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Senior Loan Officer Opinion Survey on Bank Lending Practices
July 2008

Survey | Full report (PDF)
Table 1 |Table 2 | Chart data
Table 1 (PDF) | Table 2 (PDF) | Charts (PDF)

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 July 2008)

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.)

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 2 3.8 2 6.9 0 0.0
Tightened somewhat 28 53.8 14 48.3 14 60.9
Remained basically unchanged 22 42.3 13 44.8 9 39.1
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 29 100.0 23 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 2 3.8 2 6.9 0 0.0
Tightened somewhat 32 61.5 16 55.2 16 69.6
Remained basically unchanged 18 34.6 11 37.9 7 30.4
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 29 100.0 23 100.0

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?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 1 1.9 1 3.4 0 0.0
Tightened somewhat 19 36.5 11 37.9 8 34.8
Remained basically unchanged 32 61.5 17 58.6 15 65.2
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 29 100.0 23 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 1 1.9 1 3.4 0 0.0
Tightened somewhat 17 32.7 12 41.4 5 21.7
Remained basically unchanged 34 65.4 16 55.2 18 78.3
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 29 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 5 9.6 4 13.8 1 4.3
Tightened somewhat 33 63.5 18 62.1 15 65.2
Remained basically unchanged 14 26.9 7 24.1 7 30.4
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 29 100.0 23 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 8 15.4 5 17.2 3 13.0
Tightened somewhat 34 65.4 19 65.5 15 65.2
Remained basically unchanged 10 19.2 5 17.2 5 21.7
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 29 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 15 28.8 8 27.6 7 30.4
Tightened somewhat 25 48.1 16 55.2 9 39.1
Remained basically unchanged 12 23.1 5 17.2 7 30.4
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 29 100.0 23 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 1 1.9 1 3.4 0 0.0
Tightened somewhat 24 46.2 13 44.8 11 47.8
Remained basically unchanged 27 51.9 15 51.7 12 52.2
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 29 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 1 1.9 0 0.0 1 4.3
Tightened somewhat 21 40.4 11 37.9 10 43.5
Remained basically unchanged 30 57.7 18 62.1 12 52.2
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 29 100.0 23 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 2 3.8 2 6.9 0 0.0
Tightened somewhat 15 28.8 8 27.6 7 30.4
Remained basically unchanged 35 67.3 19 65.5 16 69.6
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 29 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 18 34.6 13 44.8 5 21.7
Remained basically unchanged 34 65.4 16 55.2 18 78.3
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 29 100.0 23 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 2 3.8 1 3.4 1 4.3
Tightened somewhat 30 57.7 18 62.1 12 52.2
Remained basically unchanged 20 38.5 10 34.5 10 43.5
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 29 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 5 9.6 3 10.3 2 8.7
Tightened somewhat 32 61.5 18 62.1 14 60.9
Remained basically unchanged 15 28.8 8 27.6 7 30.4
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 29 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 13 25.0 6 20.7 7 30.4
Tightened somewhat 23 44.2 15 51.7 8 34.8
Remained basically unchanged 16 30.8 8 27.6 8 34.8
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 29 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 1 1.9 1 3.4 0 0.0
Tightened somewhat 24 46.2 13 44.8 11 47.8
Remained basically unchanged 27 51.9 15 51.7 12 52.2
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 29 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 1 1.9 0 0.0 1 4.3
Tightened somewhat 20 38.5 12 41.4 8 34.8
Remained basically unchanged 31 59.6 17 58.6 14 60.9
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 29 100.0 23 100.0

