1. Home
  2. Data
  3. Senior Loan Officer Opinion Survey on Bank Lending Practices
  4. The October 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices

Senior Loan Officer Opinion Survey on Bank Lending Practices

Table 1 PDF RSS DDP

Table 1 | Table 2 | Chart Data
Table 1 (PDF) | Table 2 (PDF) | Charts (PDF)

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

(Status of Policy as of October 2023)

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 2 3.4 0 0.0 2 5.4
Tightened somewhat 19 32.2 5 22.7 14 37.8
Remained basically unchanged 37 62.7 17 77.3 20 54.1
Eased somewhat 1 1.7 0 0.0 1 2.7
Eased considerably 0 0.0 0 0.0 0 0.0
Total 59 100 22 100 37 100

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 2 3.6 0 0.0 2 5.6
Tightened somewhat 15 26.8 4 20.0 11 30.6
Remained basically unchanged 39 69.6 16 80.0 23 63.9
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 20 100 36 100

For this question, 2 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 1 1.7 0 0.0 1 2.8
Tightened somewhat 13 22.4 3 13.6 10 27.8
Remained basically unchanged 44 75.9 19 86.4 25 69.4
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 58 100 22 100 36 100

b. Maximum maturity of loans or credit lines

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 2 3.5 0 0.0 2 5.7
Tightened somewhat 9 15.8 3 13.6 6 17.1
Remained basically unchanged 46 80.7 19 86.4 27 77.1
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 22 100 35 100

c. Costs of credit lines

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 6 10.3 0 0.0 6 16.7
Tightened somewhat 23 39.7 7 31.8 16 44.4
Remained basically unchanged 28 48.3 15 68.2 13 36.1
Eased somewhat 1 1.7 0 0.0 1 2.8
Eased considerably 0 0.0 0 0.0 0 0.0
Total 58 100 22 100 36 100

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 2 3.4 0 0.0 2 5.6
Tightened somewhat 30 51.7 8 36.4 22 61.1
Remained basically unchanged 23 39.7 13 59.1 10 27.8
Eased somewhat 3 5.2 1 4.5 2 5.6
Eased considerably 0 0.0 0 0.0 0 0.0
Total 58 100 22 100 36 100

e. Premiums charged on riskier loans

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 5 8.5 0 0.0 5 13.5
Tightened somewhat 25 42.4 9 40.9 16 43.2
Remained basically unchanged 29 49.2 13 59.1 16 43.2
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

f. Loan covenants

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 1 1.8 0 0.0 1 2.9
Tightened somewhat 11 19.3 2 9.1 9 25.7
Remained basically unchanged 45 78.9 20 90.9 25 71.4
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 22 100 35 100

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 8 14.3 0 0.0 8 23.5
Remained basically unchanged 48 85.7 22 100.0 26 76.5
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 22 100 34 100

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 1 1.7 0 0.0 1 2.7
Tightened somewhat 11 18.6 1 4.5 10 27.0
Remained basically unchanged 47 79.7 21 95.5 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 59 100 22 100 37 100

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 2 3.6 0 0.0 2 5.7
Tightened somewhat 13 23.6 2 10.0 11 31.4
Remained basically unchanged 40 72.7 18 90.0 22 62.9
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 20 100 35 100

b. Maximum maturity of loans or credit lines

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 2 3.8 0 0.0 2 5.9
Tightened somewhat 8 15.1 1 5.3 7 20.6
Remained basically unchanged 43 81.1 18 94.7 25 73.5
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 53 100 19 100 34 100

c. Costs of credit lines

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 6 10.7 0 0.0 6 16.7
Tightened somewhat 19 33.9 6 30.0 13 36.1
Remained basically unchanged 31 55.4 14 70.0 17 47.2
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 20 100 36 100

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 3 5.4 0 0.0 3 8.3
Tightened somewhat 23 41.1 5 25.0 18 50.0
Remained basically unchanged 29 51.8 15 75.0 14 38.9
Eased somewhat 1 1.8 0 0.0 1 2.8
Eased considerably 0 0.0 0 0.0 0 0.0
Total 56 100 20 100 36 100

e. Premiums charged on riskier loans

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 6 10.9 1 5.0 5 14.3
Tightened somewhat 17 30.9 5 25.0 12 34.3
Remained basically unchanged 32 58.2 14 70.0 18 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 55 100 20 100 35 100

f. Loan covenants

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 1 1.8 0 0.0 1 2.9
Tightened somewhat 9 16.4 1 5.0 8 22.9
Remained basically unchanged 45 81.8 19 95.0 26 74.3
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 20 100 35 100

g. Collateralization requirements

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 1 1.8 0 0.0 1 2.9
Tightened somewhat 9 16.4 1 5.0 8 22.9
Remained basically unchanged 45 81.8 19 95.0 26 74.3
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 20 100 35 100

