Senior Loan Officer Opinion Survey on Bank Lending Practices
April 2014

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 2014)

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	1	2.6	1	3.0
Remained basically unchanged	60	83.3	30	76.9	30	90.9
Eased somewhat	10	13.9	8	20.5	2	6.1
Eased considerably	0	0.0	0	0.0	0	0.0
Total	72	100.0	39	100.0	33	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	2.8	0	0.0	2	5.7
Remained basically unchanged	62	87.3	31	86.1	31	88.6
Eased somewhat	7	9.9	5	13.9	2	5.7
Eased considerably	0	0.0	0	0.0	0	0.0
Total	71	100.0	36	100.0	35	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	2	2.8	2	5.1	0	0.0
Remained basically unchanged	55	76.4	26	66.7	29	87.9
Eased somewhat	13	18.1	9	23.1	4	12.1
Eased considerably	2	2.8	2	5.1	0	0.0
Total	72	100.0	39	100.0	33	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	0	0.0	0	0.0	0	0.0
Remained basically unchanged	63	87.5	33	84.6	30	90.9
Eased somewhat	8	11.1	5	12.8	3	9.1
Eased considerably	1	1.4	1	2.6	0	0.0
Total	72	100.0	39	100.0	33	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	2	2.8	0	0.0	2	6.1
Remained basically unchanged	45	62.5	21	53.8	24	72.7
Eased somewhat	25	34.7	18	46.2	7	21.2
Eased considerably	0	0.0	0	0.0	0	0.0
Total	72	100.0	39	100.0	33	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	6.1
Remained basically unchanged	25	34.7	12	30.8	13	39.4
Eased somewhat	44	61.1	26	66.7	18	54.5
Eased considerably	1	1.4	1	2.6	0	0.0
Total	72	100.0	39	100.0	33	100.0

e. Premiums charged on riskier loans

	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	1	2.6	1	3.0
Remained basically unchanged	54	75.0	27	69.2	27	81.8
Eased somewhat	15	20.8	10	25.6	5	15.2
Eased considerably	1	1.4	1	2.6	0	0.0
Total	72	100.0	39	100.0	33	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	2	2.8	0	0.0	2	6.1
Remained basically unchanged	49	68.1	22	56.4	27	81.8
Eased somewhat	20	27.8	16	41.0	4	12.1
Eased considerably	1	1.4	1	2.6	0	0.0
Total	72	100.0	39	100.0	33	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	3.0
Remained basically unchanged	66	91.7	35	89.7	31	93.9
Eased somewhat	5	6.9	4	10.3	1	3.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	72	100.0	39	100.0	33	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	9.1
Remained basically unchanged	47	66.2	29	76.3	18	54.5
Eased somewhat	15	21.1	7	18.4	8	24.2
Eased considerably	6	8.5	2	5.3	4	12.1
Total	71	100.0	38	100.0	33	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	0	0.0	0	0.0	0	0.0
Remained basically unchanged	67	94.4	33	91.7	34	97.1
Eased somewhat	3	4.2	2	5.6	1	2.9
Eased considerably	1	1.4	1	2.8	0	0.0
Total	71	100.0	36	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	0	0.0	0	0.0	0	0.0
Remained basically unchanged	62	87.3	31	86.1	31	88.6
Eased somewhat	8	11.3	4	11.1	4	11.4
Eased considerably	1	1.4	1	2.8	0	0.0
Total	71	100.0	36	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	2	2.8	0	0.0	2	5.7
Remained basically unchanged	49	69.0	25	69.4	24	68.6
Eased somewhat	20	28.2	11	30.6	9	25.7
Eased considerably	0	0.0	0	0.0	0	0.0
Total	71	100.0	36	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	30	42.3	16	44.4	14	40.0
Eased somewhat	38	53.5	19	52.8	19	54.3
Eased considerably	1	1.4	1	2.8	0	0.0
Total	71	100.0	36	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	0	0.0	0	0.0	0	0.0
Tightened somewhat	2	2.8	1	2.8	1	2.9
Remained basically unchanged	59	83.1	28	77.8	31	88.6
Eased somewhat	10	14.1	7	19.4	3	8.6
Eased considerably	0	0.0	0	0.0	0	0.0
Total	71	100.0	36	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	2	2.8	0	0.0	2	5.7
Remained basically unchanged	56	78.9	27	75.0	29	82.9
Eased somewhat	13	18.3	9	25.0	4	11.4
Eased considerably	0	0.0	0	0.0	0	0.0
Total	71	100.0	36	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	66	93.0	33	91.7	33	94.3
Eased somewhat	4	5.6	3	8.3	1	2.9
Eased considerably	0	0.0	0	0.0	0	0.0
Total	71	100.0	36	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	4.3	1	2.9	2	5.7
Remained basically unchanged	46	65.7	24	68.6	22	62.9
Eased somewhat	15	21.4	7	20.0	8	22.9
Eased considerably	6	8.6	3	8.6	3	8.6
Total	70	100.0	35	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	8	100.0	4	100.0	4	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	8	100.0	4	100.0	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	6	75.0	4	100.0	2	50.0
Somewhat important	2	25.0	0	0.0	2	50.0
Very important	0	0.0	0	0.0	0	0.0
Total	8	100.0	4	100.0	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	6	75.0	4	100.0	2	50.0
Somewhat important	2	25.0	0	0.0	2	50.0
Very important	0	0.0	0	0.0	0	0.0
Total	8	100.0	4	100.0	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	8	100.0	4	100.0	4	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	8	100.0	4	100.0	4	100.0