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?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 31 73.8 18 78.3 13 68.4
Somewhat important 9 21.4 4 17.4 5 26.3
Very important 2 4.8 1 4.3 1 5.3
Total 42 100.0 23 100.0 19 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 1 2.4 0 0.0 1 5.6
Somewhat important 19 45.2 10 41.7 9 50.0
Very important 22 52.4 14 58.3 8 44.4
Total 42 100.0 24 100.0 18 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 9 21.4 4 16.7 5 27.8
Somewhat important 20 47.6 14 58.3 6 33.3
Very important 13 31.0 6 25.0 7 38.9
Total 42 100.0 24 100.0 18 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 22 55.0 12 54.5 10 55.6
Somewhat important 13 32.5 6 27.3 7 38.9
Very important 5 12.5 4 18.2 1 5.6
Total 40 100.0 22 100.0 18 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 7 17.5 6 27.3 1 5.6
Somewhat important 23 57.5 11 50.0 12 66.7
Very important 10 25.0 5 22.7 5 27.8
Total 40 100.0 22 100.0 18 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 23 56.1 10 43.5 13 72.2
Somewhat important 14 34.1 11 47.8 3 16.7
Very important 4 9.8 2 8.7 2 11.1
Total 41 100.0 23 100.0 18 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 26 63.4 15 65.2 11 61.1
Somewhat important 13 31.7 8 34.8 5 27.8
Very important 2 4.9 0 0.0 2 11.1
Total 41 100.0 23 100.0 18 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 29 72.5 16 72.7 13 72.2
Somewhat important 7 17.5 5 22.7 2 11.1
Very important 4 10.0 1 4.5 3 16.7
Total 40 100.0 22 100.0 18 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 0 - 0 - 0 -
Somewhat important 0 - 0 - 0 -
Very important 0 - 0 - 0 -
Total 0 - 0 - 0 -

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 0 - 0 - 0 -
Somewhat important 0 - 0 - 0 -
Very important 0 - 0 - 0 -
Total 0 - 0 - 0 -
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 0 - 0 - 0 -
Somewhat important 0 - 0 - 0 -
Very important 0 - 0 - 0 -
Total 0 - 0 - 0 -
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 0 - 0 - 0 -
Somewhat important 0 - 0 - 0 -
Very important 0 - 0 - 0 -
Total 0 - 0 - 0 -

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 0 - 0 - 0 -
Somewhat important 0 - 0 - 0 -
Very important 0 - 0 - 0 -
Total 0 - 0 - 0 -
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 0 - 0 - 0 -
Somewhat important 0 - 0 - 0 -
Very important 0 - 0 - 0 -
Total 0 - 0 - 0 -
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 0 - 0 - 0 -
Somewhat important 0 - 0 - 0 -
Very important 0 - 0 - 0 -
Total 0 - 0 - 0 -

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 0 - 0 - 0 -
Somewhat important 0 - 0 - 0 -
Very important 0 - 0 - 0 -
Total 0 - 0 - 0 -

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 RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Substantially stronger 0 0.0 0 0.0 0 0.0
Moderately stronger 13 25.0 10 34.5 3 13.0
About the same 24 46.2 10 34.5 14 60.9
Moderately weaker 13 25.0 9 31.0 4 17.4
Substantially weaker 2 3.8 0 0.0 2 8.7
Total 52 100.0 29 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Substantially stronger 0 0.0 0 0.0 0 0.0
Moderately stronger 6 11.5 3 10.3 3 13.0
About the same 32 61.5 19 65.5 13 56.5
Moderately weaker 13 25.0 7 24.1 6 26.1
Substantially weaker 1 1.9 0 0.0 1 4.3
Total 52 100.0 29 100.0 23 100.0

