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  4. The October 2024 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 October 2024)

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 1 1.6 0 0.0 1 2.6
Tightened somewhat 4 6.5 1 4.2 3 7.9
Remained basically unchanged 52 83.9 22 91.7 30 78.9
Eased somewhat 5 8.1 1 4.2 4 10.5
Eased considerably 0 0.0 0 0.0 0 0.0
Total 62 100 24 100 38 100

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 1 1.7 0 0.0 1 2.6
Tightened somewhat 10 16.7 1 4.5 9 23.7
Remained basically unchanged 46 76.7 20 90.9 26 68.4
Eased somewhat 3 5.0 1 4.5 2 5.3
Eased considerably 0 0.0 0 0.0 0 0.0
Total 60 100 22 100 38 100

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 0 0.0 0 0.0 0 0.0
Tightened somewhat 3 4.8 1 4.2 2 5.3
Remained basically unchanged 55 88.7 22 91.7 33 86.8
Eased somewhat 4 6.5 1 4.2 3 7.9
Eased considerably 0 0.0 0 0.0 0 0.0
Total 62 100 24 100 38 100

b. Maximum maturity of loans or credit lines

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 1 1.7 0 0.0 1 2.7
Remained basically unchanged 57 95.0 23 100.0 34 91.9
Eased somewhat 2 3.3 0 0.0 2 5.4
Eased considerably 0 0.0 0 0.0 0 0.0
Total 60 100 23 100 37 100

c. Costs of credit lines

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 5 8.1 0 0.0 5 13.2
Remained basically unchanged 50 80.6 20 83.3 30 78.9
Eased somewhat 7 11.3 4 16.7 3 7.9
Eased considerably 0 0.0 0 0.0 0 0.0
Total 62 100 24 100 38 100

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 0 0.0 0 0.0 0 0.0
Tightened somewhat 7 11.3 2 8.3 5 13.2
Remained basically unchanged 46 74.2 19 79.2 27 71.1
Eased somewhat 9 14.5 3 12.5 6 15.8
Eased considerably 0 0.0 0 0.0 0 0.0
Total 62 100 24 100 38 100

e. Premiums charged on riskier loans

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 1 1.6 1 4.2 0 0.0
Tightened somewhat 7 11.3 1 4.2 6 15.8
Remained basically unchanged 50 80.6 20 83.3 30 78.9
Eased somewhat 4 6.5 2 8.3 2 5.3
Eased considerably 0 0.0 0 0.0 0 0.0
Total 62 100 24 100 38 100

f. Loan covenants

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 4 6.6 0 0.0 4 10.8
Remained basically unchanged 52 85.2 21 87.5 31 83.8
Eased somewhat 5 8.2 3 12.5 2 5.4
Eased considerably 0 0.0 0 0.0 0 0.0
Total 61 100 24 100 37 100

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 3 4.9 0 0.0 3 7.9
Remained basically unchanged 54 88.5 22 95.7 32 84.2
Eased somewhat 4 6.6 1 4.3 3 7.9
Eased considerably 0 0.0 0 0.0 0 0.0
Total 61 100 23 100 38 100

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 1.6 0 0.0 1 2.6
Tightened somewhat 6 9.7 0 0.0 6 15.8
Remained basically unchanged 52 83.9 23 95.8 29 76.3
Eased somewhat 3 4.8 1 4.2 2 5.3
Eased considerably 0 0.0 0 0.0 0 0.0
Total 62 100 24 100 38 100

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 0 0.0 0 0.0 0 0.0
Tightened somewhat 5 8.3 1 4.5 4 10.5
Remained basically unchanged 53 88.3 20 90.9 33 86.8
Eased somewhat 2 3.3 1 4.5 1 2.6
Eased considerably 0 0.0 0 0.0 0 0.0
Total 60 100 22 100 38 100

b. Maximum maturity of loans or credit lines

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 3 5.2 0 0.0 3 8.3
Remained basically unchanged 54 93.1 22 100.0 32 88.9
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

c. Costs of credit lines

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 6 10.3 0 0.0 6 16.2
Remained basically unchanged 48 82.8 19 90.5 29 78.4
Eased somewhat 4 6.9 2 9.5 2 5.4
Eased considerably 0 0.0 0 0.0 0 0.0
Total 58 100 21 100 37 100

