U.S. Banks Anticipate Tightening Credit Standards Despite Rising Loan Demand
A recent Federal Reserve survey shows U.S. banks preparing to maintain or tighten credit standards in response to falling interest rates and increased loan demand.
U.S. banks are expecting to maintain or even tighten credit standards in the coming year, despite an anticipated increase in demand for loans across the board. This is in response to the current trend of falling interest rates, as revealed by a recent Federal Reserve survey of senior bank lending officers.
The survey results, which were published on Monday, were taken into consideration by Fed officials last week when they opted to keep the policy rate steady within the 5.25%-5.5% range. Additionally, they signaled that interest rate cuts are likely to occur later in the year, although not necessarily as soon as next month.
The banking industry in the U.S. is bracing for increased demand for loans amidst falling interest rates, but is also prepared to maintain or tighten credit standards in response to these market conditions.
U.S. Banks Anticipate Tightening Credit Standards Despite Rising Loan Demand
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