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pdfDIVISION OF MONETARY AFFAIRS
For release at 2:00 p.m. ET
TO:
May 8, 2018
HEADS OF RESEARCH AT ALL FEDERAL RESERVE BANKS
Enclosed for distribution to respondents is a national summary of the April 2018
Senior Loan Officer Opinion Survey on Bank Lending Practices.
Enclosures:
April 2018 Senior Loan Officer Opinion Survey on Bank Lending Practices
This document is available on the Federal Reserve Board’s web site
(http://www.federalreserve.gov/econresdata/statisticsdata.htm)
The April 2018 Senior Loan Officer Opinion Survey on Bank Lending
Practices
The April 2018 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed
changes in the standards and terms on, and demand for, bank loans to businesses and households
over the past three months, which generally corresponds to the first quarter of 2018. 1 Responses
were received from 72 domestic banks and 22 U.S. branches and agencies of foreign banks.
Unless otherwise indicated, this summary refers to the responses of domestic banks.
Regarding loans to businesses, respondents to the April survey indicated that, on balance, they
eased their standards and terms on commercial and industrial (C&I) loans to large and middlemarket firms and left their standards unchanged for small firms. Meanwhile, banks eased
standards on nonfarm nonresidential loans and tightened standards on multifamily loans, whereas
standards on construction and land development loans were little changed. Demand for C&I and
for commercial real estate (CRE) loans reportedly weakened.
Banks also responded to a set of special questions inquiring about changes in lending policies
and demand for CRE loans over the past year. Banks reportedly eased important lending terms,
including maximum loan size and the spread of loan rates over their cost of funds, across all
three major CRE loan categories—that is, construction and land development loans, nonfarm
nonresidential loans, and multifamily loans. Almost all banks that reportedly eased CRE credit
policies cited more aggressive competition from other banks or nonbank lenders as an important
reason for easing.
For loans to households, banks reported that, on balance, their lending standards on most
categories of residential real estate (RRE) loans remained basically unchanged, while standards
on auto and credit card loans tightened modestly. Meanwhile, banks reported weaker demand
for auto loans, credit card loans, and most categories of RRE loans.
Lending to Businesses
(Table 1, questions 1–12; Table 2, questions 1–8)
Questions on commercial and industrial lending. On net, a moderate fraction of domestic
banks reportedly eased standards on loans to large and middle-market firms, while standards on
loans to small firms were little changed. Over the first three months of the year, banks
reportedly eased most terms on C&I loans to large and middle-market firms and to small firms.
A significant fraction of banks reportedly narrowed loan rate spreads on loans to large and
middle-market firms and a moderate fraction narrowed spreads on loans to small firms.
1
Respondent banks received the survey on March 26, 2018, and responses were due by
April 9, 2018.
1
Notably, all domestic banks that reportedly eased standards or terms on C&I loans over the past
three months cited increased competition from other lenders as a reason for easing. In addition,
significant fractions of banks mentioned a more favorable or less uncertain economic outlook;
improvements of industry-specific problems; increased tolerance for risk; and reduced concerns
about the effects of legislative changes, supervisory actions, or changes in accounting standards
as important reasons for easing.
Foreign banks reported that C&I loan standards remained about unchanged. Meanwhile, foreign
banks reportedly eased several terms on C&I loans. Moderate net fractions of foreign banks
reportedly increased the maximum size of credit lines, narrowed loan rate spreads, reduced the
use of interest rate floors, and eased loan covenants.
A modest net percentage of domestic banks reported weaker demand for C&I loans to large and
middle-market firms in the first quarter, while demand for loans to small firms changed little. 2
Foreign banks also reported that demand for C&I loans remained about unchanged. The number
of inquiries from potential borrowers reportedly rose moderately at domestic banks and modestly
at foreign banks.
Most domestic banks that reported experiencing reduced C&I loan demand indicated that
customers shifting their borrowing to other sources of credit and increases in customers’
internally generated funds were important reasons for weaker demand.
Questions on commercial real estate lending. Standards on construction and land
development loans reportedly remained about unchanged, while a modest net percentage of
banks reported tightening standards on multifamily loans and a modest net share of banks
reported easing standards on nonfarm nonresidential loans. Notably, this was the first quarter in
almost three years in which banks, on net, reported easing standards on one of the three main
CRE loan categories. Meanwhile, a moderate net share of foreign banks reported tightening their
standards on CRE loans.
2
For questions that ask about lending standards or terms, “net fraction” (or “net percentage”) refers to the
fraction of banks that reported having tightened (“tightened considerably” or “tightened somewhat”) minus the
fraction of banks that reported having eased (“eased considerably” or “eased somewhat”). For questions that ask
about loan demand, this term refers to the fraction of banks that reported stronger demand (“substantially stronger”
or “moderately stronger”) minus the fraction of banks that reported weaker demand (“substantially weaker” or
“moderately weaker”). For this summary, when standards, terms, or demand are said to have “remained basically
unchanged,” the net percentage of respondent banks that reported either tightening or easing of standards or terms,
or stronger or weaker demand, is greater than or equal to 0 and less than or equal to 5 percent; “modest” refers to net
percentages greater than 5 and less than or equal to 10 percent; “moderate” refers to net percentages greater than 10
and less than or equal to 20 percent; “significant” refers to net percentages greater than 20 and less than 50 percent;
and “major” refers to net percentages greater than or equal to 50 percent.
Large and middle-market firms are defined as firms with annual sales of $50 million or more, and small
firms are those with annual sales of less than $50 million.
2
Modest net shares of domestic banks indicated weaker demand for loans across the three main
CRE loan categories. Over the same period, foreign banks reported that demand for CRE loans
was about unchanged on balance.
Special Questions on Changes in Banks' Credit Policies on Commercial Real Estate
Loans over the Past Year
(Table 1, questions 27–31; Table 2, questions 9–13)
The April survey included five special questions on CRE lending policies and demand. The
questions asked banks to consider how their credit policies and loan demand for each major CRE
loan category had changed over the past year and why.
Domestic banks reported that they had eased policies on all three major categories of CRE loans
over the past year. In particular, moderate net fractions of banks reportedly narrowed spreads
and increased the maximum size of loans across the three main CRE loan categories. Debt
service coverage ratios, however, changed little on these three loan categories. Meanwhile,
foreign banks also reported easing terms on all three major categories of CRE loans.
These findings contrast with the answers to the same questions in the survey administered a year
ago. While banks reported last year a net tightening of most lending policies on CRE loans over
2016, in the current survey they reported a net easing of several lending policies over 2017 for all
three major CRE loan categories.
A major fraction of banks that reportedly eased CRE credit policies over 2017 cited more
aggressive competition from other banks or nonbank lenders as an important reason for easing.
Significant net percentages of banks also mentioned increased tolerance for risk and more
favorable or less uncertain outlooks for CRE property prices, for vacancy rates or other
fundamentals on CRE properties, and for capitalization rates on CRE properties as important
reasons for easing these credit policies over the past year.
The number of banks that reportedly experienced stronger demand for CRE loans over 2017 was
only slightly larger than the number of banks that reportedly faced weaker demand. Most banks
that reportedly experienced stronger demand for CRE loans mentioned, as important reasons,
increases in customers’ acquisition or development of properties and a more favorable or less
uncertain outlook for rental demand. Most banks that reportedly faced weaker demand cited, as
important reasons, decreases in customers’ acquisition or development of properties, rising
interest rates, and shifts of customer borrowing to other bank or nonbank sources. Answers from
small and large domestic banks to these demand questions were similar.
3
Lending to Households
(Table 1, questions 13–26)
Questions on residential real estate lending. Standards for residential real estate lending
remained about unchanged for all RRE loan categories except qualified mortgage (QM) jumbo
residential mortgages, which reportedly eased in the first quarter of 2018. 3 A modest net fraction
of banks reportedly eased standards for home equity lines of credit (HELOCs).
In the first quarter of 2018, significant net shares of domestic banks reported decreased demand
for government and non-QM jumbo residential mortgages. In addition, moderate net fractions of
banks reported decreased demand for GSE (government-sponsored enterprise)-eligible, QM nonjumbo non-GSE-eligible, QM jumbo, and non-QM non-jumbo residential mortgages. Over the
same period, a significant net share of banks reported weaker demand for HELOCs.
Questions on consumer lending. Modest net percentages of banks reported tightening
standards on auto and credit card loans over the past three months, while standards on other
consumer loans were reportedly little changed on net. In addition to tightening standards for
consumer loans, banks also reportedly continued to tighten several terms for credit card and auto
lending. A modest net share of banks reported increasing minimum required credit scores for
credit card loans. A moderate net fraction of banks reportedly widened loan rate spreads on auto
loans, while a modest net share of banks reportedly lowered the extent to which auto loans are
extended to customers who do not meet credit scoring thresholds.
Modest net percentages of banks reported weaker demand for auto, credit card, and other
consumer loans.
This document was prepared by Marcelo Rezende, with the assistance of Akber Khan and
Gideon Teitel, Division of Monetary Affairs, Board of Governors of the Federal Reserve System.
3
The seven categories of residential home-purchase loans that banks are asked to consider are GSEeligible, government, QM non-jumbo non-GSE-eligible, QM jumbo, non-QM jumbo, non-QM non-jumbo, and
subprime. See the survey results tables that follow this summary for a description of each of these loan categories.
The definition of a QM was introduced in the 2013 Mortgage Rules under the Truth in Lending Act (12 CFR Part
1026.32, Regulation Z). The standard for a QM excludes mortgages with loan characteristics such as negative
amortization, balloon and interest-only payment schedules, terms exceeding 30 years, alt-A or no documentation,
and total points and fees that exceed 3 percent of the loan amount. In addition, a QM requires that the monthly debtto-income ratio of borrowers not exceed 43 percent. For more on the ability to repay and QM standards under
Regulation Z, see the Consumer Financial Protection Bureau’s website at
www.consumerfinance.gov/regulations/ability-to-repay-and-qualified-mortgage-standards-under-the-truth-inlending-act-regulation-z.
