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  4. July 2020 Senior Loan Officer Opinion Survey on Bank Lending Practices

Senior Loan Officer Opinion Survey on Bank Lending Practices

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

(Status of Policy as of July 2020)

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 8 11.0 5 15.6 3 7.3
Tightened somewhat 44 60.3 19 59.4 25 61.0
Remained basically unchanged 21 28.8 8 25.0 13 31.7
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 73 100 32 100 41 100

For this question, 1 respondent answered "My bank does not originate C&I loans or credit lines to large and middle-market firms."

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 9 12.9 5 17.2 4 9.8
Tightened somewhat 40 57.1 17 58.6 23 56.1
Remained basically unchanged 21 30.0 7 24.1 14 34.1
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 29 100 41 100

For this question, 3 respondents answered "My bank does not originate C&I loans or credit lines to small firms."

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 6 8.2 2 6.2 4 9.8
Tightened somewhat 25 34.2 14 43.8 11 26.8
Remained basically unchanged 41 56.2 15 46.9 26 63.4
Eased somewhat 1 1.4 1 3.1 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 73 100 32 100 41 100

b. Maximum maturity of loans or credit lines

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 1 1.4 1 3.1 0 0.0
Tightened somewhat 29 39.7 16 50.0 13 31.7
Remained basically unchanged 43 58.9 15 46.9 28 68.3
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 73 100 32 100 41 100

c. Costs of credit lines

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 5 6.8 4 12.5 1 2.4
Tightened somewhat 33 45.2 18 56.2 15 36.6
Remained basically unchanged 33 45.2 10 31.2 23 56.1
Eased somewhat 2 2.7 0 0.0 2 4.9
Eased considerably 0 0.0 0 0.0 0 0.0
Total 73 100 32 100 41 100

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 5 6.8 4 12.5 1 2.4
Tightened somewhat 42 57.5 24 75.0 18 43.9
Remained basically unchanged 22 30.1 4 12.5 18 43.9
Eased somewhat 4 5.5 0 0.0 4 9.8
Eased considerably 0 0.0 0 0.0 0 0.0
Total 73 100 32 100 41 100

e. Premiums charged on riskier loans

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 13 17.8 9 28.1 4 9.8
Tightened somewhat 31 42.5 16 50.0 15 36.6
Remained basically unchanged 28 38.4 7 21.9 21 51.2
Eased somewhat 1 1.4 0 0.0 1 2.4
Eased considerably 0 0.0 0 0.0 0 0.0
Total 73 100 32 100 41 100

f. Loan covenants

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 2 2.7 1 3.1 1 2.4
Tightened somewhat 40 54.8 20 62.5 20 48.8
Remained basically unchanged 29 39.7 9 28.1 20 48.8
Eased somewhat 2 2.7 2 6.2 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 73 100 32 100 41 100

g. Collateralization requirements

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 2 2.7 1 3.1 1 2.4
Tightened somewhat 40 54.8 20 62.5 20 48.8
Remained basically unchanged 31 42.5 11 34.4 20 48.8
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 73 100 32 100 41 100

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 21 28.8 13 40.6 8 19.5
Tightened somewhat 29 39.7 12 37.5 17 41.5
Remained basically unchanged 22 30.1 7 21.9 15 36.6
Eased somewhat 1 1.4 0 0.0 1 2.4
Eased considerably 0 0.0 0 0.0 0 0.0
Total 73 100 32 100 41 100

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 7 10.0 3 10.3 4 9.8
Tightened somewhat 22 31.4 11 37.9 11 26.8
Remained basically unchanged 41 58.6 15 51.7 26 63.4
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 29 100 41 100

b. Maximum maturity of loans or credit lines

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 2 2.9 1 3.4 1 2.4
Tightened somewhat 26 37.1 14 48.3 12 29.3
Remained basically unchanged 41 58.6 14 48.3 27 65.9
Eased somewhat 1 1.4 0 0.0 1 2.4
Eased considerably 0 0.0 0 0.0 0 0.0
Total 70 100 29 100 41 100

c. Costs of credit lines

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 2 2.9 2 6.9 0 0.0
Tightened somewhat 31 44.9 14 48.3 17 42.5
Remained basically unchanged 34 49.3 13 44.8 21 52.5
Eased somewhat 2 2.9 0 0.0 2 5.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 69 100 29 100 40 100

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 4 5.7 3 10.3 1 2.4
Tightened somewhat 37 52.9 18 62.1 19 46.3
Remained basically unchanged 26 37.1 8 27.6 18 43.9
Eased somewhat 3 4.3 0 0.0 3 7.3
Eased considerably 0 0.0 0 0.0 0 0.0
Total 70 100 29 100 41 100

e. Premiums charged on riskier loans

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 10 14.3 5 17.2 5 12.2
Tightened somewhat 30 42.9 15 51.7 15 36.6
Remained basically unchanged 29 41.4 9 31.0 20 48.8
Eased somewhat 1 1.4 0 0.0 1 2.4
Eased considerably 0 0.0 0 0.0 0 0.0
Total 70 100 29 100 41 100

f. Loan covenants

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 2 2.9 1 3.4 1 2.4
Tightened somewhat 36 51.4 18 62.1 18 43.9
Remained basically unchanged 31 44.3 10 34.5 21 51.2
Eased somewhat 1 1.4 0 0.0 1 2.4
Eased considerably 0 0.0 0 0.0 0 0.0
Total 70 100 29 100 41 100

g. Collateralization requirements

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 4 5.8 2 6.9 2 5.0
Tightened somewhat 34 49.3 15 51.7 19 47.5
Remained basically unchanged 31 44.9 12 41.4 19 47.5
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 69 100 29 100 40 100

