Senior Credit Officer Opinion Survey on Dealer Financing Terms
Senior Credit Officer Opinion Survey, September 2024 - Accessible Version
Exhibit 1: Management of Concentrated Credit Exposures and Indicators of Supply of Credit
Net percentage
| Index | Panel 1: Respondents increasing resources and attention to management of concentrated exposure to: Dealers | Panel 2: Respondents increasing resources and attention to management of concentrated exposure to: Central counterparties | Panel 3: Respondents tightening price terms to: Hedge funds | Panel 3: Respondents tightening price terms to: Mutual funds+ | Panel 3: Respondents tightening price terms to: Trading REITs+ | Panel 4: Respondents tightening price terms to: Insurance companies | Panel 4: Respondents tightening price terms to: Separately managed accounts+ | Panel 4: Respondents tightening price terms to: Nonfinancial corporations | Panel 5: Respondents tightening nonprice terms to: Hedge funds | Panel 5: Respondents tightening nonprice terms to: Mutual funds+ | Panel 5: Respondents tightening nonprice terms to: Trading REITs+ | Panel 6: Respondents tightening nonprice terms to: Insurance companies | Panel 6: Respondents tightening nonprice terms to: Separately managed accounts+ | Panel 6: Respondents tightening nonprice terms to: Nonfinancial corporations |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 06/30/2010 | 55 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| 09/30/2010 | 10 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| 12/31/2010 | 15 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| 03/31/2011 | 25 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| 06/30/2011 | 25 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| 09/30/2011 | 76.19 | 57.14 | 4.76 | NA | 16.67 | NA | NA | NA | -23.81 | NA | 5.26 | NA | NA | NA |
| 12/31/2011 | 90 | 65 | 30 | 0 | 23.53 | 5.26 | 5 | 35 | 25 | 0 | 16.67 | -10.53 | -5.26 | 20 |
| 03/31/2012 | 30 | 55 | -10.0 | -10.0 | -5.88 | 5 | -10.53 | -10.0 | -10.0 | -5.0 | -11.11 | 5 | -5.0 | 0 |
| 06/30/2012 | 45.45 | 68.18 | 4.55 | -9.09 | 17.65 | 0 | -14.29 | -4.55 | -4.55 | -9.09 | -5.56 | -4.76 | -4.76 | 4.55 |
| 09/30/2012 | 36.36 | 59.09 | 0 | -4.55 | 0 | -9.52 | -4.55 | -13.64 | 0 | -13.64 | -22.22 | -14.29 | -9.09 | -9.09 |
| 12/31/2012 | 22.73 | 63.64 | 4.55 | 4.55 | 17.65 | 4.76 | -4.76 | 0 | 0 | 4.55 | -5.56 | -9.52 | -4.76 | -9.09 |
| 03/31/2013 | 9.09 | 59.09 | -9.09 | -4.55 | 5.88 | -4.76 | -5.0 | -18.18 | -9.09 | 0 | 0 | -4.76 | -5.0 | -9.09 |
