City municipal workers cross the Brooklyn Bridge and rally in City Hall Park against the vaccination warrant. City employees of the New York Police Department, Sanitation Department, Fire Department, Education Department, Correctional Service, Parks Department, City Health and Hospitals , the Metropolitan Transit Authority and other city office workers assigned by the mayor to get vaccinated against the COVID-19 disease by November 1, 2021 or will be out of work and without pay.
Lev Radin | LightRocket | Getty Images
Banks broadly eased credit standards for businesses, commercial real estate investors and households in the third quarter of the year as the U.S. economy weathered the latest wave of the coronavirus pandemic, a report on Monday reported. Federal Reserve investigation.
The Fed’s survey of major loan officers, which shows the economy continues to grow, said banks “have generally said they have relaxed the standards” for business lending by lowering rates, widening lines of credit or by imposing less restrictive conditions.
Banks “cited a more favorable or less uncertain economic outlook” as well as greater competition among lenders and “increased tolerance for risk” amid a general improvement in markets and economic outlook, the Fed reported. . The demand for loans has also increased, especially among medium and large enterprises.
More flexible standards and higher demand have also been reported for commercial real estate loans.
Banks in general have also relaxed the standards for consumer credit cards and auto loans, lowering credit score requirements or increasing credit limits.
But as demand for credit cards increased, demand for auto loans declined, the Fed reported, a possible sign that price increases had started to affect demand for automobiles, or that the surge in purchases over the past decade. the last year had peaked.
In special investigative questions related to the pandemic, banks said demand for business and credit card loans remained below pre-pandemic levels, with higher demand expected over the next six months. .
Banks “cited customers facing more favorable income prospects and higher consumer spending needs given prevailing interest rates and conditions as the reasons for higher expected demand,” he said. reported the Fed.