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Fed Says More Banks Tightened Loan Standards to Start 2024
More US banks reported stricter credit standards in the first quarter, according to the Federal Reserve. The net share of US banks that tightened standards on commercial and industrial loans for mid-sized and large businesses rose to 15.6% in the first three months of the year, from 14.5% in the fourth quarter, data from a Fed survey of lending officers released Monday showed. Lenders have generally been tightening credit standards since the second quarter of 2022, following a string of high-profile regional bank failures. The Fed lifted its benchmark rate last year to a two-decade high in a bid to curb inflation, ... (full story)