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 14 20.0 7 24.1 7 17.1
Tightened somewhat 32 45.7 14 48.3 18 43.9
Remained basically unchanged 23 32.9 8 27.6 15 36.6
Eased somewhat 1 1.4 0 0.0 1 2.4
Eased considerably 0 0.0 0 0.0 0 0.0
Total 70 100 29 100 41 100

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? (Please respond to either A, B, or both as appropriate.)

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 47 78.3 22 78.6 25 78.1
Somewhat important 12 20.0 6 21.4 6 18.8
Very important 1 1.7 0 0.0 1 3.1
Total 60 100 28 100 32 100

b. Less favorable or more uncertain economic outlook

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 2 3.2 1 3.4 1 3.0
Somewhat important 6 9.7 3 10.3 3 9.1
Very important 54 87.1 25 86.2 29 87.9
Total 62 100 29 100 33 100

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

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 4 6.6 1 3.4 3 9.4
Somewhat important 13 21.3 5 17.2 8 25.0
Very important 44 72.1 23 79.3 21 65.6
Total 61 100 29 100 32 100

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 43 70.5 20 71.4 23 69.7
Somewhat important 18 29.5 8 28.6 10 30.3
Very important 0 0.0 0 0.0 0 0.0
Total 61 100 28 100 33 100

e. Reduced tolerance for risk

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 9 14.8 4 14.3 5 15.2
Somewhat important 36 59.0 18 64.3 18 54.5
Very important 16 26.2 6 21.4 10 30.3
Total 61 100 28 100 33 100

f. Decreased liquidity in the secondary market for these loans

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 42 68.9 17 60.7 25 75.8
Somewhat important 19 31.1 11 39.3 8 24.2
Very important 0 0.0 0 0.0 0 0.0
Total 61 100 28 100 33 100

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 57 93.4 27 96.4 30 90.9
Somewhat important 4 6.6 1 3.6 3 9.1
Very important 0 0.0 0 0.0 0 0.0
Total 61 100 28 100 33 100

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 45 73.8 24 85.7 21 63.6
Somewhat important 12 19.7 4 14.3 8 24.2
Very important 4 6.6 0 0.0 4 12.1
Total 61 100 28 100 33 100

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

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

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

b. More favorable or less uncertain economic outlook

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

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

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

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

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

e. Increased tolerance for risk

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

f. Increased liquidity in the secondary market for these loans

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

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

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

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

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

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 9 12.3 5 15.6 4 9.8
Moderately stronger 11 15.1 9 28.1 2 4.9
About the same 16 21.9 5 15.6 11 26.8
Moderately weaker 26 35.6 8 25.0 18 43.9
Substantially weaker 11 15.1 5 15.6 6 14.6
Total 73 100 32 100 41 100

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 7 10.0 3 10.3 4 9.8
Moderately stronger 11 15.7 7 24.1 4 9.8
About the same 14 20.0 4 13.8 10 24.4
Moderately weaker 27 38.6 11 37.9 16 39.0
Substantially weaker 11 15.7 4 13.8 7 17.1
Total 70 100 29 100 41 100

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? (Please respond to either A, B, or both as appropriate.)

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 16 76.2 12 80.0 4 66.7
Somewhat important 4 19.0 2 13.3 2 33.3
Very important 1 4.8 1 6.7 0 0.0
Total 21 100 15 100 6 100

b. Customer accounts receivable financing needs increased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 14 66.7 10 66.7 4 66.7
Somewhat important 5 23.8 3 20.0 2 33.3
Very important 2 9.5 2 13.3 0 0.0
Total 21 100 15 100 6 100

c. Customer investment in plant or equipment increased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 19 90.5 15 100.0 4 66.7
Somewhat important 2 9.5 0 0.0 2 33.3
Very important 0 0.0 0 0.0 0 0.0
Total 21 100 15 100 6 100

d. Customer internally generated funds decreased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 6 30.0 4 28.6 2 33.3
Somewhat important 1 5.0 1 7.1 0 0.0
Very important 13 65.0 9 64.3 4 66.7
Total 20 100 14 100 6 100

e. Customer merger or acquisition financing needs increased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 19 90.5 14 93.3 5 83.3
Somewhat important 2 9.5 1 6.7 1 16.7
Very important 0 0.0 0 0.0 0 0.0
Total 21 100 15 100 6 100

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 18 85.7 13 86.7 5 83.3
Somewhat important 2 9.5 1 6.7 1 16.7
Very important 1 4.8 1 6.7 0 0.0
Total 21 100 15 100 6 100

g. Customer precautionary demand for cash and liquidity increased

  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 3 12.5 1 6.2 2 25.0
Very important 21 87.5 15 93.8 6 75.0
Total 24 100 16 100 8 100