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?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 9 69.2 7 77.8 2 50.0
Somewhat important 3 23.1 1 11.1 2 50.0
Very important 1 7.7 1 11.1 0 0.0
Total 13 100.0 9 100.0 4 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 9 64.3 7 70.0 2 50.0
Somewhat important 3 21.4 1 10.0 2 50.0
Very important 2 14.3 2 20.0 0 0.0
Total 14 100.0 10 100.0 4 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 10 76.9 8 88.9 2 50.0
Somewhat important 3 23.1 1 11.1 2 50.0
Very important 0 0.0 0 0.0 0 0.0
Total 13 100.0 9 100.0 4 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 8 57.1 5 50.0 3 75.0
Somewhat important 5 35.7 4 40.0 1 25.0
Very important 1 7.1 1 10.0 0 0.0
Total 14 100.0 10 100.0 4 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 12 92.3 8 88.9 4 100.0
Somewhat important 0 0.0 0 0.0 0 0.0
Very important 1 7.7 1 11.1 0 0.0
Total 13 100.0 9 100.0 4 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 1 7.7 0 0.0 1 25.0
Somewhat important 4 30.8 2 22.2 2 50.0
Very important 8 61.5 7 77.8 1 25.0
Total 13 100.0 9 100.0 4 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 4 26.7 4 40.0 0 0.0
Somewhat important 9 60.0 5 50.0 4 80.0
Very important 2 13.3 1 10.0 1 20.0
Total 15 100.0 10 100.0 5 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 5 33.3 4 40.0 1 20.0
Somewhat important 9 60.0 6 60.0 3 60.0
Very important 1 6.7 0 0.0 1 20.0
Total 15 100.0 10 100.0 5 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 0 0.0 0 0.0 0 0.0
Somewhat important 9 60.0 7 70.0 2 40.0
Very important 6 40.0 3 30.0 3 60.0
Total 15 100.0 10 100.0 5 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 10 66.7 8 80.0 2 40.0
Somewhat important 5 33.3 2 20.0 3 60.0
Very important 0 0.0 0 0.0 0 0.0
Total 15 100.0 10 100.0 5 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 5 33.3 3 30.0 2 40.0
Somewhat important 6 40.0 4 40.0 2 40.0
Very important 4 26.7 3 30.0 1 20.0
Total 15 100.0 10 100.0 5 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 15 100.0 10 100.0 5 100.0
Somewhat important 0 0.0 0 0.0 0 0.0
Very important 0 0.0 0 0.0 0 0.0
Total 15 100.0 10 100.0 5 100.0

6. At your bank, 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 C&I lines as opposed to the refinancing of existing loans.)

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
The number of inquiries has increased substantially 2 3.8 2 6.9 0 0.0
The number of inquiries has increased moderately 13 25.0 9 31.0 4 17.4
The number of inquiries has stayed about the same 26 50.0 11 37.9 15 65.2
The number of inquiries has decreased moderately 9 17.3 7 24.1 2 8.7
The number of inquiries has decreased substantially 2 3.8 0 0.0 2 8.7
Total 52 100.0 29 100.0 23 100.0

Questions 7-8 ask about commercial real estate loans at your bank, including construction and land development loans and loans secured by nonfarm nonresidential real estate. Question 7 deals with changes in your bank's standards over the last 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 commercial real estate loans changed?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 15 28.8 8 27.6 7 30.4
Tightened somewhat 27 51.9 17 58.6 10 43.5
Remained basically unchanged 10 19.2 4 13.8 6 26.1
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 29 100.0 23 100.0

8. Apart from normal seasonal variation, how has demand for commercial real estate loans changed over the past three months?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Substantially stronger 1 1.9 0 0.0 1 4.3
Moderately stronger 9 17.3 4 13.8 5 21.7
About the same 16 30.8 8 27.6 8 34.8
Moderately weaker 16 30.8 10 34.5 6 26.1
Substantially weaker 10 19.2 7 24.1 3 13.0
Total 52 100.0 29 100.0 23 100.0

Questions 9-10 ask about three categories of residential mortgage loans at your bank—prime residential mortgages, nontraditional residential mortgages, and subprime residential mortgages. Question 9 deals with changes in your bank's credit standards for loans in each of these categories over the past three months. Question 10 deals with changes in demand for loans in each of these categories over the same period. 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.