4
Measures of Supply and Demand for Commercial and Industrial Loans,
by Size of Firm Seeking Loan
Net Percent of Domestic Respondents Tightening Standards for Commercial and Industrial Loans
Net percent
100
Jan.
survey
Loans to large and middle-market firms
Loans to small firms
80
60
40
20
0
-20
-40
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
Net Percent of Domestic Respondents Increasing Spreads of Loan Rates over Bank’s Cost of Funds
Net percent
100
Jan.
survey
80
60
40
20
0
-20
-40
-60
-80
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
Net Percent of Domestic Respondents Reporting Stronger Demand for Commercial and Industrial Loans
Net percent
60
Jan.
survey
40
20
0
-20
-40
-60
-80
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
Measures of Supply and Demand for Commercial Real Estate Loans
Net Percent of Domestic Respondents Tightening Standards for Commercial Real Estate Loans
Net percent
100
80
Jan.
survey
60
40
20
0
-20
All commercial real estate loans
Construction and land development
Nonfarm nonresidential
Multifamily
-40
-60
-80
-100
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
Net Percent of Domestic Respondents Reporting Stronger Demand for Commercial Real Estate Loans
Net percent
100
All commercial real estate loans
Construction and land development
Nonfarm nonresidential
Multifamily
Jan.
survey
80
60
40
20
0
-20
-40
-60
-80
-100
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
Note: For data starting in 2013:Q4, changes in demand for construction and land development, nonfarm nonresidential, and multifamily loans are reported separately.
Measures of Supply and Demand for Residential Mortgage Loans
Net Percent of Domestic Respondents Tightening Standards for Residential Mortgage Loans
Net percent
100
100
All residential mortgage loans
Prime
Nontraditional
Subprime
80
GSE
Government
QM non-jumbo non-GSE
QM jumbo
Non-QM jumbo
Non-QM non-jumbo
Subprime
80
60
60
40
40
20
20
0
0
-20
-20
1990
1993
1996
1999
2002
2005
2008
2011
2014
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2015
2016
2017
2018
Net Percent of Domestic Respondents Reporting Stronger Demand for Residential Mortgage Loans
Net percent
80
80
All residential mortgage loans
Prime
Nontraditional
Subprime
60
60
40
40
20
20
0
0
-20
-20
-40
GSE
Government
QM non-jumbo non-GSE
QM jumbo
Non-QM jumbo
Non-QM non-jumbo
Subprime
-60
-80
-100
-40
-60
-80
-100
1990
1994
1998
2002
2006
2010
2014
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2015
2016
2017
2018
Note: For data starting in 2007:Q2, changes in standards and demand for prime, nontraditional, and subprime mortgage loans are reported separately. For data starting in
2015:Q1, changes in standards and demand were expanded into the following seven categories: GSE-eligible; government; QM non-jumbo non-GSE-eligible; QM jumbo;
non-QM jumbo; non-QM non-jumbo; and subprime. Series are not reported when the number of respondents is three or fewer.
Measures of Supply and Demand for Consumer Loans
Net Percent of Domestic Respondents Tightening Standards for Consumer Loans
Net percent
100
80
Jan.
survey
60
40
20
0
-20
Non-credit card (auto and other)
Credit card
Auto
Other consumer
-40
-60
-80
-100
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
Note: For data starting in 2011:Q2, changes in standards for auto loans and consumer loans excluding credit card and auto loans are reported separately. In
2011:Q2 only, new and used auto loans are reported separately and equally weighted to calculate the auto loans series.
Net Percent of Domestic Respondents Reporting Increased Willingness to Make Consumer Installment Loans
Net percent
60
Jan.
survey
40
20
0
-20
-40
-60
1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
Net Percent of Domestic Respondents Reporting Stronger Demand for Consumer Loans
Net percent
100
All consumer loans
Credit card
Auto
Other consumer
Jan.
survey
80
60
40
20
0
-20
-40
-60
-80
-100
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
Note: For data starting in 2011:Q2, changes in demand for credit card loans, auto loans, and consumer loans excluding credit card and auto loans are
reported separately.
RESTRICTED FR
Table 1
Senior Loan Officer Opinion Survey on Bank Lending Practices at Selected Large
Banks in the United States 1
(Status of Policy as of April 2018)
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
1
1.4
1
2.2
0
0.0
61
85.9
38
82.6
23
92.0
Eased somewhat
9
12.7
7
15.2
2
8.0
Eased considerably
0
0.0
0
0.0
0
0.0
71
100
46
100
25
100
Remained basically unchanged
Total
0.0
B. Standards for small firms (annual sales of less than $50 million):
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
1
1.5
1
2.4
0
0.0
63
94.0
39
92.9
24
96.0
Eased somewhat
3
4.5
2
4.8
1
4.0
Eased considerably
0
0.0
0
0.0
0
0.0
67
100
42
100
25
100
Remained basically unchanged
Total
0.0
2. For applications for C&I loans or credit lines—other than those to be used to finance mergers and
acquisitions—from large and middle-market firms and from small firms that your bank currently is willing to approve,
how have the terms of those loans changed over the past three months?
A. Terms for large and middle-market firms (annual sales of $50 million or more):
a. Maximum size of credit lines
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
1
1.4
1
2.2
0
Tightened somewhat
0
0.0
0
0.0
0
0.0
Remained basically unchanged
59
84.3
36
78.3
23
95.8
Eased somewhat
10
14.3
9
19.6
1
4.2
0
0.0
0
0.0
0
0.0
70
100
46
100
24
100
Eased considerably
Total
0.0
b. Maximum maturity of loans or credit lines
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
1
1.4
1
2.2
0
Tightened somewhat
0
0.0
0
0.0
0
0.0
65
92.9
43
93.5
22
91.7
Eased somewhat
4
5.7
2
4.3
2
8.3
Eased considerably
0
0.0
0
0.0
0
0.0
70
100
46
100
24
100
Remained basically unchanged
Total
0.0
c. Costs of credit lines
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
1
1.4
1
2.2
0
Tightened somewhat
2
2.9
1
2.2
1
4.2
Remained basically unchanged
55
78.6
33
71.7
22
91.7
Eased somewhat
12
17.1
11
23.9
1
4.2
0
0.0
0
0.0
0
0.0
70
100
46
100
24
100
Eased considerably
Total
0.0
d. Spreads of loan rates over your bank's cost of funds (wider spreads=tightened, narrower
spreads=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
1
1.4
1
2.2
0
0.0
Tightened somewhat
4
5.7
1
2.2
3
12.5
Remained basically unchanged
43
61.4
24
52.2
19
79.2
Eased somewhat
22
31.4
20
43.5
2
8.3
0
0.0
0
0.0
0
0.0
70
100
46
100
24
100
Eased considerably
Total
e. Premiums charged on riskier loans
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
1
1.4
1
2.2
0
Tightened somewhat
2
2.9
1
2.2
1
4.2
58
82.9
37
80.4
21
87.5
Eased somewhat
9
12.9
7
15.2
2
8.3
Eased considerably
0
0.0
0
0.0
0
0.0
70
100
46
100
24
100
Remained basically unchanged
Total
0.0
f. Loan covenants
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
1
1.4
1
2.2
0
Tightened somewhat
1
1.4
0
0.0
1
4.2
Remained basically unchanged
55
79.7
35
77.8
20
83.3
Eased somewhat
12
17.4
9
20.0
3
12.5
0
0.0
0
0.0
0
0.0
69
100
45
100
24
100
Eased considerably
Total
0.0
g. Collateralization requirements
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
1
1.4
1
2.2
0
Tightened somewhat
0
0.0
0
0.0
0
0.0
64
91.4
41
89.1
23
95.8
Eased somewhat
5
7.1
4
8.7
1
4.2
Eased considerably
0
0.0
0
0.0
0
0.0
70
100
46
100
24
100
Remained basically unchanged
Total
0.0
h. Use of interest rate floors (more use=tightened, less use=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
1
1.4
1
2.2
0
Tightened somewhat
1
1.4
0
0.0
1
4.2
56
81.2
36
80.0
20
83.3
Eased somewhat
8
11.6
6
13.3
2
8.3
Eased considerably
3
4.3
2
4.4
1
4.2
69
100
45
100
24
100
Remained basically unchanged
Total
B. Terms for small firms (annual sales of less than $50 million):
0.0
a. Maximum size of credit lines
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
0
0.0
0
0.0
0
0.0
67
100.0
43
100.0
24
100.0
Eased somewhat
0
0.0
0
0.0
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
67
100
43
100
24
100
Remained basically unchanged
Total
0.0
b. Maximum maturity of loans or credit lines
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
0
0.0
0
0.0
0
0.0
64
94.1
41
95.3
23
92.0
Eased somewhat
4
5.9
2
4.7
2
8.0
Eased considerably
0
0.0
0
0.0
0
0.0
68
100
43
100
25
100
Remained basically unchanged
Total
0.0
c. Costs of credit lines
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
2
2.9
1
2.3
1
4.0
58
85.3
35
81.4
23
92.0
Eased somewhat
8
11.8
7
16.3
1
4.0
Eased considerably
0
0.0
0
0.0
0
0.0
68
100
43
100
25
100
Remained basically unchanged
Total
0.0
d. Spreads of loan rates over your bank's cost of funds (wider spreads=tightened, narrower
spreads=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
0.0
Tightened somewhat
4
5.9
1
2.3
3
12.0
Remained basically unchanged
50
73.5
30
69.8
20
80.0
Eased somewhat
14
20.6
12
27.9
2
8.0
0
0.0
0
0.0
0
0.0
68
100
43
100
25
100
Eased considerably
Total
e. Premiums charged on riskier loans
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
1
1.5
0
0.0
1
4.0
63
94.0
41
97.6
22
88.0
Eased somewhat
3
4.5
1
2.4
2
8.0
Eased considerably
0
0.0
0
0.0
0
0.0
67
100
42
100
25
100
Remained basically unchanged
Total
0.0
f. Loan covenants
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
0
0.0
0
0.0
0
0.0
63
94.0
40
93.0
23
95.8
Eased somewhat
4
6.0
3
7.0
1
4.2
Eased considerably
0
0.0
0
0.0
0
0.0
67
100
43
100
24
100
Remained basically unchanged
Total
0.0
g. Collateralization requirements
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
0
0.0
0
0.0
0
0.0
66
97.1
42
97.7
24
96.0
Eased somewhat
2
2.9
1
2.3
1
4.0
Eased considerably
0
0.0
0
0.0
0
0.0
68
100
43
100
25
100
Remained basically unchanged
Total
0.0
h. Use of interest rate floors (more use=tightened, less use=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
1
1.5
0
0.0
1
4.0
59
89.4
37
90.2
22
88.0
Eased somewhat
4
6.1
3
7.3