| 06/30/2013 | 4.55 | 63.64 | -9.09 | -4.55 | -11.76 | 0 | -5.0 | 9.09 | -9.09 | -9.09 | -11.11 | -4.76 | -4.76 | 0 |
| 09/30/2013 | 22.73 | 54.55 | 13.64 | 9.09 | 11.76 | 4.55 | 4.76 | 0 | 4.55 | -4.55 | 22.22 | -4.55 | 0 | -13.64 |
| 12/31/2013 | 18.18 | 45.45 | 4.55 | -4.55 | 0 | 0 | 0 | -9.09 | -4.55 | -4.55 | 22.22 | 0 | -5.0 | -13.64 |
| 03/31/2014 | 13.64 | 31.82 | 0 | -4.55 | 5.88 | 0 | -4.76 | 0 | -9.09 | 0 | 16.67 | -4.55 | -4.76 | -9.09 |
| 06/30/2014 | 4.55 | 18.18 | 4.55 | 0 | -11.76 | 0 | -4.76 | -9.09 | -9.09 | 0 | -5.56 | -13.64 | 0 | -13.64 |
| 09/30/2014 | 13.64 | 22.73 | -4.55 | 4.55 | 0 | 4.76 | 5 | -4.55 | -18.18 | 0 | 0 | -9.09 | 0 | -9.09 |
| 12/31/2014 | 4.55 | 18.18 | 18.18 | 0 | 11.76 | 4.76 | 0 | 0 | -4.55 | 0 | -5.56 | 4.55 | 0 | 0 |
| 03/31/2015 | 19.05 | 33.33 | 4.76 | 0 | 0 | 10 | -5.0 | 4.76 | 0 | 4.76 | 0 | 0 | 5 | 9.52 |
| 06/30/2015 | 14.29 | 38.1 | 19.05 | 0 | 5.88 | 0 | 0 | 9.52 | 0 | 0 | 0 | -4.76 | 0 | 4.76 |
| 09/30/2015 | 10 | 30 | 15 | 10 | 26.67 | 0 | 11.11 | 10 | 0 | 5 | 6.25 | -10.0 | -5.56 | 5 |
| 12/31/2015 | 9.52 | 33.33 | 23.81 | 14.29 | 11.76 | 5 | 10 | 19.05 | 4.76 | 0 | 0 | -4.76 | 0 | 9.52 |
| 03/31/2016 | 19.05 | 14.29 | 23.81 | 14.29 | 16.67 | 5 | 17.65 | 19.05 | 4.76 | 4.76 | 11.11 | 0 | 5.56 | 9.52 |
| 06/30/2016 | 10 | 20 | 0 | -5.0 | 0 | 0 | -5.88 | -5.0 | 5 | 5 | 11.76 | 0 | 0 | 5 |
| 09/30/2016 | 17.39 | 4.35 | -4.35 | 0 | 0 | 0 | 0 | -4.35 | -4.35 | 4.35 | 5.26 | -4.35 | 10 | 0 |
| 12/31/2016 | 0 | 8.7 | 4.35 | 0 | 5.26 | 0 | 0 | 8.7 | -8.7 | 0 | 5.26 | 0 | 0 | -4.35 |
| 03/31/2017 | 4.55 | 13.64 | -4.55 | 4.55 | -5.56 | 5 | -5.26 | 9.09 | 0 | 0 | 0 | 0 | 0 | -4.55 |
| 06/30/2017 | 0 | 8.7 | -21.74 | -4.35 | -5.26 | -4.55 | -4.76 | -4.35 | -17.39 | -4.35 | 0 | 4.55 | -4.76 | -4.35 |
| 09/30/2017 | 8.7 | 8.7 | -17.39 | 4.35 | -21.05 | 4.76 | 0 | 0 | -8.7 | 0 | 0 | 9.52 | 4.55 | -4.35 |
| 12/31/2017 | 0 | 17.39 | -21.74 | -4.35 | -25.0 | -9.52 | -9.52 | -4.35 | -21.74 | 0 | -15.0 | -14.29 | -4.76 | 0 |
| 03/31/2018 | 0 | 13.04 | -13.04 | 0 | -10.0 | -4.55 | -4.76 | 4.35 | -21.74 | -8.7 | -10.0 | -13.64 | -4.76 | 0 |
| 06/30/2018 | 0 | 13.04 | -13.04 | -4.35 | -30.0 | 0 | -4.76 | 0 | -17.39 | -4.35 | -15.0 | -10.0 | 0 | -8.7 |
| 09/30/2018 | -4.35 | 4.35 | -4.35 | -8.7 | -10.53 | 0 | -4.55 | 0 | -4.35 | 0 | -5.26 | -4.76 | 0 | -4.35 |
| 12/31/2018 | -8.7 | 30.43 | -4.35 | 0 | 0 | 0 | -4.76 | 13.04 | -4.35 | 0 | -15.0 | -4.76 | 0 | 0 |