e. Reduced tolerance for risk

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	3	37.5	2	50.0	1	25.0
Somewhat important	4	50.0	1	25.0	3	75.0
Very important	1	12.5	1	25.0	0	0.0
Total	8	100.0	4	100.0	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	8	100.0	4	100.0	4	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	8	100.0	4	100.0	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	8	100.0	4	100.0	4	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	8	100.0	4	100.0	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	6	75.0	4	100.0	2	50.0
Somewhat important	2	25.0	0	0.0	2	50.0
Very important	0	0.0	0	0.0	0	0.0
Total	8	100.0	4	100.0	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	43	89.6	24	88.9	19	90.5
Somewhat important	4	8.3	2	7.4	2	9.5
Very important	1	2.1	1	3.7	0	0.0
Total	48	100.0	27	100.0	21	100.0

b. More favorable or less uncertain economic outlook

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	30	61.2	16	57.1	14	66.7
Somewhat important	16	32.7	11	39.3	5	23.8
Very important	3	6.1	1	3.6	2	9.5
Total	49	100.0	28	100.0	21	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	39	79.6	23	82.1	16	76.2
Somewhat important	7	14.3	3	10.7	4	19.0
Very important	3	6.1	2	7.1	1	4.8
Total	49	100.0	28	100.0	21	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	16	32.7	7	25.0	9	42.9
Very important	33	67.3	21	75.0	12	57.1
Total	49	100.0	28	100.0	21	100.0

e. Increased tolerance for risk

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	34	69.4	19	67.9	15	71.4
Somewhat important	13	26.5	7	25.0	6	28.6
Very important	2	4.1	2	7.1	0	0.0
Total	49	100.0	28	100.0	21	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	39	79.6	22	78.6	17	81.0
Somewhat important	8	16.3	4	14.3	4	19.0
Very important	2	4.1	2	7.1	0	0.0
Total	49	100.0	28	100.0	21	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	42	87.5	24	88.9	18	85.7
Somewhat important	5	10.4	2	7.4	3	14.3
Very important	1	2.1	1	3.7	0	0.0
Total	48	100.0	27	100.0	21	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	44	91.7	26	92.9	18	90.0
Somewhat important	3	6.3	1	3.6	2	10.0
Very important	1	2.1	1	3.6	0	0.0
Total	48	100.0	28	100.0	20	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	2	2.8	2	5.1	0	0.0
Moderately stronger	15	20.8	9	23.1	6	18.2
About the same	48	66.7	24	61.5	24	72.7
Moderately weaker	7	9.7	4	10.3	3	9.1
Substantially weaker	0	0.0	0	0.0	0	0.0
Total	72	100.0	39	100.0	33	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	14	19.7	9	25.0	5	14.3
About the same	49	69.0	23	63.9	26	74.3
Moderately weaker	8	11.3	4	11.1	4	11.4
Substantially weaker	0	0.0	0	0.0	0	0.0
Total	71	100.0	36	100.0	35	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	6	28.6	5	38.5	1	12.5
Somewhat important	13	61.9	7	53.8	6	75.0
Very important	2	9.5	1	7.7	1	12.5
Total	21	100.0	13	100.0	8	100.0

b. Customer accounts receivable financing needs increased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	5	23.8	4	30.8	1	12.5
Somewhat important	14	66.7	8	61.5	6	75.0
Very important	2	9.5	1	7.7	1	12.5
Total	21	100.0	13	100.0	8	100.0

c. Customer investment in plant or equipment increased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	8	38.1	7	53.8	1	12.5
Somewhat important	13	61.9	6	46.2	7	87.5
Very important	0	0.0	0	0.0	0	0.0
Total	21	100.0	13	100.0	8	100.0

