WASHINGTON–The July 2024 Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) has found few changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months.
Regarding loans to businesses, respondents to the survey that is conducted by the Federal Reserve reported, on balance, tighter standards and basically unchanged demand for commercial and industrial (C&I) loans to firms of all sizes over the second quarter.
Not surprisingly, banks did report tighter standards and weaker demand for all commercial real estate (CRE) loan categories.
Additional Findings
Among the other findings in the newest SLOOS survey:
- For loans to households, banks reported that on balance lending standards were basically unchanged and that there was weaker demand across all categories of residential real estate (RRE) loans.
- Banks reported basically unchanged lending standards and unchanged demand for home equity lines of credit (HELOCs).
- Standards were tightened for credit card and other consumer loans, but remained basically unchanged for auto loans, while demand weakened for auto and other consumer loans but remained basically unchanged for credit card loans.
The net shares of banks that reported having tightened lending standards are lower than in the first quarter across almost all loan categories.