| 03/31/2019 | -4.35 | 8.7 | -8.7 | -4.35 | -14.29 | 0 | -4.76 | 4.35 | -8.7 | 0 | -4.76 | 0 | 0 | -8.7 |
| 06/30/2019 | 4.35 | 17.39 | -4.35 | -4.35 | -19.05 | 0 | -4.76 | -8.7 | -8.7 | 0 | -9.52 | 0 | 0 | 0 |
| 09/30/2019 | 4.55 | 13.64 | -22.73 | -4.55 | -20.0 | 0 | -5.0 | -13.64 | 0 | -4.55 | -5.0 | -4.76 | 0 | -4.55 |
| 12/31/2019 | 4.55 | 22.73 | 4.55 | 0 | 0 | 4.76 | 5 | 0 | 4.55 | 0 | -10.0 | 0 | 5 | -9.09 |
| 03/31/2020 | 13.04 | 21.74 | -4.35 | -13.04 | -13.64 | -4.55 | -4.35 | -13.04 | 4.35 | -4.35 | -4.55 | -4.55 | 0 | -4.35 |
| 06/30/2020 | 65.22 | 56.52 | 78.26 | 34.78 | 80 | 38.1 | 30 | 39.13 | 78.26 | 43.48 | 85 | 38.1 | 30 | 39.13 |
| 09/30/2020 | 34.78 | 34.78 | -8.7 | -17.39 | 21.05 | -5.26 | -18.18 | -8.7 | 13.04 | -8.7 | 42.11 | 0 | -18.18 | 13.04 |
| 12/31/2020 | 13.04 | 17.39 | -4.35 | -13.04 | -10.53 | -4.55 | -14.29 | -13.04 | -4.35 | -4.35 | 5.26 | -4.55 | -14.29 | -13.04 |
| 03/31/2021 | 26.09 | 13.04 | -8.7 | -8.7 | -15.0 | -4.76 | -9.09 | -8.7 | -4.35 | 0 | -20.0 | 0 | 0 | -13.04 |
| 06/30/2021 | 13.04 | 17.39 | -8.7 | -17.39 | -26.32 | -19.05 | -14.29 | -4.35 | 4.35 | 0 | -21.05 | -4.76 | -4.76 | 0 |
| 09/30/2021 | 4.35 | 4.35 | -4.35 | -4.35 | 0 | 0 | -4.76 | 0 | 17.39 | 0 | -15.79 | 0 | 0 | 4.35 |
| 12/31/2021 | 13.04 | 13.04 | -8.7 | 0 | -10.53 | -5.0 | -5.0 | 4.35 | 13.04 | 4.35 | 0 | 5 | 5 | 4.35 |
| 03/31/2022 | 4.35 | 17.39 | 4.35 | 4.35 | 10.53 | 9.52 | 4.76 | 8.7 | 8.7 | 8.7 | 0 | 9.52 | 9.52 | 8.7 |
| 06/30/2022 | 8.7 | 13.04 | 21.74 | 8.7 | 15.79 | 0 | 14.29 | 17.39 | 17.39 | 4.35 | 5.56 | 4.55 | 9.52 | 17.39 |
| 09/30/2022 | 4.55 | 4.55 | 18.18 | 9.09 | 26.32 | 5 | 10 | 22.73 | 13.64 | 0 | 21.05 | 5 | 5 | 22.73 |
| 12/31/2022 | 15 | 10 | 30 | 25 | 44.44 | 5.26 | 22.22 | 35 | 35 | 15 | 27.78 | 0 | 11.11 | 20 |
| 03/31/2023 | 0 | 10 | 5 | 5 | 18.75 | 0 | 5.56 | 15 | 5 | 5 | 12.5 | 0 | 5.56 | 20 |
| 06/30/2023 | 42.86 | 19.05 | 14.29 | 23.81 | 29.41 | 4.76 | 15.79 | 23.81 | 23.81 | 14.29 | 11.76 | 0 | 15.79 | 14.29 |
| 09/30/2023 | 33.33 | 9.52 | 0 | 4.76 | 5.88 | -5.0 | 0 | 14.29 | 4.76 | 4.76 | 11.76 | 0 | 5.26 | 9.52 |
| 12/31/2023 | 14.29 | 4.76 | 0 | 0 | 0 | 0 | 0 | 14.29 | 4.76 | 14.29 | 12.5 | 5 | 10.53 | 14.29 |
| 03/31/2024 | 18.18 | 9.09 | 4.55 | 0 | 5.56 | 0 | 0 | 4.55 | 4.55 | 9.09 | 11.11 | 10 | 5.26 | 9.09 |
| 06/30/2024 | 13.04 | 13.04 | 0 | -4.35 | -5.26 | 0 | -5.26 | 0 | 8.7 | 8.7 | 5.26 | 4.55 | 15.79 | 0 |
| 09/30/2024 | 0 | 4.35 | 8.7 | 4.35 | 21.05 | 9.09 | 0 | -4.35 | -4.35 | 8.7 | 0 | -4.55 | 0 | 0 |
Note: REIT is real estate investment trust.
