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Senior Loan Officer Opinion Survey on Bank Lending Practices
July 2011

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 2011)

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 0 0.0 0 0.0 0 0.0
Tightened somewhat 0 0.0 0 0.0 0 0.0
Remained basically unchanged 43 78.2 24 72.7 19 86.4
Eased somewhat 12 21.8 9 27.3 3 13.6
Eased considerably 0 0.0 0 0.0 0 0.0
Total 55 100.0 33 100.0 22 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 0 0.0 0 0.0 0 0.0
Remained basically unchanged 47 92.2 26 89.7 21 95.5
Eased somewhat 4 7.8 3 10.3 1 4.5
Eased considerably 0 0.0 0 0.0 0 0.0
Total 51 100.0 29 100.0 22 100.0

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 0 0.0 0 0.0 0 0.0
Tightened somewhat 1 1.8 0 0.0 1 4.5
Remained basically unchanged 47 85.5 26 78.8 21 95.5
Eased somewhat 7 12.7 7 21.2 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 55 100.0 33 100.0 22 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 1 1.8 0 0.0 1 4.5
Remained basically unchanged 43 78.2 24 72.7 19 86.4
Eased somewhat 11 20.0 9 27.3 2 9.1
Eased considerably 0 0.0 0 0.0 0 0.0
Total 55 100.0 33 100.0 22 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 1 1.8 0 0.0 1 4.5
Remained basically unchanged 34 61.8 17 51.5 17 77.3
Eased somewhat 20 36.4 16 48.5 4 18.2
Eased considerably 0 0.0 0 0.0 0 0.0
Total 55 100.0 33 100.0 22 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 3 5.5 2 6.1 1 4.5
Remained basically unchanged 19 34.5 8 24.2 11 50.0
Eased somewhat 33 60.0 23 69.7 10 45.5
Eased considerably 0 0.0 0 0.0 0 0.0
Total 55 100.0 33 100.0 22 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 5 9.1 1 3.0 4 18.2
Remained basically unchanged 42 76.4 25 75.8 17 77.3
Eased somewhat 8 14.5 7 21.2 1 4.5
Eased considerably 0 0.0 0 0.0 0 0.0
Total 55 100.0 33 100.0 22 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 2 3.6 2 6.1 0 0.0
Remained basically unchanged 38 69.1 18 54.5 20 90.9
Eased somewhat 15 27.3 13 39.4 2 9.1
Eased considerably 0 0.0 0 0.0 0 0.0
Total 55 100.0 33 100.0 22 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 0 0.0 0 0.0 0 0.0
Remained basically unchanged 53 96.4 32 97.0 21 95.5
Eased somewhat 2 3.6 1 3.0 1 4.5
Eased considerably 0 0.0 0 0.0 0 0.0
Total 55 100.0 33 100.0 22 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 0 0.0 0 0.0 0 0.0
Remained basically unchanged 26 48.1 16 50.0 10 45.5
Eased somewhat 22 40.7 14 43.8 8 36.4
Eased considerably 6 11.1 2 6.3 4 18.2
Total 54 100.0 32 100.0 22 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 0 0.0 0 0.0 0 0.0
Remained basically unchanged 52 100.0 30 100.0 22 100.0
Eased somewhat 0 0.0 0 0.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 30 100.0 22 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 0 0.0 0 0.0 0 0.0
Remained basically unchanged 46 88.5 25 83.3 21 95.5
Eased somewhat 6 11.5 5 16.7 1 4.5
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 30 100.0 22 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 1 1.9 0 0.0 1 4.5
Remained basically unchanged 40 76.9 21 70.0 19 86.4
Eased somewhat 11 21.2 9 30.0 2 9.1
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 30 100.0 22 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 1 1.9 1 3.3 0 0.0
Remained basically unchanged 28 53.8 12 40.0 16 72.7
Eased somewhat 23 44.2 17 56.7 6 27.3
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 30 100.0 22 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 5 9.6 1 3.3 4 18.2
Remained basically unchanged 44 84.6 26 86.7 18 81.8
Eased somewhat 3 5.8 3 10.0 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 30 100.0 22 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 1 1.9 1 3.3 0 0.0
Remained basically unchanged 43 82.7 23 76.7 20 90.9
Eased somewhat 8 15.4 6 20.0 2 9.1
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 30 100.0 22 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 0 0.0 0 0.0 0 0.0
Remained basically unchanged 51 98.1 29 96.7 22 100.0
Eased somewhat 1 1.9 1 3.3 0 0.0
Eased considerably 0 0.0 0 0.0 0 0.0
Total 52 100.0 30 100.0 22 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 0 0.0 0 0.0 0 0.0
Remained basically unchanged 31 60.8 18 62.1 13 59.1
Eased somewhat 15 29.4 9 31.0 6 27.3
Eased considerably 5 9.8 2 6.9 3 13.6
Total 51 100.0 29 100.0 22 100.0

