
Eased considerably	0	0.0	0	0.0	0	0.0
Total	65	100.0	31	100.0	34	100.0

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

	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	0	0.0	0	0.0	0	0.0
Remained basically unchanged	68	97.1	34	100.0	34	94.4
Eased somewhat	2	2.9	0	0.0	2	5.6
Eased considerably	0	0.0	0	0.0	0	0.0
Total	70	100.0	34	100.0	36	100.0

27. 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	0	0.0	0	0.0	0	0.0
Tightened somewhat	1	2.0	0	0.0	1	4.3
Remained basically unchanged	41	80.4	21	75.0	20	87.0
Eased somewhat	9	17.6	7	25.0	2	8.7
Eased considerably	0	0.0	0	0.0	0	0.0
Total	51	100.0	28	100.0	23	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	0	0.0	0	0.0	0	0.0
Tightened somewhat	0	0.0	0	0.0	0	0.0
Remained basically unchanged	47	92.2	26	92.9	21	91.3
Eased somewhat	4	7.8	2	7.1	2	8.7
Eased considerably	0	0.0	0	0.0	0	0.0
Total	51	100.0	28	100.0	23	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	0	0.0	0	0.0	0	0.0
Remained basically unchanged	49	96.1	26	92.9	23	100.0
Eased somewhat	1	2.0	1	3.6	0	0.0
Eased considerably	1	2.0	1	3.6	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	0	0.0	0	0.0	0	0.0
Tightened somewhat	0	0.0	0	0.0	0	0.0
Remained basically unchanged	49	96.1	27	96.4	22	95.7
Eased somewhat	2	3.9	1	3.6	1	4.3
Eased considerably	0	0.0	0	0.0	0	0.0
Total	51	100.0	28	100.0	23	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	1	2.0	0	0.0	1	4.3
Tightened somewhat	1	2.0	0	0.0	1	4.3
Remained basically unchanged	49	96.1	28	100.0	21	91.3
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

28. Over the past three months, how has your bank changed the following terms and conditions on loans to individuals or households to purchase autos?

a. Maximum maturity

	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	0	0.0	0	0.0	0	0.0
Remained basically unchanged	57	89.1	25	80.6	32	97.0
Eased somewhat	7	10.9	6	19.4	1	3.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	64	100.0	31	100.0	33	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	0	0.0	0	0.0	0	0.0
Tightened somewhat	5	7.8	2	6.5	3	9.1
Remained basically unchanged	45	70.3	23	74.2	22	66.7
Eased somewhat	13	20.3	6	19.4	7	21.2
Eased considerably	1	1.6	0	0.0	1	3.0
Total	64	100.0	31	100.0	33	100.0

c. Minimum required down payment (higher=tightened, lower=eased)

	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	0	0.0	0	0.0	0	0.0
Remained basically unchanged	59	92.2	27	87.1	32	97.0
Eased somewhat	5	7.8	4	12.9	1	3.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	64	100.0	31	100.0	33	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	0	0.0	0	0.0	0	0.0
Tightened somewhat	0	0.0	0	0.0	0	0.0
Remained basically unchanged	60	93.8	29	93.5	31	93.9
Eased somewhat	4	6.3	2	6.5	2	6.1
Eased considerably	0	0.0	0	0.0	0	0.0
Total	64	100.0	31	100.0	33	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	1	1.6	0	0.0	1	3.0
Tightened somewhat	0	0.0	0	0.0	0	0.0
Remained basically unchanged	59	93.7	27	90.0	32	97.0
Eased somewhat	3	4.8	3	10.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	63	100.0	30	100.0	33	100.0

29. Over the past three months, how has your bank changed the following terms and conditions on consumer loans other than credit card and auto loans?

a. Maximum maturity

	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	0	0.0	0	0.0	0	0.0
Remained basically unchanged	66	97.1	33	97.1	33	97.1
Eased somewhat	2	2.9	1	2.9	1	2.9
Eased considerably	0	0.0	0	0.0	0	0.0
Total	68	100.0	34	100.0	34	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	0	0.0	0	0.0	0	0.0
Tightened somewhat	4	5.9	2	5.9	2	5.9
Remained basically unchanged	58	85.3	30	88.2	28	82.4
Eased somewhat	6	8.8	2	5.9	4	11.8
Eased considerably	0	0.0	0	0.0	0	0.0
Total	68	100.0	34	100.0	34	100.0

c. Minimum required down payment (higher=tightened, lower=eased)

	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	0	0.0	0	0.0	0	0.0
Remained basically unchanged	66	98.5	33	97.1	33	100.0
Eased somewhat	1	1.5	1	2.9	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	67	100.0	34	100.0	33	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	0	0.0	0	0.0	0	0.0
Tightened somewhat	0	0.0	0	0.0	0	0.0
Remained basically unchanged	64	94.1	32	94.1	32	94.1
Eased somewhat	4	5.9	2	5.9	2	5.9
Eased considerably	0	0.0	0	0.0	0	0.0
Total	68	100.0	34	100.0	34	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	1	1.5	0	0.0	1	2.9
Tightened somewhat	0	0.0	0	0.0	0	0.0
Remained basically unchanged	67	98.5	34	100.0	33	97.1
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	68	100.0	34	100.0	34	100.0

30. Apart from normal seasonal variation, how has demand from individuals or households for credit card loans 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	18.0	5	17.9	4	18.2
About the same	36	72.0	19	67.9	17	77.3
Moderately weaker	5	10.0	4	14.3	1	4.5
Substantially weaker	0	0.0	0	0.0	0	0.0
Total	50	100.0	28	100.0	22	100.0

31. Apart from normal seasonal variation, how has demand from individuals or households for auto loans changed over the past three months?