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 2 3.6 0 0.0 2 5.6
Tightened somewhat 9 16.1 0 0.0 9 25.0
Remained basically unchanged 45 80.4 20 100.0 25 69.4
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 20 100 36 100

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 22 56.4 8 61.5 14 53.8
Somewhat Important 13 33.3 4 30.8 9 34.6
Very Important 4 10.3 1 7.7 3 11.5
Total 39 100 13 100 26 100

b. Less favorable or more uncertain economic outlook

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 5 12.5 2 15.4 3 11.1
Somewhat Important 22 55.0 8 61.5 14 51.9
Very Important 13 32.5 3 23.1 10 37.0
Total 40 100 13 100 27 100

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

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 20 52.6 9 69.2 11 44.0
Somewhat Important 13 34.2 2 15.4 11 44.0
Very Important 5 13.2 2 15.4 3 12.0
Total 38 100 13 100 25 100

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 18 45.0 8 61.5 10 37.0
Somewhat Important 22 55.0 5 38.5 17 63.0
Very Important 0 0.0 0 0.0 0 0.0
Total 40 100 13 100 27 100

e. Reduced tolerance for risk

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 10 25.0 5 38.5 5 18.5
Somewhat Important 25 62.5 7 53.8 18 66.7
Very Important 5 12.5 1 7.7 4 14.8
Total 40 100 13 100 27 100

f. Decreased liquidity in the secondary market for these loans

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 22 55.0 10 76.9 12 44.4
Somewhat Important 16 40.0 3 23.1 13 48.1
Very Important 2 5.0 0 0.0 2 7.4
Total 40 100 13 100 27 100

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 22 55.0 10 76.9 12 44.4
Somewhat Important 11 27.5 3 23.1 8 29.6
Very Important 7 17.5 0 0.0 7 25.9
Total 40 100 13 100 27 100

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 20 51.3 7 53.8 13 50.0
Somewhat Important 15 38.5 5 38.5 10 38.5
Very Important 4 10.3 1 7.7 3 11.5
Total 39 100 13 100 26 100

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 0 0.0 0 0.0 0 0.0
Moderately stronger 6 10.2 4 18.2 2 5.4
About the same 29 49.2 16 72.7 13 35.1
Moderately weaker 20 33.9 1 4.5 19 51.4
Substantially weaker 4 6.8 1 4.5 3 8.1
Total 59 100 22 100 37 100

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 0 0.0 0 0.0 0 0.0
Moderately stronger 2 3.5 0 0.0 2 5.4
About the same 25 43.9 12 60.0 13 35.1
Moderately weaker 26 45.6 8 40.0 18 48.6
Substantially weaker 4 7.0 0 0.0 4 10.8
Total 57 100 20 100 37 100

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 3 50.0 3 75.0 0 0.0
Somewhat Important 3 50.0 1 25.0 2 100.0
Very Important 0 0.0 0 0.0 0 0.0
Total 6 100 4 100 2 100

b. Customer accounts receivable financing needs increased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 4 57.1 3 75.0 1 33.3
Somewhat Important 3 42.9 1 25.0 2 66.7
Very Important 0 0.0 0 0.0 0 0.0
Total 7 100 4 100 3 100

c. Customer investment in plant or equipment increased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 3 50.0 3 75.0 0 0.0
Somewhat Important 3 50.0 1 25.0 2 100.0
Very Important 0 0.0 0 0.0 0 0.0
Total 6 100 4 100 2 100

d. Customer internally generated funds decreased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 3 50.0 2 50.0 1 50.0
Somewhat Important 3 50.0 2 50.0 1 50.0
Very Important 0 0.0 0 0.0 0 0.0
Total 6 100 4 100 2 100

e. Customer merger or acquisition financing needs 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 7 100.0 4 100.0 3 100.0
Very Important 0 0.0 0 0.0 0 0.0
Total 7 100 4 100 3 100

