Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Banks eased standards for business, household loans in first quarter, Fed survey shows

05/03/2021 | 02:08pm EDT
FILE PHOTO: An employee of the Korea Exchange Bank counts one hundred U.S. dollar notes during a photo opportunity at the bank's headquarters in Seoul

(Reuters) - Loan officers at U.S. banks reported easing standards on most business and household loans in the first three months of the year as more of the country reopened amid accelerating vaccination rates.

Standards on commercial real estate loans remained basically unchanged, while banks reported tighter standards for construction and land development loans, according to loan officers responding to the Federal Reserve survey released on Monday.

Demand, meanwhile, was weaker for business loans to large and mid-sized firms, and for nonfarm nonresidential loans, and was unchanged for business loans to smaller firms; while demand for construction, land development and multifamily loans rose, the survey showed.

The U.S. economy grew an annualized 6.4% in the first quarter, powered by consumer spending. The Fed survey showed that during the first quarter demand for home loans strengthened, while demand for credit card and other consumer loans remained unchanged.

Despite the recent easing trend, banks since the start of the pandemic have overall tightened both business and consumer credit policies, as well as for commercial real estate loans, the Fed reported. Big banks eased credit policies on loans to large, investment-grade firms, and small banks tightened standards especially for small and below-investment-grade firms.

(Reporting by Ann Saphir; Editing by Andrea Ricci)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.18% 0.78439 Delayed Quote.1.95%
BRITISH POUND / US DOLLAR (GBP/USD) -0.15% 1.4019 Delayed Quote.2.29%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.08% 0.82457 Delayed Quote.4.99%
EURO / US DOLLAR (EUR/USD) -0.13% 1.21541 Delayed Quote.-0.42%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.02% 0.01364 Delayed Quote.-0.36%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.32% 0.72724 Delayed Quote.1.40%
Latest news "Economy & Forex"
12:09aIndia's Cipla to make and sell Eli Lilly's baricitinib to treat COVID-19
RE
12:01aChina iron ore, steel prices hit record as supply worries prompt speculative buying
RE
05/09Indonesian consumers show growing confidence for first time in a year - central bank survey
RE
05/09Gold firms as U.S. jobs data miss cements low rates view
RE
05/09RESERVE BANK OF INDIA  : Money Market Operations as on May 07, 2021
PU
05/09South Korea President Moon vows to raise fiscal spending to create jobs
RE
05/09Japan PM Suga brushes aside calls for extra budget amid pandemic
RE
05/09Corn eases from 8-year peak, market eyes USDA supply-demand report
RE
05/09IOC chief Bach visit to Japan being arranged for June - FNN
RE
05/09China fines online education firms for misleading consumers
RE
Latest news "Economy & Forex"