» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 127 | NO. 153 | Tuesday, August 07, 2012

Survey: Tighter US Loan Standards for Europe Banks

AP

Print | Front Page | Email this story | Comments ()

WASHINGTON (AP) — A Federal Reserve survey finds that more than half of U.S. banks that lend to European banks continue to tighten their credit standards. That reflects the U.S. banks' concern over the deepening European debt crisis.

Of the 22 U.S. banks surveyed that make loans to European banks, one said it had tightened its standards "considerably" for such loans in the second quarter. Another 13 banks, or 59 percent, said they had pulled in the lending reins "somewhat" during the April-June period, according to the survey released Monday.

The debt crisis gripping the 17 countries that use the euro has pushed much of the region into a recession. Many European banks are heavily exposed to government debt, making them a greater risk.

U.S. banks generally eased standards for loans to businesses.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 79 320 1,063
MORTGAGES 115 443 1,369
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 163 509 2,022
BANKRUPTCIES 119 275 779
BUSINESS LICENSES 26 110 326
UTILITY CONNECTIONS 46 281 777
MARRIAGE LICENSES 8 49 184

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.