Q1 2026 SLOOS Domestic Survey

OMB No. 7100-0058
Approval expires May 31, 2027

FR 2018

Senior Loan Officer Opinion Survey
on Bank Lending Practices
January 2026
Questionnaire for U.S. Chartered Commercial Banks

Table of Contents

Page

Commercial and Industrial (C&I) Lending

1

Commercial Real Estate (CRE) Lending

7

Residential Real Estate Lending

10

Consumer Lending

17

Special Questions: Outlook for Lending Standards
and Loan Demand over 2026

21

Special Questions: Outlook for Asset Quality over 2026

31

Special Questions: C&I Lending Standards To Firms with
Varying Exposure to AI

36

Optional Question

37

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January 2026 Senior Loan Officer Opinion Survey

Commercial and Industrial (C&I) Lending
Questions 1-6 ask about commercial and industrial (C&I) loans at your bank. Questions
1-3 deal with changes in your bank’s lending policies over the past three months. Questions
4-5 deal with changes in demand for C&I loans over the past three months. Question 6
asks about changes in prospective demand for C&I loans at your bank, as indicated by the
volume of recent inquiries about the availability of new credit lines or increases in existing
lines. If your bank’s lending policies have not changed over the past three months, please
report them as unchanged even if the policies are either restrictive or accommodative relative
to longer-term norms. If your bank’s policies have tightened or eased over the past three
months, please so report them regardless of how they stand relative to longer-term norms.
Also, please report changes in enforcement of existing policies as changes in policies.

1. Over the past three months, how have your bank’s credit standards for approving applications for C&I loans or credit lines—other than those to be used to finance mergers
and acquisitions—to large and middle-market firms and to small firms changed? (If your
bank defines firm size differently from the categories suggested below, please use your
definitions and indicate what they are.)
A. Standards for large and middle-market firms (annual sales of $50 million or
more):
1.
2.
3.
4.
5.
6.

Tightened considerably
Tightened somewhat
Remained basically unchanged
Eased somewhat
Eased considerably
My bank does not originate C&I loans or credit lines to large and middle-market
firms

B. Standards for small firms (annual sales of less than $50 million):
1.
2.
3.
4.
5.
6.

Tightened considerably
Tightened somewhat
Remained basically unchanged
Eased somewhat
Eased considerably
My bank does not originate C&I loans or credit lines to small firms

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2. For applications for C&I loans or credit lines—other than those to be used to finance
mergers and acquisitions—from large and middle-market firms and from small firms that
your bank currently is willing to approve, how have the terms of those loans changed over
the past three months? (Please assign each term a number between 1 and 5 using the
following scale: 1=tightened considerably, 2=tightened somewhat, 3=remained basically
unchanged, 4=eased somewhat, 5=eased considerably.)
A. Terms for large and middle-market firms (annual sales of $50 million or more):
a.
b.
c.
d.
e.
f.
g.
h.
i.

Maximum size of credit lines
Maximum maturity of loans or credit lines
Costs of credit lines
Spreads of loan rates over your bank’s cost of funds (wider spreads=tightened,
narrower spreads=eased)
Premiums charged on riskier loans
Loan covenants
Collateralization requirements
Use of interest rate floors (more use=tightened, less use=eased)
Other (please specify)

B. Terms for small firms (annual sales of less than $50 million):
a.
b.
c.
d.
e.
f.
g.
h.
i.

Maximum size of credit lines
Maximum maturity of loans or credit lines
Costs of credit lines
Spreads of loan rates over your bank’s cost of funds (wider spreads=tightened,
narrower spreads=eased)
Premiums charged on riskier loans
Loan covenants
Collateralization requirements
Use of interest rate floors (more use=tightened, less use=eased)
Other (please specify)

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January 2026 Senior Loan Officer Opinion Survey
3. If your bank has tightened or eased its credit standards or its terms for C&I loans or
credit lines over the past three months (as described in questions 1 and 2), how important
have the following possible reasons been for the change? (Please respond to either A, B,
or both as appropriate and rate each possible reason using the following scale: 1=not
important, 2=somewhat important, 3=very important.)
A. Possible reasons for tightening credit standards or loan terms:
a.
b.
c.
d.
e.
f.
g.
h.
i.

