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Banks ease credit rules, demand grows as U.S. economy motors ahead -Fed survey

Banks largely eased credit standards for businesses, commercial real estate investors and households in the third quarter of the year, as the U.S. economy weathered the latest wave of the coronavirus pandemic, a Federal Reserve survey reported on Monday. The Fed’s Senior Loan Officer Survey, offering evidence of continued momentum for the economy, said banks “generally reported having eased standards” for business loans by lowering rates, expanding credit lines or imposing less restrictive terms. The banks “cited a more favorable or less uncertain economic outlook” as well as more competition among lenders and “an increased tolerance for risk” amid general improvement in markets and the economic outlook, the Fed reported.

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