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 0 0.0 0 0.0 0 0.0
Tightened somewhat 8 13.6 2 9.1 6 16.2
Remained basically unchanged 46 78.0 19 86.4 27 73.0
Eased somewhat 5 8.5 1 4.5 4 10.8
Eased considerably 0 0.0 0 0.0 0 0.0
Total 59 100 22 100 37 100

e. Premiums charged on riskier loans

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 1 1.7 1 4.8 0 0.0
Tightened somewhat 8 13.6 2 9.5 6 15.8
Remained basically unchanged 47 79.7 17 81.0 30 78.9
Eased somewhat 3 5.1 1 4.8 2 5.3
Eased considerably 0 0.0 0 0.0 0 0.0
Total 59 100 21 100 38 100

f. Loan covenants

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 6 10.2 0 0.0 6 16.2
Remained basically unchanged 52 88.1 22 100.0 30 81.1
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

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 7 12.3 0 0.0 7 20.0
Remained basically unchanged 48 84.2 22 100.0 26 74.3
Eased somewhat 2 3.5 0 0.0 2 5.7
Eased considerably 0 0.0 0 0.0 0 0.0
Total 57 100 22 100 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 1 1.8 0 0.0 1 2.8
Tightened somewhat 2 3.5 0 0.0 2 5.6
Remained basically unchanged 51 89.5 20 95.2 31 86.1
Eased somewhat 2 3.5 0 0.0 2 5.6
Eased considerably 1 1.8 1 4.8 0 0.0
Total 57 100 21 100 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 the following possible reasons been 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 13 72.2 2 50.0 11 78.6
Somewhat Important 4 22.2 1 25.0 3 21.4
Very Important 1 5.6 1 25.0 0 0.0
Total 18 100 4 100 14 100

b. Less favorable or more uncertain economic outlook

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 5 29.4 1 25.0 4 30.8
Somewhat Important 7 41.2 2 50.0 5 38.5
Very Important 5 29.4 1 25.0 4 30.8
Total 17 100 4 100 13 100

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

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 5 31.2 1 25.0 4 33.3
Somewhat Important 9 56.2 3 75.0 6 50.0
Very Important 2 12.5 0 0.0 2 16.7
Total 16 100 4 100 12 100

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 14 77.8 4 100.0 10 71.4
Somewhat Important 4 22.2 0 0.0 4 28.6
Very Important 0 0.0 0 0.0 0 0.0
Total 18 100 4 100 14 100

e. Reduced tolerance for risk

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 5 27.8 1 25.0 4 28.6
Somewhat Important 11 61.1 3 75.0 8 57.1
Very Important 2 11.1 0 0.0 2 14.3
Total 18 100 4 100 14 100

f. Decreased liquidity in the secondary market for these loans

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 14 77.8 4 100.0 10 71.4
Somewhat Important 3 16.7 0 0.0 3 21.4
Very Important 1 5.6 0 0.0 1 7.1
Total 18 100 4 100 14 100

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 15 83.3 4 100.0 11 78.6
Somewhat Important 2 11.1 0 0.0 2 14.3
Very Important 1 5.6 0 0.0 1 7.1
Total 18 100 4 100 14 100

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 11 61.1 3 75.0 8 57.1
Somewhat Important 5 27.8 1 25.0 4 28.6
Very Important 2 11.1 0 0.0 2 14.3
Total 18 100 4 100 14 100

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

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

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 8 66.7 3 75.0 5 62.5
Somewhat Important 4 33.3 1 25.0 3 37.5
Very Important 0 0.0 0 0.0 0 0.0
Total 12 100 4 100 8 100

b. More favorable or less uncertain economic outlook

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 7 58.3 2 50.0 5 62.5
Somewhat Important 3 25.0 1 25.0 2 25.0
Very Important 2 16.7 1 25.0 1 12.5
Total 12 100 4 100 8 100

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

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 9 75.0 2 50.0 7 87.5
Somewhat Important 3 25.0 2 50.0 1 12.5
Very Important 0 0.0 0 0.0 0 0.0
Total 12 100 4 100 8 100

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

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 0 0.0 0 0.0 0 0.0
Somewhat Important 5 41.7 1 25.0 4 50.0
Very Important 7 58.3 3 75.0 4 50.0
Total 12 100 4 100 8 100

e. Increased tolerance for risk

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 9 75.0 3 75.0 6 75.0
Somewhat Important 3 25.0 1 25.0 2 25.0
Very Important 0 0.0 0 0.0 0 0.0
Total 12 100 4 100 8 100

f. Increased liquidity in the secondary market for these loans

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 10 90.9 3 100.0 7 87.5
Somewhat Important 1 9.1 0 0.0 1 12.5
Very Important 0 0.0 0 0.0 0 0.0
Total 11 100 3 100 8 100

