According to the October survey of senior loan officers by the Federal Reserve,
“…On net, about 95% of U.S. banks reported having tightened the costs of credit lines to large and medium-sized firms, while nearly 90% reported such tightening for smaller firms.”
This on top of the substantial cuts made by most banks to consumer credit lines.
To read the entire grim report, CLICK HERE. As reported in the OC REGISTER.
