FR 2018 Q2 SLOOS Foreign

OMB No. 7100-0058
Approval expires May 31, 2027

FR 2018

Senior Loan Officer Opinion Survey
on Bank Lending Practices
April 2025
Questionnaire for U.S. Branches and Agencies of Foreign
Banks

Table of Contents

Page

Commercial and Industrial (C&I) Lending

1

Commercial Real Estate (CRE) Lending

7

Special Questions: Commercial Real Estate Lending

8

Special Questions: Commercial Real Estate Lending Secured
by Office Properties

12

Optional Question

14

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sponsor, and an organization (or a person) is not required to respond to a collection of
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April 2025 Senior Loan Officer Opinion Survey

Commercial and Industrial (C&I) Lending
Questions 1-6 ask about commercial and industrial (C&I) loans at your bank. Questions
1-3 deal with changes in your bank’s lending policies over the past three months. Questions
4-5 deal with changes in demand for C&I loans over the past three months. Question 6
asks about changes in prospective demand for C&I loans at your bank, as indicated by the
volume of recent inquiries about the availability of new credit lines or increases in existing
lines. If your bank’s lending policies have not changed over the past three months, please
report them as unchanged even if the policies are either restrictive or accommodative relative
to longer-term norms. If your bank’s policies have tightened or eased over the past three
months, please so report them regardless of how they stand relative to longer-term norms.
Also, please report changes in enforcement of existing policies as changes in policies.

1. Over the past three months, how have your bank’s credit standards for approving applications for C&I loans or credit lines—other than those to be used to finance mergers
and acquisitions—changed?
1. Tightened considerably
2. Tightened somewhat
3. Remained basically unchanged
4. Eased somewhat
5. Eased considerably
6. My bank does not originate C&I loans or credit lines

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2. For applications for C&I loans or credit lines—other than those to be used to finance
mergers and acquisitions—that your bank currently is willing to approve, how have the
terms of those loans changed over the past three months? (Please assign each term a number between 1 and 5 using the following scale: 1=tightened considerably, 2=tightened
somewhat, 3=remained basically unchanged, 4=eased somewhat, 5=eased considerably.)
a. Maximum size of credit lines
b. Maximum maturity of loans or credit lines
c. Costs of credit lines
d. Spreads of loan rates over your bank’s cost of funds (wider spreads=tightened,
narrower spreads=eased)
e. Premiums charged on riskier loans
f. Loan covenants
g. Collateralization requirements
h. Use of interest rate floors (more use=tightened, less use=eased)
i. Other (please specify)

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3. If your bank has tightened or eased its credit standards or its terms for C&I loans or
credit lines over the past three months (as described in questions 1 and 2), how important
have the following possible reasons been for the change? (Please respond to either A, B,
or both as appropriate and rate each possible reason using the following scale: 1=not
important, 2=somewhat important, 3=very important.)
A. Possible reasons for tightening credit standards or loan terms:
a.
b.
c.
d.
e.
f.
g.
h.
i.

Deterioration in your bank’s current or expected capital position
Less favorable or more uncertain economic outlook
Worsening of industry-specific problems (please specify industries)
Less aggressive competition from other banks or nonbank lenders (other financial intermediaries or the capital markets)
Reduced tolerance for risk
Decreased liquidity in the secondary market for these loans
Deterioration in your bank’s current or expected liquidity position
Increased concerns about the effects of legislative changes, supervisory actions, or accounting standards
Other (please specify)

B. Possible reasons for easing credit standards or loan terms:
a.
b.
c.
d.
e.
f.
g.
h.
i.

Improvement in your bank’s current or expected capital position
More favorable or less uncertain economic outlook
Improvement in industry-specific problems (please specify industries)
More aggressive competition from other banks or nonbank lenders (other
financial intermediaries or the capital markets)
Increased tolerance for risk
Increased liquidity in the secondary market for these loans
Improvement in your bank’s current or expected liquidity position
Reduced concerns about the effects of legislative changes, supervisory actions,
or accounting standards
Other (please specify)

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4. Apart from normal seasonal variation, how has demand for C&I loans changed over the
past three months? (Please consider only funds actually disbursed as opposed to requests
for new or increased lines of credit.)
1. Substantially stronger
2. Moderately stronger
3. About the same
4. Moderately weaker
5. Substantially weaker
6. My bank does not originate C&I loans or credit lines

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5. If demand for C&I loans has strengthened or weakened over the past three months (as
described in question 4), how important have the following possible reasons been for the
change? (Please respond to either A, B, or both as appropriate and rate each possible
reason using the following scale: 1=not important, 2=somewhat important, 3=very
important.)
A. If stronger loan demand (answer 1 or 2 to question 4), possible reasons:
a.
b.
c.
d.
e.
f.