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 4 57.1 3 75.0 1 33.3
Somewhat Important 2 28.6 0 0.0 2 66.7
Very Important 1 14.3 1 25.0 0 0.0
Total 7 100 4 100 3 100

g. Customer precautionary demand for cash and liquidity increased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 3 42.9 3 75.0 0 0.0
Somewhat Important 3 42.9 1 25.0 2 66.7
Very Important 1 14.3 0 0.0 1 33.3
Total 7 100 4 100 3 100

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 33.3 2 25.0 8 36.4
Somewhat Important 18 60.0 6 75.0 12 54.5
Very Important 2 6.7 0 0.0 2 9.1
Total 30 100 8 100 22 100

b. Customer accounts receivable financing needs decreased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 13 43.3 4 50.0 9 40.9
Somewhat Important 17 56.7 4 50.0 13 59.1
Very Important 0 0.0 0 0.0 0 0.0
Total 30 100 8 100 22 100

c. Customer investment in plant or equipment decreased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 3 10.0 1 12.5 2 9.1
Somewhat Important 18 60.0 7 87.5 11 50.0
Very Important 9 30.0 0 0.0 9 40.9
Total 30 100 8 100 22 100

d. Customer internally generated funds increased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 21 70.0 8 100.0 13 59.1
Somewhat Important 9 30.0 0 0.0 9 40.9
Very Important 0 0.0 0 0.0 0 0.0
Total 30 100 8 100 22 100

e. Customer merger or acquisition financing needs decreased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 14 46.7 5 62.5 9 40.9
Somewhat Important 10 33.3 3 37.5 7 31.8
Very Important 6 20.0 0 0.0 6 27.3
Total 30 100 8 100 22 100

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 19 65.5 6 75.0 13 61.9
Somewhat Important 8 27.6 2 25.0 6 28.6
Very Important 2 6.9 0 0.0 2 9.5
Total 29 100 8 100 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 14 48.3 5 62.5 9 42.9
Somewhat Important 14 48.3 3 37.5 11 52.4
Very Important 1 3.4 0 0.0 1 4.8
Total 29 100 8 100 21 100

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 0 0.0 0 0.0 0 0.0
The number of inquiries has increased moderately 9 15.3 4 18.2 5 13.5
The number of inquiries has stayed about the same 24 40.7 13 59.1 11 29.7
The number of inquiries has decreased moderately 20 33.9 4 18.2 16 43.2
The number of inquiries has decreased substantially 6 10.2 1 4.5 5 13.5
Total 59 100 22 100 37 100

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 11 19.3 0 0.0 11 29.7
Tightened somewhat 26 45.6 9 45.0 17 45.9
Remained basically unchanged 20 35.1 11 55.0 9 24.3
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 20 100 37 100

For this question, 3 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 7 12.1 0 0.0 7 18.9
Tightened somewhat 32 55.2 10 47.6 22 59.5
Remained basically unchanged 19 32.8 11 52.4 8 21.6
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 58 100 21 100 37 100

For this question, 2 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 5 8.6 0 0.0 5 13.5
Tightened somewhat 33 56.9 10 47.6 23 62.2
Remained basically unchanged 20 34.5 11 52.4 9 24.3
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 58 100 21 100 37 100

For this question, 2 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 1.8 0 0.0 1 2.7
Moderately stronger 3 5.3 0 0.0 3 8.1
About the same 19 33.3 7 35.0 12 32.4
Moderately weaker 23 40.4 9 45.0 14 37.8
Substantially weaker 11 19.3 4 20.0 7 18.9
Total 57 100 20 100 37 100

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 2 3.4 0 0.0 2 5.4
Moderately stronger 2 3.4 2 9.5 0 0.0
About the same 21 36.2 6 28.6 15 40.5
Moderately weaker 26 44.8 12 57.1 14 37.8
Substantially weaker 7 12.1 1 4.8 6 16.2
Total 58 100 21 100 37 100

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 3 5.2 1 4.8 2 5.4
About the same 20 34.5 6 28.6 14 37.8
Moderately weaker 28 48.3 13 61.9 15 40.5
Substantially weaker 7 12.1 1 4.8 6 16.2
Total 58 100 21 100 37 100