d. Customer internally generated funds decreased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	18	85.7	10	76.9	8	100.0
Somewhat important	3	14.3	3	23.1	0	0.0
Very important	0	0.0	0	0.0	0	0.0
Total	21	100.0	13	100.0	8	100.0

e. Customer merger or acquisition financing needs increased

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important	9	42.9	5	38.5	4	50.0
Somewhat important	7	33.3	4	30.8	3	37.5
Very important	5	23.8	4	30.8	1	12.5
Total	21	100.0	13	100.0	8	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	12	57.1	7	53.8	5	62.5
Somewhat important	7	33.3	4	30.8	3	37.5
Very important	2	9.5	2	15.4	0	0.0
Total	21	100.0	13	100.0	8	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	16	76.2	9	69.2	7	87.5
Somewhat important	5	23.8	4	30.8	1	12.5
Very important	0	0.0	0	0.0	0	0.0
Total	21	100.0	13	100.0	8	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	8	61.5	4	57.1	4	66.7
Somewhat important	5	38.5	3	42.9	2	33.3
Very important	0	0.0	0	0.0	0	0.0
Total	13	100.0	7	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	9	69.2	4	57.1	5	83.3
Somewhat important	4	30.8	3	42.9	1	16.7
Very important	0	0.0	0	0.0	0	0.0
Total	13	100.0	7	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	5	38.5	2	28.6	3	50.0
Somewhat important	7	53.8	4	57.1	3	50.0
Very important	1	7.7	1	14.3	0	0.0
Total	13	100.0	7	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	6	46.2	3	42.9	3	50.0
Somewhat important	6	46.2	3	42.9	3	50.0
Very important	1	7.7	1	14.3	0	0.0
Total	13	100.0	7	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	5	38.5	2	28.6	3	50.0
Somewhat important	6	46.2	4	57.1	2	33.3
Very important	2	15.4	1	14.3	1	16.7
Total	13	100.0	7	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	53.8	2	28.6	5	83.3
Somewhat important	5	38.5	4	57.1	1	16.7
Very important	1	7.7	1	14.3	0	0.0
Total	13	100.0	7	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	7	53.8	3	42.9	4	66.7
Somewhat important	5	38.5	3	42.9	2	33.3
Very important	1	7.7	1	14.3	0	0.0
Total	13	100.0	7	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	20	27.0	12	30.8	8	22.9
The number of inquiries has stayed about the same	47	63.5	24	61.5	23	65.7
The number of inquiries has decreased moderately	7	9.5	3	7.7	4	11.4
The number of inquiries has decreased substantially	0	0.0	0	0.0	0	0.0
Total	74	100.0	39	100.0	35	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	0	0.0	0	0.0	0	0.0
Tightened somewhat	3	4.2	0	0.0	3	8.6
Remained basically unchanged	63	87.5	31	83.8	32	91.4
Eased somewhat	6	8.3	6	16.2	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	72	100.0	37	100.0	35	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	0	0.0	0	0.0	0	0.0
Tightened somewhat	2	2.7	0	0.0	2	5.7
Remained basically unchanged	63	86.3	31	81.6	32	91.4
Eased somewhat	8	11.0	7	18.4	1	2.9
Eased considerably	0	0.0	0	0.0	0	0.0
Total	73	100.0	38	100.0	35	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	0	0.0	0	0.0	0	0.0
Tightened somewhat	5	6.9	3	8.1	2	5.7
Remained basically unchanged	58	80.6	27	73.0	31	88.6
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

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	35	50.0	15	42.9	20	57.1
About the same	32	45.7	18	51.4	14	40.0
Moderately weaker	3	4.3	2	5.7	1	2.9
Substantially weaker	0	0.0	0	0.0	0	0.0
Total	70	100.0	35	100.0	35	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	18	25.0	8	21.6	10	28.6
About the same	52	72.2	27	73.0	25	71.4
Moderately weaker	1	1.4	1	2.7	0	0.0
Substantially weaker	0	0.0	0	0.0	0	0.0
Total	72	100.0	37	100.0	35	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	1	2.7	0	0.0
Moderately stronger	20	27.8	8	21.6	12	34.3
About the same	48	66.7	25	67.6	23	65.7
Moderately weaker	3	4.2	3	8.1	0	0.0
Substantially weaker	0	0.0	0	0.0	0	0.0
Total	72	100.0	37	100.0	35	100.0

Question 13 focuses on changes over the past year in your bank's lending policies on CRE loans. If your bank's policies have not changed over the past year, please report them as unchanged even if they are either restrictive or accommodative relative to longer-term norms. If your bank's policies have tightened or eased over the past year, please report these changes regardless of how your bank's policies stand relative to longer-term norms.