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 4 66.7 2 50.0 2 100.0
Somewhat important 2 33.3 2 50.0 0 0.0
Very important 0 0.0 0 0.0 0 0.0
Total 6 100.0 4 100.0 2 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 1 16.7 0 0.0 1 50.0
Somewhat important 5 83.3 4 100.0 1 50.0
Very important 0 0.0 0 0.0 0 0.0
Total 6 100.0 4 100.0 2 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 4 66.7 3 75.0 1 50.0
Somewhat important 2 33.3 1 25.0 1 50.0
Very important 0 0.0 0 0.0 0 0.0
Total 6 100.0 4 100.0 2 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 4 66.7 2 50.0 2 100.0
Somewhat important 2 33.3 2 50.0 0 0.0
Very important 0 0.0 0 0.0 0 0.0
Total 6 100.0 4 100.0 2 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 2 33.3 2 50.0 0 0.0
Somewhat important 3 50.0 2 50.0 1 50.0
Very important 1 16.7 0 0.0 1 50.0
Total 6 100.0 4 100.0 2 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 2 33.3 2 50.0 0 0.0
Somewhat important 3 50.0 1 25.0 2 100.0
Very important 1 16.7 1 25.0 0 0.0
Total 6 100.0 4 100.0 2 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 5 83.3 3 75.0 2 100.0
Somewhat important 1 16.7 1 25.0 0 0.0
Very important 0 0.0 0 0.0 0 0.0
Total 6 100.0 4 100.0 2 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 1 16.7 1 25.0 0 0.0
Somewhat important 4 66.7 2 50.0 2 100.0
Very important 1 16.7 1 25.0 0 0.0
Total 6 100.0 4 100.0 2 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 34 89.5 22 84.6 12 100.0
Somewhat important 4 10.5 4 15.4 0 0.0
Very important 0 0.0 0 0.0 0 0.0
Total 38 100.0 26 100.0 12 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 23 60.5 15 57.7 8 66.7
Somewhat important 14 36.8 10 38.5 4 33.3
Very important 1 2.6 1 3.8 0 0.0
Total 38 100.0 26 100.0 12 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 29 76.3 18 69.2 11 91.7
Somewhat important 9 23.7 8 30.8 1 8.3
Very important 0 0.0 0 0.0 0 0.0
Total 38 100.0 26 100.0 12 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 3 7.5 3 11.1 0 0.0
Somewhat important 13 32.5 7 25.9 6 46.2
Very important 24 60.0 17 63.0 7 53.8
Total 40 100.0 27 100.0 13 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 31 81.6 19 73.1 12 100.0
Somewhat important 7 18.4 7 26.9 0 0.0
Very important 0 0.0 0 0.0 0 0.0
Total 38 100.0 26 100.0 12 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 30 78.9 19 73.1 11 91.7
Somewhat important 7 18.4 6 23.1 1 8.3
Very important 1 2.6 1 3.8 0 0.0
Total 38 100.0 26 100.0 12 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 30 78.9 22 84.6 8 66.7
Somewhat important 7 18.4 4 15.4 3 25.0
Very important 1 2.6 0 0.0 1 8.3
Total 38 100.0 26 100.0 12 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 36 94.7 25 96.2 11 91.7
Somewhat important 2 5.3 1 3.8 1 8.3
Very important 0 0.0 0 0.0 0 0.0
Total 38 100.0 26 100.0 12 100.0

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 1 1.8 1 3.0 0 0.0
Moderately stronger 15 27.3 12 36.4 3 13.6
About the same 34 61.8 19 57.6 15 68.2
Moderately weaker 5 9.1 1 3.0 4 18.2
Substantially weaker 0 0.0 0 0.0 0 0.0
Total 55 100.0 33 100.0 22 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Substantially stronger 0 0.0 0 0.0 0 0.0
Moderately stronger 9 17.3 5 16.7 4 18.2
About the same 37 71.2 23 76.7 14 63.6
Moderately weaker 5 9.6 2 6.7 3 13.6
Substantially weaker 1 1.9 0 0.0 1 4.5
Total 52 100.0 30 100.0 22 100.0