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 0 0.0 0 0.0 0 0.0
Tightened somewhat 6 12.0 2 11.8 4 12.1
Remained basically unchanged 43 86.0 14 82.4 29 87.9
Eased somewhat 1 2.0 1 5.9 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 50 100 17 100 33 100

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 0 0.0 0 0.0 0 0.0
Tightened somewhat 2 4.2 0 0.0 2 6.1
Remained basically unchanged 45 93.8 14 93.3 31 93.9
Eased somewhat 1 2.1 1 6.7 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 48 100 15 100 33 100

For this question, 9 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 0 0.0 0 0.0 0 0.0
Tightened somewhat 8 16.3 1 5.9 7 21.9
Remained basically unchanged 40 81.6 16 94.1 24 75.0
Eased somewhat 1 2.0 0 0.0 1 3.1
Eased considerably 0 0.0 0 0.0 0 0.0
Total 49 100 17 100 32 100

For this question, 9 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 1 2.0 0 0.0 1 3.1
Tightened somewhat 12 24.0 4 22.2 8 25.0
Remained basically unchanged 37 74.0 14 77.8 23 71.9
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 50 100 18 100 32 100

For this question, 6 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 2 4.3 0 0.0 2 6.9
Tightened somewhat 9 19.6 3 17.6 6 20.7
Remained basically unchanged 35 76.1 14 82.4 21 72.4
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 17 100 29 100

For this question, 11 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 2 4.5 0 0.0 2 6.9
Tightened somewhat 7 15.9 1 6.7 6 20.7
Remained basically unchanged 35 79.5 14 93.3 21 72.4
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 44 100 15 100 29 100

For this question, 13 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 1 14.3 0 0.0 1 14.3
Tightened somewhat 0 0.0 0 0.0 0 0.0
Remained basically unchanged 6 85.7 0 0.0 6 85.7
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 0 7 100

For this question, 50 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 0 0.0 0 0.0 0 0.0
Moderately stronger 4 8.2 1 5.9 3 9.4
About the same 15 30.6 9 52.9 6 18.8
Moderately weaker 21 42.9 5 29.4 16 50.0
Substantially weaker 9 18.4 2 11.8 7 21.9
Total 49 100 17 100 32 100

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 1 2.1 1 6.7 0 0.0
Moderately stronger 3 6.2 0 0.0 3 9.1
About the same 19 39.6 9 60.0 10 30.3
Moderately weaker 16 33.3 3 20.0 13 39.4
Substantially weaker 9 18.8 2 13.3 7 21.2
Total 48 100 15 100 33 100

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 0 0.0 0 0.0 0 0.0
Moderately stronger 1 2.0 0 0.0 1 3.1
About the same 20 40.8 10 58.8 10 31.2
Moderately weaker 20 40.8 5 29.4 15 46.9
Substantially weaker 8 16.3 2 11.8 6 18.8
Total 49 100 17 100 32 100

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 0 0.0 0 0.0 0 0.0
Moderately stronger 1 2.0 0 0.0 1 3.1
About the same 21 42.0 11 61.1 10 31.2
Moderately weaker 18 36.0 5 27.8 13 40.6
Substantially weaker 10 20.0 2 11.1 8 25.0
Total 50 100 18 100 32 100

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 0 0.0 0 0.0 0 0.0
Moderately stronger 1 2.2 0 0.0 1 3.4
About the same 16 34.8 10 58.8 6 20.7
Moderately weaker 18 39.1 4 23.5 14 48.3
Substantially weaker 11 23.9 3 17.6 8 27.6
Total 46 100 17 100 29 100

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 0 0.0 0 0.0 0 0.0
Moderately stronger 1 2.3 0 0.0 1 3.4
About the same 16 36.4 10 66.7 6 20.7
Moderately weaker 19 43.2 3 20.0 16 55.2
Substantially weaker 8 18.2 2 13.3 6 20.7
Total 44 100 15 100 29 100

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 0.0 0 0.0
Moderately stronger 0 0.0 0 0.0 0 0.0
About the same 2 28.6 0 0.0 2 28.6
Moderately weaker 2 28.6 0 0.0 2 28.6
Substantially weaker 3 42.9 0 0.0 3 42.9
Total 7 100 0 0 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 1 2.2 0 0.0 1 3.1
Tightened somewhat 9 19.6 3 21.4 6 18.8
Remained basically unchanged 36 78.3 11 78.6 25 78.1
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 14 100 32 100