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 10 26.3 5 31.2 5 22.7
Somewhat important 17 44.7 5 31.2 12 54.5
Very important 11 28.9 6 37.5 5 22.7
Total 38 100 16 100 22 100

b. Customer accounts receivable financing needs decreased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 12 33.3 5 33.3 7 33.3
Somewhat important 17 47.2 5 33.3 12 57.1
Very important 7 19.4 5 33.3 2 9.5
Total 36 100 15 100 21 100

c. Customer investment in plant or equipment decreased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 8 22.2 4 26.7 4 19.0
Somewhat important 10 27.8 3 20.0 7 33.3
Very important 18 50.0 8 53.3 10 47.6
Total 36 100 15 100 21 100

d. Customer internally generated funds increased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 23 63.9 11 73.3 12 57.1
Somewhat important 11 30.6 3 20.0 8 38.1
Very important 2 5.6 1 6.7 1 4.8
Total 36 100 15 100 21 100

e. Customer merger or acquisition financing needs decreased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 13 36.1 4 26.7 9 42.9
Somewhat important 15 41.7 7 46.7 8 38.1
Very important 8 22.2 4 26.7 4 19.0
Total 36 100 15 100 21 100

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 29 80.6 13 86.7 16 76.2
Somewhat important 4 11.1 1 6.7 3 14.3
Very important 3 8.3 1 6.7 2 9.5
Total 36 100 15 100 21 100

g. Customer precautionary demand for cash and liquidity decreased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 22 59.5 10 66.7 12 54.5
Somewhat important 12 32.4 4 26.7 8 36.4
Very important 3 8.1 1 6.7 2 9.1
Total 37 100 15 100 22 100

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 3 4.3 1 3.2 2 5.1
The number of inquiries has increased moderately 13 18.6 9 29.0 4 10.3
The number of inquiries has stayed about the same 21 30.0 6 19.4 15 38.5
The number of inquiries has decreased moderately 23 32.9 10 32.3 13 33.3
The number of inquiries has decreased substantially 10 14.3 5 16.1 5 12.8
Total 70 100 31 100 39 100

For this question, 1 respondent answered "My bank does not originate C&I lines of credit."

Questions 7-12 ask about changes in standards and demand over the past three months for three different types of commercial real estate (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 16 23.5 8 28.6 8 20.0
Tightened somewhat 39 57.4 15 53.6 24 60.0
Remained basically unchanged 13 19.1 5 17.9 8 20.0
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 28 100 40 100

For this question, 5 respondents answered "My bank does not originate construction and land development loans or credit lines."

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 10 14.1 5 16.1 5 12.5
Tightened somewhat 45 63.4 18 58.1 27 67.5
Remained basically unchanged 16 22.5 8 25.8 8 20.0
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 71 100 31 100 40 100

For this question, 3 respondents answered "My bank does not originate loans secured by nonfarm nonresidential properties."

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 4 5.7 2 6.5 2 5.1
Tightened somewhat 41 58.6 17 54.8 24 61.5
Remained basically unchanged 25 35.7 12 38.7 13 33.3
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 70 100 31 100 39 100

For this question, 3 respondents answered "My bank does not originate loans secured by multifamily residential properties."

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 1 1.4 0 0.0 1 2.4
Moderately stronger 3 4.3 1 3.6 2 4.9
About the same 20 29.0 1 3.6 19 46.3
Moderately weaker 26 37.7 14 50.0 12 29.3
Substantially weaker 19 27.5 12 42.9 7 17.1
Total 69 100 28 100 41 100

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 0 0.0 0 0.0 0 0.0
Moderately stronger 1 1.4 0 0.0 1 2.5
About the same 20 28.2 3 9.7 17 42.5
Moderately weaker 37 52.1 20 64.5 17 42.5
Substantially weaker 13 18.3 8 25.8 5 12.5
Total 71 100 31 100 40 100

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 0 0.0 0 0.0 0 0.0
Moderately stronger 2 2.8 0 0.0 2 5.0
About the same 26 36.6 8 25.8 18 45.0
Moderately weaker 37 52.1 21 67.7 16 40.0
Substantially weaker 6 8.5 2 6.5 4 10.0
Total 71 100 31 100 40 100

Note: Beginning with the January 2015 survey, the loan categories referred to in the questions regarding changes in credit standards and demand for residential mortgage loans have been revised to reflect the Consumer Financial Protection Bureau's qualified mortgage rules.

Questions 13-14 ask about seven categories of residential mortgage loans at your bank: Government-Sponsored Enterprise eligible (GSE-eligible) residential mortgages, government residential mortgages, Qualified Mortgage non-jumbo non-GSE-eligible (QM non-jumbo, non-GSE-eligible) residential mortgages, QM jumbo residential mortgages, non-QM jumbo residential mortgages, non-QM non-jumbo residential mortgages, and subprime residential mortgages. For the purposes of this survey, please use the following definitions of these loan categories and include first-lien closed-end loans to purchase homes only. The loan categories have been defined so that every first-lien closed-end residential mortgage loan used for home purchase fits into one of the following seven categories:

  • The GSE-eligible category of residential mortgages includes loans that meet the underwriting guidelines, including loan limit amounts, of the GSEs - Fannie Mae and Freddie Mac.
     
  • The government category of residential mortgages includes loans that are insured by the Federal Housing Administration, guaranteed by the Department of Veterans Affairs, or originated under government programs, including the U.S. Department of Agriculture home loan programs.
     
