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Economy
In reply to the discussion: STOCK MARKET WATCH -- Monday, 30 January 2012 [View all]Roland99
(53,342 posts)88. U.S. banks back off lending to European banks
http://www.marketwatch.com/story/us-banks-back-off-lending-to-european-banks-2012-01-30-145110?link=MW_home_latest_news
U.S. banks tightened standards for loans to their European counterparts in the last three months of 2011, increasing standards for the second straight quarter as the regions debt crisis continued, according to a quarterly survey of the bank senior loan officers released Monday by the Federal Reserve.
The survey, based on 56 domestic banks and 23 U.S. branches of foreign banks, said that more than half of banks that make loans to European banks had tightened standards. Almost 20% said that the standards had been tightened considerably.
U.S. banks also reported that they had increased the rate they had tightened standards on loans to nonfinancial firms that have significant exposures to Europe.
At the same time, U.S. banks reported that they had picked up business as European banks pulled back to rebuild their balance sheets. Foreign banks, for their part, reported that they had tightened their loan standards and that demand was little changed.
The survey, based on 56 domestic banks and 23 U.S. branches of foreign banks, said that more than half of banks that make loans to European banks had tightened standards. Almost 20% said that the standards had been tightened considerably.
U.S. banks also reported that they had increased the rate they had tightened standards on loans to nonfinancial firms that have significant exposures to Europe.
At the same time, U.S. banks reported that they had picked up business as European banks pulled back to rebuild their balance sheets. Foreign banks, for their part, reported that they had tightened their loan standards and that demand was little changed.
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