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55% of Banks Report Tighter Commercial Loan Terms

WASHINGTON -- About 55% of domestic banks have reported tightening their lending standards on commercial and industrial loans to large and midsize businesses over the past three months, according to the Federal Reserve Board's April 2008 Senior Loan Officer Opinion Survey on Bank Lending Practices.

By Michelle A. Samaad | Updated on June 03, 2008

WASHINGTON — About 55% of domestic banks have reported tightening their lending standards on commercial and industrial loans to large and midsize businesses over the past three months, according to the Federal Reserve Board’s April 2008 Senior Loan Officer Opinion Survey on Bank Lending Practices.

The data is based on responses from 56 domestic banks and 21 United States-based branches and agencies of foreign banks. The 55% increase is up from the nearly 30% reported in the Fed’s January survey. Fifty percent of domestic banks reported tightening lending standards to smaller firms since January.

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