1
4.0
Eased considerably
2
3.0
1
2.4
1
4.0
66
100
41
100
25
100
Remained basically unchanged
Total
0.0
3. If your bank has tightened or eased its credit standards or its terms for C&I loans or credit lines over the past
three months (as described in questions 1 and 2), how important have been the following possible reasons for the
change? (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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
7
77.8
4
100.0
3
60.0
Somewhat important
2
22.2
0
0.0
2
40.0
Very important
0
0.0
0
0.0
0
0.0
Total
9
100
4
100
5
100
b. Less favorable or more uncertain economic outlook
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
3
33.3
1
25.0
2
40.0
Somewhat important
5
55.6
3
75.0
2
40.0
Very important
1
11.1
0
0.0
1
20.0
Total
9
100
4
100
5
100
c. Worsening of industry-specific problems (please specify industries)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
5
62.5
3
75.0
2
50.0
Somewhat important
3
37.5
1
25.0
2
50.0
Very important
0
0.0
0
0.0
0
0.0
Total
8
100
4
100
4
100
d. Less aggressive competition from other banks or nonbank lenders (other financial intermediaries or
the capital markets)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
7
77.8
4
100.0
3
60.0
Somewhat important
2
22.2
0
0.0
2
40.0
Very important
0
0.0
0
0.0
0
0.0
Total
9
100
4
100
5
100
e. Reduced tolerance for risk
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
5
55.6
3
75.0
2
40.0
Somewhat important
3
33.3
0
0.0
3
60.0
Very important
1
11.1
1
25.0
0
0.0
Total
9
100
4
100
5
100
f. Decreased liquidity in the secondary market for these loans
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
7
77.8
4
100.0
3
60.0
Somewhat important
1
11.1
0
0.0
1
20.0
Very important
1
11.1
0
0.0
1
20.0
Total
9
100
4
100
5
100
g. Deterioration in your bank's current or expected liquidity position
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
6
66.7
4
100.0
2
Somewhat important
2
22.2
0
0.0
2
40.0
40.0
Very important
1
11.1
0
0.0
1
20.0
Total
9
100
4
100
5
100
h. Increased concerns about the effects of legislative changes, supervisory actions, or changes in
accounting standards
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
6
66.7
4
100.0
2
Somewhat important
2
22.2
0
0.0
2
40.0
40.0
Very important
1
11.1
0
0.0
1
20.0
Total
9
100
4
100
5
100
B. Possible reasons for easing credit standards or loan terms:
a. Improvement in your bank's current or expected capital position
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
23
88.5
20
95.2
3
60.0
Somewhat important
3
11.5
1
4.8
2
40.0
Very important
0
0.0
0
0.0
0
0.0
26
100
21
100
5
100
Total
b. More favorable or less uncertain economic outlook
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
17
65.4
16
76.2
1
20.0
Somewhat important
9
34.6
5
23.8
4
80.0
Very important
0
0.0
0
0.0
0
0.0
26
100
21
100
5
100
Total
c. Improvement in industry-specific problems (please specify industries)
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
18
78.3
16
84.2
2
50.0
Somewhat important
5
21.7
3
15.8
2
50.0
Very important
0
0.0
0
0.0
0
0.0
23
100
19
100
4
100
Total
d. More aggressive competition from other banks or nonbank lenders (other financial intermediaries or
the capital markets)
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
0
0.0
0
0.0
0
0.0
Somewhat important
12
40.0
9
37.5
3
50.0
Very important
18
60.0
15
62.5
3
50.0
Total
30
100
24
100
6
100
e. Increased tolerance for risk
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
18
69.2
15
71.4
3
60.0
Somewhat important
6
23.1
5
23.8
1
20.0
Very important
2
7.7
1
4.8
1
20.0
26
100
21
100
5
100
Total
f. Increased liquidity in the secondary market for these loans
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
21
80.8
17
81.0
4
80.0
Somewhat important
5
19.2
4
19.0
1
20.0
Very important
0
0.0
0
0.0
0
0.0
26
100
21
100
5
100
Total
g. Improvement in your bank's current or expected liquidity position
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
25
96.2
21
100.0
4
80.0
Somewhat important
1
3.8
0
0.0
1
20.0
Very important
0
0.0
0
0.0
0
0.0
26
100
21
100
5
100
Total
h. Reduced concerns about the effects of legislative changes, supervisory actions, or changes in
accounting standards
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
18
69.2
16
76.2
2
40.0
Somewhat important
8
30.8
5
23.8
3
60.0
Very important
0
0.0
0
0.0
0
0.0
26
100
21
100
5
100
Total
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Substantially stronger
0
0.0
0
0.0
0
Moderately stronger
8
11.3
7
15.2
1
4.0
About the same
50
70.4
28
60.9
22
88.0
Moderately weaker
13
18.3
11
23.9
2
8.0
0
0.0
0
0.0
0
0.0
71
100
46
100
25
100
Substantially weaker
Total
0.0
B. Demand for C&I loans from small firms (annual sales of less than $50 million):
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Substantially stronger
0
0.0
0
0.0
0
0.0
Moderately stronger
7
10.3
5
11.6
2
8.0
About the same
53
77.9
33
76.7
20
80.0
Moderately weaker
8
11.8
5
11.6
3
12.0
Substantially weaker
0
0.0
0
0.0
0
0.0
68
100
43
100
25
100
Total
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
4
36.4
4
44.4
0
0.0
Somewhat important
6
54.5
5
55.6
1
50.0
Very important
Total
1
9.1
0
0.0
1
50.0
11
100
9
100
2
100
b. Customer accounts receivable financing needs increased
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
3
27.3
3
33.3
0
0.0
Somewhat important
7
63.6
6
66.7
1
50.0
Very important
Total
1
9.1
0
0.0
1
50.0
11
100
9
100
2
100
c. Customer investment in plant or equipment increased
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
5
45.5
5
55.6
0
0.0
Somewhat important
4
36.4
2
22.2
2
100.0
2
18.2
2
22.2
0
0.0
11
100
9
100
2
100
Very important
Total
d. Customer internally generated funds decreased
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
8
80.0
7
87.5
1
50.0
Somewhat important
1
10.0
0
0.0
1
50.0
Very important
1
10.0
1
12.5
0
0.0
10
100
8
100
2
100
Total
e. Customer merger or acquisition financing needs increased
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
3
27.3
2
22.2
1
50.0
Somewhat important
5
45.5
4
44.4
1
50.0
Very important
3
27.3
3
33.3
0
0.0
11
100
9
100
2
100
Total
f. Customer borrowing shifted to your bank from other bank or nonbank sources because these other
sources became less attractive
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
8
72.7
6
66.7
2
Somewhat important
3
27.3
3
33.3
0
0.0
Very important
0
0.0
0
0.0
0
0.0
11
100
9
100
2
100
Total
100.0
g. Customer precautionary demand for cash and liquidity increased
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
10
100.0
8
100.0
2
100.0
Somewhat important
0
0.0
0
0.0
0
0.0
Very important
0
0.0
0
0.0
0
0.0
10
100
8
100
2
100
Total
B. If weaker loan demand (answer 4 or 5 to question 4A or 4B), possible reasons:
a. Customer inventory financing needs decreased
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
6
50.0
5
55.6
1
33.3
Somewhat important
6
50.0
4
44.4
2
66.7
Very important
0
0.0
0
0.0
0
0.0
12
100
9
100
3
100
Total
b. Customer accounts receivable financing needs decreased
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
6
50.0
5
55.6
1
33.3
Somewhat important
6
50.0
4
44.4
2
66.7
Very important
0
0.0
0
0.0
0
0.0
12
100
9
100
3
100
Total
c. Customer investment in plant or equipment decreased
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
6
50.0
4
44.4
2
66.7
Somewhat important
6
50.0
5
55.6
1
33.3
Very important
0
0.0
0
0.0
0
0.0
12
100
9
100
3
100
Total
d. Customer internally generated funds increased
All Respondents
Banks
Not important
Somewhat important
Very important
Total
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
2
16.7
2
22.2
0
0.0
10
83.3
7
77.8
3
100.0
0
0.0
0
0.0
0
0.0
12
100
9
100
3
100
e. Customer merger or acquisition financing needs decreased
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
7
58.3
4
44.4
3
Somewhat important
5
41.7
5
55.6
0
0.0
Very important
0
0.0
0
0.0
0
0.0
12
100
9
100
3
100
Total
100.0
f. Customer borrowing shifted from your bank to other bank or nonbank sources because these other
sources became more attractive
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
4
30.8
3
30.0
1
33.3
Somewhat important
6
46.2
5
50.0
1
33.3
Very important
3
23.1
2
20.0
1
33.3
13
100
10
100
3
100
Total
g. Customer precautionary demand for cash and liquidity decreased
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
11
84.6
8
80.0
3
Somewhat important
2
15.4
2
20.0
0
0.0
Very important
0
0.0
0
0.0
0
0.0
13
100
10
100
3
100
Total
100.0
6. At your bank, apart from seasonal variation, how has the number of inquiries from potential business borrowers
regarding the availability and terms of new credit lines or increases in existing lines changed over the past three
months? (Please consider only inquiries for additional or increased C&I lines as opposed to the refinancing of
existing loans.)
All Respondents
Banks
Large Banks
Percent
Banks
Other 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
16
22.9
11
24.4
5
20.0
The number of inquiries has stayed about the same
47
67.1
30
66.7
17
68.0
The number of inquiries has decreased moderately
7
10.0
4
8.9
3
12.0
The number of inquiries has decreased substantially
0
0.0
0
0.0
0
0.0
70
100
45
100
25
100
Total
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
0.0
Tightened somewhat
4
5.8
0
0.0
4
16.0
Remained basically unchanged
64
92.8
43
97.7
21
84.0
Eased somewhat
1
1.4
1
2.3
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
69
100
44
100
25
100
Total
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
2
2.9
1
2.2
1
4.0
61
87.1
39
86.7
22
88.0
Eased somewhat
7
10.0
5
11.1
2
8.0
Eased considerably
0
0.0
0
0.0
0
0.0
70
100
45
100
25
100
Remained basically unchanged
Total
0.0
9. Over the past three months, how have your bank's credit standards for approving new applications for loans
secured by multifamily residential properties changed?
