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Senior Loan Officer Opinion Survey on Bank Lending Practices
April 2009

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 April 2009)

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 3 5.7 2 6.7 1 4.3
Tightened somewhat 18 34.0 7 23.3 11 47.8
Remained basically unchanged 32 60.4 21 70.0 11 47.8
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 53 100.0 30 100.0 23 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 3 5.8 1 3.4 2 8.7
Tightened somewhat 19 36.5 9 31.0 10 43.5
Remained basically unchanged 30 57.7 19 65.5 11 47.8
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

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 4 7.5 2 6.7 2 8.7
Tightened somewhat 19 35.8 10 33.3 9 39.1
Remained basically unchanged 29 54.7 17 56.7 12 52.2
Eased somewhat 1 1.9 1 3.3 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 53 100.0 30 100.0 23 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 20 37.7 11 36.7 9 39.1
Remained basically unchanged 32 60.4 18 60.0 14 60.9
Eased somewhat 1 1.9 1 3.3 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 53 100.0 30 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 5 9.4 3 10.0 2 8.7
Tightened somewhat 32 60.4 19 63.3 13 56.5
Remained basically unchanged 15 28.3 7 23.3 8 34.8
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 1 1.9 1 3.3 0 0.0
Total 53 100.0 30 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 7 13.2 3 10.0 4 17.4
Tightened somewhat 36 67.9 20 66.7 16 69.6
Remained basically unchanged 9 17.0 6 20.0 3 13.0
Eased somewhat 1 1.9 1 3.3 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 53 100.0 30 100.0 23 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 10 18.9 6 20.0 4 17.4
Tightened somewhat 27 50.9 17 56.7 10 43.5
Remained basically unchanged 16 30.2 7 23.3 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 53 100.0 30 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 3 5.7 1 3.3 2 8.7
Tightened somewhat 16 30.2 8 26.7 8 34.8
Remained basically unchanged 34 64.2 21 70.0 13 56.5
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 53 100.0 30 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 3 5.7 1 3.3 2 8.7
Tightened somewhat 16 30.2 9 30.0 7 30.4
Remained basically unchanged 34 64.2 20 66.7 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 53 100.0 30 100.0 23 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 1 1.9 0 0.0 1 4.3
Tightened somewhat 15 28.8 8 27.6 7 30.4
Remained basically unchanged 36 69.2 21 72.4 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 0 0.0 0 0.0 0 0.0
Tightened somewhat 20 38.5 10 34.5 10 43.5
Remained basically unchanged 31 59.6 18 62.1 13 56.5
Eased somewhat 1 1.9 1 3.4 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 4 7.7 2 6.9 2 8.7