Deterioration in your bank’s current or expected capital position
Less favorable or more uncertain economic outlook
Worsening of industry-specific problems (please specify industries)
Less aggressive competition from other banks or nonbank lenders (other financial intermediaries or the capital markets)
Reduced tolerance for risk
Decreased liquidity in the secondary market for these loans
Deterioration in your bank’s current or expected liquidity position
Increased concerns about the effects of legislative changes, supervisory actions, or changes in accounting standards
Other (please specify)

B. Possible reasons for easing credit standards or loan terms:
a.
b.
c.
d.
e.
f.
g.
h.
i.

Improvement in your bank’s current or expected capital position
More favorable or less uncertain economic outlook
Improvement in industry-specific problems (please specify industries)
More aggressive competition from other banks or nonbank lenders (other
financial intermediaries or the capital markets)
Increased tolerance for risk
Increased liquidity in the secondary market for these loans
Improvement in your bank’s current or expected liquidity position
Reduced concerns about the effects of legislative changes, supervisory actions,
or changes in accounting standards
Other (please specify)

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4. Apart from normal seasonal variation, how has demand for C&I loans changed over the
past three months? (Please consider only funds actually disbursed as opposed to requests
for new or increased lines of credit.)
A. Demand for C&I loans from large and middle-market firms (annual sales of $50
million or more):
1.
2.
3.
4.
5.
6.

Substantially stronger
Moderately stronger
About the same
Moderately weaker
Substantially weaker
My bank does not originate C&I loans or credit lines to large and middle-market
firms

B. Demand for C&I loans from small firms (annual sales of less than $50 million):
1.
2.
3.
4.
5.
6.

Substantially stronger
Moderately stronger
About the same
Moderately weaker
Substantially weaker
My bank does not originate C&I loans or credit lines to small firms

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5. If demand for C&I loans has strengthened or weakened over the past three months (as
described in question 4), how important have the following possible reasons been for the
change? (Please respond to either A, B, or both as appropriate and rate each possible
reason using the following scale: 1=not important, 2=somewhat important, 3=very
important.)
A. If stronger loan demand (answer 1 or 2 to question 4A or 4B), possible reasons:
a.
b.
c.
d.
e.
f.

Customer inventory financing needs increased
Customer accounts receivable financing needs increased
Customer investment in plant or equipment increased
Customer internally generated funds decreased
Customer merger or acquisition financing needs increased
Customer borrowing shifted to your bank from other bank or nonbank sources
because these other sources became less attractive
g. Customer precautionary demand for cash and liquidity increased
h. Other (please specify)
B. If weaker loan demand (answer 4 or 5 to question 4A or 4B), possible reasons:
a.
b.
c.
d.
e.
f.

Customer inventory financing needs decreased
Customer accounts receivable financing needs decreased
Customer investment in plant or equipment decreased
Customer internally generated funds increased
Customer merger or acquisition financing needs decreased
Customer borrowing shifted from your bank to other bank or nonbank sources
because these other sources became more attractive
g. Customer precautionary demand for cash and liquidity decreased
h. Other (please specify)

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6. At your bank, apart from seasonal variation, how has the number of inquiries from
potential business borrowers regarding the availability and terms of new credit lines or
increases in existing lines changed over the past three months? (Please consider only
inquiries for additional or increased C&I lines as opposed to the refinancing of existing
loans.)
1. The number of inquiries has increased substantially
2. The number of inquiries has increased moderately
3. The number of inquiries has stayed about the same
4. The number of inquiries has decreased moderately
5. The number of inquiries has decreased substantially
6. My bank does not originate C&I lines of credit

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Commercial Real Estate (CRE) Lending
Questions 7-12 ask about changes in standards and demand over the past three months
for three different types of CRE loans at your bank: construction and land development
loans, loans secured by nonfarm nonresidential properties, and loans secured by multifamily
residential properties. Please report changes in enforcement of existing policies as changes
in policies.