13. Over the past year, how has your bank changed the following policies on CRE loans?

a. Maximum loan size

	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	4.1	0	0.0	3	8.8
Remained basically unchanged	50	68.5	24	61.5	26	76.5
Eased somewhat	19	26.0	14	35.9	5	14.7
Eased considerably	1	1.4	1	2.6	0	0.0
Total	73	100.0	39	100.0	34	100.0

b. Maximum loan 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	4	5.5	0	0.0	4	11.8
Remained basically unchanged	56	76.7	28	71.8	28	82.4
Eased somewhat	13	17.8	11	28.2	2	5.9
Eased considerably	0	0.0	0	0.0	0	0.0
Total	73	100.0	39	100.0	34	100.0

c. Spread 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	1	1.4	1	2.6	0	0.0
Tightened somewhat	3	4.1	1	2.6	2	5.9
Remained basically unchanged	35	47.9	14	35.9	21	61.8
Eased somewhat	32	43.8	21	53.8	11	32.4
Eased considerably	2	2.7	2	5.1	0	0.0
Total	73	100.0	39	100.0	34	100.0

d. Loan-to-value ratios

	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	0	0.0	1	2.9
Remained basically unchanged	68	93.2	36	92.3	32	94.1
Eased somewhat	3	4.1	3	7.7	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	73	100.0	39	100.0	34	100.0

e. Requirements for take-out 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	71	97.3	37	94.9	34	100.0
Eased somewhat	2	2.7	2	5.1	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	73	100.0	39	100.0	34	100.0

f. Debt-service coverage ratios

	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	6.8	1	2.6	4	11.4
Remained basically unchanged	65	87.8	36	92.3	29	82.9
Eased somewhat	4	5.4	2	5.1	2	5.7
Eased considerably	0	0.0	0	0.0	0	0.0
Total	74	100.0	39	100.0	35	100.0

g. Market areas served (reduced market areas=tightened; expanded market areas=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	1.4	0	0.0	1	2.9
Remained basically unchanged	54	74.0	29	74.4	25	73.5
Eased somewhat	17	23.3	9	23.1	8	23.5
Eased considerably	1	1.4	1	2.6	0	0.0
Total	73	100.0	39	100.0	34	100.0

Questions 14-15 ask about three categories of residential mortgage loans at your bank—prime residential mortgages, nontraditional residential mortgages, and subprime residential mortgages. Question 14 deals with changes in your bank's credit standards for loans in each of these categories over the past three months. Question 15 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.

14. 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	0	0.0	0	0.0	0	0.0
Tightened somewhat	10	14.3	5	14.3	5	14.3
Remained basically unchanged	51	72.9	22	62.9	29	82.9
Eased somewhat	9	12.9	8	22.9	1	2.9
Eased considerably	0	0.0	0	0.0	0	0.0
Total	70	100.0	35	100.0	35	100.0

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	8.1	1	5.3	2	11.1
Tightened somewhat	8	21.6	4	21.1	4	22.2
Remained basically unchanged	24	64.9	12	63.2	12	66.7
Eased somewhat	2	5.4	2	10.5	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	37	100.0	19	100.0	18	100.0

For this question, 32 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:

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Tightened considerably	2	28.6	0	0.0	2	40.0
Tightened somewhat	1	14.3	0	0.0	1	20.0
Remained basically unchanged	4	57.1	2	100.0	2	40.0
Eased somewhat	0	0.0	0	0.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	7	100.0	2	100.0	5	100.0

For this question, 62 respondents answered “My bank does not originate subprime residential mortgages.”

15. 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	12	17.1	4	11.4	8	22.9
About the same	28	40.0	15	42.9	13	37.1
Moderately weaker	27	38.6	15	42.9	12	34.3
Substantially weaker	3	4.3	1	2.9	2	5.7
Total	70	100.0	35	100.0	35	100.0

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	7	18.9	2	10.5	5	27.8
About the same	17	45.9	10	52.6	7	38.9
Moderately weaker	12	32.4	7	36.8	5	27.8
Substantially weaker	1	2.7	0	0.0	1	5.6
Total	37	100.0	19	100.0	18	100.0

For this question, 32 respondents answered “My bank does not originate nontraditional residential mortgages.”

C. Demand for mortgages that your bank categorizes as subprime 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	0	0.0	0	0.0	0	0.0
About the same	6	85.7	2	100.0	4	80.0
Moderately weaker	0	0.0	0	0.0	0	0.0
Substantially weaker	1	14.3	0	0.0	1	20.0
Total	7	100.0	2	100.0	5	100.0

For this question, 62 respondents answered “My bank does not originate subprime residential mortgages.”

