Fed survey: US banks growing wary of lending

UNITED STATES - The US Federal Reserve has conducted a impromtu survey of senior loan officers at US banks to establish how the slowdown in 2001 is affecting their lending policies. Normally the senior loan opinion survey on bank lending practices is conducted quarterly (with the last survey in January). However the Fed is clearly keen to spot any credit crunch early and has exercised its option to conduct the survey more frequently.

According to the results two-thrids of loan officers at US