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
0.0
Tightened somewhat
8
11.3
5
10.9
3
12.0
Remained basically unchanged
59
83.1
37
80.4
22
88.0
Eased somewhat
4
5.6
4
8.7
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
71
100
46
100
25
100
Total
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Substantially stronger
0
0.0
0
0.0
0
0.0
Moderately stronger
9
13.2
6
14.0
3
12.0
About the same
46
67.6
26
60.5
20
80.0
Moderately weaker
13
19.1
11
25.6
2
8.0
0
0.0
0
0.0
0
0.0
68
100
43
100
25
100
Substantially weaker
Total
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Substantially stronger
0
0.0
0
0.0
0
Moderately stronger
4
5.7
2
4.4
2
8.0
57
81.4
35
77.8
22
88.0
Moderately weaker
9
12.9
8
17.8
1
4.0
Substantially weaker
0
0.0
0
0.0
0
0.0
70
100
45
100
25
100
About the same
Total
0.0
12. Apart from normal seasonal variation, how has demand for loans secured by multifamily residential
properties changed over the past three months? (Please consider the number of requests for new spot loans, for
disbursement of funds under existing loan commitments, and for new or increased credit lines.)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Substantially stronger
0
0.0
0
0.0
0
0.0
Moderately stronger
6
8.6
3
6.7
3
12.0
About the same
51
72.9
32
71.1
19
76.0
Moderately weaker
13
18.6
10
22.2
3
12.0
Substantially weaker
Total
0
0.0
0
0.0
0
0.0
70
100
45
100
25
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
1
1.7
0
0.0
1
4.3
55
93.2
33
91.7
22
95.7
Eased somewhat
3
5.1
3
8.3
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
59
100
36
100
23
100
Remained basically unchanged
Total
For this question, 9 respondents answered "My bank does not originate GSE-eligible residential
mortgages."
0.0
B. Credit standards on mortgage loans that your bank categorizes as government residential mortgages
have:
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
0
0.0
0
0.0
0
0.0
58
98.3
35
97.2
23
100.0
Eased somewhat
1
1.7
1
2.8
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
59
100
36
100
23
100
Remained basically unchanged
Total
0.0
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
0
0.0
0
0.0
0
0.0
58
96.7
36
100.0
22
91.7
Eased somewhat
2
3.3
0
0.0
2
8.3
Eased considerably
0
0.0
0
0.0
0
0.0
60
100
36
100
24
100
Remained basically unchanged
Total
0.0
For this question, 7 respondents answered "My bank does not originate QM non-jumbo, non-GSEeligible residential mortgages."
D. Credit standards on mortgage loans that your bank categorizes as QM jumbo residential mortgages have:
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
0
0.0
0
0.0
0
0.0
56
90.3
34
94.4
22
84.6
Eased somewhat
6
9.7
2
5.6
4
15.4
Eased considerably
0
0.0
0
0.0
0
0.0
62
100
36
100
26
100
Remained basically unchanged
Total
0.0
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
2
3.4
2
5.6
0
0.0
53
91.4
33
91.7
20
90.9
Eased somewhat
3
5.2
1
2.8
2
9.1
Eased considerably
0
0.0
0
0.0
0
0.0
58
100
36
100
22
100
Remained basically unchanged
Total
0.0
For this question, 10 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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
1
1.8
1
2.9
0
0.0
52
94.5
34
97.1
18
90.0
Eased somewhat
2
3.6
0
0.0
2
10.0
Eased considerably
0
0.0
0
0.0
0
0.0
55
100
35
100
20
100
Remained basically unchanged
Total
For this question, 13 respondents answered "My bank does not originate non-QM non-jumbo
residential mortgages."
0.0
G. Credit standards on mortgage loans that your bank categorizes as subprime residential mortgages have:
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
0
0.0
0
0.0
0
0.0
0.0
Remained basically unchanged
6
100.0
2
100.0
4
100.0
Eased somewhat
0
0.0
0
0.0
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
Total
6
100
2
100
4
100
For this question, 62 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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Substantially stronger
0
0.0
0
0.0
0
0.0
Moderately stronger
6
10.2
3
8.3
3
13.0
About the same
36
61.0
21
58.3
15
65.2
Moderately weaker
17
28.8
12
33.3
5
21.7
Substantially weaker
Total
0
0.0
0
0.0
0
0.0
59
100
36
100
23
100
For this question, 6 respondents answered "My bank does not originate GSE-eligible residential
mortgages."
B. Demand for mortgages that your bank categorizes as government residential mortgages was:
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Substantially stronger
0
0.0
0
0.0
0
0.0
Moderately stronger
4
6.8
1
2.8
3
13.0
About the same
39
66.1
24
66.7
15
65.2
Moderately weaker
16
27.1
11
30.6
5
21.7
Substantially weaker
Total
0
0.0
0
0.0
0
0.0
59
100
36
100
23
100
For this question, 8 respondents answered "My bank does not originate government residential
mortgages."
C. Demand for mortgages that your bank categorizes as QM non-jumbo, non-GSE-eligible residential
mortgages was:
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Substantially stronger
0
0.0
0
0.0
0
0.0
Moderately stronger
6
10.0
2
5.7
4
16.0
About the same
36
60.0
21
60.0
15
60.0
Moderately weaker
18
30.0
12
34.3
6
24.0
Substantially weaker
Total
0
0.0
0
0.0
0
0.0
60
100
35
100
25
100
For this question, 6 respondents answered "My bank does not originate QM non-jumbo, non-GSEeligible residential mortgages."
D. Demand for mortgages that your bank categorizes as QM jumbo residential mortgages was:
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Substantially stronger
0
0.0
0
0.0
0
0.0
Moderately stronger
7
11.3
1
2.8
6
23.1
About the same
38
61.3
23
63.9
15
57.7
Moderately weaker
17
27.4
12
33.3
5
19.2
Substantially weaker
Total
0
0.0
0
0.0
0
0.0
62
100
36
100
26
100
For this question, 6 respondents answered "My bank does not originate QM jumbo residential
mortgages."
E. Demand for mortgages that your bank categorizes as non-QM jumbo residential mortgages was:
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Substantially stronger
0
0.0
0
0.0
0
0.0
Moderately stronger
4
7.0
1
2.9
3
13.6
About the same
37
64.9
23
65.7
14
63.6
Moderately weaker
15
26.3
10
28.6
5
22.7
Substantially weaker
Total
1
1.8
1
2.9
0
0.0
57
100
35
100
22
100
For this question, 9 respondents answered "My bank does not originate non-QM jumbo residential
mortgages."
F. Demand for mortgages that your bank categorizes as non-QM non-jumbo residential mortgages was:
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Substantially stronger
1
1.9
1
2.9
0
0.0
Moderately stronger
5
9.3
2
5.9
3
15.0
About the same
36
66.7
24
70.6
12
60.0
Moderately weaker
12
22.2
7
20.6
5
25.0
0
0.0
0
0.0
0
0.0
54
100
34
100
20
100
Substantially weaker
Total
For this question, 11 respondents answered "My bank does not originate non-QM non-jumbo
residential mortgages."
G. Demand for mortgages that your bank categorizes as subprime residential mortgages was:
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Substantially stronger
0
0.0
0
0.0
0
Moderately stronger
0
0.0
0
0.0
0
0.0
0.0
About the same
6
100.0
2
100.0
4
100.0
Moderately weaker
0
0.0
0
0.0
0
0.0
Substantially weaker
0
0.0
0
0.0
0
0.0
Total
6
100
2
100
4
100
For this question, 60 respondents answered "My bank does not originate subprime residential
mortgages."
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
0
0.0
0
0.0
0
0.0
59
92.2
35
89.7
24
96.0
Eased somewhat
5
7.8
4
10.3
1
4.0
Eased considerably
0
0.0
0
0.0
0
0.0
64
100
39
100
25
100
Remained basically unchanged
Total
0.0
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Substantially stronger
1
1.6
1
2.6
0
Moderately stronger
3
4.7
2
5.1
1
4.0
About the same
42
65.6
24
61.5
18
72.0
Moderately weaker
17
26.6
11
28.2
6
24.0
1
1.6
1
2.6
0
0.0
64
100
39
100
25
100
Substantially weaker
Total
0.0
Questions 17-26 ask about consumer lending at your bank. Question 17 deals with changes in your bank's
willingness to make consumer loans over the past three months. Questions 18-23 deal with changes in credit
standards and loan terms over the same period. Questions 24-26 deal with changes in demand for consumer loans
over the past three months. If your bank's lending policies have not changed over the past three months, please
report them as unchanged even if the policies are either restrictive or accommodative relative to longer-term norms.
If your bank's policies have tightened or eased over the past three months, please so report them regardless of how
they stand relative to longer-term norms. Also, please report changes in enforcement of existing policies as changes
in policies.
17. Please indicate your bank's willingness to make consumer installment loans now as opposed to three months
ago.
