Tough times ahead for US borrowers: Fed poll

Lending standards have tightened and are set to become more stringent still, the Fed's latest lending survey shows.

The quarterly poll is based on responses from 52 domestic banks and 21 US branches of foreign institutions. It reveals that the majority of domestic institutions (60%) and a considerable proportion of foreign branches (35%) tightened their lending standards and terms for all loans in the three months to July. Credit standards for US consumers tightened considerably.

The survey a

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