+ The question was added to the survey in September 2011. Return to text
Source: Federal Reserve Board, Senior Credit Officer Opinion Survey on Dealer Financing Terms.
Exhibit 2: Use of Financial Leverage
Net percentage
| Index | Panel 1: Respondents reporting increased use of leverage by: Hedge Funds | Panel 2: Respondents reporting increased use of leverage by: Trading REITs | Panel 3: Respondents reporting increased use of leverage by: Insurance Companies | Panel 4: Respondents reporting increased use of leverage by: Separately Managed Accounts | Panel 5: Respondents reporting increased use of leverage by: Mutual Funds | Panel 5: Respondents reporting increased use of leverage by: Exchange-Traded Funds | Panel 6: Respondents reporting increased use of leverage by: Pension Funds | Panel 6: Respondents reporting increased use of leverage by: Endowments |
|---|---|---|---|---|---|---|---|---|
| 06/30/2010 | NA | NA | NA | NA | NA | NA | NA | NA |
| 09/30/2010 | NA | NA | NA | NA | NA | NA | NA | NA |
| 12/31/2010 | NA | NA | NA | NA | NA | NA | NA | NA |
| 03/31/2011 | NA | NA | NA | NA | NA | NA | NA | NA |
| 06/30/2011 | NA | NA | NA | NA | NA | NA | NA | NA |
| 09/30/2011 | -42.86 | NA | NA | NA | NA | NA | NA | NA |
| 12/31/2011 | -55.0 | 0 | 0 | -5.0 | 0 | 0 | 5.26 | 0 |
| 03/31/2012 | -20.0 | 15 | 5 | 5 | 5 | 5.56 | 5.26 | 5.26 |
| 06/30/2012 | -22.73 | 4.55 | 4.76 | -9.52 | 0 | 0 | 0 | 0 |
| 09/30/2012 | -4.55 | 5.88 | -4.76 | 0 | 0 | 0 | 0 | 0 |
| 12/31/2012 | 9.09 | 16.67 | 0 | 0 | 4.76 | 0 | 4.76 | 0 |
| 03/31/2013 | 27.27 | 5.56 | 4.76 | 0 | 0 | 0 | 5 | 0 |
| 06/30/2013 | 22.73 | 0 | 0 | 9.52 | 4.76 | 0 | 0 | 0 |
| 09/30/2013 | -18.18 | -33.33 | -4.55 | 0 | 4.76 | 0 | 10 | 0 |
| 12/31/2013 | -9.09 | -33.33 | 0 | 0 | 5 | 5.56 | 0 | 0 |
| 03/31/2014 | 0 | -38.89 | 0 | 4.76 | 5 | 0 | 0 | 0 |
| 06/30/2014 | 4.55 | -5.56 | -4.55 | 0 | 5 | 0 | 0 | 0 |
| 09/30/2014 | 22.73 | 11.76 | -4.55 | 0 | 0 | 0 | 0 | 0 |
| 12/31/2014 | 0 | 0 | 0 | 0 | 4.76 | 0 | 0 | 0 |
| 03/31/2015 | 14.29 | -5.88 | 0 | 0 | 10 | 0 | 0 | 0 |
| 06/30/2015 | 0 | 11.76 | 0 | 0 | 5 | 0 | 0 | 0 |
| 09/30/2015 | -5.0 | 0 | 5 | -5.56 | 5 | 0 | 0 | 0 |
| 12/31/2015 | 9.52 | 5.88 | 4.76 | 0 | 0 | 0 | 0 | 0 |
