Fed survey shows banks tightening broad range of loans

11/4/2008 | NYTimes.com

A Federal Reserve survey of 55 domestic banks and 21 U.S. offices of foreign banks found that a majority of banks "continued to tighten their lending standards and terms on all major loan categories over the previous three months." Nearly all of the banks reported tighter standards for lines of credit extended to large and midsize businesses. About 60% of respondents in the survey, taken in the first two weeks of October, said they had tightened lending standards on credit card debt.

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