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Macroeconomic News

Loan demand falls except prime mortgages-Fed survey

Mon, 17th Aug 2009 20:23

WASHINGTON, Aug 17 (Reuters) - U.S. loan demand fell in the second quarter
for every major category except prime residential mortgages, while banks tightened credit standards at a less-intense pace than in the first quarter, the Federal Reserve said on Monday.

In its quarterly survey of senior loan officers, the Fed said the percentage of banks that tightened standards for loans to businesses and households was slightly lower than in its April survey.

About 30 percent of domestic banks reported tighter standards for commercial and industrial loans in the July survey, down from about 40 percent in April and 85 percent in November 2008.

(Reporting by David Lawder) Keywords: USA FED/LENDING

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