Banks experienced stronger demand for loans over the past three months as companies took advantage of easier lending terms, according to a Federal Reserve survey issued
The quarterly poll of 75 domestic and 21 foreign banks operating in the U.S. found that businesses showed greater appetite for loans compared to the last Fed report in November
Yet demand for home-mortgage loans softened for the second straight quarter, the Fed said, as higher rates discouraged would-be buyers
Larger banks eased standards for mortgages but smaller banks tightened them
Banks also said they eased standards for credit cards, auto and other goods as consumers appeared more willing to take on debt. In response to tighter government regulations on leveraged lending, some banks said they curbed such borrowing but they expected borrowers would be able to "turn to other sources of funding."
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WASHINGTON (MarketWatch) - Dallas Federal Reserve President Richard Fisher said he thinks the central bank should continue to reduce bond purchases despite falling U.S. stock prices and currency turmoil in overseas economies. In an interview on Fox Business, Fisher on Monday said the Federal Reserve is focused on how the "real" economy is doing and not just the stock market. So long as the economy shows progress, he said, the Fed should cut bond purchases from the current rate of $65 billion a month. Fisher pointed out that stock prices are still sharply higher compared to one year ago and he noted that markets are ocasionally prone to sharp gyrations regardless of the health of the economy. Fisher is a voting member this year of the Fed's policy-setting committee.
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