  • The QM non-jumbo, non-GSE-eligible category of residential mortgages includes loans that satisfy the standards for a qualified mortgage and have loan balances that are below the loan limit amounts set by the GSEs but otherwise do not meet the GSE underwriting guidelines.
     
  • The QM jumbo category of residential mortgages includes loans that satisfy the standards for a qualified mortgage but have loan balances that are above the loan limit amount set by the GSEs.
     
  • The non-QM jumbo category of residential mortgages includes loans that do not satisfy the standards for a qualified mortgage and have loan balances that are above the loan limit amount set by the GSEs.
     
  • The non-QM non-jumbo category of residential mortgages includes loans that do not satisfy the standards for a qualified mortgage and have loan balances that are below the loan limit amount set by the GSEs. (Please exclude loans classified by your bank as subprime in this category.)
     
  • The subprime category of residential mortgages includes loans classified by your bank as subprime. This category typically includes loans made to borrowers with weakened credit histories that include payment delinquencies, charge-offs, judgements, and/or bankruptcies; reduced repayment capacity as measured by credit scores or debt-to-income ratios; or incomplete credit histories.


Question 13 deals with changes in your bank's credit standards for loans in each of the seven loan categories over the past three months. 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. Question 14 deals with changes in demand for loans in each of the seven loan categories over the past three months.

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? (Please consider only new originations as opposed to the refinancing of existing mortgages.)

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

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 6 9.4 5 20.8 1 2.5
Tightened somewhat 29 45.3 13 54.2 16 40.0
Remained basically unchanged 29 45.3 6 25.0 23 57.5
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 24 100 40 100

For this question, 7 respondents answered "My bank does not originate GSE-eligible residential mortgages."

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

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 6 10.2 3 14.3 3 7.9
Tightened somewhat 25 42.4 12 57.1 13 34.2
Remained basically unchanged 28 47.5 6 28.6 22 57.9
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 59 100 21 100 38 100

For this question, 11 respondents answered "My bank does not originate government residential mortgages."

C. Credit standards on mortgage loans that your bank categorizes as QM non-jumbo, non-GSE-eligible residential mortgages have:

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 9 15.3 5 22.7 4 10.8
Tightened somewhat 26 44.1 12 54.5 14 37.8
Remained basically unchanged 24 40.7 5 22.7 19 51.4
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 59 100 22 100 37 100

For this question, 10 respondents answered "My bank does not originate QM non-jumbo, non-GSE-eligible residential mortgages."

D. Credit standards on mortgage loans that your bank categorizes as QM jumbo residential mortgages have:

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 9 14.8 7 30.4 2 5.3
Tightened somewhat 33 54.1 14 60.9 19 50.0
Remained basically unchanged 19 31.1 2 8.7 17 44.7
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 61 100 23 100 38 100

For this question, 9 respondents answered "My bank does not originate QM jumbo residential mortgages."

E. Credit standards on mortgage loans that your bank categorizes as non-QM jumbo residential mortgages have:

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 9 15.8 6 25.0 3 9.1
Tightened somewhat 31 54.4 15 62.5 16 48.5
Remained basically unchanged 17 29.8 3 12.5 14 42.4
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 57 100 24 100 33 100

For this question, 13 respondents answered "My bank does not originate non-QM jumbo residential mortgages."

F. Credit standards on mortgage loans that your bank categorizes as non-QM non-jumbo residential mortgages have:

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 7 12.7 5 22.7 2 6.1
Tightened somewhat 28 50.9 13 59.1 15 45.5
Remained basically unchanged 20 36.4 4 18.2 16 48.5
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 55 100 22 100 33 100

For this question, 15 respondents answered "My bank does not originate non-QM non-jumbo residential mortgages."

G. 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 NaN 2 28.6
Tightened somewhat 1 14.3 0 NaN 1 14.3
Remained basically unchanged 4 57.1 0 NaN 4 57.1
Eased somewhat 0 0.0 0 NaN 0 0.0
Eased considerably 0 0.0 0 NaN 0 0.0
Total 7 100 0 100 7 100

For this question, 63 respondents answered "My bank does not originate subprime residential mortgages."

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

A. Demand for mortgages that your bank categorizes as GSE-eligible residential mortgages was:

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Substantially stronger 15 23.8 3 13.0 12 30.0
Moderately stronger 25 39.7 12 52.2 13 32.5
About the same 15 23.8 2 8.7 13 32.5
Moderately weaker 7 11.1 5 21.7 2 5.0
Substantially weaker 1 1.6 1 4.3 0 0.0
Total 63 100 23 100 40 100

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

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Substantially stronger 9 15.5 4 19.0 5 13.5
Moderately stronger 14 24.1 6 28.6 8 21.6
About the same 24 41.4 5 23.8 19 51.4
Moderately weaker 9 15.5 4 19.0 5 13.5
Substantially weaker 2 3.4 2 9.5 0 0.0
Total 58 100 21 100 37 100

C. Demand for mortgages that your bank categorizes as QM non-jumbo, non-GSE-eligible residential mortgages was:

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Substantially stronger 8 13.3 3 13.6 5 13.2
Moderately stronger 16 26.7 7 31.8 9 23.7
About the same 25 41.7 5 22.7 20 52.6
Moderately weaker 10 16.7 6 27.3 4 10.5
Substantially weaker 1 1.7 1 4.5 0 0.0
Total 60 100 22 100 38 100