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 6 31.6 3 21.4 3 60.0
Somewhat important 13 68.4 11 78.6 2 40.0
Very important 0 0.0 0 0.0 0 0.0
Total 19 100.0 14 100.0 5 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 8 42.1 4 28.6 4 80.0
Somewhat important 11 57.9 10 71.4 1 20.0
Very important 0 0.0 0 0.0 0 0.0
Total 19 100.0 14 100.0 5 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 8 42.1 7 50.0 1 20.0
Somewhat important 10 52.6 6 42.9 4 80.0
Very important 1 5.3 1 7.1 0 0.0
Total 19 100.0 14 100.0 5 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 15 78.9 10 71.4 5 100.0
Somewhat important 4 21.1 4 28.6 0 0.0
Very important 0 0.0 0 0.0 0 0.0
Total 19 100.0 14 100.0 5 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 7 36.8 3 21.4 4 80.0
Somewhat important 10 52.6 9 64.3 1 20.0
Very important 2 10.5 2 14.3 0 0.0
Total 19 100.0 14 100.0 5 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 4 21.1 4 28.6 0 0.0
Somewhat important 14 73.7 9 64.3 5 100.0
Very important 1 5.3 1 7.1 0 0.0
Total 19 100.0 14 100.0 5 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 1 14.3 1 25.0 0 0.0
Somewhat important 5 71.4 2 50.0 3 100.0
Very important 1 14.3 1 25.0 0 0.0
Total 7 100.0 4 100.0 3 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 1 14.3 1 25.0 0 0.0
Somewhat important 5 71.4 2 50.0 3 100.0
Very important 1 14.3 1 25.0 0 0.0
Total 7 100.0 4 100.0 3 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 0 0.0 0 0.0 0 0.0
Somewhat important 5 71.4 3 75.0 2 66.7
Very important 2 28.6 1 25.0 1 33.3
Total 7 100.0 4 100.0 3 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 2 28.6 2 50.0 0 0.0
Somewhat important 4 57.1 2 50.0 2 66.7
Very important 1 14.3 0 0.0 1 33.3
Total 7 100.0 4 100.0 3 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 2 28.6 1 25.0 1 33.3
Somewhat important 3 42.9 2 50.0 1 33.3
Very important 2 28.6 1 25.0 1 33.3
Total 7 100.0 4 100.0 3 100.0
 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Not important 7 100.0 4 100.0 3 100.0
Somewhat important 0 0.0 0 0.0 0 0.0
Very important 0 0.0 0 0.0 0 0.0
Total 7 100.0 4 100.0 3 100.0

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 RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
The number of inquiries has increased substantially 2 3.6 2 6.1 0 0.0
The number of inquiries has increased moderately 16 29.1 11 33.3 5 22.7
The number of inquiries has stayed about the same 32 58.2 18 54.5 14 63.6
The number of inquiries has decreased moderately 2 3.6 1 3.0 1 4.5
The number of inquiries has decreased substantially 3 5.5 1 3.0 2 9.1
Total 55 100.0 33 100.0 22 100.0

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 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 CRE loans changed?

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 4 7.3 2 6.1 2 9.1
Remained basically unchanged 44 80.0 25 75.8 19 86.4
Eased somewhat 6 10.9 5 15.2 1 4.5
Eased considerably 1 1.8 1 3.0 0 0.0
Total 55 100.0 33 100.0 22 100.0

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

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Substantially stronger 0 0.0 0 0.0 0 0.0
Moderately stronger 18 32.7 13 39.4 5 22.7
About the same 31 56.4 19 57.6 12 54.5
Moderately weaker 6 10.9 1 3.0 5 22.7
Substantially weaker 0 0.0 0 0.0 0 0.0
Total 55 100.0 33 100.0 22 100.0

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 0 0.0 0 0.0 0 0.0
Tightened somewhat 3 5.7 2 6.3 1 4.8
Remained basically unchanged 46 86.8 27 84.4 19 90.5
Eased somewhat 4 7.5 3 9.4 1 4.8
Eased considerably 0 0.0 0 0.0 0 0.0
Total 53 100.0 32 100.0 21 100.0

 All RespondentsLarge BanksOther Banks
BanksPercentBanksPercentBanksPercent
Tightened considerably 0 0.0 0 0.0 0 0.0
Tightened somewhat 1 4.2 1 5.6 0 0.0
Remained basically unchanged 21 87.5 16 88.9 5 83.3
Eased somewhat 2 8.3 1 5.6 1 16.7
Eased considerably 0 0.0 0 0.0 0 0.0
Total 24 100.0 18 100.0 6 100.0