| 03/31/2016 | -4.76 | 5.88 | 5 | -5.56 | 0 | 0 | 0 | 0 |
| 06/30/2016 | -15.0 | 6.25 | 0 | 0 | 0 | 0 | 0 | 0 |
| 09/30/2016 | 4.35 | 5.26 | 0 | 0 | 4.55 | 0 | 0 | 0 |
| 12/31/2016 | 17.39 | -5.26 | 0 | 0 | 4.76 | 0 | 0 | 0 |
| 03/31/2017 | 0 | 0 | 0 | -5.26 | 0 | 0 | 0 | 0 |
| 06/30/2017 | 4.35 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 09/30/2017 | 17.39 | 5.26 | 0 | 4.55 | 4.55 | 0 | 0 | 0 |
| 12/31/2017 | 0 | -15.0 | 0 | 0 | 4.76 | 4.76 | 5 | 5.26 |
| 03/31/2018 | 0 | 5 | 0 | 5 | 0 | 0 | 0 | 0 |
| 06/30/2018 | 0 | 5 | 0 | -4.76 | 5 | 5.26 | 0 | 0 |
| 09/30/2018 | 4.35 | 5.26 | 0 | 0 | 0 | 0 | 0 | 0 |
| 12/31/2018 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 03/31/2019 | -8.7 | -4.76 | 0 | 0 | 0 | 0 | 0 | 0 |
| 06/30/2019 | 4.35 | 9.52 | 4.55 | 4.76 | 0 | 0 | 0 | 0 |
| 09/30/2019 | -4.55 | 10 | 5 | 0 | 0 | 0 | 0 | 0 |
| 12/31/2019 | 4.55 | 10 | 0 | 0 | 0 | 0 | 0 | 0 |
| 03/31/2020 | 0 | 4.55 | 0 | 0 | 0 | 4.76 | 0 | 0 |
| 06/30/2020 | -65.22 | -75.0 | -4.76 | -10.0 | -15.0 | -20.0 | -10.0 | -10.0 |
| 09/30/2020 | -4.35 | -42.11 | 5.56 | -9.09 | -11.11 | -11.11 | -10.53 | -10.53 |
| 12/31/2020 | -17.39 | -10.53 | 0 | 4.76 | 0 | 0 | 0 | 0 |
| 03/31/2021 | -4.35 | 15 | 0 | 4.55 | 0 | 0 | 0 | 0 |
| 06/30/2021 | -8.7 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 09/30/2021 | -21.74 | 5.26 | 0 | -4.76 | 0 | 0 | 0 | 0 |
| 12/31/2021 | -13.04 | 0 | 10 | 0 | 0 | 0 | 0 | 0 |
| 03/31/2022 | -8.7 | 0 | 0 | -4.76 | 0 | 0 | 0 | 0 |
| 06/30/2022 | -26.09 | 0 | 0 | -4.76 | 0 | 0 | 0 | 0 |
| 09/30/2022 | -18.18 | -5.26 | 5 | -5.0 | 0 | 0 | -5.0 | -5.0 |
| 12/31/2022 | -25.0 | 5.56 | 0 | -5.56 | -10.53 | -5.56 | -11.11 | -5.56 |
| 03/31/2023 | 5 | -6.25 | 5.26 | 0 | 0 | 0 | 0 | 0 |
| 06/30/2023 | -14.29 | -5.88 | 0 | 0 | -5.56 | 0 | 0 | 0 |
| 09/30/2023 | 0 | 0 | 5 | 0 | 0 | 0 | 0 | 0 |
| 12/31/2023 | 4.76 | 0 | 5 | 0 | -5.26 | 0 | 0 | 0 |
| 03/31/2024 | 0 | 11.11 | 10 | 0 | 0 | 0 | 0 | 0 |
| 06/30/2024 | 8.7 | 0 | 4.55 | 0 | 0 | 4.55 | 0 | 0 |
| 09/30/2024 | 0 | 26.32 | 9.09 | 0 | 0 | -4.35 | 0 | 0 |
Note: REIT is real estate investment trust.
Source: Federal Reserve Board, Senior Credit Officer Opinion Survey on Dealer Financing Terms.