D. Demand for mortgages that your bank categorizes as QM jumbo residential mortgages was:

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Substantially stronger 6 9.8 4 17.4 2 5.3
Moderately stronger 21 34.4 9 39.1 12 31.6
About the same 21 34.4 2 8.7 19 50.0
Moderately weaker 12 19.7 7 30.4 5 13.2
Substantially weaker 1 1.6 1 4.3 0 0.0
Total 61 100 23 100 38 100

E. Demand for mortgages that your bank categorizes as non-QM jumbo residential mortgages was:

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Substantially stronger 5 8.8 2 8.3 3 9.1
Moderately stronger 17 29.8 9 37.5 8 24.2
About the same 24 42.1 5 20.8 19 57.6
Moderately weaker 9 15.8 7 29.2 2 6.1
Substantially weaker 2 3.5 1 4.2 1 3.0
Total 57 100 24 100 33 100

F. Demand for mortgages that your bank categorizes as non-QM non-jumbo residential mortgages was:

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Substantially stronger 4 7.4 2 9.1 2 6.2
Moderately stronger 16 29.6 8 36.4 8 25.0
About the same 25 46.3 6 27.3 19 59.4
Moderately weaker 7 13.0 5 22.7 2 6.2
Substantially weaker 2 3.7 1 4.5 1 3.1
Total 54 100 22 100 32 100

G. 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 NaN 0 0.0
Moderately stronger 2 28.6 0 NaN 2 28.6
About the same 4 57.1 0 NaN 4 57.1
Moderately weaker 1 14.3 0 NaN 1 14.3
Substantially weaker 0 0.0 0 NaN 0 0.0
Total 7 100 0 100 7 100

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 11 17.2 9 36.0 2 5.1
Tightened somewhat 31 48.4 14 56.0 17 43.6
Remained basically unchanged 21 32.8 2 8.0 19 48.7
Eased somewhat 1 1.6 0 0.0 1 2.6
Eased considerably 0 0.0 0 0.0 0 0.0
Total 64 100 25 100 39 100

For this question, 5 respondents answered "My bank does not originate revolving home equity lines of credit."

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 20 31.2 7 28.0 13 33.3
About the same 20 31.2 5 20.0 15 38.5
Moderately weaker 18 28.1 8 32.0 10 25.6
Substantially weaker 6 9.4 5 20.0 1 2.6
Total 64 100 25 100 39 100

Questions 17-26 ask about consumer lending at your bank. Question 17 deals with changes in your bank's willingness to make consumer loans over the past three months. Questions 18-23 deal with changes in credit standards and loan terms over the same period. Questions 24-26 deal 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.

17. 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 0 0.0 0 0.0 0 0.0
About unchanged 36 59.0 8 34.8 28 73.7
Somewhat less willing 22 36.1 12 52.2 10 26.3
Much less willing 3 4.9 3 13.0 0 0.0
Total 61 100 23 100 38 100

For this question, 11 respondents answered "My bank does not originate consumer installment loans."

18. 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 14 30.4 11 44.0 3 14.3
Tightened somewhat 19 41.3 12 48.0 7 33.3
Remained basically unchanged 13 28.3 2 8.0 11 52.4
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 46 100 25 100 21 100

For this question, 24 respondents answered "My bank does not originate credit card loans to individuals or households."

19. 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 9 16.1 6 31.6 3 8.1
Tightened somewhat 22 39.3 10 52.6 12 32.4
Remained basically unchanged 25 44.6 3 15.8 22 59.5
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 56 100 19 100 37 100

For this question, 14 respondents answered "My bank does not originate auto loans to individuals or households."

20. 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 7 11.5 5 21.7 2 5.3
Tightened somewhat 30 49.2 14 60.9 16 42.1
Remained basically unchanged 24 39.3 4 17.4 20 52.6
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 61 100 23 100 38 100

For this question, 10 respondents answered "My bank does not originate consumer loans other than credit card or auto loans."

21. 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 7 15.6 4 16.7 3 14.3
Tightened somewhat 20 44.4 14 58.3 6 28.6
Remained basically unchanged 18 40.0 6 25.0 12 57.1
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 45 100 24 100 21 100

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 4 8.9 1 4.2 3 14.3
Remained basically unchanged 40 88.9 23 95.8 17 81.0
Eased somewhat 1 2.2 0 0.0 1 4.8
Eased considerably 0 0.0 0 0.0 0 0.0
Total 45 100 24 100 21 100

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 2.2 0 0.0 1 4.8
Remained basically unchanged 39 86.7 21 87.5 18 85.7
Eased somewhat 3 6.7 2 8.3 1 4.8
Eased considerably 2 4.4 1 4.2 1 4.8
Total 45 100 24 100 21 100

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 14 31.1 10 41.7 4 19.0
Tightened somewhat 14 31.1 10 41.7 4 19.0
Remained basically unchanged 17 37.8 4 16.7 13 61.9
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 45 100 24 100 21 100

