Fed reports banks are tightening lending

WASHINGTON -- The Federal Reserve reported that more U.S. banks are tightening lending standards on home mortgages, other types of consumer loans and business loans in response to a spreading credit crisis.

The Fed, the country’s central bank, said Monday that the percentage of banks reporting tighter lending standards was near historic highs for nearly all loan categories.

The survey, conducted in April, found that nearly two-thirds of banks surveyed had tightenee-backed securities. In reaction to the losses, banks have raised their own standards, especially because of the growing worries thanal mortgages and another 43 percent had tightened standards in this category “somewhat.”

The survey found that only nine banks are currently making loans in the subprime category and of that group, 78 percent had tightened lending standards either considerably or somewhat.

Subscribe to The China Post and save.  Click hereSharePrintEmail
Write a Comment



CAPTCHA Code Image
Change the code
 Receive China Post promos Respond to this email
Subscribe  |   Advertise  |   RSS Feed  |   About Us  |   Career  |   Contact Us
Sitemap  |   Top Stories  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |   Arts & Leisure  |   Health  |   Editorial  |   Commentary
Travel  |   Movies  |   TV Guide  |   Classifieds  |   Bookstore  |   Getting Around  |   Weather  |   Guide Post  |   Student Post  |   English Courses  |   Terms of Use  |   Sitemap