Business Lending:
C&I Loans (Commercial and Industrial loans):
Lending standards tightened for firms of all sizes.
% of Banks tightening was the highest in more than a year
Loan terms also tightened: smaller credit lines, higher premiums, stricter covenants and collateral requirements.
Demand weakened significantly across all firm sizes.
Key reasons for tightening: uncertain economic outlook, regulatory concerns, industry-specific problems, and reduced risk appetite.
CRE Loans (Commercial Real Estate):
Tighter standards for construction & land development and nonfarm nonresidential loans.
Multifamily loan standards were mostly unchanged.
Demand was mixed: weaker at most banks, but some large and foreign banks reported stronger demand.
Over the past year, banks tightened loan-to-value ratios, debt service coverage, and reduced interest-only periods.
Office loans saw the most tightening across all queried policy areas.
Household Lending:
Residential Real Estate Loans (RRE):
Lending standards mostly unchanged, except modest tightening for non-QM jumbo mortgages.
Demand weakened across most mortgage categories.
HELOC standards were stable, but demand for HELOCs modestly strengthened.
Consumer Loans:
Credit card lending standards tightened slightly (especially credit limits).
Auto and other consumer loan standards remained mostly unchanged.
Demand weakened for credit card and other consumer loans; auto loan demand was stable.
This article was written by Greg Michalowski at www.forexlive.com.
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