Follow on Google News News By Tag * Investment Research * Business Research * Economic Research * Valuation Services * Irc 409a * Ppa * More Tags... Industry News News By Place Country(s) Industry News
Follow on Google News | US banks shore up lending criteriaLondon, Tuesday, February 05, 2008 -- ARANCA NEWSTRACK – (aranca)
By: Aranca A survey from the Federal Reserve showed that 49.1 per cent of banks had tightened their standards to some degree on prime residential mortgages during the last three months, with just under four per cent saying they has tightened them more rigorously. Meanwhile, in the sub-prime sector, 28.6 per cent said they had slightly tightened standards, compared with 42.9 per cent who said they had considerably tightened their criteria. Businesses are also affected by the more stringent lending conditions with 30.4 per cent of banks saying they had somewhat tightened on commercial and industrial loans, the National Post reports. The report said: "A large number of domestic and foreign respondents pointed to a less favourable economic outlook and to a worsening of the conditions of, or the outlook for, commercial real estate in the markets where their banks operate as reasons for tightening terms on commercial real estate loans in 2007." # # # About Aranca Aranca is an end-to-end provider of on-demand, investment, business and economic research, and valuation services to global clients. Our unique blend of market knowledge,flexible servicing models, quality assurance standards and offshore operations reward our clients with high quality, scalable, cost-effective research and valuation services. With client facing offices in San Francisco, New York, London, Brussels and Mumbai. syndicate@aranca.com Website: www.aranca.com End
Account Email Address Account Phone Number Disclaimer Report Abuse
|
|