Exhibit 3: Measures of Demand for Funding and Market Functioning
Net percentage
| Index | Panel 1: Respondents reporting increased demand for funding of: High-grade corporate bonds | Panel 1: Respondents reporting increased demand for funding of: High-yield corporate bonds+ | Panel 2: Respondents reporting increased demand for funding of: Equities | Panel 2: Respondents reporting increased demand for funding of: CMBS+ | Panel 3: Respondents reporting increased demand for funding of: Agency RMBS | Panel 3: Respondents reporting increased demand for funding of: Non-agency RMBS+ | Panel 4: Respondents reporting increased demand for funding of: Consumer ABS+ | Panel 5: Respondents reporting an improvement in liquidity and functioning in the underlying markets for: High-grade corporate bonds | Panel 5: Respondents reporting an improvement in liquidity and functioning in the underlying markets for: High-yield corporate bonds+ | Panel 5: Respondents reporting an improvement in liquidity and functioning in the underlying markets for: CMBS+ | Panel 6: Respondents reporting an improvement in liquidity and functioning in the underlying markets for: Agency RMBS | Panel 6: Respondents reporting an improvement in liquidity and functioning in the underlying markets for: Non-agency RMBS+ | Panel 6: Respondents reporting an improvement in liquidity and functioning in the underlying markets for: Consumer ABS+ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 06/30/2010 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| 09/30/2010 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| 12/31/2010 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| 03/31/2011 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| 06/30/2011 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| 09/30/2011 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| 12/31/2011 | 0 | 7.14 | 0 | 0 | -5.56 | -13.33 | 16.67 | -33.33 | -50.0 | -45.45 | -38.89 | -50.0 | -50.0 |
| 03/31/2012 | 12.5 | 20 | 15 | 15.38 | 11.76 | 13.33 | 18.18 | 25 | 18.75 | 30.77 | 17.65 | 21.43 | 27.27 |
| 06/30/2012 | 16.67 | 18.75 | 4.55 | -7.69 | 45 | 18.75 | 0 | 0 | -6.25 | -7.69 | -5.0 | 0 | 8.33 |
| 09/30/2012 | 0 | 11.11 | 4.55 | 14.29 | 25 | 37.5 | -8.33 | 10.53 | 5.88 | 35.71 | 10 | 37.5 | 8.33 |
| 12/31/2012 | 11.11 | 0 | 4.55 | 15.38 | 28.57 | 13.33 | 0 | 11.11 | 5.56 | 30.77 | -9.52 | 26.67 | 0 |
| 03/31/2013 | 11.76 | 25 | 13.64 | 38.46 | 40 | 64.29 | 0 | 11.76 | 17.65 | 23.08 | 0 | 21.43 | 20 |