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Much more willing
1
1.5
1
2.5
0
0.0
Somewhat more willing
5
7.7
4
10.0
1
4.0
About unchanged
59
90.8
35
87.5
24
96.0
Somewhat less willing
0
0.0
0
0.0
0
0.0
Much less willing
0
0.0
0
0.0
0
0.0
65
100
40
100
25
100
Total
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
6
11.3
6
16.7
0
0.0
46
86.8
29
80.6
17
100.0
Eased somewhat
1
1.9
1
2.8
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
53
100
36
100
17
100
Remained basically unchanged
Total
0.0
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
4
6.5
3
7.9
1
4.2
58
93.5
35
92.1
23
95.8
Eased somewhat
0
0.0
0
0.0
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
62
100
38
100
24
100
Remained basically unchanged
Total
0.0
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
1
1.6
1
2.6
0
0.0
57
91.9
34
89.5
23
95.8
Eased somewhat
4
6.5
3
7.9
1
4.2
Eased considerably
0
0.0
0
0.0
0
0.0
62
100
38
100
24
100
Remained basically unchanged
Total
0.0
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
3
5.6
3
7.9
0
0.0
47
87.0
32
84.2
15
93.8
Eased somewhat
4
7.4
3
7.9
1
6.2
Eased considerably
0
0.0
0
0.0
0
0.0
54
100
38
100
16
100
Remained basically unchanged
Total
0.0
b. Spreads of interest rates charged on outstanding balances over your bank's cost of funds (wider
spreads=tightened, narrower spreads=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
2
3.8
2
5.3
0
0.0
49
92.5
34
89.5
15
100.0
Eased somewhat
2
3.8
2
5.3
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
53
100
38
100
15
100
Remained basically unchanged
Total
0.0
c. Minimum percent of outstanding balances required to be repaid each month
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
0
0.0
0
0.0
0
0.0
54
100.0
38
100.0
16
100.0
Eased somewhat
0
0.0
0
0.0
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
54
100
38
100
16
100
Remained basically unchanged
Total
0.0
d. Minimum required credit score (increased score=tightened, reduced score=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
6
11.1
6
15.8
0
0.0
47
87.0
31
81.6
16
100.0
Eased somewhat
1
1.9
1
2.6
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
54
100
38
100
16
100
Remained basically unchanged
Total
0.0
e. The extent to which loans are granted to some customers that do not meet credit scoring thresholds
(increased=eased, decreased=tightened)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
3
5.6
3
7.9
0
0.0
50
92.6
34
89.5
16
100.0
Eased somewhat
1
1.9
1
2.6
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
54
100
38
100
16
100
Remained basically unchanged
Total
0.0
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
2
3.2
2
5.3
0
0.0
59
95.2
36
94.7
23
95.8
Eased somewhat
1
1.6
0
0.0
1
4.2
Eased considerably
0
0.0
0
0.0
0
0.0
62
100
38
100
24
100
Remained basically unchanged
Total
0.0
b. Spreads of loan rates over your bank's cost of funds (wider spreads=tightened, narrower
spreads=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
0.0
Tightened somewhat
9
14.5
6
15.8
3
12.5
Remained basically unchanged
52
83.9
31
81.6
21
87.5
Eased somewhat
1
1.6
1
2.6
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
62
100
38
100
24
100
Total
c. Minimum required down payment (higher=tightened, lower=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
2
3.2
2
5.3
0
0.0
60
96.8
36
94.7
24
100.0
Eased somewhat
0
0.0
0
0.0
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
62
100
38
100
24
100
Remained basically unchanged
Total
0.0
d. Minimum required credit score (increased score=tightened, reduced score=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
3
4.8
3
7.9
0
0.0
59
95.2
35
92.1
24
100.0
Eased somewhat
0
0.0
0
0.0
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
62
100
38
100
24
100
Remained basically unchanged
Total
0.0
e. The extent to which loans are granted to some customers that do not meet credit scoring thresholds
(increased=eased, decreased=tightened)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
0.0
Tightened somewhat
4
6.5
4
10.5
0
0.0
Remained basically unchanged
58
93.5
34
89.5
24
100.0
Eased somewhat
0
0.0
0
0.0
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
62
100
38
100
24
100
Total
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
0
0.0
0
0.0
0
0.0
61
96.8
36
94.7
25
100.0
Eased somewhat
2
3.2
2
5.3
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
63
100
38
100
25
100
Remained basically unchanged
Total
0.0
b. Spreads of loan rates over your bank's cost of funds (wider spreads=tightened, narrower
spreads=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
3
4.8
1
2.6
2
8.0
59
93.7
36
94.7
23
92.0
Eased somewhat
1
1.6
1
2.6
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
63
100
38
100
25
100
Remained basically unchanged
Total
0.0
c. Minimum required down payment (higher=tightened, lower=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
0
0.0
0
0.0
0
0.0
62
100.0
37
100.0
25
100.0
Eased somewhat
0
0.0
0
0.0
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
62
100
37
100
25
100
Remained basically unchanged
Total
0.0
d. Minimum required credit score (increased score=tightened, reduced score=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
0
0.0
0
0.0
0
0.0
63
100.0
38
100.0
25
100.0
Eased somewhat
0
0.0
0
0.0
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
63
100
38
100
25
100
Remained basically unchanged
Total
0.0
e. The extent to which loans are granted to some customers that do not meet credit scoring thresholds
(increased=eased, decreased=tightened)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
0
0.0
0
0.0
0
0.0
63
100.0
38
100.0
25
100.0
Eased somewhat
0
0.0
0
0.0
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
63
100
38
100
25
100
Remained basically unchanged
Total
0.0
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Substantially stronger
0
0.0
0
0.0
0
Moderately stronger
2
3.8
2
5.6
0
0.0
43
82.7
29
80.6
14
87.5
Moderately weaker
7
13.5
5
13.9
2
12.5
Substantially weaker
0
0.0
0
0.0
0
0.0
52
100
36
100
16
100
About the same
Total
0.0
25. Apart from normal seasonal variation, how has demand from individuals or households for auto loans changed
over the past three months?
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Substantially stronger
0
0.0
0
0.0
0
Moderately stronger
4
6.6
3
8.1
1
4.2
49
80.3
29
78.4
20
83.3
Moderately weaker
8
13.1
5
13.5
3
12.5
Substantially weaker
0
0.0
0
0.0
0
0.0
61
100
37
100
24
100
About the same
Total
0.0
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
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Substantially stronger
0
0.0
0
0.0
0
Moderately stronger
1
1.6
1
2.6
0
0.0
56
88.9
34
89.5
22
88.0
Moderately weaker
6
9.5
3
7.9
3
12.0
Substantially weaker
0
0.0
0
0.0
0
0.0
63
100
38
100
25
100
About the same
Total
0.0
27. Over the past year, how has your bank changed the following policies on construction and land development
loans?
a. Maximum loan size
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
2
2.9
2
4.5
0
0.0
Remained basically unchanged
56
81.2
34
77.3
22
88.0
Eased somewhat
11
15.9
8
18.2
3
12.0
0
0.0
0
0.0
0
0.0
69
100
44
100
25
100
Eased considerably
Total
0.0
b. Maximum loan maturity
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
1
1.4
0
0.0
1
4.0
65
94.2
43
97.7
22
88.0
Eased somewhat
3
4.3
1
2.3
2
8.0
Eased considerably
0
0.0
0
0.0
0
0.0
69
100
44
100
25
100
Remained basically unchanged
Total
0.0
c. Spreads of loan rates over your bank's cost of funds (wider spreads=tightened, narrower
spreads=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
8
11.8
6
13.6
2
8.3
Remained basically unchanged
44
64.7
27
61.4
17
70.8
Eased somewhat
14
20.6
9
20.5
5
20.8
2
2.9
2
4.5
0
0.0
68
100
44
100
24
100
Eased considerably
Total
0.0
d. Loan-to-value ratios (lower ratios=tightened, higher ratios=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
0.0
Tightened somewhat
6
8.7
2
4.5
4
16.0
Remained basically unchanged
60
87.0
39
88.6
21
84.0
Eased somewhat
3
4.3
3
6.8
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
69
100
44
100
25
100
Total
e. Debt service coverage ratios (higher ratios=tightened, lower ratios=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
2
2.9
2
4.5
0
0.0
64
94.1
40
90.9
24
100.0
Eased somewhat
2
2.9
2
4.5
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
68
100
44
100
24
100
Remained basically unchanged
Total
0.0
f. Market areas served (reduced market areas=tightened, expanded market areas=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
4
5.8
3
6.8
1
4.0
58
84.1
36
81.8
22
88.0
Eased somewhat
7
10.1
5
11.4
2
8.0
Eased considerably
0
0.0
0
0.0
0
0.0
69
100
44
100
25
100
Remained basically unchanged
Total
0.0
g. Length of interest-only payment period (shorter interest-only periods=tightened, longer interest-only
periods=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
3
4.3
1
2.3
2
8.0
58
84.1
39
88.6
19
76.0
Eased somewhat
8
11.6
4
9.1
4
16.0
Eased considerably
0
0.0
0
0.0
0
0.0
69
100
44
100
25
100
Remained basically unchanged
Total
0.0
28. Over the past year, how has your bank changed the following policies on loans secured by nonfarmnonresidential properties?
a. Maximum loan size
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
1
1.4
1
2.2
0
0.0
Remained basically unchanged
55
78.6
34
73.9
21
87.5
Eased somewhat
14
20.0
11
23.9
3
12.5
0
0.0
0
0.0
0
0.0
70
100
46
100
24
100
Eased considerably
Total
0.0
b. Maximum loan maturity
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
3
4.3
2
4.3
1
4.2
59
84.3
40
87.0
19
79.2
Eased somewhat
8
11.4
4
8.7
4
16.7
Eased considerably
0
0.0
0
0.0
0
0.0
70
100
46
100
24
100
Remained basically unchanged
Total
0.0
c. Spreads of loan rates over your bank's cost of funds (wider spreads=tightened, narrower
spreads=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
1
1.4
1
2.2
0
Tightened somewhat
5
7.1
3
6.5
2
8.3
Remained basically unchanged
44
62.9
28
60.9
16
66.7
Eased somewhat
19
27.1
13
28.3
6
25.0
1
1.4
1
2.2
0
0.0
70
100
46
100
24
100
Eased considerably
Total
0.0
d. Loan-to-value ratios (lower ratios=tightened, higher ratios=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
6
8.6
4
8.7
2
8.3
58
82.9
38
82.6
20
83.3
Eased somewhat
6
8.6
4
8.7
2
8.3
Eased considerably
0
0.0
0
0.0
0
0.0
70
100
46
100
24
100
Remained basically unchanged
Total
0.0
e. Debt service coverage ratios (higher ratios=tightened, lower ratios=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
1
1.4
0
0.0
1
4.2
65
92.9
42
91.3
23
95.8
Eased somewhat
4
5.7
4
8.7
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
70
100
46
100
24
100
Remained basically unchanged
Total
0.0
f. Market areas served (reduced market areas=tightened, expanded market areas=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
1
1.4
1
2.2
0
0.0
60
85.7
39
84.8
21
87.5
Eased somewhat
9
12.9
6
13.0
3
12.5
Eased considerably
0
0.0
0
0.0
0
0.0
70
100
46
100
24
100
Remained basically unchanged
Total
0.0
g. Length of interest-only payment period (shorter interest-only periods=tightened, longer interest-only
periods=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
1
1.4
1
2.2
0
0.0
Remained basically unchanged
56
81.2
34
75.6
22
91.7
Eased somewhat
12
17.4
10
22.2
2
8.3
0
0.0
0
0.0
0
0.0
69
100
45
100
24
100
Eased considerably
Total
0.0
29. Over the past year, how has your bank changed the following policies on loans secured by multifamily
residential properties?