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Substantially stronger	1	1.6	0	0.0	1	3.0
Moderately stronger	15	23.4	5	16.1	10	30.3
About the same	44	68.8	22	71.0	22	66.7
Moderately weaker	4	6.3	4	12.9	0	0.0
Substantially weaker	0	0.0	0	0.0	0	0.0
Total	64	100.0	31	100.0	33	100.0

32. Apart from normal seasonal variation, how has demand from individuals or households for consumer loans other than credit card and auto loans 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	5	7.2	3	8.8	2	5.7
About the same	59	85.5	28	82.4	31	88.6
Moderately weaker	5	7.2	3	8.8	2	5.7
Substantially weaker	0	0.0	0	0.0	0	0.0
Total	69	100.0	34	100.0	35	100.0

According to the Call Reports, auto loans at banks have grown rapidly this year. Questions 33-34 ask you to compare your bank's current policies on approving applications for subprime auto loans compared with the stance of those policies a year ago. (Please report changes in enforcement of existing policies as changes in policies. Please leave questions 33-34blank if your bank does not originate subprime auto loans.)

33. Over the past 12 months, how has your bank changed the following terms and conditions on loans that your bank categorizes as subprime to individuals or households to purchase new or used autos?

a. Maximum maturity (longer maturity=eased, shorter maturity= tightened)

	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	0	0.0	0	0.0	0	0.0
Remained basically unchanged	9	90.0	5	83.3	4	100.0
Eased somewhat	1	10.0	1	16.7	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	10	100.0	6	100.0	4	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	0	0.0	0	0.0	0	0.0
Tightened somewhat	1	10.0	0	0.0	1	25.0
Remained basically unchanged	6	60.0	4	66.7	2	50.0
Eased somewhat	3	30.0	2	33.3	1	25.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	10	100.0	6	100.0	4	100.0

c. Minimum required down payment (higher=tightened, lower=eased)

	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	0	0.0	0	0.0	0	0.0
Remained basically unchanged	8	80.0	5	83.3	3	75.0
Eased somewhat	2	20.0	1	16.7	1	25.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	10	100.0	6	100.0	4	100.0

d. Minimum required credit score (higher score=tightened, lower score=eased)

	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	0	0.0	0	0.0	0	0.0
Remained basically unchanged	7	77.8	4	80.0	3	75.0
Eased somewhat	2	22.2	1	20.0	1	25.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	9	100.0	5	100.0	4	100.0

34. If your bank has tightened or eased its credit standards or its terms for loans that your bank categorizes as subprime to individuals or households to purchase new or used autos over the past 12 months (as described in question 33), how important have been the following possible reasons for the change?

A. Possible reasons for tightening credit standards or terms on subprime loans for new or used autos:

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	1	50.0	0	--	1	50.0
Somewhat important	0	0.0	0	--	0	0.0
Very important	1	50.0	0	--	1	50.0
Total	2	100.0	0	--	2	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	50.0	0	--	1	50.0
Somewhat important	0	0.0	0	--	0	0.0
Very important	1	50.0	0	--	1	50.0
Total	2	100.0	0	--	2	100.0

c. Less aggressive competition from other banks or nonbank lenders

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

d. Reduced tolerance for risk

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

e. Decreased liquidity in the secondary market for these loans

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

f. Decreased or more uncertain collateral values

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

g. The average duration of auto loans has become less favorable

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

B. Possible reasons for easing credit standards or loan terms on subprime loans for new or used autos:

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	3	75.0	2	100.0	1	50.0
Somewhat important	0	0.0	0	0.0	0	0.0
Very important	1	25.0	0	0.0	1	50.0
Total	4	100.0	2	100.0	2	100.0

b. More favorable or less uncertain economic outlook

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	1	25.0	1	50.0	0	0.0
Somewhat important	2	50.0	1	50.0	1	50.0
Very important	1	25.0	0	0.0	1	50.0
Total	4	100.0	2	100.0	2	100.0

c. More aggressive competition from other banks or nonbank lenders

	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	2	100.0	0	0.0
Very important	2	50.0	0	0.0	2	100.0
Total	4	100.0	2	100.0	2	100.0

d. Increased tolerance for risk

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	1	25.0	1	50.0	0	0.0
Somewhat important	2	50.0	1	50.0	1	50.0
Very important	1	25.0	0	0.0	1	50.0
Total	4	100.0	2	100.0	2	100.0

e. Increased liquidity in the secondary market for these loans

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	3	75.0	2	100.0	1	50.0
Somewhat important	0	0.0	0	0.0	0	0.0
Very important	1	25.0	0	0.0	1	50.0
Total	4	100.0	2	100.0	2	100.0

f. Increased or less uncertain collateral values

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	1	25.0	1	50.0	0	0.0
Somewhat important	2	50.0	1	50.0	1	50.0
Very important	1	25.0	0	0.0	1	50.0
Total	4	100.0	2	100.0	2	100.0

g. The average duration of auto loans has become more favorable

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	3	75.0	2	100.0	1	50.0
Somewhat important	0	0.0	0	0.0	0	0.0
Very important	1	25.0	0	0.0	1	50.0
Total	4	100.0	2	100.0	2	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 June 30, 2013. The combined assets of the 37 large banks totaled $8.0 trillion, compared to $8.3 trillion for the entire panel of 73 banks, and $11.7 trillion for all domestically chartered, federally insured commercial banks.

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Senior Loan Officer Opinion Survey on Bank Lending PracticesOctober 2013

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 October 2013)

Senior Loan Officer Opinion Survey on Bank Lending Practices
October 2013

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