For this question, 11 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 1 2.2 1 7.1 0 0.0
About the same 31 67.4 11 78.6 20 62.5
Moderately weaker 10 21.7 1 7.1 9 28.1
Substantially weaker 4 8.7 1 7.1 3 9.4
Total 46 100 14 100 32 100

Questions 17-26 ask about consumer lending at your bank. Question 17 deals with changes in your bank's willingness to make consumer installment 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. (This question covers the range of consumer installment loans defined as consumer loans with a set number of scheduled payments, such as auto loans, student loans, and personal loans. It does not cover credit cards and other types of revolving credit, nor mortgages, which are included under the residential real estate questions.)

 

  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 2 3.7 2 10.0 0 0.0
About unchanged 39 72.2 12 60.0 27 79.4
Somewhat less willing 13 24.1 6 30.0 7 20.6
Much less willing 0 0.0 0 0.0 0 0.0
Total 54 100 20 100 34 100

For this question, 5 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 1 2.2 1 4.8 0 0.0
Tightened somewhat 14 31.1 8 38.1 6 25.0
Remained basically unchanged 28 62.2 11 52.4 17 70.8
Eased somewhat 2 4.4 1 4.8 1 4.2
Eased considerably 0 0.0 0 0.0 0 0.0
Total 45 100 21 100 24 100

For this question, 14 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 1 2.1 1 6.2 0 0.0
Tightened somewhat 7 14.6 4 25.0 3 9.4
Remained basically unchanged 39 81.2 10 62.5 29 90.6
Eased somewhat 1 2.1 1 6.2 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 48 100 16 100 32 100

For this question, 11 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 1 2.0 1 5.9 0 0.0
Tightened somewhat 14 27.5 6 35.3 8 23.5
Remained basically unchanged 36 70.6 10 58.8 26 76.5
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 51 100 17 100 34 100

For this question, 8 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 1 2.3 0 0.0 1 4.3
Tightened somewhat 9 20.5 4 19.0 5 21.7
Remained basically unchanged 34 77.3 17 81.0 17 73.9
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 44 100 21 100 23 100

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 7 15.9 2 9.5 5 21.7
Remained basically unchanged 37 84.1 19 90.5 18 78.3
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 44 100 21 100 23 100

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 2 4.5 1 4.8 1 4.3
Remained basically unchanged 42 95.5 20 95.2 22 95.7
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 44 100 21 100 23 100

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 0 0.0 0 0.0 0 0.0
Tightened somewhat 7 16.3 5 23.8 2 9.1
Remained basically unchanged 36 83.7 16 76.2 20 90.9
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 43 100 21 100 22 100

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 1 2.3 1 4.8 0 0.0
Tightened somewhat 9 20.5 2 9.5 7 30.4
Remained basically unchanged 34 77.3 18 85.7 16 69.6
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 44 100 21 100 23 100

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 0 0.0 0 0.0 0 0.0
Tightened somewhat 2 4.2 0 0.0 2 6.2
Remained basically unchanged 46 95.8 16 100.0 30 93.8
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 48 100 16 100 32 100

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 2.1 0 0.0 1 3.1
Tightened somewhat 12 25.0 4 25.0 8 25.0
Remained basically unchanged 33 68.8 10 62.5 23 71.9
Eased somewhat 2 4.2 2 12.5 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 48 100 16 100 32 100

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 2 4.2 0 0.0 2 6.2
Remained basically unchanged 45 93.8 16 100.0 29 90.6
Eased somewhat 1 2.1 0 0.0 1 3.1
Eased considerably 0 0.0 0 0.0 0 0.0
Total 48 100 16 100 32 100

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 0 0.0 0 0.0 0 0.0
Tightened somewhat 4 8.3 1 6.2 3 9.4
Remained basically unchanged 43 89.6 15 93.8 28 87.5
Eased somewhat 1 2.1 0 0.0 1 3.1
Eased considerably 0 0.0 0 0.0 0 0.0
Total 48 100 16 100 32 100

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 1 2.1 1 6.7 0 0.0
Tightened somewhat 7 14.9 0 0.0 7 21.9
Remained basically unchanged 39 83.0 14 93.3 25 78.1
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 47 100 15 100 32 100