Questions 16-17 ask about revolving home equity lines of credit at your bank. Question 16 deals with changes in your bank's credit standards over the past three months. Question 17 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.

16. 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	3.0
Tightened somewhat	4	5.7	3	8.1	1	3.0
Remained basically unchanged	59	84.3	33	89.2	26	78.8
Eased somewhat	6	8.6	1	2.7	5	15.2
Eased considerably	0	0.0	0	0.0	0	0.0
Total	70	100.0	37	100.0	33	100.0

17. 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	14	20.0	10	27.0	4	12.1
About the same	37	52.9	18	48.6	19	57.6
Moderately weaker	18	25.7	9	24.3	9	27.3
Substantially weaker	1	1.4	0	0.0	1	3.0
Total	70	100.0	37	100.0	33	100.0

Questions 18-27 ask about consumer lending at your bank. Question 18 deals with changes in your bank's willingness to make consumer loans over the past three months. Questions 19-24 deal with changes in credit standards and loan terms over the same period. Questions 25-27deal 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.

18. 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	0	0.0	0	0.0	0	0.0
Somewhat more willing	8	11.6	4	11.8	4	11.4
About unchanged	61	88.4	30	88.2	31	88.6
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	34	100.0	35	100.0

19. 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	1.9	0	0.0	1	4.2
Remained basically unchanged	47	87.0	26	86.7	21	87.5
Eased somewhat	6	11.1	4	13.3	2	8.3
Eased considerably	0	0.0	0	0.0	0	0.0
Total	54	100.0	30	100.0	24	100.0

20. 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	1	1.6	1	3.3	0	0.0
Remained basically unchanged	57	89.1	25	83.3	32	94.1
Eased somewhat	5	7.8	3	10.0	2	5.9
Eased considerably	1	1.6	1	3.3	0	0.0
Total	64	100.0	30	100.0	34	100.0

21. 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	70	100.0	35	100.0	35	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	70	100.0	35	100.0	35	100.0

22. 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	0	0.0	0	0.0	0	0.0
Remained basically unchanged	42	85.7	23	79.3	19	95.0
Eased somewhat	7	14.3	6	20.7	1	5.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	49	100.0	29	100.0	20	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	3	6.1	2	6.9	1	5.0
Remained basically unchanged	44	89.8	26	89.7	18	90.0
Eased somewhat	2	4.1	1	3.4	1	5.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	49	100.0	29	100.0	20	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	1	2.0	0	0.0	1	5.0
Remained basically unchanged	46	93.9	27	93.1	19	95.0
Eased somewhat	1	2.0	1	3.4	0	0.0
Eased considerably	1	2.0	1	3.4	0	0.0
Total	49	100.0	29	100.0	20	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	1	2.0	0	0.0	1	5.0
Remained basically unchanged	45	91.8	27	93.1	18	90.0
Eased somewhat	3	6.1	2	6.9	1	5.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	49	100.0	29	100.0	20	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	0	0.0	0	0.0	0	0.0
Tightened somewhat	2	4.1	1	3.4	1	5.0
Remained basically unchanged	46	93.9	27	93.1	19	95.0
Eased somewhat	1	2.0	1	3.4	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	49	100.0	29	100.0	20	100.0

23. 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	1	1.6	1	3.3	0	0.0
Remained basically unchanged	59	92.2	27	90.0	32	94.1
Eased somewhat	4	6.3	2	6.7	2	5.9
Eased considerably	0	0.0	0	0.0	0	0.0
Total	64	100.0	30	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	3	4.7	2	6.7	1	2.9
Remained basically unchanged	44	68.8	21	70.0	23	67.6
Eased somewhat	17	26.6	7	23.3	10	29.4
Eased considerably	0	0.0	0	0.0	0	0.0
Total	64	100.0	30	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	1	1.6	1	3.3	0	0.0
Remained basically unchanged	58	90.6	27	90.0	31	91.2
Eased somewhat	5	7.8	2	6.7	3	8.8
Eased considerably	0	0.0	0	0.0	0	0.0
Total	64	100.0	30	100.0	34	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	2	3.1	1	3.3	1	2.9
Remained basically unchanged	59	92.2	26	86.7	33	97.1
Eased somewhat	3	4.7	3	10.0	0	0.0
Eased considerably	0	0.0	0	0.0	0	0.0
Total	64	100.0	30	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	0	0.0	0	0.0	0	0.0
Tightened somewhat	1	1.6	0	0.0	1	2.9
Remained basically unchanged	63	98.4	30	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	64	100.0	30	100.0	34	100.0