For the purposes of this survey, please use the following definitions of these loan categories (note that the loan categories are not mutually exclusive) and include first-lien loans only:

9. Over the past three months, how have your bank's credit standards for approving applications from individuals for mortgage loans to purchase homes changed?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 2 4.0 1 3.6 1 4.5
Tightened somewhat 35 70.0 21 75.0 14 63.6
Remained basically unchanged 13 26.0 6 21.4 7 31.8
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 50 100.0 28 100.0 22 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 10 31.3 7 35.0 3 25.0
Tightened somewhat 17 53.1 10 50.0 7 58.3
Remained basically unchanged 5 15.6 3 15.0 2 16.7
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 32 100.0 20 100.0 12 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 2 28.6 2 40.0 0 0.0
Tightened somewhat 4 57.1 2 40.0 2 100.0
Remained basically unchanged 1 14.3 1 20.0 0 0.0
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 7 100.0 5 100.0 2 100.0

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

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Substantially stronger 2 4.1 1 3.7 1 4.5
Moderately stronger 9 18.4 6 22.2 3 13.6
About the same 12 24.5 6 22.2 6 27.3
Moderately weaker 25 51.0 14 51.9 11 50.0
Substantially weaker 1 2.0 0 0.0 1 4.5
Total 49 100.0 27 100.0 22 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Substantially stronger 0 0.0 0 0.0 0 0.0
Moderately stronger 5 15.6 3 15.0 2 16.7
About the same 7 21.9 4 20.0 3 25.0
Moderately weaker 16 50.0 11 55.0 5 41.7
Substantially weaker 4 12.5 2 10.0 2 16.7
Total 32 100.0 20 100.0 12 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Substantially stronger 0 0.0 0 0.0 0 0.0
Moderately stronger 2 28.6 1 20.0 1 50.0
About the same 1 14.3 1 20.0 0 0.0
Moderately weaker 2 28.6 2 40.0 0 0.0
Substantially weaker 2 28.6 1 20.0 1 50.0
Total 7 100.0 5 100.0 2 100.0

Questions 11-12 ask about revolving home equity lines of credit at your bank. Question 11 deals with changes in your bank's credit standards over the last three months. Question 12 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.

11. Over the past three months, how have your bank's credit standards for approving applications for revolving home equity lines of credit changed?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 11 21.6 9 32.1 2 8.7
Tightened somewhat 30 58.8 17 60.7 13 56.5
Remained basically unchanged 10 19.6 2 7.1 8 34.8
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 51 100.0 28 100.0 23 100.0

12. 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 RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Substantially stronger 2 3.9 2 7.1 0 0.0
Moderately stronger 10 19.6 6 21.4 4 17.4
About the same 22 43.1 10 35.7 12 52.2
Moderately weaker 13 25.5 8 28.6 5 21.7
Substantially weaker 4 7.8 2 7.1 2 8.7
Total 51 100.0 28 100.0 23 100.0

The Economic Stimulus Act of 2008, signed into law on February 13, raised the conforming loan limit through the end of 2008 for a first mortgage on a single-family home in the contiguous United States from $417,000 to 125 percent of the median house price in certain high-cost areas, with an overall cap of $729,750.2 Questions 13-15 ask about your bank’s past and expected securitizations with, or sales to, Fannie Mae and Freddie Mac (the GSEs) of mortgage loans that do not conform to previous loan size limits but do conform under the new limits (conforming-jumbo mortgage loans).

13. Over the past three months, has your bank securitized with, or sold to, the GSEs any conforming-jumbo mortgage loans? (Please also consider loans in the process of being originated.)