Customer inventory financing needs increased
Customer accounts receivable financing needs increased
Customer investment in plant or equipment increased
Customer internally generated funds decreased
Customer merger or acquisition financing needs increased
Customer borrowing shifted to your bank from other bank or nonbank sources
because these other sources became less attractive
g. Customer precautionary demand for cash and liquidity increased
h. Other (please specify)
B. If weaker loan demand (answer 4 or 5 to question 4), possible reasons:
a.
b.
c.
d.
e.
f.

Customer inventory financing needs decreased
Customer accounts receivable financing needs decreased
Customer investment in plant or equipment decreased
Customer internally generated funds increased
Customer merger or acquisition financing needs decreased
Customer borrowing shifted from your bank to other bank or nonbank sources
because these other sources became more attractive
g. Customer precautionary demand for cash and liquidity decreased
h. Other (please specify)

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6. At your bank, apart from normal seasonal variation, how has the number of inquiries
from potential business borrowers regarding the availability and terms of new credit lines
or increases in existing lines changed over the past three months? (Please consider only
inquiries for additional or increased C&I lines as opposed to the refinancing of existing
loans.)
1. The number of inquiries has increased substantially
2. The number of inquiries has increased moderately
3. The number of inquiries has stayed about the same
4. The number of inquiries has decreased moderately
5. The number of inquiries has decreased substantially
6. My bank does not originate C&I lines of credit

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Commercial Real Estate (CRE) Lending
Questions 7-8 ask about commercial real estate (CRE) loans at your bank, including
construction and land development loans and loans secured by nonfarm nonresidential properties. Question 7 deals with changes in your bank’s standards over the past three months.
Question 8 deals with changes in demand. If your bank’s lending standards or terms have
not changed over the relevant period, please report them as unchanged even if they are either restrictive or accommodative relative to longer-term norms. If your bank’s standards
or terms have tightened or eased over the relevant period, please so report them regardless
of how they stand relative to longer-term norms. Also, please report changes in enforcement
of existing standards as changes in standards.

7. Over the past three months, how have your bank’s credit standards for approving applications for CRE loans or credit lines changed?
1. Tightened considerably
2. Tightened somewhat
3. Remained basically unchanged
4. Eased somewhat
5. Eased considerably
6. My bank does not originate CRE loans
8. Apart from normal seasonal variation, how has demand for CRE loans or credit lines
changed over the past three months? (Please consider the number of requests for new
spot loans, for disbursement of funds under existing loan commitments, and for new or
increased credit lines.)
1. Substantially stronger
2. Moderately stronger
3. About the same
4. Moderately weaker
5. Substantially weaker
6. My bank does not originate CRE Loans

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Special Questions: Commercial Real Estate
Lending
Questions 9-12 ask how your bank has changed its lending policies over the past year for
three different types of commercial real estate (CRE) loans: construction and land
development loans, loans secured by nonfarm nonresidential properties, and loans secured
by multifamily residential properties.Question 13 asks about changes in demand for CRE
loans over the past year.

9. Over the past year, how has your bank changed the following policies on construction
and land development loans? (Please assign each policy a number between 1 and 5
using the following scale: 1=tightened considerably, 2=tightened somewhat, 3=remained
basically unchanged, 4=eased somewhat, 5=eased considerably.)
My bank does not originate construction and land development loans (Skip to the
next question)
a. Maximum loan size
b. Maximum loan maturity
c. Spread of loan rates over your bank’s cost of funds (wider spreads=tightened,
narrower spreads=eased)
d. Loan-to-value ratios (lower ratios=tightened, higher ratios=eased)
e. Debt service coverage ratios (higher ratios=tightened, lower ratios=eased)
f. Market areas served (reduced market areas=tightened, expanded market areas=eased)
g. Length of interest-only payment period (shorter interest-only periods=tightened,
longer interest-only periods=eased)
h. Other (please specify)
10. Over the past year, how has your bank changed the following policies on loans secured
by nonfarm nonresidential properties? (Please assign each policy a number between
1 and 5 using the following scale: 1=tightened considerably, 2=tightened somewhat,
3=remained basically unchanged, 4=eased somewhat, 5=eased considerably.)
My bank does not originate nonfarm nonresidential loans (Skip to the next question)
a. Maximum loan size
b. Maximum loan maturity
c. Spread of loan rates over your bank’s cost of funds (wider spreads=tightened,
narrower spreads=eased)