Tightened somewhat 28 53.8 16 55.2 12 52.2
Remained basically unchanged 19 36.5 10 34.5 9 39.1
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 1 1.9 1 3.4 0 0.0
Total 52 100.0 29 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 8 15.4 2 6.9 6 26.1
Tightened somewhat 32 61.5 19 65.5 13 56.5
Remained basically unchanged 11 21.2 7 24.1 4 17.4
Eased somewhat 1 1.9 1 3.4 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 11 21.2 7 24.1 4 17.4
Tightened somewhat 24 46.2 15 51.7 9 39.1
Remained basically unchanged 17 32.7 7 24.1 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 3 5.8 1 3.4 2 8.7
Tightened somewhat 14 26.9 8 27.6 6 26.1
Remained basically unchanged 35 67.3 20 69.0 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 3 5.8 1 3.4 2 8.7
Tightened somewhat 17 32.7 10 34.5 7 30.4
Remained basically unchanged 32 61.5 18 62.1 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 29 67.4 15 60.0 14 77.8
Somewhat important 10 23.3 8 32.0 2 11.1
Very important 4 9.3 2 8.0 2 11.1
Total 43 100.0 25 100.0 18 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 1 2.3 1 3.8 0 0.0
Somewhat important 22 50.0 11 42.3 11 61.1
Very important 21 47.7 14 53.8 7 38.9
Total 44 100.0 26 100.0 18 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 5 11.9 5 20.8 0 0.0
Somewhat important 23 54.8 10 41.7 13 72.2
Very important 14 33.3 9 37.5 5 27.8
Total 42 100.0 24 100.0 18 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 24 55.8 11 44.0 13 72.2
Somewhat important 13 30.2 9 36.0 4 22.2
Very important 6 14.0 5 20.0 1 5.6
Total 43 100.0 25 100.0 18 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 8 18.6 6 24.0 2 11.1
Somewhat important 28 65.1 16 64.0 12 66.7
Very important 7 16.3 3 12.0 4 22.2
Total 43 100.0 25 100.0 18 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 23 53.5 13 52.0 10 55.6
Somewhat important 13 30.2 9 36.0 4 22.2
Very important 7 16.3 3 12.0 4 22.2
Total 43 100.0 25 100.0 18 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 28 65.1 15 60.0 13 72.2
Somewhat important 14 32.6 9 36.0 5 27.8
Very important 1 2.3 1 4.0 0 0.0
Total 43 100.0 25 100.0 18 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 35 81.4 20 80.0 15 83.3
Somewhat important 6 14.0 4 16.0 2 11.1
Very important 2 4.7 1 4.0 1 5.6
Total 43 100.0 25 100.0 18 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 1 50.0 1 50.0 0 --
Somewhat important 1 50.0 1 50.0 0 --
Very important 0 0.0 0 0.0 0 --
Total 2 100.0 2 100.0 0 --
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 1 100.0 1 100.0 0 --
Somewhat important 0 0.0 0 0.0 0 --
Very important 0 0.0 0 0.0 0 --
Total 1 100.0 1 100.0 0 --
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 1 100.0 1 100.0 0 --
Somewhat important 0 0.0 0 0.0 0 --
Very important 0 0.0 0 0.0 0 --
Total 1 100.0 1 100.0 0 --