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 2 4.0 0 0.0 2 5.9
Remained basically unchanged 47 94.0 15 93.8 32 94.1
Eased somewhat 1 2.0 1 6.2 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 50 100 16 100 34 100

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 13 26.0 4 25.0 9 26.5
Remained basically unchanged 37 74.0 12 75.0 25 73.5
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 50 100 16 100 34 100

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 3 6.1 0 0.0 3 8.8
Remained basically unchanged 46 93.9 15 100.0 31 91.2
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 49 100 15 100 34 100

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 0 0.0 0 0.0 0 0.0
Tightened somewhat 11 22.0 5 31.2 6 17.6
Remained basically unchanged 39 78.0 11 68.8 28 82.4
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 50 100 16 100 34 100

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 1 2.0 1 6.2 0 0.0
Tightened somewhat 12 24.0 3 18.8 9 26.5
Remained basically unchanged 37 74.0 12 75.0 25 73.5
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 50 100 16 100 34 100

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 5 11.4 2 10.0 3 12.5
About the same 30 68.2 14 70.0 16 66.7
Moderately weaker 9 20.5 4 20.0 5 20.8
Substantially weaker 0 0.0 0 0.0 0 0.0
Total 44 100 20 100 24 100

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 0 0.0 0 0.0 0 0.0
Moderately stronger 2 4.4 0 0.0 2 6.7
About the same 30 66.7 12 80.0 18 60.0
Moderately weaker 11 24.4 3 20.0 8 26.7
Substantially weaker 2 4.4 0 0.0 2 6.7
Total 45 100 15 100 30 100

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 2 4.0 1 6.2 1 2.9
About the same 33 66.0 11 68.8 22 64.7
Moderately weaker 14 28.0 4 25.0 10 29.4
Substantially weaker 1 2.0 0 0.0 1 2.9
Total 50 100 16 100 34 100

This first special question, Question 27, asks about the reasons why your bank changed lending standards over the past three months.

27. If your bank tightened or eased lending standards or terms over the past three months for any of the following loan categories: C&I, CRE, residential real estate, or consumer loans, how important are the following possible reasons for the change? (Please respond to either A, B or both as appropriate.)

A. Possible reasons for tightening lending standards:

a. Less favorable or more uncertain economic outlook

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 1 1.9 0 0.0 1 2.9
Somewhat important 33 61.1 11 57.9 22 62.9
Very important 20 37.0 8 42.1 12 34.3
Total 54 100 19 100 35 100

b. Deterioration in, or desire to improve, your bank's capital position

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 28 51.9 9 47.4 19 54.3
Somewhat important 17 31.5 8 42.1 9 25.7
Very important 9 16.7 2 10.5 7 20.0
Total 54 100 19 100 35 100

c. Deterioration in, or desire to improve, your bank's liquidity position

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 26 48.1 12 63.2 14 40.0
Somewhat important 17 31.5 6 31.6 11 31.4
Very important 11 20.4 1 5.3 10 28.6
Total 54 100 19 100 35 100

d. Deterioration in customers' collateral values

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 19 35.2 8 42.1 11 31.4
Somewhat important 31 57.4 9 47.4 22 62.9
Very important 4 7.4 2 10.5 2 5.7
Total 54 100 19 100 35 100

e. Less aggressive competition from other banks or nonbank lenders

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 30 55.6 13 68.4 17 48.6
Somewhat important 22 40.7 5 26.3 17 48.6
Very important 2 3.7 1 5.3 1 2.9
Total 54 100 19 100 35 100

f. Reduced tolerance for risk

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 16 29.6 4 21.1 12 34.3
Somewhat important 32 59.3 13 68.4 19 54.3
Very important 6 11.1 2 10.5 4 11.4
Total 54 100 19 100 35 100

g. Increased difficulty of selling loans in the secondary market

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 35 64.8 12 63.2 23 65.7
Somewhat important 18 33.3 7 36.8 11 31.4
Very important 1 1.9 0 0.0 1 2.9
Total 54 100 19 100 35 100

h. Deterioration in credit quality of commercial real estate loans

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 18 33.3 8 42.1 10 28.6
Somewhat important 25 46.3 7 36.8 18 51.4
Very important 11 20.4 4 21.1 7 20.0
Total 54 100 19 100 35 100

i. Deterioration in credit quality of loans other than commercial real estate loans