| 06/30/2013 | 21.05 | 33.33 | 9.09 | 28.57 | 10 | 40 | 14.29 | 21.05 | 5.56 | 14.29 | -10.0 | 20 | 7.14 |
| 09/30/2013 | 0 | 6.67 | 0 | 0 | -26.32 | 13.33 | 0 | -22.22 | 6.25 | -30.77 | -26.32 | -40.0 | -30.77 |
| 12/31/2013 | 5.88 | 6.25 | -4.76 | 30.77 | 5 | 33.33 | 7.69 | 5.88 | -6.25 | 23.08 | -5.0 | 20 | 7.69 |
| 03/31/2014 | 0 | 0 | 0 | 15.38 | 0 | 43.75 | 0 | 10.53 | 11.11 | 15.38 | 5 | 33.33 | -7.69 |
| 06/30/2014 | 5.26 | 11.76 | 9.52 | 13.33 | 15 | 43.75 | 7.14 | 5.26 | 5.88 | 20 | -5.0 | 31.25 | 0 |
| 09/30/2014 | -5.26 | 11.11 | 0 | 21.43 | 0 | 35.71 | 0 | 0 | 0 | 7.14 | 0 | 7.14 | 0 |
| 12/31/2014 | 0 | 23.53 | 4.76 | 12.5 | 5 | 33.33 | 6.67 | -5.56 | 11.76 | 0 | -15.0 | 6.67 | 0 |
| 03/31/2015 | -5.88 | 25 | 9.52 | 16.67 | 5.56 | 28.57 | 8.33 | -5.88 | -6.25 | 0 | 0 | 14.29 | 0 |
| 06/30/2015 | -5.56 | 11.76 | 19.05 | 7.14 | 0 | 28.57 | 14.29 | 0 | -11.76 | 7.14 | -10.53 | 7.14 | 0 |
| 09/30/2015 | -12.5 | 5.88 | 10 | 0 | 11.11 | 33.33 | 0 | -18.75 | -35.29 | -30.77 | -16.67 | -6.67 | -30.77 |
| 12/31/2015 | -5.88 | 17.65 | 0 | 14.29 | 10.53 | 26.67 | 15.38 | 17.65 | -11.76 | -21.43 | -15.79 | -6.67 | -15.38 |
| 03/31/2016 | 11.11 | 22.22 | -19.05 | -16.67 | 0 | 14.29 | 9.09 | -22.22 | -50.0 | -50.0 | -27.78 | -50.0 | -45.45 |
| 06/30/2016 | 5.56 | 12.5 | 10 | 9.09 | 11.11 | 21.43 | 18.18 | 5.56 | 0 | -18.18 | 11.11 | 0 | 0 |
| 09/30/2016 | 15.79 | 21.05 | 14.29 | 0 | 14.29 | 26.67 | 16.67 | 5 | -15.0 | 13.33 | 4.55 | 6.67 | 28.57 |
| 12/31/2016 | 0 | 21.05 | 23.81 | 6.25 | 5 | 0 | 7.69 | -5.0 | 0 | 18.75 | -4.76 | 6.25 | 20 |
| 03/31/2017 | 5.26 | 20 | 30 | -6.67 | 5.26 | 0 | 0 | 14.29 | 0 | 13.33 | -5.0 | 26.67 | 35.71 |
| 06/30/2017 | -10.0 | 10 | 47.62 | -25.0 | 4.76 | 12.5 | -8.33 | 13.64 | 20 | 18.75 | 4.55 | 37.5 | 15.38 |
| 09/30/2017 | 9.52 | 5.26 | 4.76 | 0 | -4.76 | 0 | 6.67 | 0 | -5.26 | 11.76 | 4.76 | 5.88 | 0 |
| 12/31/2017 | 9.09 | 5 | 28.57 | -12.5 | 4.76 | -12.5 | 0 | 0 | 0 | 12.5 | 0 | 12.5 | 16.67 |
| 03/31/2018 | 9.09 | 5.26 | 19.05 | -6.25 | 9.52 | -6.25 | -14.29 | 0 | -10.53 | 6.25 | 4.76 | 0 | 13.33 |
| 06/30/2018 | 9.52 | -5.26 | -19.05 | -6.25 | 0 | 0 | -12.5 | 0 | -5.26 | -6.25 | 4.76 | 0 | 0 |
| 09/30/2018 | 8.7 | 4.76 | -28.57 | -5.88 | 9.52 | 0 | 0 | 8.7 | -4.76 | 5.88 | 4.76 | -5.56 | 5.88 |
| 12/31/2018 | 4.55 | 10.53 | -14.29 | 0 | 19.05 | 11.76 | 12.5 | -9.09 | -5.26 | -17.65 | 0 | -5.88 | -11.76 |
| 03/31/2019 | 0 | 5.26 | -23.81 | -6.25 | 10 | 0 | 6.25 | 0 | -5.26 | 6.25 | 0 | 11.76 | 5.88 |
| 06/30/2019 | 9.52 | 10.53 | 20 | 0 | 14.29 | 5.88 | 12.5 | -4.76 | -10.53 | 12.5 | 9.52 | 11.76 | 5.88 |