a. Maximum loan size
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
3
4.2
2
4.3
1
4.0
Remained basically unchanged
54
76.1
33
71.7
21
84.0
Eased somewhat
14
19.7
11
23.9
3
12.0
0
0.0
0
0.0
0
0.0
71
100
46
100
25
100
Eased considerably
Total
0.0
b. Maximum loan maturity
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
3
4.2
1
2.2
2
8.0
63
88.7
42
91.3
21
84.0
Eased somewhat
5
7.0
3
6.5
2
8.0
Eased considerably
0
0.0
0
0.0
0
0.0
71
100
46
100
25
100
Remained basically unchanged
Total
0.0
c. Spreads of loan rates over your bank's cost of funds (wider spreads=tightened, narrower
spreads=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
1
1.4
1
2.2
0
0.0
Tightened somewhat
7
9.9
4
8.7
3
12.0
Remained basically unchanged
47
66.2
29
63.0
18
72.0
Eased somewhat
14
19.7
10
21.7
4
16.0
2
2.8
2
4.3
0
0.0
71
100
46
100
25
100
Eased considerably
Total
d. Loan-to-value ratios (lower ratios=tightened, higher ratios=eased)
All Respondents
Banks
Tightened considerably
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
0
0.0
0
0.0
0
0.0
Tightened somewhat
12
16.9
5
10.9
7
28.0
Remained basically unchanged
55
77.5
37
80.4
18
72.0
Eased somewhat
4
5.6
4
8.7
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
71
100
46
100
25
100
Total
e. Debt service coverage ratios (higher ratios=tightened, lower ratios=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
0.0
Tightened somewhat
5
7.0
2
4.3
3
12.0
Remained basically unchanged
60
84.5
38
82.6
22
88.0
Eased somewhat
6
8.5
6
13.0
0
0.0
Eased considerably
0
0.0
0
0.0
0
0.0
71
100
46
100
25
100
Total
f. Market areas served (reduced market areas=tightened, expanded market areas=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
0.0
Tightened somewhat
6
8.5
5
10.9
1
4.0
Remained basically unchanged
57
80.3
36
78.3
21
84.0
Eased somewhat
8
11.3
5
10.9
3
12.0
Eased considerably
0
0.0
0
0.0
0
0.0
71
100
46
100
25
100
Total
g. Length of interest-only payment period (shorter interest-only periods=tightened, longer interest-only
periods=eased)
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Tightened considerably
0
0.0
0
0.0
0
Tightened somewhat
3
4.2
2
4.3
1
4.0
60
84.5
37
80.4
23
92.0
Eased somewhat
7
9.9
6
13.0
1
4.0
Eased considerably
1
1.4
1
2.2
0
0.0
71
100
46
100
25
100
Remained basically unchanged
Total
0.0
30. If your bank has tightened or eased its credit policies for CRE loans over the past year (as described in
questions 27 through 29 above), how important have been the following possible reasons for the change?
A. Possible reasons for tightening credit policies on CRE loans over the past year:
a. Less favorable or more uncertain outlook for CRE property prices
All Respondents
Banks
Not important
Somewhat important
Very important
Total
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
5
19.2
2
13.3
3
27.3
14
53.8
10
66.7
4
36.4
7
26.9
3
20.0
4
36.4
26
100
15
100
11
100
b. Less favorable or more uncertain outlook for vacancy rates or other fundamentals on CRE
properties
All Respondents
Banks
Not important
Somewhat important
Very important
Total
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
6
23.1
3
20.0
3
27.3
15
57.7
10
66.7
5
45.5
5
19.2
2
13.3
3
27.3
26
100
15
100
11
100
c. Less favorable or more uncertain capitalization rates (the ratio of current net operating income to the
original sale price or current market value) on CRE properties
All Respondents
Banks
Not important
Somewhat important
Very important
Total
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
6
22.2
5
31.2
1
9.1
16
59.3
9
56.2
7
63.6
5
18.5
2
12.5
3
27.3
27
100
16
100
11
100
d. Less aggressive competition from other banks or nonbank financial institutions (other financial
intermediaries or the capital markets)
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
18
72.0
11
78.6
7
63.6
Somewhat important
7
28.0
3
21.4
4
36.4
Very important
0
0.0
0
0.0
0
0.0
25
100
14
100
11
100
Total
e. Reduced tolerance for risk
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
11
42.3
7
46.7
4
Somewhat important
12
46.2
7
46.7
5
45.5
3
11.5
1
6.7
2
18.2
26
100
15
100
11
100
Very important
Total
36.4
f. Decreased ability to securitize CRE loans
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
20
80.0
10
71.4
10
Somewhat important
4
16.0
4
28.6
0
0.0
Very important
1
4.0
0
0.0
1
9.1
25
100
14
100
11
100
Total
90.9
g. Increased concerns about my bank’s capital adequacy or liquidity position
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
21
84.0
11
78.6
10
Somewhat important
3
12.0
3
21.4
0
0.0
Very important
1
4.0
0
0.0
1
9.1
25
100
14
100
11
100
Total
90.9
h. Increased concerns about the effects of regulatory changes or supervisory actions
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
18
69.2
10
66.7
8
Somewhat important
5
19.2
4
26.7
1
9.1
Very important
3
11.5
1
6.7
2
18.2
26
100
15
100
11
100
Total
72.7
30. If your bank has tightened or eased its credit policies for CRE loans over the past year (as described in
questions 27 through 29 above), how important have been the following possible reasons for the change?
B. Possible reasons for easing credit policies on CRE loans over the past year:
a. More favorable or less uncertain outlook for CRE property prices
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
26
72.2
19
79.2
7
58.3
Somewhat important
7
19.4
4
16.7
3
25.0
Very important
3
8.3
1
4.2
2
16.7
36
100
24
100
12
100
Total
b. More favorable or less uncertain outlook for vacancy rates or other fundamentals on CRE properties
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
25
69.4
19
79.2
6
50.0
Somewhat important
7
19.4
5
20.8
2
16.7
Very important
4
11.1
0
0.0
4
33.3
36
100
24
100
12
100
Total
c. More favorable or less uncertain capitalization rates (the ratio of current net operating income to the
original sale price or current market value) on CRE properties
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
27
75.0
20
83.3
7
58.3
Somewhat important
8
22.2
4
16.7
4
33.3
Very important
1
2.8
0
0.0
1
8.3
36
100
24
100
12
100
Total
d. More aggressive competition from other banks or nonbank financial institutions (other financial
intermediaries or the capital markets)
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
6
15.4
5
20.0
1
7.1
Somewhat important
16
41.0
7
28.0
9
64.3
Very important
17
43.6
13
52.0
4
28.6
Total
39
100
25
100
14
100
e. Increased tolerance for risk
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
21
58.3
12
50.0
9
75.0
Somewhat important
11
30.6
9
37.5
2
16.7
4
11.1
3
12.5
1
8.3
36
100
24
100
12
100
Very important
Total
f. Increased ability to securitize CRE loans
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
31
86.1
21
87.5
10
83.3
Somewhat important
3
8.3
2
8.3
1
8.3
Very important
2
5.6
1
4.2
1
8.3
36
100
24
100
12
100
Total
g. Reduced concerns about my bank’s capital adequacy or liquidity position
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
29
80.6
20
83.3
9
75.0
Somewhat important
6
16.7
4
16.7
2
16.7
Very important
1
2.8
0
0.0
1
8.3
36
100
24
100
12
100
Total
h. Reduced concerns about the effects of regulatory changes or supervisory actions
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
30
83.3
20
83.3
10
Somewhat important
4
11.1
4
16.7
0
0.0
Very important
2
5.6
0
0.0
2
16.7
36
100
24
100
12
100
Total
83.3
31. If demand for CRE loans from your bank has strengthened or weakened over the past year, how important have
been the following possible reasons for the change?
A. Possible reasons for stronger CRE loan demand over the past year:
a. Customers acquisition or development of properties increased
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
10
34.5
5
26.3
5
50.0
Somewhat important
14
48.3
12
63.2
2
20.0
5
17.2
2
10.5
3
30.0
29
100
19
100
10
100
Very important
Total
b. Customers outlook for rental demand became more favorable or less uncertain
All Respondents
Banks
Not important
Somewhat important
Very important
Total
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
8
28.6
5
27.8
3
30.0
17
60.7
11
61.1
6
60.0
3
10.7
2
11.1
1
10.0
28
100
18
100
10
100
c. General level of interest rates decreased
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
21
75.0
12
66.7
9
90.0
Somewhat important
7
25.0
6
33.3
1
10.0
Very important
0
0.0
0
0.0
0
0.0
28
100
18
100
10
100
Total
d. Customer internally generated funds decreased
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
21
75.0
13
72.2
8
80.0
Somewhat important
7
25.0
5
27.8
2
20.0
Very important
0
0.0
0
0.0
0
0.0
28
100
18
100
10
100
Total
e. Customer borrowing shifted to your bank from other bank or nonbank sources because these other
sources became less attractive
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
16
57.1
10
55.6
6
60.0
Somewhat important
11
39.3
7
38.9
4
40.0
1
3.6
1
5.6
0
0.0
28
100
18
100
10
100
Very important
Total
f. Customer precautionary demand for cash and liquidity increased
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
19
67.9
13
72.2
6
60.0
Somewhat important
8
28.6
4
22.2
4
40.0
Very important
1
3.6
1
5.6
0
0.0
28
100
18
100
10
100
Total
31. If demand for CRE loans from your bank has strengthened or weakened over the past year, how important have
been the following possible reasons for the change?