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 24 44.4 6 31.6 18 51.4
Somewhat important 25 46.3 9 47.4 16 45.7
Very important 5 9.3 4 21.1 1 2.9
Total 54 100 19 100 35 100

j. Increased concerns about deposit outflows at your bank

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 26 48.1 14 73.7 12 34.3
Somewhat important 23 42.6 5 26.3 18 51.4
Very important 5 9.3 0 0.0 5 14.3
Total 54 100 19 100 35 100

k. Increased concerns about declines in the market value of your bank's fixed-income assets

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 46 85.2 19 100.0 27 77.1
Somewhat important 6 11.1 0 0.0 6 17.1
Very important 2 3.7 0 0.0 2 5.7
Total 54 100 19 100 35 100

l. Increased concerns about your bank's funding costs

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 18 33.3 11 57.9 7 20.0
Somewhat important 27 50.0 7 36.8 20 57.1
Very important 9 16.7 1 5.3 8 22.9
Total 54 100 19 100 35 100

m. Increased concerns about the adverse 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 24 46.2 8 44.4 16 47.1
Somewhat important 21 40.4 7 38.9 14 41.2
Very important 7 13.5 3 16.7 4 11.8
Total 52 100 18 100 34 100

B. Possible reasons for easing lending standards:

a. More favorable or less uncertain economic outlook

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 11 50.0 0 0.0 11 57.9
Somewhat important 6 27.3 2 66.7 4 21.1
Very important 5 22.7 1 33.3 4 21.1
Total 22 100 3 100 19 100

b. Improvement in your bank's capital position

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 13 61.9 2 66.7 11 61.1
Somewhat important 4 19.0 1 33.3 3 16.7
Very important 4 19.0 0 0.0 4 22.2
Total 21 100 3 100 18 100

c. Improvement in your bank's liquidity position

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 14 66.7 3 100.0 11 61.1
Somewhat important 2 9.5 0 0.0 2 11.1
Very important 5 23.8 0 0.0 5 27.8
Total 21 100 3 100 18 100

d. Improvement in customers' collateral values

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 13 61.9 2 66.7 11 61.1
Somewhat important 8 38.1 1 33.3 7 38.9
Very important 0 0.0 0 0.0 0 0.0
Total 21 100 3 100 18 100

e. More aggressive competition from other banks or nonbank lenders

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 15 71.4 2 66.7 13 72.2
Somewhat important 6 28.6 1 33.3 5 27.8
Very important 0 0.0 0 0.0 0 0.0
Total 21 100 3 100 18 100

f. Increased tolerance for risk

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 14 70.0 2 66.7 12 70.6
Somewhat important 5 25.0 1 33.3 4 23.5
Very important 1 5.0 0 0.0 1 5.9
Total 20 100 3 100 17 100

g. Increased ease of selling loans in the secondary market

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 16 72.7 1 25.0 15 83.3
Somewhat important 5 22.7 3 75.0 2 11.1
Very important 1 4.5 0 0.0 1 5.6
Total 22 100 4 100 18 100

h. Improvement in credit quality of commercial real estate loans

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 11 55.0 1 50.0 10 55.6
Somewhat important 7 35.0 1 50.0 6 33.3
Very important 2 10.0 0 0.0 2 11.1
Total 20 100 2 100 18 100

i. Improvement in credit quality of loans other than commercial real estate loans

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 9 45.0 0 0.0 9 50.0
Somewhat important 10 50.0 2 100.0 8 44.4
Very important 1 5.0 0 0.0 1 5.6
Total 20 100 2 100 18 100

j. Reduced concerns about deposit outflows at your bank

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 13 61.9 3 100.0 10 55.6
Somewhat important 2 9.5 0 0.0 2 11.1
Very important 6 28.6 0 0.0 6 33.3
Total 21 100 3 100 18 100

k. Reduced concerns about declines in the market value of your bank's fixed-income assets

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 15 71.4 3 100.0 12 66.7
Somewhat important 5 23.8 0 0.0 5 27.8
Very important 1 4.8 0 0.0 1 5.6
Total 21 100 3 100 18 100

l. Reduced concerns about your bank's funding costs

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 12 57.1 3 100.0 9 50.0
Somewhat important 7 33.3 0 0.0 7 38.9
Very important 2 9.5 0 0.0 2 11.1
Total 21 100 3 100 18 100

m. Reduced concerns about the adverse 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 13 61.9 2 66.7 11 61.1
Somewhat important 6 28.6 1 33.3 5 27.8
Very important 2 9.5 0 0.0 2 11.1
Total 21 100 3 100 18 100

This second set of special questions, Questions 28 and 29, asks about changes in your bank's likelihood of approving applications for credit card accounts and auto loans by borrowers' credit score.