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

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 9 75.0 3 75.0 6 75.0
Somewhat Important 3 25.0 1 25.0 2 25.0
Very Important 0 0.0 0 0.0 0 0.0
Total 12 100 4 100 8 100

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

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 10 90.9 3 100.0 7 87.5
Somewhat Important 1 9.1 0 0.0 1 12.5
Very Important 0 0.0 0 0.0 0 0.0
Total 11 100 3 100 8 100

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 1 1.6 0 0.0 1 2.7
Moderately stronger 5 8.2 2 8.3 3 8.1
About the same 36 59.0 17 70.8 19 51.4
Moderately weaker 18 29.5 5 20.8 13 35.1
Substantially weaker 1 1.6 0 0.0 1 2.7
Total 61 100 24 100 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 9 15.3 4 18.2 5 13.5
About the same 30 50.8 13 59.1 17 45.9
Moderately weaker 20 33.9 5 22.7 15 40.5
Substantially weaker 0 0.0 0 0.0 0 0.0
Total 59 100 22 100 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 the following possible reasons been 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 4 40.0 1 25.0 3 50.0
Somewhat Important 6 60.0 3 75.0 3 50.0
Very Important 0 0.0 0 0.0 0 0.0
Total 10 100 4 100 6 100

b. Customer accounts receivable financing needs increased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 6 60.0 4 100.0 2 33.3
Somewhat Important 4 40.0 0 0.0 4 66.7
Very Important 0 0.0 0 0.0 0 0.0
Total 10 100 4 100 6 100

c. Customer investment in plant or equipment increased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 4 40.0 1 25.0 3 50.0
Somewhat Important 6 60.0 3 75.0 3 50.0
Very Important 0 0.0 0 0.0 0 0.0
Total 10 100 4 100 6 100

d. Customer internally generated funds decreased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 8 80.0 3 75.0 5 83.3
Somewhat Important 2 20.0 1 25.0 1 16.7
Very Important 0 0.0 0 0.0 0 0.0
Total 10 100 4 100 6 100

e. Customer merger or acquisition financing needs increased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 3 30.0 1 25.0 2 33.3
Somewhat Important 7 70.0 3 75.0 4 66.7
Very Important 0 0.0 0 0.0 0 0.0
Total 10 100 4 100 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 5 50.0 2 50.0 3 50.0
Somewhat Important 5 50.0 2 50.0 3 50.0
Very Important 0 0.0 0 0.0 0 0.0
Total 10 100 4 100 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 6 60.0 2 50.0 4 66.7
Somewhat Important 4 40.0 2 50.0 2 33.3
Very Important 0 0.0 0 0.0 0 0.0
Total 10 100 4 100 6 100

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 7 35.0 5 83.3 2 14.3
Somewhat Important 13 65.0 1 16.7 12 85.7
Very Important 0 0.0 0 0.0 0 0.0
Total 20 100 6 100 14 100

b. Customer accounts receivable financing needs decreased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 8 40.0 5 83.3 3 21.4
Somewhat Important 12 60.0 1 16.7 11 78.6
Very Important 0 0.0 0 0.0 0 0.0
Total 20 100 6 100 14 100

c. Customer investment in plant or equipment decreased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 3 15.0 2 33.3 1 7.1
Somewhat Important 14 70.0 3 50.0 11 78.6
Very Important 3 15.0 1 16.7 2 14.3
Total 20 100 6 100 14 100

d. Customer internally generated funds increased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 13 65.0 5 83.3 8 57.1
Somewhat Important 7 35.0 1 16.7 6 42.9
Very Important 0 0.0 0 0.0 0 0.0
Total 20 100 6 100 14 100

e. Customer merger or acquisition financing needs decreased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 8 40.0 3 50.0 5 35.7
Somewhat Important 9 45.0 0 0.0 9 64.3
Very Important 3 15.0 3 50.0 0 0.0
Total 20 100 6 100 14 100

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 14 70.0 4 66.7 10 71.4
Somewhat Important 6 30.0 2 33.3 4 28.6
Very Important 0 0.0 0 0.0 0 0.0
Total 20 100 6 100 14 100

g. Customer precautionary demand for cash and liquidity decreased

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not Important 13 65.0 3 50.0 10 71.4
Somewhat Important 7 35.0 3 50.0 4 28.6
Very Important 0 0.0 0 0.0 0 0.0
Total 20 100 6 100 14 100