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 1 100.0 1 100.0 0 --
Somewhat important 0 0.0 0 0.0 0 --
Very important 0 0.0 0 0.0 0 --
Total 1 100.0 1 100.0 0 --
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 1 100.0 1 100.0 0 --
Somewhat important 0 0.0 0 0.0 0 --
Very important 0 0.0 0 0.0 0 --
Total 1 100.0 1 100.0 0 --
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 1 100.0 1 100.0 0 --
Somewhat important 0 0.0 0 0.0 0 --
Very important 0 0.0 0 0.0 0 --
Total 1 100.0 1 100.0 0 --

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 1 100.0 1 100.0 0 --
Somewhat important 0 0.0 0 0.0 0 --
Very important 0 0.0 0 0.0 0 --
Total 1 100.0 1 100.0 0 --
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 1 50.0 1 50.0 0 --
Somewhat important 1 50.0 1 50.0 0 --
Very important 0 0.0 0 0.0 0 --
Total 2 100.0 2 100.0 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 4 7.5 3 10.0 1 4.3
About the same 13 24.5 8 26.7 5 21.7
Moderately weaker 28 52.8 15 50.0 13 56.5
Substantially weaker 8 15.1 4 13.3 4 17.4
Total 53 100.0 30 100.0 23 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Substantially stronger 0 0.0 0 0.0 0 0.0
Moderately stronger 2 3.8 1 3.4 1 4.3
About the same 15 28.8 8 27.6 7 30.4
Moderately weaker 28 53.8 17 58.6 11 47.8
Substantially weaker 7 13.5 3 10.3 4 17.4
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 4 100.0 3 100.0 1 100.0
Somewhat important 0 0.0 0 0.0 0 0.0
Very important 0 0.0 0 0.0 0 0.0
Total 4 100.0 3 100.0 1 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 4 100.0 3 100.0 1 100.0
Somewhat important 0 0.0 0 0.0 0 0.0
Very important 0 0.0 0 0.0 0 0.0
Total 4 100.0 3 100.0 1 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 4 100.0 3 100.0 1 100.0
Somewhat important 0 0.0 0 0.0 0 0.0
Very important 0 0.0 0 0.0 0 0.0
Total 4 100.0 3 100.0 1 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 2 50.0 1 33.3 1 100.0
Somewhat important 2 50.0 2 66.7 0 0.0
Very important 0 0.0 0 0.0 0 0.0
Total 4 100.0 3 100.0 1 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 3 75.0 2 66.7 1 100.0
Somewhat important 1 25.0 1 33.3 0 0.0
Very important 0 0.0 0 0.0 0 0.0
Total 4 100.0 3 100.0 1 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 0 0.0 0 0.0 0 0.0
Somewhat important 2 50.0 1 33.3 1 100.0
Very important 2 50.0 2 66.7 0 0.0
Total 4 100.0 3 100.0 1 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 6 15.4 1 4.5 5 29.4
Somewhat important 28 71.8 19 86.4 9 52.9
Very important 5 12.8 2 9.1 3 17.6
Total 39 100.0 22 100.0 17 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 6 15.4 3 13.6 3 17.6
Somewhat important 29 74.4 17 77.3 12 70.6
Very important 4 10.3 2 9.1 2 11.8
Total 39 100.0 22 100.0 17 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 1 2.6 0 0.0 1 5.9
Somewhat important 20 51.3 13 59.1 7 41.2
Very important 18 46.2 9 40.9 9 52.9
Total 39 100.0 22 100.0 17 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 23 59.0 13 59.1 10 58.8
Somewhat important 14 35.9 9 40.9 5 29.4
Very important 2 5.1 0 0.0 2 11.8
Total 39 100.0 22 100.0 17 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 8 20.5 3 13.6 5 29.4
Somewhat important 20 51.3 15 68.2 5 29.4
Very important 11 28.2 4 18.2 7 41.2
Total 39 100.0 22 100.0 17 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 36 92.3 21 95.5 15 88.2
Somewhat important 3 7.7 1 4.5 2 11.8
Very important 0 0.0 0 0.0 0 0.0
Total 39 100.0 22 100.0 17 100.0

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 0 0.0 0 0.0 0 0.0
The number of inquiries has increased moderately 9 17.0 4 13.3 5 21.7
The number of inquiries has stayed about the same 17 32.1 11 36.7 6 26.1
The number of inquiries has decreased moderately 21 39.6 11 36.7 10 43.5
The number of inquiries has decreased substantially 6 11.3 4 13.3 2 8.7
Total 53 100.0 30 100.0 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 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 commercial real estate loans changed?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 8 15.1 5 16.7 3 13.0
Tightened somewhat 27 50.9 16 53.3 11 47.8
Remained basically unchanged 18 34.0 9 30.0 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 53 100.0 30 100.0 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 2 3.8 1 3.3 1 4.3
About the same 12 22.6 6 20.0 6 26.1
Moderately weaker 19 35.8 11 36.7 8 34.8
Substantially weaker 19 35.8 12 40.0 7 30.4
Total 53 100.0 30 100.0 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 3 6.1 2 7.4 1 4.5
Tightened somewhat 21 42.9 12 44.4 9 40.9
Remained basically unchanged 25 51.0 13 48.1 12 54.5
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 3 12.0 2 11.8 1 12.5
Tightened somewhat 13 52.0 8 47.1 5 62.5
Remained basically unchanged 9 36.0 7 41.2 2 25.0
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 25 100.0 17 100.0 8 100.0

