Banks that operate in the US in the second quarter softened the standards of business lending, the results of a survey of the Federal Reserve showed, in which senior credit officers of 94 American and foreign banks took part. Banks have softened the standards for issuing loans to finance trade and industrial operations of companies, especially for borrowers with annual revenues in excess of $50 million. This is due to increased competition in the sector, as well as improved prospects for the economy and a reduction in uncertainty. The survey participants also pointed to the “moderate weakening” of demand for loans for construction, development of land and various types of housing mortgages.
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