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 14.8 4 16.7 5 13.5
The number of inquiries has stayed about the same 36 59.0 17 70.8 19 51.4
The number of inquiries has decreased moderately 16 26.2 3 12.5 13 35.1
The number of inquiries has decreased substantially 0 0.0 0 0.0 0 0.0
Total 61 100 24 100 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 3 4.9 0 0.0 3 7.9
Tightened somewhat 12 19.7 2 8.7 10 26.3
Remained basically unchanged 40 65.6 19 82.6 21 55.3
Eased somewhat 6 9.8 2 8.7 4 10.5
Eased considerably 0 0.0 0 0.0 0 0.0
Total 61 100 23 100 38 100

For this question, 2 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 3 4.9 0 0.0 3 7.9
Tightened somewhat 11 18.0 2 8.7 9 23.7
Remained basically unchanged 43 70.5 20 87.0 23 60.5
Eased somewhat 4 6.6 1 4.3 3 7.9
Eased considerably 0 0.0 0 0.0 0 0.0
Total 61 100 23 100 38 100

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 4 6.6 0 0.0 4 10.5
Tightened somewhat 13 21.3 1 4.3 12 31.6
Remained basically unchanged 39 63.9 19 82.6 20 52.6
Eased somewhat 5 8.2 3 13.0 2 5.3
Eased considerably 0 0.0 0 0.0 0 0.0
Total 61 100 23 100 38 100

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 1.6 1 4.3 0 0.0
Moderately stronger 6 9.8 3 13.0 3 7.9
About the same 38 62.3 14 60.9 24 63.2
Moderately weaker 15 24.6 5 21.7 10 26.3
Substantially weaker 1 1.6 0 0.0 1 2.6
Total 61 100 23 100 38 100

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 8 13.1 5 21.7 3 7.9
About the same 39 63.9 13 56.5 26 68.4
Moderately weaker 13 21.3 5 21.7 8 21.1
Substantially weaker 1 1.6 0 0.0 1 2.6
Total 61 100 23 100 38 100

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 9 14.8 5 21.7 4 10.5
About the same 38 62.3 15 65.2 23 60.5
Moderately weaker 13 21.3 3 13.0 10 26.3
Substantially weaker 1 1.6 0 0.0 1 2.6
Total 61 100 23 100 38 100

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 1 1.8 0 0.0 1 2.6
Remained basically unchanged 53 96.4 16 94.1 37 97.4
Eased somewhat 1 1.8 1 5.9 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 55 100 17 100 38 100

For this question, 6 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 1 2.0 0 0.0 1 2.9
Remained basically unchanged 48 98.0 14 100.0 34 97.1
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 49 100 14 100 35 100

For this question, 12 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 1 1.9 0 0.0 1 2.8
Remained basically unchanged 51 96.2 16 94.1 35 97.2
Eased somewhat 1 1.9 1 5.9 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 53 100 17 100 36 100

For this question, 8 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 0 0.0 0 0.0 0 0.0
Tightened somewhat 3 5.6 1 5.3 2 5.7
Remained basically unchanged 50 92.6 17 89.5 33 94.3
Eased somewhat 1 1.9 1 5.3 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 54 100 19 100 35 100

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 0 0.0 0 0.0 0 0.0
Tightened somewhat 3 6.4 0 0.0 3 10.0
Remained basically unchanged 43 91.5 16 94.1 27 90.0
Eased somewhat 1 2.1 1 5.9 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 47 100 17 100 30 100

For this question, 15 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 0 0.0 0 0.0 0 0.0
Tightened somewhat 2 4.7 0 0.0 2 6.9
Remained basically unchanged 40 93.0 14 100.0 26 89.7
Eased somewhat 1 2.3 0 0.0 1 3.4
Eased considerably 0 0.0 0 0.0 0 0.0
Total 43 100 14 100 29 100

For this question, 19 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 6.2 0 0.0 1 7.7
Tightened somewhat 1 6.2 1 33.3 0 0.0
Remained basically unchanged 14 87.5 2 66.7 12 92.3
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 16 100 3 100 13 100

For this question, 46 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 12 21.8 3 17.6 9 23.7
About the same 33 60.0 11 64.7 22 57.9
Moderately weaker 10 18.2 3 17.6 7 18.4
Substantially weaker 0 0.0 0 0.0 0 0.0
Total 55 100 17 100 38 100

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 0 0.0 0 0.0 0 0.0
Moderately stronger 5 10.2 1 7.1 4 11.4
About the same 34 69.4 11 78.6 23 65.7
Moderately weaker 10 20.4 2 14.3 8 22.9
Substantially weaker 0 0.0 0 0.0 0 0.0
Total 49 100 14 100 35 100