7. Over the past three months, how have your bank’s credit standards for approving new
applications for construction and land development loans or credit lines changed?
1. Tightened considerably
2. Tightened somewhat
3. Remained basically unchanged
4. Eased somewhat
5. Eased considerably
6. My bank does not originate construction and land development loans or credit lines
8. Over the past three months, how have your bank’s credit standards for approving new
applications for loans secured by nonfarm nonresidential properties changed?
1. Tightened considerably
2. Tightened somewhat
3. Remained basically unchanged
4. Eased somewhat
5. Eased considerably
6. My bank does not originate loans secured by nonfarm nonresidential properties

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9. Over the past three months, how have your bank’s credit standards for approving new
applications for loans secured by multifamily residential properties changed?
1. Tightened considerably
2. Tightened somewhat
3. Remained basically unchanged
4. Eased somewhat
5. Eased considerably
6. My bank does not originate loans secured by multifamily residential properties
10. Apart from normal seasonal variation, how has demand for construction and land development loans changed over the past three months? (Please consider the number of
requests for new spot loans, for disbursement of funds under existing loan commitments,
and for new or increased credit lines.)
1. Substantially stronger
2. Moderately stronger
3. About the same
4. Moderately weaker
5. Substantially weaker
6. My bank does not originate construction and land development loans or credit lines
11. Apart from normal seasonal variation, how has demand for loans secured by nonfarm
nonresidential properties changed over the past three months? (Please consider the
number of requests for new spot loans, for disbursement of funds under existing loan
commitments, and for new or increased credit lines.)
1. Substantially stronger
2. Moderately stronger
3. About the same
4. Moderately weaker
5. Substantially weaker
6. My bank does not originate loans secured by nonfarm nonresidential properties

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January 2026 Senior Loan Officer Opinion Survey
12. Apart from normal seasonal variation, how has demand for loans secured by multifamily residential properties changed over the past three months? (Please consider
the number of requests for new spot loans, for disbursement of funds under existing loan
commitments, and for new or increased credit lines.)
1. Substantially stronger
2. Moderately stronger
3. About the same
4. Moderately weaker
5. Substantially weaker
6. My bank does not originate loans secured by multifamily residential properties

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Residential Real Estate Lending
Note: Beginning with the January 2015 survey, the loan categories referred to in the questions regarding changes in credit standards and demand for residential mortgage loans have
been revised to reflect the Consumer Financial Protection Bureau’s qualified mortgage rules.
Questions 13-14 ask about seven categories of residential mortgage loans at your
bank: Government-Sponsored Enterprise eligible (GSE-eligible) residential mortgages, government residential mortgages, Qualified Mortgage non-jumbo non-GSE-eligible (QM nonjumbo, non-GSE-eligible) residential mortgages, QM jumbo residential mortgages, non-QM
jumbo residential mortgages, non-QM non-jumbo residential mortgages, and subprime residential mortgages. For the purposes of this survey, please use the following definitions of
these loan categories and include first-lien closed-end loans to purchase homes only. The
loan categories have been defined so that every first-lien closed-end residential mortgage loan
used for home purchase fits into one of the following seven categories:

• The GSE-eligible category of residential mortgages includes loans that meet the underwriting guidelines, including loan limit amounts, of the GSEs - Fannie Mae and
Freddie Mac.
• The government category of residential mortgages includes loans that are insured
by the Federal Housing Administration, guaranteed by the Department of Veterans
Affairs, or originated under government programs, including the U.S. Department of
Agriculture home loan programs.
• The QM non-jumbo, non-GSE-eligible category of residential mortgages includes
loans that satisfy the standards for a qualified mortgage and have loan balances that
are below the loan limit amounts set by the GSEs but otherwise do not meet the GSE
underwriting guidelines.
• The QM jumbo category of residential mortgages includes loans that satisfy the
standards for a qualified mortgage but have loan balances that are above the loan limit
amount set by the GSEs.
• The non-QM jumbo category of residential mortgages includes loans that do not
satisfy the standards for a qualified mortgage and have loan balances that are above
the loan limit amount set by the GSEs.
• The non-QM non-jumbo category of residential mortgages includes loans that do
not satisfy the standards for a qualified mortgage and have loan balances that are
below the loan limit amount set by the GSEs.(Please exclude loans classified by your
bank as subprime in this category.)