24. 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	70	100.0	35	100.0	35	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	70	100.0	35	100.0	35	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	1.4	0	0.0	1	2.9
Remained basically unchanged	62	88.6	33	94.3	29	82.9
Eased somewhat	6	8.6	2	5.7	4	11.4
Eased considerably	1	1.4	0	0.0	1	2.9
Total	70	100.0	35	100.0	35	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	70	100.0	35	100.0	35	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	70	100.0	35	100.0	35	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	70	100.0	35	100.0	35	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	70	100.0	35	100.0	35	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	0	0.0	0	0.0	0	0.0
Tightened somewhat	1	1.4	0	0.0	1	2.9
Remained basically unchanged	69	98.6	35	100.0	34	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	70	100.0	35	100.0	35	100.0

25. 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	7	13.7	4	13.8	3	13.6
About the same	42	82.4	25	86.2	17	77.3
Moderately weaker	2	3.9	0	0.0	2	9.1
Substantially weaker	0	0.0	0	0.0	0	0.0
Total	51	100.0	29	100.0	22	100.0

26. 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	0	0.0	0	0.0	0	0.0
Moderately stronger	17	26.6	11	36.7	6	17.6
About the same	37	57.8	14	46.7	23	67.6
Moderately weaker	9	14.1	5	16.7	4	11.8
Substantially weaker	1	1.6	0	0.0	1	2.9
Total	64	100.0	30	100.0	34	100.0

27. 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	1	1.4	0	0.0	1	2.9
Moderately stronger	7	10.0	2	5.7	5	14.3
About the same	54	77.1	29	82.9	25	71.4
Moderately weaker	8	11.4	4	11.4	4	11.4
Substantially weaker	0	0.0	0	0.0	0	0.0
Total	70	100.0	35	100.0	35	100.0

According to the Federal Reserve's H.8 statistical release, "Assets and Liabilities of Commercial Banks in the United States," aggregate consumer credit card loans on banks' books grew about 6 percent annually, on average, in the decade prior to the financial crisis (1998 through 2007). After contracting for several years, credit card loans on banks' books grew modestly in 2013, a bit less than 1 percent, amid a moderate pace of expansion in economic activity. Questions 28-34 ask about factors that affected your bank's consumer credit card loan growth in 2013, and about the expected pace of consumer credit card loan growth in 2014 and after.

28. How did the total number of consumer credit card applications at your bank change over 2013? (Please consider the change in total application volume at your bank regardless of whether or not the applications were approved.)

A. Applications from borrowers my bank considers prime or super prime:

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Increased substantially	2	4.3	2	7.1	0	0.0
Increased somewhat	17	37.0	12	42.9	5	27.8
Were little changed	24	52.2	13	46.4	11	61.1
Decreased somewhat	3	6.5	1	3.6	2	11.1
Decreased substantially	0	0.0	0	0.0	0	0.0
Total	46	100.0	28	100.0	18	100.0

B. Applications from borrowers my bank considers nonprime:

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Increased substantially	0	0.0	0	0.0	0	0.0
Increased somewhat	7	16.3	5	19.2	2	11.8
Were little changed	35	81.4	21	80.8	14	82.4
Decreased somewhat	1	2.3	0	0.0	1	5.9
Decreased substantially	0	0.0	0	0.0	0	0.0
Total	43	100.0	26	100.0	17	100.0

29. Please indicate the extent to which each of the following was important in affecting consumer credit card loan growth at your bank over 2013.

a. Effects of the Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Very important in constraining growth	3	7.3	3	11.5	0	0.0
Somewhat important in constraining growth	18	43.9	12	46.2	6	40.0
Not important in affecting growth	20	48.8	11	42.3	9	60.0
Somewhat important in strengthening growth	0	0.0	0	0.0	0	0.0
Very important in strengthening growth	0	0.0	0	0.0	0	0.0
Total	41	100.0	26	100.0	15	100.0

For this question, 5 respondents answered “Not sure/unknown.”

b. My bank's level of underwriting standards relative to the longer-term norms

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Very important in constraining growth	1	2.3	0	0.0	1	5.6
Somewhat important in constraining growth	9	20.5	6	23.1	3	16.7
Not important in affecting growth	24	54.5	12	46.2	12	66.7
Somewhat important in strengthening growth	10	22.7	8	30.8	2	11.1
Very important in strengthening growth	0	0.0	0	0.0	0	0.0
Total	44	100.0	26	100.0	18	100.0

For this question, 2 respondents answered “Not sure/unknown.”

c. My bank's level of loan or credit line terms relative to longer-term norms (higher- or lower-than-average spreads, line sizes, etc.)