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 8 14.8 3 16.7 5 13.9
About the same 38 70.4 13 72.2 25 69.4
Moderately weaker 6 11.1 1 5.6 5 13.9
Substantially weaker 2 3.7 1 5.6 1 2.8
Total 54 100 18 100 36 100

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 8 14.5 4 21.1 4 11.1
About the same 35 63.6 12 63.2 23 63.9
Moderately weaker 9 16.4 2 10.5 7 19.4
Substantially weaker 3 5.5 1 5.3 2 5.6
Total 55 100 19 100 36 100

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 7 14.9 3 17.6 4 13.3
About the same 31 66.0 12 70.6 19 63.3
Moderately weaker 9 19.1 2 11.8 7 23.3
Substantially weaker 0 0.0 0 0.0 0 0.0
Total 47 100 17 100 30 100

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 4 9.3 2 14.3 2 6.9
About the same 32 74.4 12 85.7 20 69.0
Moderately weaker 7 16.3 0 0.0 7 24.1
Substantially weaker 0 0.0 0 0.0 0 0.0
Total 43 100 14 100 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 11 73.3 2 66.7 9 75.0
Moderately weaker 3 20.0 0 0.0 3 25.0
Substantially weaker 1 6.7 1 33.3 0 0.0
Total 15 100 3 100 12 100

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 0 0.0 0 0.0 0 0.0
Tightened somewhat 1 1.9 0 0.0 1 2.7
Remained basically unchanged 50 96.2 14 93.3 36 97.3
Eased somewhat 1 1.9 1 6.7 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100 15 100 37 100

For this question, 10 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 1 2.0 0 0.0 1 2.8
Moderately stronger 6 11.8 1 6.7 5 13.9
About the same 38 74.5 12 80.0 26 72.2
Moderately weaker 6 11.8 2 13.3 4 11.1
Substantially weaker 0 0.0 0 0.0 0 0.0
Total 51 100 15 100 36 100

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 5 8.9 3 15.0 2 5.6
About unchanged 47 83.9 15 75.0 32 88.9
Somewhat less willing 4 7.1 2 10.0 2 5.6
Much less willing 0 0.0 0 0.0 0 0.0
Total 56 100 20 100 36 100

For this question, 6 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 2.0 0 0.0 1 3.4
Tightened somewhat 8 16.3 5 25.0 3 10.3
Remained basically unchanged 40 81.6 15 75.0 25 86.2
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 20 100 29 100

For this question, 13 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 0 0.0 0 0.0 0 0.0
Tightened somewhat 4 8.2 0 0.0 4 12.1
Remained basically unchanged 43 87.8 15 93.8 28 84.8
Eased somewhat 2 4.1 1 6.2 1 3.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 49 100 16 100 33 100

For this question, 13 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 0 0.0 0 0.0 0 0.0
Tightened somewhat 3 5.7 2 12.5 1 2.7
Remained basically unchanged 48 90.6 13 81.2 35 94.6
Eased somewhat 2 3.8 1 6.2 1 2.7
Eased considerably 0 0.0 0 0.0 0 0.0
Total 53 100 16 100 37 100

For this question, 9 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 0 0.0 0 0.0 0 0.0
Tightened somewhat 7 14.6 4 20.0 3 10.7
Remained basically unchanged 39 81.2 15 75.0 24 85.7
Eased somewhat 2 4.2 1 5.0 1 3.6
Eased considerably 0 0.0 0 0.0 0 0.0
Total 48 100 20 100 28 100

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 2 4.2 0 0.0 2 7.1
Remained basically unchanged 45 93.8 19 95.0 26 92.9
Eased somewhat 1 2.1 1 5.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 48 100 20 100 28 100

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 2.1 1 5.0 0 0.0
Remained basically unchanged 46 95.8 18 90.0 28 100.0
Eased somewhat 1 2.1 1 5.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 48 100 20 100 28 100

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 6 12.8 4 21.1 2 7.1
Remained basically unchanged 40 85.1 14 73.7 26 92.9
Eased somewhat 1 2.1 1 5.3 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 47 100 19 100 28 100

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 0 0.0 0 0.0 0 0.0
Tightened somewhat 3 6.2 1 5.0 2 7.1
Remained basically unchanged 44 91.7 18 90.0 26 92.9
Eased somewhat 1 2.1 1 5.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 48 100 20 100 28 100