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d. Loan-to-value ratios (lower ratios=tightened, higher ratios=eased)
e. Debt service coverage ratios (higher ratios=tightened, lower ratios=eased)
f. Market areas served (reduced market areas=tightened, expanded market areas=eased)
g. Length of interest-only payment period (shorter interest-only periods=tightened,
longer interest-only periods=eased)
h. Other (please specify)
11. Over the past year, how has your bank changed the following policies on loans secured
by multifamily residential properties? (Please assign each policy a number between
1 and 5 using the following scale: 1=tightened considerably, 2=tightened somewhat,
3=remained basically unchanged, 4=eased somewhat, 5=eased considerably.)
My bank does not originate multifamily loans (Skip to the next question)
a. Maximum loan size
b. Maximum loan maturity
c. Spread of loan rates over your bank’s cost of funds (wider spreads=tightened,
narrower spreads=eased)
d. Loan-to-value ratios (lower ratios=tightened, higher ratios=eased)
e. Debt service coverage ratios (higher ratios=tightened, lower ratios=eased)
f. Market areas served (reduced market areas=tightened, expanded market areas=eased)
g. Length of interest-only payment period (shorter interest-only periods=tightened,
longer interest-only periods=eased)
h. Other (please specify)
12. If your bank has tightened or eased its credit policies for CRE loans over the past year
(as described in questions 9-11 above), how important have the following possible reasons
been for the change? (Please respond to either A, B, or both as appropriate and rate
each possible reason using the following scale: 1=not important, 2=somewhat important,
3=very important.)
A. Possible reasons for tightening credit policies on CRE loans over the past year (where
tightening corresponds to answers 1 or 2 in questions 9-11 above):
a.
b.
c.
d.

Less favorable or more uncertain outlook for CRE property prices
Less favorable or more uncertain outlook for market rents on CRE properties
Less favorable or more uncertain outlook for vacancy rates on CRE properties
Less favorable or more uncertain outlook for delinquency rates on mortgages
backed by CRE properties

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e. Less aggressive competition from other banks or nonbank financial institutions (other financial intermediaries or the capital markets)
f. Reduced tolerance for risk
g. Decreased ability to securitize CRE loans
h. Increased concerns about my bank’s capital adequacy or liquidity position
i. Increased concerns about the effects of regulatory changes or supervisory
actions
j. Other (please specify)
B. Possible reasons for easing credit policies on CRE loans over the past year (where
easing corresponds to answers 4 or 5 in questions 9-11 above):
a.
b.
c.
d.
e.
f.
g.
h.
i.
j.

More favorable or less uncertain outlook for CRE property prices
More favorable or less uncertain outlook for market rents on CRE properties
More favorable or less uncertain outlook for vacancy rates on CRE properties
More favorable or less uncertain outlook for delinquency rates on mortgages
backed by CRE properties
More aggressive competition from other banks or nonbank financial institutions (other financial intermediaries or the capital markets)
Increased tolerance for risk
Increased ability to securitize CRE loans
Reduced concerns about my bank’s capital adequacy or liquidity position
Reduced concerns about the effects of regulatory changes or supervisory actions
Other (please specify)

13. If demand for CRE loans from your bank has strengthened or weakened over the past
year, how important have the following possible reasons been for the change? (Please
respond to either A, B, or both as appropriate and rate each possible reason using the
following scale: 1=not important, 2=somewhat important, 3=very important.)
A. Possible reasons for stronger CRE loan demand over the past year:
a.
b.
c.
d.
e.
f.
g.