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• The subprime category of residential mortgages includes loans classified by your bank
as subprime. This category typically includes loans made to borrowers with weakened
credit histories that include payment delinquencies, charge-offs, judgements, and/or
bankruptcies; reduced repayment capacity as measured by credit scores or debt-toincome ratios; or incomplete credit histories.
Question 13 deals with changes in your bank’s credit standards for loans in each of the seven
loan categories over the past three months. If your bank’s credit standards have not changed
over the relevant period, please report them as unchanged even if the standards are either
restrictive or accommodative relative to longer-term norms. If your bank’s credit standards
have tightened or eased over the relevant period, please so report them regardless of how they
stand relative to longer-term norms. Also, please report changes in enforcement of existing
standards as changes in standards. Question 14 deals with changes in demand for loans in
each of the seven loan categories over the past three months.

13. Over the past three months, how have your bank’s credit standards for approving applications from individuals for mortgage loans to purchase homes changed? (Please consider
only new originations as opposed to the refinancing of existing mortgages.)
A. Credit standards on mortgage loans that your bank categorizes as GSE-eligible
residential mortgages have:
1.
2.
3.
4.
5.
6.

Tightened considerably
Tightened somewhat
Remained basically unchanged
Eased somewhat
Eased considerably
My bank does not originate GSE-eligible residential mortgages

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B. Credit standards on mortgage loans that your bank categorizes as government
residential mortgages have:
1.
2.
3.
4.
5.
6.

Tightened considerably
Tightened somewhat
Remained basically unchanged
Eased somewhat
Eased considerably
My bank does not originate government residential mortgages

C. Credit standards on mortgage loans that your bank categorizes as QM non-jumbo,
non-GSE-eligible residential mortgages have:
1.
2.
3.
4.
5.
6.

Tightened considerably
Tightened somewhat
Remained basically unchanged
Eased somewhat
Eased considerably
My bank does not originate QM non-jumbo, non-GSE-eligible residential mortgages

D. Credit standards on mortgage loans that your bank categorizes as QM jumbo residential mortgages have:
1.
2.
3.
4.
5.
6.

Tightened considerably
Tightened somewhat
Remained basically unchanged
Eased somewhat
Eased considerably
My bank does not originate QM jumbo residential mortgages

E. Credit standards on mortgage loans that your bank categorizes as non-QM jumbo
residential mortgages have:
1.
2.
3.
4.
5.
6.

Tightened considerably
Tightened somewhat
Remained basically unchanged
Eased somewhat
Eased considerably
My bank does not originate non-QM jumbo residential mortgages

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F. Credit standards on mortgage loans that your bank categorizes as non-QM nonjumbo residential mortgages have:
1.
2.
3.
4.
5.
6.

Tightened considerably
Tightened somewhat
Remained basically unchanged
Eased somewhat
Eased considerably
My bank does not originate non-QM non-jumbo residential mortgages

G. Credit standards on mortgage loans that your bank categorizes as subprime residential mortgages have:
1.
2.
3.
4.
5.
6.

Tightened considerably
Tightened somewhat
Remained basically unchanged
Eased somewhat
Eased considerably
My bank does not originate subprime residential mortgages

14. Apart from normal seasonal variation, how has demand for mortgages to purchase homes
changed over the past three months? (Please consider only applications for new originations as opposed to applications for refinancing of existing mortgages.)
A. Demand for mortgages that your bank categorizes as GSE-eligible residential mortgages was:
1.
2.
3.
4.
5.
6.

Substantially stronger
Moderately stronger
About the same
Moderately weaker
Substantially weaker
My bank does not originate GSE-eligible residential mortgages

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January 2026 Senior Loan Officer Opinion Survey
B. Demand for mortgages that your bank categorizes as government residential mortgages was:
1.
2.
3.
4.
5.
6.

Substantially stronger
Moderately stronger
About the same
Moderately weaker
Substantially weaker
My bank does not originate government residential mortgages

C. Demand for mortgages that your bank categorizes as QM non-jumbo, non-GSEeligible residential mortgages was:
1.
2.
3.
4.
5.
6.