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 0 0.0 0 0.0 0 0.0
Remained basically unchanged 46 97.9 14 93.3 32 100.0
Eased somewhat 1 2.1 1 6.7 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 47 100 15 100 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 2.2 1 6.7 0 0.0
Tightened somewhat 6 13.0 2 13.3 4 12.9
Remained basically unchanged 35 76.1 11 73.3 24 77.4
Eased somewhat 4 8.7 1 6.7 3 9.7
Eased considerably 0 0.0 0 0.0 0 0.0
Total 46 100 15 100 31 100

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 1 2.1 0 0.0 1 3.1
Remained basically unchanged 45 95.7 14 93.3 31 96.9
Eased somewhat 1 2.1 1 6.7 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 47 100 15 100 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 1 2.1 0 0.0 1 3.1
Remained basically unchanged 46 97.9 15 100.0 31 96.9
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

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

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 2 4.3 0 0.0 2 6.2
Remained basically unchanged 44 93.6 15 100.0 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 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 0 0.0 0 0.0 0 0.0
Remained basically unchanged 49 96.1 14 87.5 35 100.0
Eased somewhat 2 3.9 2 12.5 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 51 100 16 100 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 0 0.0 0 0.0 0 0.0
Tightened somewhat 3 5.9 1 6.2 2 5.7
Remained basically unchanged 44 86.3 13 81.2 31 88.6
Eased somewhat 4 7.8 2 12.5 2 5.7
Eased considerably 0 0.0 0 0.0 0 0.0
Total 51 100 16 100 35 100

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 0 0.0 0 0.0 0 0.0
Remained basically unchanged 49 98.0 14 93.3 35 100.0
Eased somewhat 1 2.0 1 6.7 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 50 100 15 100 35 100

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 1 2.0 0 0.0 1 2.9
Remained basically unchanged 47 94.0 15 93.8 32 94.1
Eased somewhat 2 4.0 1 6.2 1 2.9
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 0 0.0 0 0.0 0 0.0
Tightened somewhat 1 2.0 0 0.0 1 2.9
Remained basically unchanged 48 94.1 15 93.8 33 94.3
Eased somewhat 2 3.9 1 6.2 1 2.9
Eased considerably 0 0.0 0 0.0 0 0.0
Total 51 100 16 100 35 100

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 10.4 2 10.0 3 10.7
About the same 37 77.1 16 80.0 21 75.0
Moderately weaker 5 10.4 2 10.0 3 10.7
Substantially weaker 1 2.1 0 0.0 1 3.6
Total 48 100 20 100 28 100

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 4 8.5 4 25.0 0 0.0
About the same 33 70.2 11 68.8 22 71.0
Moderately weaker 10 21.3 1 6.2 9 29.0
Substantially weaker 0 0.0 0 0.0 0 0.0
Total 47 100 16 100 31 100

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 3 5.9 3 18.8 0 0.0
About the same 42 82.4 13 81.2 29 82.9
Moderately weaker 6 11.8 0 0.0 6 17.1
Substantially weaker 0 0.0 0 0.0 0 0.0
Total 51 100 16 100 35 100

This first special question, Question 27, asks which type of credit scoring models are used by your bank in its credit card supply decisions.

27. Bank lending policies have traditionally relied on credit bureau scores, and more recently also on behavioral scores. Please classify the following sources of scores based on their importance for credit card approval decisions at your bank.

 

A. Credit bureau scores (FICO Score 8, VantageScore 3.0, etc.)

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 2 4.0 1 5.0 1 3.3
Somewhat important 11 22.0 3 15.0 8 26.7
Very important 37 74.0 16 80.0 21 70.0
Total 50 100 20 100 30 100

B. Behavioral credit scores from third-party vendors

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 25 51.0 11 55.0 14 48.3
Somewhat important 16 32.7 5 25.0 11 37.9
Very important 8 16.3 4 20.0 4 13.8
Total 49 100 20 100 29 100

C. Internally produced behavioral scores

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 21 43.8 4 20.0 17 60.7
Somewhat important 8 16.7 2 10.0 6 21.4
Very important 19 39.6 14 70.0 5 17.9
Total 48 100 20 100 28 100

This second special question, Question 28, asks about changes in your bank's likelihood of approving credit card applications, by borrowers' credit score. In each case, follow your bank's definition for prime or super-prime, near-prime, and subprime categories according to your preferred model, as reported in question 27.