Customer acquisition or development of properties increased
Customer refinancing of maturing loans increased
Customer outlook for rental demand became more favorable or less uncertain
General level of interest rates decreased
Customer internally generated funds decreased
Customer borrowing shifted to your bank from other banks
Customer borrowing shifted to your bank from nonbank sources (e.g., CMBS,
insurers, or debt funds)
h. Customer borrowing shifted to your bank from alternatives to CRE-backed
funding (e.g., unsecured debt or internal funding)

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i. Customer precautionary demand for cash and liquidity increased
j. Other (please specify)
B. Possible reasons for weaker CRE loan demand over the past year:
a.
b.
c.
d.
e.
f.
g.

Customer acquisition or development of properties decreased
Customer refinancing of maturing loans decreased
Customer outlook for rental demand became less favorable or more uncertain
General level of interest rates increased
Customer internally generated funds increased
Customer borrowing shifted from your bank to other banks
Customer borrowing shifted from your bank to nonbank sources (e.g., CMBS,
insurers, or debt funds)
h. Customer borrowing shifted from your bank to alternatives to CRE-backed
funding (e.g., unsecured debt or internal funding)
i. Customer precautionary demand for cash and liquidity decreased
j. Other (please specify)

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Special Questions: Commercial Real Estate
Lending Secured by Office Properties
Questions 14-15 ask how your bank has changed its lending policies over the past year
specifically for the type of CRE loans secured by nonfarm nonresidential office properties.

14. Over the past year, how has your bank changed the following policies on CRE loans secured by nonfarm nonresidential office properties? (Please assign each policy a number
between 1 and 5 using the following scale: 1=tightened considerably, 2=tightened somewhat, 3=remained basically unchanged, 4=eased somewhat, 5=eased considerably.)
My bank does not originate office loans (Skip to the next section)
a. Maximum loan size
b. Maximum loan maturity
c. Spread of loan rates over your bank’s cost of funds (wider spreads=tightened,
narrower spreads=eased)
d. Loan-to-value ratios (lower ratios=tightened, higher ratios=eased)
e. Debt service coverage ratios (higher ratios=tightened, lower ratios=eased)
f. Market areas served (reduced market areas=tightened, expanded market areas=eased)
g. Length of interest-only payment period (shorter interest-only periods=tightened,
longer interest-only periods=eased)
h. Other (please specify)

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15. If your bank has tightened or eased its credit policies for CRE loans secured by nonfarm
nonresidential office properties over the past year (as described in question 14 above),
how important have the following possible reasons been for the change? (Please respond
to either A, B, or both as appropriate and rate each possible reason using the following
scale: 1=not important, 2=somewhat important, 3=very important.)
A. Possible reasons for tightening credit policies on office loans over the past year (where
tightening corresponds to answers 1 or 2 in question 14 above):
a.
b.
c.
d.
e.

f.
g.
h.

Less favorable or more uncertain outlook for office property prices
Less favorable or more uncertain outlook for market rents on office properties
Less favorable or more uncertain outlook for vacancy rates on office properties
Less favorable or more uncertain outlook for delinquency rates on mortgages
backed by office properties
Less aggressive competition from other banks or nonbank financial institutions for loans secured by office properties (other financial intermediaries or
the capital markets)
Reduced tolerance for risk for loans secured by office properties
Decreased ability to securitize loans secured by office properties
Other (please specify)

B. Possible reasons for easing credit policies on office loans over the past year (where
easing corresponds to answers 4 or 5 in question 14 above):
a.
b.
c.
d.
e.

f.
g.
h.

More favorable or less uncertain outlook for office property prices
More favorable or less uncertain outlook for market rents on office properties
More favorable or less uncertain outlook for vacancy rates on office properties
More favorable or less uncertain outlook for delinquency rates on mortgages
backed by office properties
More aggressive competition from other banks or nonbank financial institutions for loans secured by office properties (other financial intermediaries or
the capital markets)
Increased tolerance for risk for loans secured by office properties
Increased ability to securitize loans secured by office properties
Other (please specify)

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Optional Question
Question 16 requests feedback on any other issues you judge to be important but are not
addressed in this survey.

16. Are there any other recent developments in lending practices not addressed in this survey
that you find particularly significant? Your response will help us stay abreast of breaking
issues and in choosing questions for future surveys. There is no need to reply if you have
nothing you would like to add.

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