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 8 17.8 6 25.0 2 9.5
Tightened somewhat 14 31.1 9 37.5 5 23.8
Remained basically unchanged 23 51.1 9 37.5 14 66.7
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 45 100 24 100 21 100

22. 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 2 3.7 0 0.0 2 5.7
Tightened somewhat 7 13.0 4 21.1 3 8.6
Remained basically unchanged 44 81.5 15 78.9 29 82.9
Eased somewhat 1 1.9 0 0.0 1 2.9
Eased considerably 0 0.0 0 0.0 0 0.0
Total 54 100 19 100 35 100

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 1 1.8 0 0.0 1 2.8
Tightened somewhat 22 40.0 13 68.4 9 25.0
Remained basically unchanged 30 54.5 6 31.6 24 66.7
Eased somewhat 2 3.6 0 0.0 2 5.6
Eased considerably 0 0.0 0 0.0 0 0.0
Total 55 100 19 100 36 100

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

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 3 5.5 1 5.3 2 5.6
Tightened somewhat 12 21.8 6 31.6 6 16.7
Remained basically unchanged 40 72.7 12 63.2 28 77.8
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 55 100 19 100 36 100

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

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 5 9.1 1 5.3 4 11.1
Tightened somewhat 20 36.4 14 73.7 6 16.7
Remained basically unchanged 30 54.5 4 21.1 26 72.2
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 55 100 19 100 36 100

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

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 5 9.3 3 15.8 2 5.7
Tightened somewhat 15 27.8 6 31.6 9 25.7
Remained basically unchanged 34 63.0 10 52.6 24 68.6
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 54 100 19 100 35 100

23. 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 7 11.7 3 13.0 4 10.8
Remained basically unchanged 53 88.3 20 87.0 33 89.2
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 60 100 23 100 37 100

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 14 23.3 7 30.4 7 18.9
Remained basically unchanged 42 70.0 15 65.2 27 73.0
Eased somewhat 4 6.7 1 4.3 3 8.1
Eased considerably 0 0.0 0 0.0 0 0.0
Total 60 100 23 100 37 100

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 10 16.7 4 17.4 6 16.2
Remained basically unchanged 50 83.3 19 82.6 31 83.8
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 60 100 23 100 37 100

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 3 5.0 2 8.7 1 2.7
Tightened somewhat 23 38.3 13 56.5 10 27.0
Remained basically unchanged 34 56.7 8 34.8 26 70.3
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 60 100 23 100 37 100

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

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 5 8.3 4 17.4 1 2.7
Tightened somewhat 17 28.3 7 30.4 10 27.0
Remained basically unchanged 38 63.3 12 52.2 26 70.3
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 60 100 23 100 37 100

24. 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 1 2.2 0 0.0 1 4.8
About the same 14 30.4 2 8.0 12 57.1
Moderately weaker 16 34.8 12 48.0 4 19.0
Substantially weaker 15 32.6 11 44.0 4 19.0
Total 46 100 25 100 21 100

25. 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 3 5.5 0 0.0 3 8.3
Moderately stronger 4 7.3 2 10.5 2 5.6
About the same 14 25.5 2 10.5 12 33.3
Moderately weaker 28 50.9 13 68.4 15 41.7
Substantially weaker 6 10.9 2 10.5 4 11.1
Total 55 100 19 100 36 100

26. 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 8 13.1 4 17.4 4 10.5
About the same 19 31.1 4 17.4 15 39.5
Moderately weaker 27 44.3 10 43.5 17 44.7
Substantially weaker 7 11.5 5 21.7 2 5.3
Total 61 100 23 100 38 100

Question 27 asks you to describe the current level of lending standards at your bank relative to the range of standards that has prevailed between 2005 and the present, a period which likely encompasses a wide range of standards as seen over a credit cycle. For each of the loan categories listed below, please use as reference points the points at which standards at your bank were tightest (most restrictive or least accommodative) and easiest (most accommodative or least restrictive) during this period.

27. Using the range between the tightest and the easiest that lending standards at your bank have been between 2005 and the present, for each of the loan categories listed below, how would you describe your bank's current level of standards relative to that range? (Please respond using the following scale: 1 = near the easiest level that standards have been during this period, 2 = significantly easier than the midpoint that standards have been during this period, 3 = somewhat easier than the midpoint that standards have been during this period, 4 = near the midpoint that standards have been during this period, 5 = somewhat tighter than the midpoint that standards have been during this period, 6 = significantly tighter than the midpoint that standards have been during this period, 7 = near the tightest level that standards have been during this period.) If a different time frame (other than between 2005 and the present) would better encompass the most recent period over which your bank's standards have spanned the range of easiest to tightest, please indicate that reference range in the comment box below.