B. Possible reasons for weaker CRE loan demand over the past year:
a. Customers acquisition or development of properties decreased
All Respondents
Banks
Not important
Somewhat important
Very important
Total
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
12
46.2
8
44.4
4
50.0
9
34.6
5
27.8
4
50.0
5
19.2
5
27.8
0
0.0
26
100
18
100
8
100
b. Customers outlook for rental demand became less favorable or more uncertain
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
14
53.8
10
55.6
4
50.0
Somewhat important
11
42.3
7
38.9
4
50.0
1
3.8
1
5.6
0
0.0
26
100
18
100
8
100
Very important
Total
c. General level of interest rates increased
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
11
44.0
8
47.1
3
37.5
Somewhat important
13
52.0
8
47.1
5
62.5
1
4.0
1
5.9
0
0.0
25
100
17
100
8
100
Very important
Total
d. Customer internally generated funds increased
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
20
76.9
16
88.9
4
50.0
Somewhat important
6
23.1
2
11.1
4
50.0
Very important
0
0.0
0
0.0
0
0.0
26
100
18
100
8
100
Total
e. Customer borrowing shifted from your bank to other bank or nonbank sources because these other
sources became more attractive
All Respondents
Banks
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
Not important
12
46.2
9
50.0
3
37.5
Somewhat important
13
50.0
8
44.4
5
62.5
1
3.8
1
5.6
0
0.0
26
100
18
100
8
100
Very important
Total
f. Customer precautionary demand for cash and liquidity decreased
All Respondents
Banks
Not important
Large Banks
Percent
Banks
Other Banks
Percent
Banks
Percent
18
72.0
13
76.5
5
62.5
Somewhat important
7
28.0
4
23.5
3
37.5
Very important
0
0.0
0
0.0
0
0.0
25
100
17
100
8
100
Total
1. The sample is selected from among the largest banks in each Federal Reserve District. In the table, large banks
are defined as those with total domestic assets of $20 billion or more as of December 31, 2017. The combined
assets of the 46 large banks totaled $10.3 trillion, compared to $10.5 trillion for the entire panel of 72 banks, and
$14.7 trillion for all domestically chartered, federally insured commercial banks. Return to text
Last Update: May 8, 2017
RESTRICTED FR
Table 2
Senior Loan Officer Opinion Survey on Bank Lending Practices at Selected Branches
and Agencies of Foreign Banks in the United States 1
(Status of Policy as of April 2018)
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—changed?
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
1
4.5
19
86.4
Eased somewhat
2
9.1
Eased considerably
0
0.0
22
100
Remained basically unchanged
Total
0.0
2. For applications for C&I loans or credit lines—other than those to be used to finance mergers and
acquisitions—that your bank currently is willing to approve, how have the terms of those loans changed over the
past three months?
a. Maximum size of credit lines
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
18
81.8
Eased somewhat
4
18.2
Eased considerably
0
0.0
22
100
Remained basically unchanged
Total
0.0
b. Maximum maturity of loans or credit lines
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
22
100.0
Eased somewhat
0
0.0
Eased considerably
0
0.0
22
100
Remained basically unchanged
Total
0.0
c. Costs of credit lines
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
1
4.5
18
81.8
Eased somewhat
3
13.6
Eased considerably
0
0.0
22
100
Remained basically unchanged
Total
0.0
d. Spreads of loan rates over your bank's cost of funds (wider spreads=tightened, narrower
spreads=eased)
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
1
4.5
16
72.7
Eased somewhat
5
22.7
Eased considerably
0
0.0
22
100
Remained basically unchanged
Total
0.0
e. Premiums charged on riskier loans
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
1
4.5
19
86.4
Eased somewhat
2
9.1
Eased considerably
0
0.0
22
100
Remained basically unchanged
Total
0.0
f. Loan covenants
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
19
86.4
Eased somewhat
3
13.6
Eased considerably
0
0.0
22
100
Remained basically unchanged
Total
0.0
g. Collateralization requirements
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
21
95.5
Eased somewhat
1
4.5
Eased considerably
0
0.0
22
100
Remained basically unchanged
Total
0.0
h. Use of interest rate floors (more use=tightened, less use=eased)
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
18
85.7
Eased somewhat
3
14.3
Eased considerably
0
0.0
21
100
Remained basically unchanged
Total
0.0
3. If your bank has tightened or eased its credit standards or its terms for C&I loans or credit lines over the past
three months (as described in questions 1 and 2), how important have been the following possible reasons for the
change? (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
Responses are not reported when the number of respondents is 3 or fewer.
b. Less favorable or more uncertain economic outlook
Responses are not reported when the number of respondents is 3 or fewer.
c. Worsening of industry-specific problems (please specify industries)
Responses are not reported when the number of respondents is 3 or fewer.
d. Less 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. Reduced tolerance for risk
Responses are not reported when the number of respondents is 3 or fewer.
f. Decreased liquidity in the secondary market for these loans
Responses are not reported when the number of respondents is 3 or fewer.
g. Deterioration in your bank's current or expected liquidity position
Responses are not reported when the number of respondents is 3 or fewer.
h. Increased 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.
B. Possible reasons for easing credit standards or loan terms:
a. Improvement in your bank's current or expected capital position
All Respondents
Banks
Percent
Not important
5
83.3
Somewhat important
1
16.7
Very important
0
0.0
Total
6
100
b. More favorable or less uncertain economic outlook
All Respondents
Banks
Percent
Not important
3
50.0
Somewhat important
3
50.0
Very important
0
0.0
Total
6
100
c. Improvement in industry-specific problems (please specify industries)
All Respondents
Banks
Percent
Not important
4
66.7
Somewhat important
1
16.7
Very important
1
16.7
Total
6
100
d. More aggressive competition from other banks or nonbank lenders (other financial intermediaries or
the capital markets)
All Respondents
Banks
Percent
Not important
1
16.7
Somewhat important
1
16.7
Very important
4
66.7
Total
6
100
e. Increased tolerance for risk
All Respondents
Banks
Percent
Not important
4
66.7
Somewhat important
2
33.3
Very important
0
0.0
Total
6
100
f. Increased liquidity in the secondary market for these loans
All Respondents
Banks
Percent
Not important
5
83.3
Somewhat important
1
16.7
Very important
0
0.0
Total
6
100
g. Improvement in your bank's current or expected liquidity position
All Respondents
Banks
Percent
Not important
5
83.3
Somewhat important
1
16.7
Very important
0
0.0
Total
6
100
h. Reduced concerns about the effects of legislative changes, supervisory actions, or changes in
accounting standards
All Respondents
Banks
Percent
Not important
4
66.7
Somewhat important
2
33.3
Very important
0
0.0
Total
6
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.)
All Respondents
Banks
Percent
Substantially stronger
0
Moderately stronger
2
9.1
18
81.8
Moderately weaker
2
9.1
Substantially weaker
0
0.0
22
100
About the same
Total
0.0
5. If demand for C&I loans has strengthened or weakened over the past three months (as described in question 4),
how important have been the following possible reasons for the change? (Please respond to either A, B, or both as
appropriate.)
A. If stronger loan demand (answer 1 or 2 to question 4), possible reasons:
a. Customer inventory financing needs increased
Responses are not reported when the number of respondents is 3 or fewer.
b. Customer accounts receivable financing needs increased
Responses are not reported when the number of respondents is 3 or fewer.
c. Customer investment in plant or equipment increased
Responses are not reported when the number of respondents is 3 or fewer.
d. Customer internally generated funds decreased
Responses are not reported when the number of respondents is 3 or fewer.
e. Customer merger or acquisition financing needs increased
Responses are not reported when the number of respondents is 3 or fewer.
f. Customer borrowing shifted to your bank from other bank or nonbank sources because these other
sources became less attractive
Responses are not reported when the number of respondents is 3 or fewer.
g. Customer precautionary demand for cash and liquidity increased
Responses are not reported when the number of respondents is 3 or fewer.
B. If weaker loan demand (answer 4 or 5 to question 4), possible reasons:
a. Customer inventory financing needs decreased
Responses are not reported when the number of respondents is 3 or fewer.
b. Customer accounts receivable financing needs decreased
Responses are not reported when the number of respondents is 3 or fewer.
c. Customer investment in plant or equipment decreased
Responses are not reported when the number of respondents is 3 or fewer.
d. Customer internally generated funds increased
Responses are not reported when the number of respondents is 3 or fewer.
e. Customer merger or acquisition financing needs decreased
Responses are not reported when the number of respondents is 3 or fewer.
f. Customer borrowing shifted from your bank to other bank or nonbank sources because these other
sources became more attractive
Responses are not reported when the number of respondents is 3 or fewer.
g. Customer precautionary demand for cash and liquidity decreased
Responses are not reported when the number of respondents is 3 or fewer.
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
Banks
Percent
The number of inquiries has increased substantially
1
The number of inquiries has increased moderately
2
9.1
The number of inquiries has stayed about the same
18
81.8
The number of inquiries has decreased moderately
1
4.5
The number of inquiries has decreased substantially
0
0.0
22
100
Total
4.5
Questions 7-8 ask about commercial real estate (CRE) loans at your bank, including construction and land
development loans and loans secured by nonfarm nonresidential properties. Question 7 deals with changes in your
bank's standards over the past three months. Question 8 deals with changes in demand. If your bank's lending
standards or terms 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 standards or terms 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.
7. Over the past three months, how have your bank's credit standards for approving applications for CRE loans
changed?
All Respondents
Banks
Percent
Tightened considerably
0
0.0
Tightened somewhat
2
14.3
Remained basically unchanged
12
85.7
Eased somewhat
0
0.0
Eased considerably
0
0.0
14
100
Total
8. Apart from normal seasonal variation, how has demand for CRE 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
Banks
Percent
Substantially stronger
0
0.0
Moderately stronger
2
14.3
About the same
10
71.4
Moderately weaker
2
14.3
Substantially weaker
0
0.0
14
100
Total
9. Over the past year, how has your bank changed the following policies on construction and land development
loans?
a. Maximum loan size
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
11
100.0
Eased somewhat
0
0.0
Eased considerably
0
0.0
11
100
Remained basically unchanged
Total
0.0
b. Maximum loan maturity
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
10
90.9
Eased somewhat
1
9.1
Eased considerably
0
0.0
11
100
Remained basically unchanged
Total
0.0
c. Spreads of loan rates over your bank's cost of funds (wider spreads=tightened, narrower
spreads=eased)
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
Remained basically unchanged
9
81.8
Eased somewhat
1
9.1
Eased considerably
1
9.1
11
100
Total
0.0
d. Loan-to-value ratios (lower ratios=tightened, higher ratios=eased)
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
11
100.0
Eased somewhat
0
0.0
Eased considerably
0
0.0
11
100
Remained basically unchanged
Total
0.0
e. Debt service coverage ratios (higher ratios=tightened, lower ratios=eased)
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
11
100.0
Eased somewhat
0
0.0
Eased considerably
0
0.0
11
100
Remained basically unchanged
Total
0.0
f. Market areas served (reduced market areas=tightened, expanded market areas=eased)
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
10
90.9
Eased somewhat
1
9.1
Eased considerably
0
0.0
11
100
Remained basically unchanged
Total
0.0
g. Length of interest-only payment period (shorter interest-only periods=tightened, longer interest-only
periods=eased)
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
11
100.0
Eased somewhat
0
0.0
Eased considerably
0
0.0
11
100
Remained basically unchanged
Total
0.0
10. Over the past year, how has your bank changed the following policies on loans secured by nonfarmnonresidential properties?