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Yes, my bank has securitized or sold such loans 16 32.0 11 39.3 5 22.7
No, my bank has neither securitized nor sold such loans 27 54.0 16 57.1 11 50.0
My bank has not originated any conforming-jumbo mortgage loans 7 14.0 1 3.6 6 27.3
Total 50 100.0 28 100.0 22 100.0

14. Over the next six months, do you expect your bank to securitize with, or sell to, the GSEs any conforming-jumbo mortgage loans?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Yes, I expect my bank to securitize or sell such loans 22 44.0 16 57.1 6 27.3
No, I do not expect my bank to either securitize or sell such loans 22 44.0 11 39.3 11 50.0
I do not expect that my bank will originate any conforming-jumbo mortgage loans 6 12.0 1 3.6 5 22.7
Total 50 100.0 28 100.0 22 100.0

15. If your bank has not or is not expected to either securitize with, or sell to, the GSEs any conforming-jumbo mortgage loans (answer 2 to questions 13 and 14), how important are the following possible reasons for not doing so?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 13 54.2 5 41.7 8 66.7
Somewhat important 8 33.3 5 41.7 3 25.0
Very important 3 12.5 2 16.7 1 8.3
Total 24 100.0 12 100.0 12 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 15 62.5 8 66.7 7 58.3
Somewhat important 8 33.3 3 25.0 5 41.7
Very important 1 4.2 1 8.3 0 0.0
Total 24 100.0 12 100.0 12 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 12 50.0 6 50.0 6 50.0
Somewhat important 7 29.2 3 25.0 4 33.3
Very important 5 20.8 3 25.0 2 16.7
Total 24 100.0 12 100.0 12 100.0

Questions 16-21 ask about consumer lending at your bank. Question 16 deals with changes in your bank's willingness to make consumer loans over the past three months. Questions 17-20 deal with changes in credit standards and loan terms over the same period. Question 21 deals 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.

16. Please indicate your bank's willingness to make consumer installment loans now as opposed to three months ago.

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Much more willing 0 0.0 0 0.0 0 0.0
Somewhat more willing 1 2.0 1 3.7 0 0.0
About unchanged 31 62.0 15 55.6 16 69.6
Somewhat less willing 17 34.0 11 40.7 6 26.1
Much less willing 1 2.0 0 0.0 1 4.3
Total 50 100.0 27 100.0 23 100.0

17. Over the past three months, how have your bank's credit standards for approving applications for credit cards from individuals or households changed?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 1 3.0 0 0.0 1 6.7
Tightened somewhat 21 63.6 15 83.3 6 40.0
Remained basically unchanged 11 33.3 3 16.7 8 53.3
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 33 100.0 18 100.0 15 100.0

18. Over the past three months, how have your bank's credit standards for approving applications for consumer loans other than credit card loans changed?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 2 4.1 1 3.7 1 4.5
Tightened somewhat 31 63.3 18 66.7 13 59.1
Remained basically unchanged 16 32.7 8 29.6 8 36.4
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 49 100.0 27 100.0 22 100.0

19. 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?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 1 3.3 1 5.9 0 0.0
Tightened somewhat 13 43.3 9 52.9 4 30.8
Remained basically unchanged 16 53.3 7 41.2 9 69.2
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 30 100.0 17 100.0 13 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 11 36.7 7 41.2 4 30.8
Remained basically unchanged 18 60.0 9 52.9 9 69.2
Eased somewhat 1 3.3 1 5.9 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 30 100.0 17 100.0 13 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 3 10.0 1 5.9 2 15.4
Remained basically unchanged 27 90.0 16 94.1 11 84.6
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 30 100.0 17 100.0 13 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 17 56.7 12 70.6 5 38.5
Remained basically unchanged 13 43.3 5 29.4 8 61.5
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 30 100.0 17 100.0 13 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 2 6.7 2 11.8 0 0.0
Tightened somewhat 13 43.3 8 47.1 5 38.5
Remained basically unchanged 15 50.0 7 41.2 8 61.5
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 30 100.0 17 100.0 13 100.0