A. C&I loans or credit lines:

a. Syndicated or club loans (large loans originated by a group of relationship lenders) to investment-grade firms (or unrated firms of similar creditworthiness)

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Near the easiest level 0 0.0 0 0.0 0 0.0
Significantly easier than the midpoint 0 0.0 0 0.0 0 0.0
Somewhat easier than the midpoint 3 4.8 2 6.7 1 3.0
Near the midpoint 22 34.9 12 40.0 10 30.3
Somewhat tighter than the midpoint 23 36.5 14 46.7 9 27.3
Significantly tighter than the midpoint 13 20.6 2 6.7 11 33.3
Near the tightest level 2 3.2 0 0.0 2 6.1
Total 63 100 30 100 33 100

b. Syndicated or club loans to below-investment-grade firms (or unrated firms of similar creditworthiness)

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Near the easiest level 0 0.0 0 0.0 0 0.0
Significantly easier than the midpoint 0 0.0 0 0.0 0 0.0
Somewhat easier than the midpoint 3 4.8 2 6.9 1 3.0
Near the midpoint 10 16.1 5 17.2 5 15.2
Somewhat tighter than the midpoint 21 33.9 14 48.3 7 21.2
Significantly tighter than the midpoint 18 29.0 6 20.7 12 36.4
Near the tightest level 10 16.1 2 6.9 8 24.2
Total 62 100 29 100 33 100

c. Non-syndicated loans to large and middle-market firms (annual sales of $50 million or more)

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Near the easiest level 0 0.0 0 0.0 0 0.0
Significantly easier than the midpoint 0 0.0 0 0.0 0 0.0
Somewhat easier than the midpoint 2 3.0 1 3.3 1 2.8
Near the midpoint 17 25.8 6 20.0 11 30.6
Somewhat tighter than the midpoint 37 56.1 19 63.3 18 50.0
Significantly tighter than the midpoint 8 12.1 4 13.3 4 11.1
Near the tightest level 2 3.0 0 0.0 2 5.6
Total 66 100 30 100 36 100

d. Non-syndicated loans to small firms (annual sales of less than $50 million)

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Near the easiest level 0 0.0 0 0.0 0 0.0
Significantly easier than the midpoint 0 0.0 0 0.0 0 0.0
Somewhat easier than the midpoint 3 4.6 0 0.0 3 8.6
Near the midpoint 17 26.2 9 30.0 8 22.9
Somewhat tighter than the midpoint 34 52.3 16 53.3 18 51.4
Significantly tighter than the midpoint 8 12.3 4 13.3 4 11.4
Near the tightest level 3 4.6 1 3.3 2 5.7
Total 65 100 30 100 35 100

e. Loans to very small firms (annual sales of less than $5 million)

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Near the easiest level 0 0.0 0 0.0 0 0.0
Significantly easier than the midpoint 0 0.0 0 0.0 0 0.0
Somewhat easier than the midpoint 3 4.8 1 3.7 2 5.6
Near the midpoint 21 33.3 9 33.3 12 33.3
Somewhat tighter than the midpoint 27 42.9 12 44.4 15 41.7
Significantly tighter than the midpoint 9 14.3 4 14.8 5 13.9
Near the tightest level 3 4.8 1 3.7 2 5.6
Total 63 100 27 100 36 100

B. Loans or credit lines secured by commercial real estate:

a. For construction and land development purposes

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Near the easiest level 0 0.0 0 0.0 0 0.0
Significantly easier than the midpoint 0 0.0 0 0.0 0 0.0
Somewhat easier than the midpoint 2 3.0 1 3.4 1 2.6
Near the midpoint 12 17.9 1 3.4 11 28.9
Somewhat tighter than the midpoint 22 32.8 10 34.5 12 31.6
Significantly tighter than the midpoint 24 35.8 13 44.8 11 28.9
Near the tightest level 7 10.4 4 13.8 3 7.9
Total 67 100 29 100 38 100

b. Secured by nonfarm nonresidential properties

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Near the easiest level 0 0.0 0 0.0 0 0.0
Significantly easier than the midpoint 0 0.0 0 0.0 0 0.0
Somewhat easier than the midpoint 2 2.9 1 3.3 1 2.6
Near the midpoint 9 13.2 2 6.7 7 18.4
Somewhat tighter than the midpoint 37 54.4 16 53.3 21 55.3
Significantly tighter than the midpoint 14 20.6 8 26.7 6 15.8
Near the tightest level 6 8.8 3 10.0 3 7.9
Total 68 100 30 100 38 100

c. Secured by multifamily residential properties

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Near the easiest level 0 0.0 0 0.0 0 0.0
Significantly easier than the midpoint 0 0.0 0 0.0 0 0.0
Somewhat easier than the midpoint 2 2.9 1 3.3 1 2.6
Near the midpoint 15 22.1 6 20.0 9 23.7
Somewhat tighter than the midpoint 31 45.6 14 46.7 17 44.7
Significantly tighter than the midpoint 16 23.5 7 23.3 9 23.7
Near the tightest level 4 5.9 2 6.7 2 5.3
Total 68 100 30 100 38 100

C. Loans or credit lines secured by residential real estate (For the jumbo category, consider residential real estate loans that have balances that are above the conforming loan limits announced by the FHFA. For remaining categories, please refer to the definitions of residential real estate loan categories stated in questions 13-14):

a. GSE-eligible residential mortgage loans

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Near the easiest level 0 0.0 0 0.0 0 0.0
Significantly easier than the midpoint 0 0.0 0 0.0 0 0.0
Somewhat easier than the midpoint 4 7.0 0 0.0 4 11.4
Near the midpoint 24 42.1 7 31.8 17 48.6
Somewhat tighter than the midpoint 23 40.4 11 50.0 12 34.3
Significantly tighter than the midpoint 3 5.3 2 9.1 1 2.9
Near the tightest level 3 5.3 2 9.1 1 2.9
Total 57 100 22 100 35 100

