The April 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) addressed changes in the standards, terms, and demand for bank loans to businesses and households over the past three months, which generally correspond to the first quarter of 2023.

Regarding loans to businesses, survey respondents reported, on balance, tighter standards and weaker demand for commercial and industrial (C&I) loans to large and middle-market firms as well as small firms over the first quarter. Meanwhile, banks reported tighter standards and weaker demand for all commercial real estate (CRE) loan categories.

For household loans, banks reported tightening lending standards across all residential real estate (RRE) loan categories. Demand weakened for all RRE loan categories. Banks also indicated tighter standards and weaker demand for home equity lines of credit (HELOCs). Standards tightened for all consumer loan categories; demand weakened for auto and other consumer loans while remaining unchanged for credit cards.

This release includes additional comments in the text that further disaggregate large and mid-sized banks. The largest banks are defined as those with total domestic assets of $250 billion or more as of December 31, 2022, and mid-sized banks as those with assets between $50 billion and $250 billion.