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 10 20.4 6 22.2 4 18.2
Moderately stronger 15 30.6 8 29.6 7 31.8
About the same 17 34.7 9 33.3 8 36.4
Moderately weaker 7 14.3 4 14.8 3 13.6
Substantially weaker 0 0.0 0 0.0 0 0.0
Total 49 100.0 27 100.0 22 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Substantially stronger 1 4.0 1 5.9 0 0.0
Moderately stronger 3 12.0 2 11.8 1 12.5
About the same 14 56.0 10 58.8 4 50.0
Moderately weaker 3 12.0 2 11.8 1 12.5
Substantially weaker 4 16.0 2 11.8 2 25.0
Total 25 100.0 17 100.0 8 100.0

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 past 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 6 11.5 3 10.3 3 13.0
Tightened somewhat 20 38.5 11 37.9 9 39.1
Remained basically unchanged 26 50.0 15 51.7 11 47.8
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

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 1 1.9 0 0.0 1 4.3
Moderately stronger 10 19.2 3 10.3 7 30.4
About the same 15 28.8 10 34.5 5 21.7
Moderately weaker 19 36.5 10 34.5 9 39.1
Substantially weaker 7 13.5 6 20.7 1 4.3
Total 52 100.0 29 100.0 23 100.0

Questions 13-18 ask about consumer lending at your bank. Question 13 deals with changes in your bank's willingness to make consumer loans over the past three months. Questions 14-17 deal with changes in credit standards and loan terms over the same period. Question 18 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.

13. 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 1 2.0 1 3.6 0 0.0
Somewhat more willing 1 2.0 1 3.6 0 0.0
About unchanged 44 86.3 23 82.1 21 91.3
Somewhat less willing 5 9.8 3 10.7 2 8.7
Much less willing 0 0.0 0 0.0 0 0.0
Total 51 100.0 28 100.0 23 100.0

14. 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 2 6.5 2 10.5 0 0.0
Tightened somewhat 16 51.6 11 57.9 5 41.7
Remained basically unchanged 13 41.9 6 31.6 7 58.3
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 31 100.0 19 100.0 12 100.0

15. 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 3.9 1 3.6 1 4.3
Tightened somewhat 22 43.1 16 57.1 6 26.1
Remained basically unchanged 27 52.9 11 39.3 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 51 100.0 28 100.0 23 100.0

16. 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 2 6.3 2 10.0 0 0.0
Tightened somewhat 18 56.3 10 50.0 8 66.7
Remained basically unchanged 12 37.5 8 40.0 4 33.3
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 6.3 0 0.0 2 16.7
Tightened somewhat 14 43.8 11 55.0 3 25.0
Remained basically unchanged 16 50.0 9 45.0 7 58.3
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 0 0.0 0 0.0 0 0.0
Tightened somewhat 2 6.3 2 10.0 0 0.0
Remained basically unchanged 30 93.8 18 90.0 12 100.0
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 32 100.0 20 100.0 12 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 2 6.3 2 10.0 0 0.0
Tightened somewhat 16 50.0 10 50.0 6 50.0
Remained basically unchanged 14 43.8 8 40.0 6 50.0
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 5 15.6 4 20.0 1 8.3
Tightened somewhat 11 34.4 4 20.0 7 58.3
Remained basically unchanged 16 50.0 12 60.0 4 33.3
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

17. Over the past three months, how has your bank changed the following terms and conditions on consumer loans other than credit card loans? (Please assign each term a number between 1 and 5 using the following scale: 1=tightened considerably, 2=tightened somewhat, 3=remained basically unchanged, 4=eased somewhat, 5=eased considerably.)

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 1 2.0 1 3.7 0 0.0
Tightened somewhat 9 18.0 5 18.5 4 17.4
Remained basically unchanged 40 80.0 21 77.8 19 82.6
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 27 100.0 23 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 3 5.9 1 3.6 2 8.7
Tightened somewhat 23 45.1 13 46.4 10 43.5
Remained basically unchanged 22 43.1 11 39.3 11 47.8
Eased somewhat 3 5.9 3 10.7 0 0.0
Eased 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
Tightened considerably 2 3.9 1 3.6 1 4.3
Tightened somewhat 14 27.5 8 28.6 6 26.1
Remained basically unchanged 35 68.6 19 67.9 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 51 100.0 28 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 5 10.0 4 14.3 1 4.5
Tightened somewhat 18 36.0 9 32.1 9 40.9
Remained basically unchanged 27 54.0 15 53.6 12 54.5
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 50 100.0 28 100.0 22 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 6 12.0 4 14.3 2 9.1
Tightened somewhat 18 36.0 8 28.6 10 45.5
Remained basically unchanged 26 52.0 16 57.1 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 50 100.0 28 100.0 22 100.0

