The quarterly Federal Reserve Senior Loan Officer Survey is due at 1800 GMT on Monday, 8 May 2023:
- 1400 US Eastern time
Its attracted interest due to bank failures in the US since March.
The Federal Reserve Loan Officer Survey is a quarterly survey conducted by the Federal Reserve System
- collects information from senior loan officers at banks about changes in the terms and conditions of their lending activities over the past three months
- The survey covers a wide range of loan categories, including commercial and industrial loans, commercial real estate loans, residential real estate loans, and consumer loans
- It also covers lending standards, loan demand, and factors affecting credit availability
The information collected in the survey is used by the Federal Reserve and other policymakers to monitor credit conditions and inform monetary policy decisions.
Fed Chair Powell noted that lending standards at midsized banks tightened in the latest period. Powell also made the point that given the recent strains in the banking sector, the FOMC might not need to raise rates as high as it would have otherwise, as credit tightening is greater than rising rates would imply. The magnitude of the impact, though, is not clear.