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

A. Prime and super-prime borrowers (such as those with FICO scores at or above 720):

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Much more likely 3 6.2 0 0.0 3 10.7
Somewhat more likely 6 12.5 1 5.0 5 17.9
About as likely 38 79.2 18 90.0 20 71.4
Somewhat less likely 1 2.1 1 5.0 0 0.0
Much less likely 0 0.0 0 0.0 0 0.0
Total 48 100 20 100 28 100

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

B. Near-prime borrowers (such as those with FICO scores in the 620-719 range):

  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 2 4.2 0 0.0 2 7.1
About as likely 33 68.8 13 65.0 20 71.4
Somewhat less likely 11 22.9 5 25.0 6 21.4
Much less likely 2 4.2 2 10.0 0 0.0
Total 48 100 20 100 28 100

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

C. Subprime borrowers (such as those with FICO scores in the 580-619 range):

  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 3 8.8 1 6.7 2 10.5
About as likely 20 58.8 10 66.7 10 52.6
Somewhat less likely 4 11.8 3 20.0 1 5.3
Much less likely 7 20.6 1 6.7 6 31.6
Total 34 100 15 100 19 100

For this question, 26 respondents answered "My bank does not originate credit card loans to these borrowers"

Questions 29-30 discuss the current level of demand for credit card loans. Question 29 asks about current demand by borrowers' credit score. Question 30 asks about three different mechanisms through which this demand can take place. As before, answer Question 29 following your bank's definition for prime or super-prime, near-prime, and subprime categories according to your preferred model, and assume that all other borrower characteristics are typical for credit card applications with that credit score.

29. How would you describe your bank's current level of demand for credit card loans, compared to the end of 2019, for borrowers in each credit score category?

 

A. Credit card loans or lines of credit to prime and super-prime borrowers (such as those with FICO scores at or above 720)

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Substantially stronger 3 6.1 3 14.3 0 0.0
Somewhat stronger 8 16.3 3 14.3 5 17.9
About the same 33 67.3 11 52.4 22 78.6
Somewhat weaker 4 8.2 3 14.3 1 3.6
Substantially weaker 1 2.0 1 4.8 0 0.0
Total 49 100 21 100 28 100

B. Credit card loans or lines of credit to near-prime borrowers (such as those with FICO scores in the 620-719 range)

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Substantially stronger 3 6.1 2 9.5 1 3.6
Somewhat stronger 6 12.2 3 14.3 3 10.7
About the same 36 73.5 13 61.9 23 82.1
Somewhat weaker 3 6.1 2 9.5 1 3.6
Substantially weaker 1 2.0 1 4.8 0 0.0
Total 49 100 21 100 28 100

C. Credit card loans or lines of credit to subprime borrowers (such as those with FICO scores in the 580-619 range)

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Substantially stronger 1 2.1 1 5.0 0 0.0
Somewhat stronger 5 10.6 3 15.0 2 7.4
About the same 34 72.3 11 55.0 23 85.2
Somewhat weaker 3 6.4 2 10.0 1 3.7
Substantially weaker 4 8.5 3 15.0 1 3.7
Total 47 100 20 100 27 100

30. How would you describe your bank's current level of demand for credit card loans, compared to the end of 2019, for each of the following categories of credit demand?

 

A. Demand for new credit cards

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Substantially stronger 2 4.1 2 9.5 0 0.0
Somewhat stronger 9 18.4 5 23.8 4 14.3
About the same 33 67.3 11 52.4 22 78.6
Somewhat weaker 4 8.2 2 9.5 2 7.1
Substantially weaker 1 2.0 1 4.8 0 0.0
Total 49 100 21 100 28 100

B. Requests for increased credit limits on existing credit cards

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Substantially stronger 2 4.1 1 4.8 1 3.6
Somewhat stronger 7 14.3 4 19.0 3 10.7
About the same 37 75.5 15 71.4 22 78.6
Somewhat weaker 2 4.1 0 0.0 2 7.1
Substantially weaker 1 2.0 1 4.8 0 0.0
Total 49 100 21 100 28 100

C. Utilization of existing credit card limits

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Substantially stronger 1 2.0 1 4.8 0 0.0
Somewhat stronger 10 20.4 2 9.5 8 28.6
About the same 32 65.3 14 66.7 18 64.3
Somewhat weaker 4 8.2 2 9.5 2 7.1
Substantially weaker 2 4.1 2 9.5 0 0.0
Total 49 100 21 100 28 100

Question 31 asks about your bank's outlook for the demand of credit card loans over the next six months compared to current levels, apart from normal seasonal variation. Question 32 asks about the possible reasons behind this outlook. As before, answer Question 31 following your bank's definition for prime or super-prime, near-prime, and subprime categories according to your preferred model, and assume that all other borrower characteristics are typical for credit card applications with that credit score.