| 09/30/2019 | 4.76 | 0 | 25 | 0 | 9.52 | 5.56 | 6.25 | -4.76 | 0 | -6.67 | -4.76 | 0 | -5.88 |
| 12/31/2019 | 0 | 5.56 | 21.05 | 6.67 | 9.52 | 6.25 | 0 | 0 | -5.26 | 6.67 | -4.76 | -6.25 | 0 |
| 03/31/2020 | -4.55 | 0 | 19.05 | 6.67 | 13.64 | 22.22 | 13.33 | 13.04 | 0 | 0 | 9.09 | 5.56 | 12.5 |
| 06/30/2020 | 55 | 50 | -30.0 | 50 | 0 | 50 | 53.33 | -33.33 | -57.89 | -81.25 | -36.36 | -83.33 | -56.25 |
| 09/30/2020 | 10 | 5.56 | 35 | -5.88 | -4.76 | -5.88 | -20.0 | 38.1 | 42.11 | 47.06 | 28.57 | 47.06 | 62.5 |
| 12/31/2020 | 19.05 | 22.22 | 35 | -17.65 | 0 | -11.76 | -12.5 | 13.64 | 26.32 | 23.53 | 14.29 | 17.65 | 35.29 |
| 03/31/2021 | 10 | 16.67 | 45 | 6.25 | 0 | 0 | -14.29 | 9.52 | 15.79 | 18.75 | 9.52 | 31.25 | 33.33 |
| 06/30/2021 | 0 | 0 | 30 | 0 | -23.81 | -10.53 | 0 | 18.18 | 9.52 | 17.65 | 9.52 | 26.32 | 31.25 |
| 09/30/2021 | 10 | 25 | 5.26 | 20 | -19.05 | 11.76 | 13.33 | -4.76 | 0 | 20 | 4.76 | 17.65 | 6.25 |
| 12/31/2021 | -5.0 | 10.53 | 25 | 12.5 | 4.76 | 0 | 0 | 9.52 | 5 | 12.5 | 0 | 5.88 | 0 |
| 03/31/2022 | 0 | -10.53 | -5.0 | 17.65 | 0 | 11.76 | 13.33 | 0 | 0 | -5.88 | -4.76 | -5.88 | -6.67 |
| 06/30/2022 | 4.76 | 5.26 | -25.0 | 0 | -4.76 | 11.76 | 13.33 | -13.64 | -5.0 | -16.67 | -19.05 | -5.88 | -13.33 |
| 09/30/2022 | 10 | 11.11 | -5.26 | 6.67 | -10.0 | 12.5 | 13.33 | 4.76 | 0 | -20.0 | 0 | -18.75 | -6.67 |
| 12/31/2022 | 0 | 5.88 | -23.53 | 23.08 | 0 | 33.33 | 21.43 | -10.53 | -27.78 | -21.43 | -5.56 | -13.33 | -21.43 |
| 03/31/2023 | -11.11 | -11.76 | -5.88 | -6.25 | 0 | 0 | 0 | 10.53 | -11.11 | 12.5 | 5.56 | 20 | 28.57 |
| 06/30/2023 | 21.05 | 11.11 | -15.79 | 6.25 | 10 | 12.5 | 14.29 | -15.0 | -10.53 | -31.25 | -15.0 | 0 | -14.29 |
| 09/30/2023 | 11.11 | 11.11 | 27.78 | 0 | 0 | 18.75 | 7.14 | -5.26 | -10.53 | 0 | -10.53 | 0 | 14.29 |
| 12/31/2023 | 10.53 | 5.56 | 5.56 | -6.25 | -11.11 | 12.5 | 13.33 | 0 | -5.26 | 0 | -5.56 | 6.25 | -6.67 |
| 03/31/2024 | 10.53 | 5.56 | 33.33 | 0 | -5.26 | -6.67 | 7.14 | 25 | 15.79 | 11.76 | 5.56 | 12.5 | 0 |
| 06/30/2024 | 14.29 | 0 | 26.32 | 5.56 | 4.76 | 0 | 0 | 13.64 | 4.55 | 11.11 | 0 | 5.56 | 12.5 |
| 09/30/2024 | 4.76 | 0 | 0 | 11.11 | 15 | 5.56 | 6.25 | 9.09 | 9.09 | 5.56 | 5 | 5.56 | 0 |
Note: CMBS is commercial mortgage-backed securities, RMBS is residential mortgage-backed securities, and ABS is asset-backed securities.
+ The question was added to the survey in September 2011. Return to text
Source: Federal Reserve Board, Senior Credit Officer Opinion Survey on Dealer Financing Terms.
Last Update:
September 26, 2024