18. 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 9 17.6 4 14.3 5 21.7
About the same 24 47.1 16 57.1 8 34.8
Moderately weaker 14 27.5 6 21.4 8 34.8
Substantially weaker 4 7.8 2 7.1 2 8.7
Total 51 100.0 28 100.0 23 100.0

19. Over the past three months, how has your bank changed the size of credit lines for existing customers with the following types of accounts? Please consider changes made to line sizes during the life of existing credit agreements as well as changes made to line sizes upon renewal or renegotiation of existing agreements. (Please rate the degree of change for each type of account using the following scale: 1=increased considerably, 2=increased somewhat, 3=remained basically unchanged, 4=decreased somewhat, 5=decreased considerably.)

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Increased considerably 0 0.0 0 0.0 0 0.0
Increased somewhat 0 0.0 0 0.0 0 0.0
Remained basically unchanged 31 59.6 16 55.2 15 65.2
Decreased somewhat 16 30.8 8 27.6 8 34.8
Decreased considerably 5 9.6 5 17.2 0 0.0
Total 52 100.0 29 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Increased considerably 0 0.0 0 0.0 0 0.0
Increased somewhat 1 3.0 1 4.8 0 0.0
Remained basically unchanged 14 42.4 9 42.9 5 41.7
Decreased somewhat 14 42.4 7 33.3 7 58.3
Decreased considerably 4 12.1 4 19.0 0 0.0
Total 33 100.0 21 100.0 12 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Increased considerably 0 0.0 0 0.0 0 0.0
Increased somewhat 1 2.8 1 4.2 0 0.0
Remained basically unchanged 23 63.9 13 54.2 10 83.3
Decreased somewhat 10 27.8 8 33.3 2 16.7
Decreased considerably 2 5.6 2 8.3 0 0.0
Total 36 100.0 24 100.0 12 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Increased considerably 0 0.0 0 0.0 0 0.0
Increased somewhat 0 0.0 0 0.0 0 0.0
Remained basically unchanged 28 59.6 14 56.0 14 63.6
Decreased somewhat 19 40.4 11 44.0 8 36.4
Decreased considerably 0 0.0 0 0.0 0 0.0
Total 47 100.0 25 100.0 22 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Increased considerably 0 0.0 0 0.0 0 0.0
Increased somewhat 1 2.2 1 4.2 0 0.0
Remained basically unchanged 19 42.2 8 33.3 11 52.4
Decreased somewhat 18 40.0 11 45.8 7 33.3
Decreased considerably 7 15.6 4 16.7 3 14.3
Total 45 100.0 24 100.0 21 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Increased considerably 0 0.0 0 0.0 0 0.0
Increased somewhat 0 0.0 0 0.0 0 0.0
Remained basically unchanged 18 47.4 9 40.9 9 56.3
Decreased somewhat 15 39.5 11 50.0 4 25.0
Decreased considerably 5 13.2 2 9.1 3 18.8
Total 38 100.0 22 100.0 16 100.0

In recent quarters, loan delinquencies and chargeoffs have continued to increase. Questions 20-21 ask about your bank’s expectations for the behavior of these measures of loan quality in 2009.

