Monday, November 9, 2009

Shorter Senior Loan Officer Survey

It was, in fact, released today. Here's the money shot, as I suggested yesterday early this AM:

"Demand for most major categories of loans at domestic banks reportedly continued to weaken, on balance, over the past three months."

While banks aren't necessarily tightening credit standards as much as they had been, fewer people are showing up to borrow (as reflected in Friday's consumer credit numbers). You simply cannot force people to borrow money.