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The number of American banks that had tightened their lending standards increased significantly over the three months to April 2008, the Federal Reserve’s Senior Loan Officer Opinion Survey on Bank Lending Practices has revealed.
Around 55 per cent of US banks reported they had tightened lending standards on consumer and commercial and industrial (C & I) loans to large and middle-market firms – an increase of around 30 per cent from the January survey.
60 per cent of US banks also reported they had tightened standards on prime residential mortgages.
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Published: 06-05-08
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