20. Assuming that economic activity progresses in line with consensus forecasts, what is your bank’s outlook for delinquencies and chargeoffs on existing loans to businesses in 2009?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Loan quality is likely to improve substantially 0 0.0 0 0.0 0 0.0
Loan quality is likely to improve somewhat 0 0.0 0 0.0 0 0.0
Loan quality is likely to stabilize around current levels 7 13.5 5 17.2 2 8.7
Loan quality is likely to deteriorate somewhat 37 71.2 18 62.1 19 82.6
Loan quality is likely to deteriorate substantially 8 15.4 6 20.7 2 8.7
Total 52 100.0 29 100.0 23 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Loan quality is likely to improve substantially 0 0.0 0 0.0 0 0.0
Loan quality is likely to improve somewhat 1 2.0 1 3.4 0 0.0
Loan quality is likely to stabilize around current levels 3 5.9 2 6.9 1 4.5
Loan quality is likely to deteriorate somewhat 34 66.7 16 55.2 18 81.8
Loan quality is likely to deteriorate substantially 13 25.5 10 34.5 3 13.6
Total 51 100.0 29 100.0 22 100.0

21. Assuming that economic activity progresses in line with consensus forecasts, what is your bank’s outlook for delinquencies and chargeoffs on existing loans to households in 2009?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Loan quality is likely to improve substantially 0 0.0 0 0.0 0 0.0
Loan quality is likely to improve somewhat 1 2.0 0 0.0 1 4.5
Loan quality is likely to stabilize around current levels 7 14.0 3 10.7 4 18.2
Loan quality is likely to deteriorate somewhat 39 78.0 22 78.6 17 77.3
Loan quality is likely to deteriorate substantially 3 6.0 3 10.7 0 0.0
Total 50 100.0 28 100.0 22 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Loan quality is likely to improve substantially 0 0.0 0 0.0 0 0.0
Loan quality is likely to improve somewhat 0 0.0 0 0.0 0 0.0
Loan quality is likely to stabilize around current levels 2 7.4 1 5.6 1 11.1
Loan quality is likely to deteriorate somewhat 23 85.2 15 83.3 8 88.9
Loan quality is likely to deteriorate substantially 2 7.4 2 11.1 0 0.0
Total 27 100.0 18 100.0 9 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Loan quality is likely to improve substantially 0 0.0 0 0.0 0 0.0
Loan quality is likely to improve somewhat 0 0.0 0 0.0 0 0.0
Loan quality is likely to stabilize around current levels 2 25.0 2 33.3 0 0.0
Loan quality is likely to deteriorate somewhat 4 50.0 3 50.0 1 50.0
Loan quality is likely to deteriorate substantially 2 25.0 1 16.7 1 50.0
Total 8 100.0 6 100.0 2 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Loan quality is likely to improve substantially 0 0.0 0 0.0 0 0.0
Loan quality is likely to improve somewhat 0 0.0 0 0.0 0 0.0
Loan quality is likely to stabilize around current levels 9 17.3 4 13.8 5 21.7
Loan quality is likely to deteriorate somewhat 38 73.1 22 75.9 16 69.6
Loan quality is likely to deteriorate substantially 5 9.6 3 10.3 2 8.7
Total 52 100.0 29 100.0 23 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Loan quality is likely to improve substantially 0 0.0 0 0.0 0 0.0
Loan quality is likely to improve somewhat 0 0.0 0 0.0 0 0.0
Loan quality is likely to stabilize around current levels 3 9.7 3 15.8 0 0.0
Loan quality is likely to deteriorate somewhat 24 77.4 14 73.7 10 83.3
Loan quality is likely to deteriorate substantially 4 12.9 2 10.5 2 16.7
Total 31 100.0 19 100.0 12 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Loan quality is likely to improve substantially 0 0.0 0 0.0 0 0.0
Loan quality is likely to improve somewhat 1 2.0 0 0.0 1 4.3
Loan quality is likely to stabilize around current levels 12 24.0 9 33.3 3 13.0
Loan quality is likely to deteriorate somewhat 36 72.0 18 66.7 18 78.3
Loan quality is likely to deteriorate substantially 1 2.0 0 0.0 1 4.3
Total 50 100.0 27 100.0 23 100.0

Questions 22-25 ask about international trade finance at your bank. Question 22 asks whether your bank provides international trade finance. Question 23 deals with changes in your bank’s standards and terms over the past six months. Questions 24-25 deal with changes in demand for such credit. 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-terms 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.