a. Maximum loan size
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
13
92.9
Eased somewhat
1
7.1
Eased considerably
0
0.0
14
100
Remained basically unchanged
Total
0.0
b. Maximum loan maturity
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
13
92.9
Eased somewhat
1
7.1
Eased considerably
0
0.0
14
100
Remained basically unchanged
Total
0.0
c. Spreads of loan rates over your bank's cost of funds (wider spreads=tightened, narrower
spreads=eased)
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
1
7.1
10
71.4
Eased somewhat
2
14.3
Eased considerably
1
7.1
14
100
Remained basically unchanged
Total
0.0
d. Loan-to-value ratios (lower ratios=tightened, higher ratios=eased)
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
1
7.1
13
92.9
Eased somewhat
0
0.0
Eased considerably
0
0.0
14
100
Remained basically unchanged
Total
0.0
e. Debt service coverage ratios (higher ratios=tightened, lower ratios=eased)
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
14
100.0
Eased somewhat
0
0.0
Eased considerably
0
0.0
14
100
Remained basically unchanged
Total
0.0
f. Market areas served (reduced market areas=tightened, expanded market areas=eased)
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
12
85.7
Eased somewhat
2
14.3
Eased considerably
0
0.0
14
100
Remained basically unchanged
Total
0.0
g. Length of interest-only payment period (shorter interest-only periods=tightened, longer interest-only
periods=eased)
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
13
92.9
Eased somewhat
1
7.1
Eased considerably
0
0.0
14
100
Remained basically unchanged
Total
0.0
11. Over the past year, how has your bank changed the following policies on loans secured by multifamily
residential properties?
a. Maximum loan size
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
14
100.0
Eased somewhat
0
0.0
Eased considerably
0
0.0
14
100
Remained basically unchanged
Total
0.0
b. Maximum loan maturity
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
14
100.0
Eased somewhat
0
0.0
Eased considerably
0
0.0
14
100
Remained basically unchanged
Total
0.0
c. Spreads of loan rates over your bank's cost of funds (wider spreads=tightened, narrower
spreads=eased)
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
12
85.7
Eased somewhat
2
14.3
Eased considerably
0
0.0
14
100
Remained basically unchanged
Total
0.0
d. Loan-to-value ratios (lower ratios=tightened, higher ratios=eased)
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
1
7.1
12
85.7
Eased somewhat
1
7.1
Eased considerably
0
0.0
14
100
Remained basically unchanged
Total
0.0
e. Debt service coverage ratios (higher ratios=tightened, lower ratios=eased)
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
14
100.0
Eased somewhat
0
0.0
Eased considerably
0
0.0
14
100
Remained basically unchanged
Total
0.0
f. Market areas served (reduced market areas=tightened, expanded market areas=eased)
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
12
85.7
Eased somewhat
2
14.3
Eased considerably
0
0.0
14
100
Remained basically unchanged
Total
0.0
g. Length of interest-only payment period (shorter interest-only periods=tightened, longer interest-only
periods=eased)
All Respondents
Banks
Percent
Tightened considerably
0
Tightened somewhat
0
0.0
14
100.0
Eased somewhat
0
0.0
Eased considerably
0
0.0
14
100
Remained basically unchanged
Total
0.0
12. If your bank has tightened or eased its credit policies for CRE loans over the past year (as described in
questions 9 through 11 above), how important have been the following possible reasons for the change?
A. Possible reasons for tightening credit policies on CRE loans over the past year:
a. Less favorable or more uncertain outlook for CRE property prices
All Respondents
Banks
Percent
Not important
3
Somewhat important
0
75.0
0.0
Very important
1
25.0
Total
4
100
b. Less favorable or more uncertain outlook for vacancy rates or other fundamentals on CRE
properties
All Respondents
Banks
Percent
Not important
2
50.0
Somewhat important
1
25.0
Very important
1
25.0
Total
4
100
c. Less favorable or more uncertain capitalization rates (the ratio of current net operating income to the
original sale price or current market value) on CRE properties
All Respondents
Banks
Percent
Not important
2
50.0
Somewhat important
1
25.0
Very important
1
25.0
Total
4
100
d. Less aggressive competition from other banks or nonbank financial institutions (other financial
intermediaries or the capital markets)
All Respondents
Banks
Percent
Not important
3
75.0
Somewhat important
1
25.0
Very important
0
0.0
Total
4
100
e. Reduced tolerance for risk
All Respondents
Banks
Percent
Not important
1
25.0
Somewhat important
2
50.0
Very important
1
25.0
Total
4
100
f. Decreased ability to securitize CRE loans
All Respondents
Banks
Percent
Not important
4
100.0
Somewhat important
0
0.0
Very important
0
0.0
Total
4
100
g. Increased concerns about my bank’s capital adequacy or liquidity position
All Respondents
Banks
Percent
Not important
4
100.0
Somewhat important
0
0.0
Very important
0
0.0
Total
4
100
h. Increased concerns about the effects of regulatory changes or supervisory actions
All Respondents
Banks
Percent
Not important
3
Somewhat important
0
75.0
0.0
Very important
1
25.0
Total
4
100
12. If your bank has tightened or eased its credit policies for CRE loans over the past year (as described in
questions 9 through 11 above), how important have been the following possible reasons for the change?
B. Possible reasons for easing credit policies on CRE loans over the past year:
a. More favorable or less uncertain outlook for CRE property prices
All Respondents
Banks
Percent
Not important
4
Somewhat important
0
80.0
0.0
Very important
1
20.0
Total
5
100
b. More favorable or less uncertain outlook for vacancy rates or other fundamentals on CRE properties
All Respondents
Banks
Percent
Not important
3
60.0
Somewhat important
1
20.0
Very important
1
20.0
Total
5
100
c. More favorable or less uncertain capitalization rates (the ratio of current net operating income to the
original sale price or current market value) on CRE properties
All Respondents
Banks
Percent
Not important
4
Somewhat important
0
80.0
0.0
Very important
1
20.0
Total
5
100
d. More aggressive competition from other banks or nonbank financial institutions (other financial
intermediaries or the capital markets)
All Respondents
Banks
Percent
Not important
1
20.0
Somewhat important
1
20.0
Very important
3
60.0
Total
5
100
e. Increased tolerance for risk
All Respondents
Banks
Percent
Not important
4
80.0
Somewhat important
1
20.0
Very important
0
0.0
Total
5
100
f. Increased ability to securitize CRE loans
All Respondents
Banks
Percent
Not important
5
100.0
Somewhat important
0
0.0
Very important
0
0.0
Total
5
100
g. Reduced concerns about my bank’s capital adequacy or liquidity position
All Respondents
Banks
Percent
Not important
5
100.0
Somewhat important
0
0.0
Very important
0
0.0
Total
5
100
h. Reduced concerns about the effects of regulatory changes or supervisory actions
All Respondents
Banks
Percent
Not important
4
Somewhat important
0
80.0
0.0
Very important
1
20.0
Total
5
100
13. If demand for CRE loans from your bank has strengthened or weakened over the past year, how important have
been the following possible reasons for the change?
A. Possible reasons for stronger CRE loan demand over the past year:
a. Customers acquisition or development of properties increased
All Respondents
Banks
Percent
Not important
1
25.0
Somewhat important
1
25.0
Very important
2
50.0
Total
4
100
b. Customers outlook for rental demand became more favorable or less uncertain
All Respondents
Banks
Percent
Not important
2
50.0
Somewhat important
1
25.0
Very important
1
25.0
Total
4
100
c. General level of interest rates decreased
All Respondents
Banks
Percent
Not important
3
Somewhat important
0
75.0
0.0
Very important
1
25.0
Total
4
100
d. Customer internally generated funds decreased
All Respondents
Banks
Percent
Not important
3
75.0
Somewhat important
1
25.0
Very important
0
0.0
Total
4
100
e. Customer borrowing shifted to your bank from other bank or nonbank sources because these other
sources became less attractive
All Respondents
Banks
Percent
Not important
2
50.0
Somewhat important
2
50.0
Very important
0
0.0
Total
4
100
f. Customer precautionary demand for cash and liquidity increased
All Respondents
Banks
Percent
Not important
3
75.0
Somewhat important
1
25.0
Very important
0
0.0
Total
4
100
13. If demand for CRE loans from your bank has strengthened or weakened over the past year, how important have
been the following possible reasons for the change?
B. Possible reasons for weaker CRE loan demand over the past year:
a. Customers acquisition or development of properties decreased
All Respondents
Banks
Percent
Not important
0
0.0
Somewhat important
4
80.0
Very important
1
20.0
Total
5
100
b. Customers outlook for rental demand became less favorable or more uncertain
All Respondents
Banks
Percent
Not important
2
40.0
Somewhat important
2
40.0
Very important
1
20.0
Total
5
100
c. General level of interest rates increased
All Respondents
Banks
Percent
Not important
1
20.0
Somewhat important
2
40.0
Very important
2
40.0
Total
5
100
d. Customer internally generated funds increased
All Respondents
Banks
Percent
Not important
5
100.0
Somewhat important
0
0.0
Very important
0
0.0
Total
5
100
e. Customer borrowing shifted from your bank to other bank or nonbank sources because these other
sources became more attractive
All Respondents
Banks
Percent
Not important
1
20.0
Somewhat important
3
60.0
Very important
1
20.0
Total
5
100
f. Customer precautionary demand for cash and liquidity decreased
All Respondents
Banks
Percent
Not important
3
60.0
Somewhat important
2
40.0
Very important
0
0.0
Total
5
100
1. As of December 31, 2017, the 22 respondents had combined assets of $1.4 trillion, compared to $2.5 trillion for
all foreign-related banking institutions in the United States. The sample is selected from among the largest foreignrelated banking institutions in those Federal Reserve Districts where such institutions are common. Return to text
Last Update: May 8, 2017
| File Type | application/pdf |
| File Modified | 2018-05-24 |
| File Created | 2018-05-07 |