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Very important in constraining growth	0	0.0	0	0.0	0	0.0
Somewhat important in constraining growth	5	11.4	3	11.5	2	11.1
Not important in affecting growth	30	68.2	14	53.8	16	88.9
Somewhat important in strengthening growth	9	20.5	9	34.6	0	0.0
Very important in strengthening growth	0	0.0	0	0.0	0	0.0
Total	44	100.0	26	100.0	18	100.0

For this question, 2 respondents answered “Not sure/unknown.”

d. Consumers' use of debit cards

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Very important in constraining growth	0	0.0	0	0.0	0	0.0
Somewhat important in constraining growth	8	21.6	2	9.5	6	37.5
Not important in affecting growth	27	73.0	18	85.7	9	56.3
Somewhat important in strengthening growth	2	5.4	1	4.8	1	6.3
Very important in strengthening growth	0	0.0	0	0.0	0	0.0
Total	37	100.0	21	100.0	16	100.0

For this question, 9 respondents answered “Not sure/unknown.”

e. Consumers' use of other (non-debit-card) payment mechanisms

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Very important in constraining growth	0	0.0	0	0.0	0	0.0
Somewhat important in constraining growth	5	13.9	2	9.5	3	20.0
Not important in affecting growth	29	80.6	18	85.7	11	73.3
Somewhat important in strengthening growth	2	5.6	1	4.8	1	6.7
Very important in strengthening growth	0	0.0	0	0.0	0	0.0
Total	36	100.0	21	100.0	15	100.0

For this question, 10 respondents answered “Not sure/unknown.”

f. Consumers' tendency for transactional use (versus revolving use) of credit cards

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Very important in constraining growth	2	4.8	2	7.7	0	0.0
Somewhat important in constraining growth	11	26.2	7	26.9	4	25.0
Not important in affecting growth	21	50.0	11	42.3	10	62.5
Somewhat important in strengthening growth	8	19.0	6	23.1	2	12.5
Very important in strengthening growth	0	0.0	0	0.0	0	0.0
Total	42	100.0	26	100.0	16	100.0

For this question, 4 respondents answered “Not sure/unknown.”

g. Effect of consumers' self-perceived creditworthiness on application volumes

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Very important in constraining growth	0	0.0	0	0.0	0	0.0
Somewhat important in constraining growth	3	9.7	3	16.7	0	0.0
Not important in affecting growth	24	77.4	13	72.2	11	84.6
Somewhat important in strengthening growth	4	12.9	2	11.1	2	15.4
Very important in strengthening growth	0	0.0	0	0.0	0	0.0
Total	31	100.0	18	100.0	13	100.0

For this question, 15 respondents answered “Not sure/unknown.”

h. Consumers' expectations for their household's income growth

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Very important in constraining growth	1	2.8	1	4.8	0	0.0
Somewhat important in constraining growth	4	11.1	3	14.3	1	6.7
Not important in affecting growth	24	66.7	13	61.9	11	73.3
Somewhat important in strengthening growth	5	13.9	3	14.3	2	13.3
Very important in strengthening growth	2	5.6	1	4.8	1	6.7
Total	36	100.0	21	100.0	15	100.0

For this question, 10 respondents answered “Not sure/unknown.”

i. Consumers' preferences for debt levels

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Very important in constraining growth	3	8.3	3	13.6	0	0.0
Somewhat important in constraining growth	15	41.7	10	45.5	5	35.7
Not important in affecting growth	14	38.9	7	31.8	7	50.0
Somewhat important in strengthening growth	4	11.1	2	9.1	2	14.3
Very important in strengthening growth	0	0.0	0	0.0	0	0.0
Total	36	100.0	22	100.0	14	100.0

For this question, 10 respondents answered “Not sure/unknown.”

30. If you indicated that the effects of the CARD Act of 2009 were an important factor constraining consumer credit card loan growth at your bank over 2013 (answers 1 or 2 in question Effects of the Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009), please indicate how important each of the following provisions of the CARD Act was in constraining consumer credit card loan growth at your bank.

a. The prohibition on raising interest rates on existing balances

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important in constraining growth	9	45.0	6	42.9	3	50.0
Somewhat important in constraining growth	6	30.0	4	28.6	2	33.3
Very important in constraining growth	5	25.0	4	28.6	1	16.7
Total	20	100.0	14	100.0	6	100.0

b. The restrictions on credit card fees, including those on the over-the-limit fee

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important in constraining growth	7	35.0	5	35.7	2	33.3
Somewhat important in constraining growth	10	50.0	7	50.0	3	50.0
Very important in constraining growth	3	15.0	2	14.3	1	16.7
Total	20	100.0	14	100.0	6	100.0

c. The requirement for card payments to be applied first to the debt with the highest interest rate