22. Some banks provide international trade finance through letters of credit guaranteeing payment, overdraft facilities, and other mechanisms for facilitating trade. Does your bank provide international trade finance?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Yes 35 67.3 21 72.4 14 60.9
No 17 32.7 8 27.6 9 39.1
Total 52 100.0 29 100.0 23 100.0

23. If your answer to question 22 was ‘Yes,’ over the past six months how have your bank’s credit standards and terms for providing such finance changed?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 2 5.7 2 9.5 0 0.0
Tightened somewhat 19 54.3 12 57.1 7 50.0
Remained basically unchanged 14 40.0 7 33.3 7 50.0
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 35 100.0 21 100.0 14 100.0

24. If your bank provides international trade finance (answer ‘Yes’ to question 22), and your bank has tightened or eased its credit standards or its terms for credit over the past six months (as described in question 23), how important have been the following possible reasons for the change? (Please respond to either A or B, as appropriate, and rate each possible reason using the following scale: 1=not important, 2=somewhat important, 3=very important)

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not Important 16 72.7 11 73.3 5 71.4
Somewhat Important 5 22.7 4 26.7 1 14.3
Very Important 1 4.5 0 0.0 1 14.3
Total 22 100.0 15 100.0 7 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not Important 4 18.2 3 20.0 1 14.3
Somewhat Important 15 68.2 10 66.7 5 71.4
Very Important 3 13.6 2 13.3 1 14.3
Total 22 100.0 15 100.0 7 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not Important 2 9.1 0 0.0 2 28.6
Somewhat Important 13 59.1 10 66.7 3 42.9
Very Important 7 31.8 5 33.3 2 28.6
Total 22 100.0 15 100.0 7 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not Important 2 9.1 1 6.7 1 14.3
Somewhat Important 14 63.6 10 66.7 4 57.1
Very Important 6 27.3 4 26.7 2 28.6
Total 22 100.0 15 100.0 7 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not Important 2 9.5 1 7.1 1 14.3
Somewhat Important 10 47.6 6 42.9 4 57.1
Very Important 9 42.9 7 50.0 2 28.6
Total 21 100.0 14 100.0 7 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not Important 17 77.3 12 80.0 5 71.4
Somewhat Important 5 22.7 3 20.0 2 28.6
Very Important 0 0.0 0 0.0 0 0.0
Total 22 100.0 15 100.0 7 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not Important 3 13.6 2 13.3 1 14.3
Somewhat Important 16 72.7 12 80.0 4 57.1
Very Important 3 13.6 1 6.7 2 28.6
Total 22 100.0 15 100.0 7 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not Important 14 63.6 8 53.3 6 85.7
Somewhat Important 7 31.8 6 40.0 1 14.3
Very Important 1 4.5 1 6.7 0 0.0
Total 22 100.0 15 100.0 7 100.0
 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 --

25. If your bank provides international trade finance (answer ‘Yes’ to question 22), apart from normal seasonal variation, how has demand for trade credit changed over the past six months?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Substantially stronger 0 0.0 0 0.0 0 0.0
Moderately stronger 1 2.9 0 0.0 1 7.1
About the same 9 25.7 3 14.3 6 42.9
Moderately weaker 24 68.6 17 81.0 7 50.0
Substantially weaker 1 2.9 1 4.8 0 0.0
Total 35 100.0 21 100.0 14 100.0


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 December 31, 2008. The combined assets of the 31 large banks totaled $6.2 trillion, compared to $6.5 trillion for the entire panel of 56 banks, and 10.7 trillion for all domestically chartered, federally insured commercial banks.

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