20. Over the past three months, how has your bank changed the following terms and conditions on consumer loans other than credit card loans?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 11 22.4 8 29.6 3 13.6
Remained basically unchanged 38 77.6 19 70.4 19 86.4
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 49 100.0 27 100.0 22 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 3 6.1 0 0.0 3 13.6
Tightened somewhat 23 46.9 15 55.6 8 36.4
Remained basically unchanged 22 44.9 11 40.7 11 50.0
Eased somewhat 1 2.0 1 3.7 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 49 100.0 27 100.0 22 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 2 4.2 2 7.4 0 0.0
Tightened somewhat 21 43.8 13 48.1 8 38.1
Remained basically unchanged 25 52.1 12 44.4 13 61.9
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 48 100.0 27 100.0 21 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 3 6.1 2 7.4 1 4.5
Tightened somewhat 26 53.1 15 55.6 11 50.0
Remained basically unchanged 20 40.8 10 37.0 10 45.5
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 49 100.0 27 100.0 22 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 4 8.2 3 11.1 1 4.5
Tightened somewhat 20 40.8 9 33.3 11 50.0
Remained basically unchanged 25 51.0 15 55.6 10 45.5
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 49 100.0 27 100.0 22 100.0

21. Apart from normal seasonal variation, how has demand for consumer loans of all types changed over the past three months?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Substantially stronger 0 0.0 0 0.0 0 0.0
Moderately stronger 6 12.0 4 14.8 2 8.7
About the same 23 46.0 14 51.9 9 39.1
Moderately weaker 20 40.0 9 33.3 11 47.8
Substantially weaker 1 2.0 0 0.0 1 4.3
Total 50 100.0 27 100.0 23 100.0

In recent quarters, significant fractions of survey respondents have reported having tightened their credit standards on a broad range of loan types. Questions 22-23 ask about your expectations for changes in credit standards at your bank through the end of 2008 and in the first half of 2009.

22. Assuming that economic activity progresses in line with consensus forecasts, how do you expect your bank’s credit standards on loans to businesses to change?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tighten considerably 1 2.0 0 0.0 1 4.3
Tighten somewhat 28 54.9 16 57.1 12 52.2
Remain basically unchanged 22 43.1 12 42.9 10 43.5
Ease somewhat 0 0.0 0 0.0 0 0.0
Ease considerably 0 0.0 0 0.0 0 0.0
Total 51 100.0 28 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tighten considerably 2 3.9 1 3.6 1 4.3
Tighten somewhat 22 43.1 13 46.4 9 39.1
Remain basically unchanged 27 52.9 14 50.0 13 56.5
Ease somewhat 0 0.0 0 0.0 0 0.0
Ease considerably 0 0.0 0 0.0 0 0.0
Total 51 100.0 28 100.0 23 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tighten considerably 7 14.0 3 11.1 4 17.4
Tighten somewhat 29 58.0 16 59.3 13 56.5
Remain basically unchanged 14 28.0 8 29.6 6 26.1
Ease somewhat 0 0.0 0 0.0 0 0.0
Ease considerably 0 0.0 0 0.0 0 0.0
Total 50 100.0 27 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tighten considerably 2 4.0 1 3.7 1 4.3
Tighten somewhat 24 48.0 11 40.7 13 56.5
Remain basically unchanged 24 48.0 15 55.6 9 39.1
Ease somewhat 0 0.0 0 0.0 0 0.0
Ease considerably 0 0.0 0 0.0 0 0.0
Total 50 100.0 27 100.0 23 100.0