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important in constraining growth	8	40.0	5	35.7	3	50.0
Somewhat important in constraining growth	10	50.0	8	57.1	2	33.3
Very important in constraining growth	2	10.0	1	7.1	1	16.7
Total	20	100.0	14	100.0	6	100.0

d. The requirement for borrowers under the age of 21 to have adult cosigners

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important in constraining growth	8	40.0	6	42.9	2	33.3
Somewhat important in constraining growth	10	50.0	7	50.0	3	50.0
Very important in constraining growth	2	10.0	1	7.1	1	16.7
Total	20	100.0	14	100.0	6	100.0

e. The required disclosures to consumers

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Not important in constraining growth	15	71.4	11	73.3	4	66.7
Somewhat important in constraining growth	6	28.6	4	26.7	2	33.3
Very important in constraining growth	0	0.0	0	0.0	0	0.0
Total	21	100.0	15	100.0	6	100.0

For questions 31-33, please answer assuming that economic activity progresses in line with consensus forecasts.

31. How does your bank expect outstanding consumer credit card loans on its books will change over 2014 compared to 2013?

A. For borrowers my bank considers prime or super prime:

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Substantially higher growth (or lower contraction) in 2014 than in 2013	3	6.5	3	10.7	0	0.0
Somewhat higher growth (or lower contraction) in 2014 than in 2013	24	52.2	18	64.3	6	33.3
About the same growth (or contraction) in 2014 as in 2013	16	34.8	6	21.4	10	55.6
Somewhat lower growth (or higher contraction) in 2014 than in 2013	3	6.5	1	3.6	2	11.1
Substantially lower growth (or higher contraction) in 2014 than in 2013	0	0.0	0	0.0	0	0.0
Total	46	100.0	28	100.0	18	100.0

B. For borrowers my bank considers nonprime:

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Substantially higher growth (or lower contraction) in 2014 than in 2013	0	0.0	0	0.0	0	0.0
Somewhat higher growth (or lower contraction) in 2014 than in 2013	9	23.7	6	26.1	3	20.0
About the same growth (or contraction) in 2014 as in 2013	26	68.4	17	73.9	9	60.0
Somewhat lower growth (or higher contraction) in 2014 than in 2013	2	5.3	0	0.0	2	13.3
Substantially lower growth (or higher contraction) in 2014 than in 2013	1	2.6	0	0.0	1	6.7
Total	38	100.0	23	100.0	15	100.0

32. Over the next few years, do you expect your bank's annual consumer credit card loan growth to stabilize at a certain rate? If so, when do you expect the growth of consumer credit card loans to stabilize?

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
Credit card loan growth at my bank has already stabilized	13	28.3	5	17.9	8	44.4
I expect the growth rate to stabilize by the end of 2014	2	4.3	2	7.1	0	0.0
I expect the growth rate to stabilize during 2015	7	15.2	4	14.3	3	16.7
I expect the growth rate to stabilize during 2016	11	23.9	8	28.6	3	16.7
I do not expect my bank's credit card loan growth to stabilize at a certain rate over the next few years	13	28.3	9	32.1	4	22.2
Total	46	100.0	28	100.0	18	100.0

33. If you expect your bank's annual consumer credit card loan growth to stabilize at a certain rate over the next few years (answers 2 through 4 in question 32), do you expect the rate at which it will stabilize to be higher or lower than the rate of growth your bank recorded on average in the years prior to the financial crisis?

	All Respondents		Large Banks		Other Banks
	Banks	Percent	Banks	Percent	Banks	Percent
I expect the growth rate to stabilize at a substantually higher rate	0	0.0	0	0.0	0	0.0
I expect the growth rate to stabilize at a somewhat higher rate	7	31.8	6	40.0	1	14.3
I expect the growth rate to stabilize at about the same rate	8	36.4	5	33.3	3	42.9
I expect the growth rate to stabilize at a somewhat lower rate	6	27.3	3	20.0	3	42.9
I expect the growth rate to stabilize at a substantially lower rate	1	4.5	1	6.7	0	0.0
Total	22	100.0	15	100.0	7	100.0

For this question, 2 respondents answered “I am uncertain whether it will stabilize at a lower, equal, or higher rate.”

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, 2013. The combined assets of the 39 large banks totaled $8.3 trillion, compared to $8.5 trillion for the entire panel of 74 banks, and $ 12.1 trillion for all domestically chartered, federally insured commercial banks.

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Senior Loan Officer Opinion Survey on Bank Lending PracticesApril 2014

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 2014)

Senior Loan Officer Opinion Survey on Bank Lending Practices
April 2014

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