b. Government residential mortgage loans

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Near the easiest level 0 0.0 0 0.0 0 0.0
Significantly easier than the midpoint 0 0.0 0 0.0 0 0.0
Somewhat easier than the midpoint 5 9.1 1 4.8 4 11.8
Near the midpoint 27 49.1 12 57.1 15 44.1
Somewhat tighter than the midpoint 19 34.5 6 28.6 13 38.2
Significantly tighter than the midpoint 2 3.6 1 4.8 1 2.9
Near the tightest level 2 3.6 1 4.8 1 2.9
Total 55 100 21 100 34 100

c. Jumbo residential mortgage loans

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Near the easiest level 0 0.0 0 0.0 0 0.0
Significantly easier than the midpoint 0 0.0 0 0.0 0 0.0
Somewhat easier than the midpoint 2 3.3 0 0.0 2 5.7
Near the midpoint 19 31.7 5 20.0 14 40.0
Somewhat tighter than the midpoint 28 46.7 13 52.0 15 42.9
Significantly tighter than the midpoint 7 11.7 4 16.0 3 8.6
Near the tightest level 4 6.7 3 12.0 1 2.9
Total 60 100 25 100 35 100

d. Revolving home equity lines of credit

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Near the easiest level 0 0.0 0 0.0 0 0.0
Significantly easier than the midpoint 0 0.0 0 0.0 0 0.0
Somewhat easier than the midpoint 1 1.7 0 0.0 1 2.9
Near the midpoint 17 28.8 3 12.0 14 41.2
Somewhat tighter than the midpoint 26 44.1 11 44.0 15 44.1
Significantly tighter than the midpoint 8 13.6 5 20.0 3 8.8
Near the tightest level 7 11.9 6 24.0 1 2.9
Total 59 100 25 100 34 100

D. Consumer lending (please use your bank's own categorization for credit quality segments):

a. Credit card loans or lines of credit to prime borrowers

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Near the easiest level 0 0.0 0 0.0 0 0.0
Significantly easier than the midpoint 0 0.0 0 0.0 0 0.0
Somewhat easier than the midpoint 2 3.6 1 4.0 1 3.3
Near the midpoint 21 38.2 6 24.0 15 50.0
Somewhat tighter than the midpoint 20 36.4 9 36.0 11 36.7
Significantly tighter than the midpoint 4 7.3 2 8.0 2 6.7
Near the tightest level 8 14.5 7 28.0 1 3.3
Total 55 100 25 100 30 100

b. Credit card loans or lines of credit to subprime borrowers

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Near the easiest level 0 0.0 0 0.0 0 0.0
Significantly easier than the midpoint 0 0.0 0 0.0 0 0.0
Somewhat easier than the midpoint 2 4.8 1 6.7 1 3.7
Near the midpoint 14 33.3 2 13.3 12 44.4
Somewhat tighter than the midpoint 2 4.8 1 6.7 1 3.7
Significantly tighter than the midpoint 6 14.3 4 26.7 2 7.4
Near the tightest level 18 42.9 7 46.7 11 40.7
Total 42 100 15 100 27 100

c. Auto loans to prime borrowers

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Near the easiest level 0 0.0 0 0.0 0 0.0
Significantly easier than the midpoint 0 0.0 0 0.0 0 0.0
Somewhat easier than the midpoint 4 7.7 3 15.0 1 3.1
Near the midpoint 20 38.5 4 20.0 16 50.0
Somewhat tighter than the midpoint 23 44.2 9 45.0 14 43.8
Significantly tighter than the midpoint 1 1.9 1 5.0 0 0.0
Near the tightest level 4 7.7 3 15.0 1 3.1
Total 52 100 20 100 32 100

d. Auto loans to subprime borrowers

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Near the easiest level 0 0.0 0 0.0 0 0.0
Significantly easier than the midpoint 0 0.0 0 0.0 0 0.0
Somewhat easier than the midpoint 1 2.9 0 0.0 1 4.0
Near the midpoint 12 35.3 2 22.2 10 40.0
Somewhat tighter than the midpoint 4 11.8 1 11.1 3 12.0
Significantly tighter than the midpoint 4 11.8 3 33.3 1 4.0
Near the tightest level 13 38.2 3 33.3 10 40.0
Total 34 100 9 100 25 100

e. Consumer loans other than credit card and auto loans

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Near the easiest level 0 0.0 0 0.0 0 0.0
Significantly easier than the midpoint 0 0.0 0 0.0 0 0.0
Somewhat easier than the midpoint 1 1.8 0 0.0 1 3.1
Near the midpoint 20 36.4 5 21.7 15 46.9
Somewhat tighter than the midpoint 22 40.0 10 43.5 12 37.5
Significantly tighter than the midpoint 6 10.9 3 13.0 3 9.4
Near the tightest level 6 10.9 5 21.7 1 3.1
Total 55 100 23 100 32 100

Question 28 requests feedback on any other issues you judge to be important but are not addressed in this survey.

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 $50 billion or more as of March 31, 2020. The combined assets of the 33 large banks totaled $11.9 trillion, compared to $12.7 trillion for the entire panel of 75 banks, and $17.1 trillion for all domestically chartered, federally insured commercial banks. Return to text

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Last Update: August 03, 2020