Fed Says More Banks Tightened Lending Standards in First Quarter.

According to a survey conducted by the Federal Reserve, more US banks have tightened their credit standards for commercial and industrial loans in the first quarter of this year. The net share of banks that reported stricter lending standards rose to 15.6% from 14.5% in the previous quarter. This trend of tightening credit standards has been ongoing since the second quarter of 2022, following a series of regional bank failures. The Federal Reserve's decision to raise its benchmark rate has contributed to higher borrowing costs for businesses and households. [Extracted from the article]