23. Assuming that economic activity progresses in line with consensus forecasts, how do you expect your bank’s credit standards on loans to households to change?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tighten considerably 0 0.0 0 0.0 0 0.0
Tighten somewhat 22 44.0 14 50.0 8 36.4
Remain basically unchanged 28 56.0 14 50.0 14 63.6
Ease somewhat 0 0.0 0 0.0 0 0.0
Ease considerably 0 0.0 0 0.0 0 0.0
Total 50 100.0 28 100.0 22 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tighten considerably 0 0.0 0 0.0 0 0.0
Tighten somewhat 16 32.0 9 32.1 7 31.8
Remain basically unchanged 33 66.0 18 64.3 15 68.2
Ease somewhat 1 2.0 1 3.6 0 0.0
Ease considerably 0 0.0 0 0.0 0 0.0
Total 50 100.0 28 100.0 22 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tighten considerably 2 9.1 1 5.9 1 20.0
Tighten somewhat 12 54.5 8 47.1 4 80.0
Remain basically unchanged 7 31.8 7 41.2 0 0.0
Ease somewhat 0 0.0 0 0.0 0 0.0
Ease considerably 0 0.0 0 0.0 0 0.0
Total 22 100.0 17 100.0 5 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tighten considerably 1 5.0 1 6.3 0 0.0
Tighten somewhat 9 45.0 7 43.8 2 50.0
Remain basically unchanged 9 45.0 7 43.8 2 50.0
Ease somewhat 0 0.0 0 0.0 0 0.0
Ease considerably 0 0.0 0 0.0 0 0.0
Total 20 100.0 16 100.0 4 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tighten considerably 1 2.0 0 0.0 1 4.3
Tighten somewhat 30 58.8 19 67.9 11 47.8
Remain basically unchanged 19 37.3 9 32.1 10 43.5
Ease somewhat 1 2.0 0 0.0 1 4.3
Ease considerably 0 0.0 0 0.0 0 0.0
Total 51 100.0 28 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tighten considerably 0 0.0 0 0.0 0 0.0
Tighten somewhat 20 39.2 11 39.3 9 39.1
Remain basically unchanged 31 60.8 17 60.7 14 60.9
Ease somewhat 0 0.0 0 0.0 0 0.0
Ease considerably 0 0.0 0 0.0 0 0.0
Total 51 100.0 28 100.0 23 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tighten considerably 0 0.0 0 0.0 0 0.0
Tighten somewhat 19 61.3 11 64.7 8 57.1
Remain basically unchanged 12 38.7 6 35.3 6 42.9
Ease somewhat 0 0.0 0 0.0 0 0.0
Ease considerably 0 0.0 0 0.0 0 0.0
Total 31 100.0 17 100.0 14 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tighten considerably 0 0.0 0 0.0 0 0.0
Tighten somewhat 12 38.7 4 23.5 8 57.1
Remain basically unchanged 18 58.1 12 70.6 6 42.9
Ease somewhat 1 3.2 1 5.9 0 0.0
Ease considerably 0 0.0 0 0.0 0 0.0
Total 31 100.0 17 100.0 14 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tighten considerably 1 2.0 0 0.0 1 4.3
Tighten somewhat 25 50.0 15 55.6 10 43.5
Remain basically unchanged 24 48.0 12 44.4 12 52.2
Ease somewhat 0 0.0 0 0.0 0 0.0
Ease considerably 0 0.0 0 0.0 0 0.0
Total 50 100.0 27 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tighten considerably 0 0.0 0 0.0 0 0.0
Tighten somewhat 17 34.0 8 29.6 9 39.1
Remain basically unchanged 32 64.0 19 70.4 13 56.5
Ease somewhat 1 2.0 0 0.0 1 4.3
Ease considerably 0 0.0 0 0.0 0 0.0
Total 50 100.0 27 100.0 23 100.0


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 March 31, 2008. The combined assets of the 29 large banks totaled $5.8 trillion, compared to $6.1 trillion for the entire panel of 52 banks, and $9.8 trillion for all domestically chartered, federally insured commercial banks.

2. For additional information about the maximum conforming loan limits that will be in effect through the end of 2008 see: www.ofheo.gov/newsroom.aspx?ID=418&q1=0&q2=0 .

3. For definitions of prime, nontraditional and subprime residential mortgage loans, please refer to questions 9-10.

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