Fed says Banks More Willing to Make Consumer Loans

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00018208-fed-says-banks-more-willing-to-make-consu/

The Federal Reserve said Monday that banks in the U.S. loosened credit standards in the last quarter and increased access to consumer loans over the period.

Consumer demand for loans increased in the second quarter of 2006 despite steady interest rate increases from the Fed. This is according to the Fed?s quarterly survey of bank loan officers which covers 56 domestic banks and 17 foreign banks.

Four banks — about 8% of respondents — noted they were “somewhat more willing” to make consumer loans in the past quarter. Five banks — almost 10% of respondents — said they had eased credit standards for consumer loans other than credit cards.

Fed says Banks More Willing to Make Consumer Loans

Unknown Author

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