31. Assuming that economic activity progresses in line with consensus forecasts, what is your outlook for the demand for credit card loans by credit score over the next six months compared to current levels, apart from normal seasonal variation?

 

A. Prime and super-prime borrowers (such as those with FICO scores at or above 720)

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Strengthen substantially 1 2.0 1 4.8 0 0.0
Strengthen somewhat 7 14.3 3 14.3 4 14.3
Remain about the same 40 81.6 16 76.2 24 85.7
Weaken somewhat 0 0.0 0 0.0 0 0.0
Weaken substantially 1 2.0 1 4.8 0 0.0
Total 49 100 21 100 28 100

B. Near-prime borrowers (such as those with FICO scores in the 620-719 range)

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Strengthen substantially 0 0.0 0 0.0 0 0.0
Strengthen somewhat 13 27.1 7 35.0 6 21.4
Remain about the same 33 68.8 12 60.0 21 75.0
Weaken somewhat 1 2.1 0 0.0 1 3.6
Weaken substantially 1 2.1 1 5.0 0 0.0
Total 48 100 20 100 28 100

C. Subprime borrowers (such as those with FICO scores in the 580-619 range)

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Strengthen substantially 0 0.0 0 0.0 0 0.0
Strengthen somewhat 9 19.1 5 25.0 4 14.8
Remain about the same 35 74.5 13 65.0 22 81.5
Weaken somewhat 1 2.1 1 5.0 0 0.0
Weaken substantially 2 4.3 1 5.0 1 3.7
Total 47 100 20 100 27 100

32. Still assuming that economic activity progresses in line with consensus forecasts, what are the reasons for your outlook for stronger or weaker demand for credit card loans over the next six months, apart from normal seasonal variation? (Please answer this question only if your response to Question 31 was of strengthening or weakening on any credit score category. Please respond to either A, B, or both as appropriate.)

A. Possible reasons for stronger loan demand:

a. Customer income prospects are expected to be more favorable or less uncertain

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 7 58.3 4 57.1 3 60.0
Somewhat important 4 33.3 2 28.6 2 40.0
Very important 1 8.3 1 14.3 0 0.0
Total 12 100 7 100 5 100

b. Customer purchases or spending needs are expected to increase, given prevailing interest rates and terms

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 1 8.3 1 14.3 0 0.0
Somewhat important 8 66.7 3 42.9 5 100.0
Very important 3 25.0 3 42.9 0 0.0
Total 12 100 7 100 5 100

c. Interest rates are expected to decline, strengthening customer demand

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 3 23.1 2 28.6 1 16.7
Somewhat important 8 61.5 3 42.9 5 83.3
Very important 2 15.4 2 28.6 0 0.0
Total 13 100 7 100 6 100

d. More favorable terms, such as lower late fees, are expected to increase customer demand

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 8 66.7 5 71.4 3 60.0
Somewhat important 4 33.3 2 28.6 2 40.0
Very important 0 0.0 0 0.0 0 0.0
Total 12 100 7 100 5 100

e. Lower customer use of their accumulated savings, offset by increased borrowing

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 3 23.1 2 28.6 1 16.7
Somewhat important 9 69.2 4 57.1 5 83.3
Very important 1 7.7 1 14.3 0 0.0
Total 13 100 7 100 6 100

f. Customers are expected to shift borrowing from non-credit card sources of financing

  All Respondents Large Banks Other Banks
Banks Percent Banks Percent Banks Percent
Not important 7 58.3 4 57.1 3 60.0
Somewhat important 5 41.7 3 42.9 2 40.0
Very important 0 0.0 0 0.0 0 0.0
Total 12 100 7 100 5 100

B. Possible reasons for weaker loan demand:

a. Customer income prospects are expected to be less favorable or more uncertain

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

b. Customer purchases or spending needs are expected to decrease, given prevailing interest rates and terms

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

c. Interest rates are expected to increase, weakening customer demand

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

d. Less favorable terms are expected to reduce customer demand

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

e. Higher customer use of their accumulated savings, reducing borrowing needs

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

f. Customers are expected to shift borrowing to non-credit card sources of financing

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

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, 2024. The combined assets of the 25 large banks totaled $13.6 trillion, compared to $15 trillion for the entire panel of 66 banks, and $20.6 trillion for all domestically chartered, federally insured commercial banks. Return to text

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Last Update: November 12, 2024