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Only Slight Let Up In The Pace Of Credit Tightening

US DATA
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  • Lending standards saw a significant tightening again in the latest SLOOS, although to less extent than was the case in both the April and July reports for C&I and CRE loans.
  • “Significant net shares of banks reported having tightened standards on C&I loans to firms of all sizes”
  • “Major net shares of banks reported tightening standards for all types of CRE loans. Such tightening was more widely reported by other banks than by large banks.”
  • The pace in the tightening of standards for residential mortgage loans on balance looks similar to or slightly larger than the prior July, whilst consumer loans were on balance at a similar pace to the fastest rate of tightening seen in the pandemic and before that the GFC.
  • Summary lending standards charts below
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  • Lending standards saw a significant tightening again in the latest SLOOS, although to less extent than was the case in both the April and July reports for C&I and CRE loans.
  • “Significant net shares of banks reported having tightened standards on C&I loans to firms of all sizes”
  • “Major net shares of banks reported tightening standards for all types of CRE loans. Such tightening was more widely reported by other banks than by large banks.”
  • The pace in the tightening of standards for residential mortgage loans on balance looks similar to or slightly larger than the prior July, whilst consumer loans were on balance at a similar pace to the fastest rate of tightening seen in the pandemic and before that the GFC.
  • Summary lending standards charts below