28. In comparison to the beginning of the year, how much more or less likely is your bank to currently approve an application for a credit card to a borrower with the stated FICO score (or equivalent)? In each case, assume that all other borrower characteristics are typical for credit card applications with that FICO score (or equivalent).

A. A borrower with a FICO score (or equivalent) of 620:

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Much more likely 0 0.0 0 0.0 0 0.0
Somewhat more likely 0 0.0 0 0.0 0 0.0
About as likely 16 57.1 6 46.2 10 66.7
Somewhat less likely 9 32.1 6 46.2 3 20.0
Much less likely 3 10.7 1 7.7 2 13.3
Total 28 100 13 100 15 100

For this question, 30 respondents answered "My bank does not originate credit card loans to these borrowers"

B. A borrower with a FICO score (or equivalent) of 680:

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Much more likely 0 0.0 0 0.0 0 0.0
Somewhat more likely 0 0.0 0 0.0 0 0.0
About as likely 36 85.7 17 89.5 19 82.6
Somewhat less likely 5 11.9 2 10.5 3 13.0
Much less likely 1 2.4 0 0.0 1 4.3
Total 42 100 19 100 23 100

For this question, 16 respondents answered "My bank does not originate credit card loans to these borrowers"

C. A borrower with a FICO score (or equivalent) of 720:

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Much more likely 1 2.2 0 0.0 1 4.0
Somewhat more likely 4 8.9 2 10.0 2 8.0
About as likely 38 84.4 16 80.0 22 88.0
Somewhat less likely 2 4.4 2 10.0 0 0.0
Much less likely 0 0.0 0 0.0 0 0.0
Total 45 100 20 100 25 100

For this question, 13 respondents answered "My bank does not originate credit card loans to these borrowers"

29. In comparison to the beginning of the year, how much less or more likely is your bank to currently approve an application for an auto loan to a borrower with the stated FICO score (or equivalent)? In each case assume that all other borrower characteristics are typical for auto loan applications with that FICO score (or equivalent).

A. A borrower with a FICO score (or equivalent) of 620:

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Much more likely 0 0.0 0 0.0 0 0.0
Somewhat more likely 1 3.2 1 10.0 0 0.0
About as likely 19 61.3 6 60.0 13 61.9
Somewhat less likely 6 19.4 2 20.0 4 19.0
Much less likely 5 16.1 1 10.0 4 19.0
Total 31 100 10 100 21 100

For this question, 25 respondents answered "My bank does not originate auto loans to these borrowers"

B. A borrower with a FICO score (or equivalent) of 680:

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Much more likely 0 0.0 0 0.0 0 0.0
Somewhat more likely 0 0.0 0 0.0 0 0.0
About as likely 33 75.0 10 66.7 23 79.3
Somewhat less likely 7 15.9 4 26.7 3 10.3
Much less likely 4 9.1 1 6.7 3 10.3
Total 44 100 15 100 29 100

For this question, 12 respondents answered "My bank does not originate auto loans to these borrowers"

C. A borrower with a FICO score (or equivalent) of 720:

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Much more likely 1 2.3 0 0.0 1 3.4
Somewhat more likely 1 2.3 0 0.0 1 3.4
About as likely 38 86.4 12 80.0 26 89.7
Somewhat less likely 4 9.1 3 20.0 1 3.4
Much less likely 0 0.0 0 0.0 0 0.0
Total 44 100 15 100 29 100

For this question, 12 respondents answered "My bank does not originate auto loans to these borrowers"

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 $100 billion or more as of June 30, 2023. The combined assets of the 24 large banks totaled $13.3 trillion, compared to $14.5 trillion for the entire panel of 62 banks, and $20.2 trillion for all domestically chartered, federally insured commercial banks. Return to text

Back to Top
Last Update: November 06, 2023