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SLOOS, Jul'23: Tighter Standards And Weaker Demand

FED

Much as Fed Chair Powell indicated, the SLOOS shows signs of tighter lending standards and weaker demand. Summary excerpts taken from https://www.federalreserve.gov/data/sloos/sloos-202307.htm:

  • "Regarding loans to businesses, survey respondents reported, on balance, tighter standards and weaker demand for commercial and industrial (C&I) loans to firms of all sizes over the second quarter. Meanwhile, banks reported tighter standards and weaker demand for all commercial real estate (CRE) loan categories."
  • "For loans to households, banks reported that lending standards tightened across all categories of residential real estate (RRE) loans, especially for RRE loans other than government-sponsored enterprise (GSE)-eligible and government loans. Meanwhile, demand weakened for all RRE loan categories.
  • In addition, banks reported tighter standards and weaker demand for home equity lines of credit (HELOCs). Furthermore, standards tightened for all consumer loan categories; demand weakened for auto and other consumer loans, while it remained basically unchanged for credit card loans."


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