Substantially stronger
Moderately stronger
About the same
Moderately weaker
Substantially weaker
My bank does not originate QM non-jumbo, non-GSE-eligible residential mortgages

D. Demand for mortgages that your bank categorizes as QM jumbo residential mortgages was:
1.
2.
3.
4.
5.
6.

Substantially stronger
Moderately stronger
About the same
Moderately weaker
Substantially weaker
My bank does not originate QM jumbo residential mortgages

E. Demand for mortgages that your bank categorizes as non-QM jumbo residential
mortgages was:
1.
2.
3.
4.
5.
6.

Substantially stronger
Moderately stronger
About the same
Moderately weaker
Substantially weaker
My bank does not originate non-QM jumbo residential mortgages

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F. Demand for mortgages that your bank categorizes as non-QM non-jumbo residential mortgages was:
1.
2.
3.
4.
5.
6.

Substantially stronger
Moderately stronger
About the same
Moderately weaker
Substantially weaker
My bank does not originate non-QM non-jumbo residential mortgages

G. Demand for mortgages that your bank categorizes as subprime residential mortgages
was:
1.
2.
3.
4.
5.
6.

Substantially stronger
Moderately stronger
About the same
Moderately weaker
Substantially weaker
My bank does not originate subprime residential mortgages

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Questions 15-16 ask about revolving home equity lines of credit at your bank. Question 15 deals with changes in your bank’s credit standards over the past three months. Question 16 deals with changes in demand. If your bank’s credit standards have not changed over
the relevant period, please report them as unchanged even if they are either restrictive or
accommodative relative to longer-term norms. If your bank’s credit standards have tightened
or eased over the relevant period, please so report them regardless of how they stand relative
to longer-term norms. Also, please report changes in enforcement of existing standards as
changes in standards.

15. Over the past three months, how have your bank’s credit standards for approving
applications for revolving home equity lines of credit changed?
1. Tightened considerably
2. Tightened somewhat
3. Remained basically unchanged
4. Eased somewhat
5. Eased considerably
6. My bank does not originate revolving home equity lines of credit
16. Apart from normal seasonal variation, how has demand for revolving home equity
lines of credit changed over the past three months? (Please consider only funds
actually disbursed as opposed to requests for new or increased lines of credit.)
1. Substantially stronger
2. Moderately stronger
3. About the same
4. Moderately weaker
5. Substantially weaker
6. My bank does not originate revolving home equity lines of credit

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Consumer Lending
Questions 17-26 ask about consumer lending at your bank. Question 17 deals with changes
in your bank’s willingness to make consumer installment loans over the past three months.
Questions 18-23 deal with changes in credit standards and loan terms over the same period. Questions 24-26 deal with changes in demand for consumer loans over the past three
months. If your bank’s lending policies have not changed over the past three months, please
report them as unchanged even if the policies are either restrictive or accommodative relative
to longer-term norms. If your bank’s policies have tightened or eased over the past three
months, please so report them regardless of how they stand relative to longer-term norms.
Also, please report changes in enforcement of existing policies as changes in policies.

17. Please indicate your bank’s willingness to make consumer installment loans now as
opposed to three months ago. (This question covers the range of consumer installment
loans defined as consumer loans with a set number of scheduled payments, such as auto
loans, student loans, and personal loans. It does not cover credit cards and other types
of revolving credit, nor mortgages, which are included under the residential real estate
questions.)
1. Much more willing
2. Somewhat more willing
3. About unchanged
4. Somewhat less willing
5. Much less willing
6. My bank does not originate consumer installment loans
18. Over the past three months, how have your bank’s credit standards for approving applications for credit cards from individuals or households changed?
1. Tightened considerably
2. Tightened somewhat
3. Remained basically unchanged
4. Eased somewhat
5. Eased considerably
6. My bank does not originate credit card loans to individuals or households

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19. Over the past three months, how have your bank’s credit standards for approving applications for auto loans to individuals or households changed? (Please include loans
arising from retail sales of passenger cars and other vehicles such as minivans, vans,
sport-utility vehicles, pickup trucks, and similar light trucks for personal use, whether
new or used. Please exclude loans to finance fleet sales, personal cash loans secured by
automobiles already paid for, loans to finance the purchase of commercial vehicles and
farm equipment, and lease financing.)
1. Tightened considerably
2. Tightened somewhat
3. Remained basically unchanged
4. Eased somewhat
5. Eased considerably
6. My bank does not originate auto loans to individuals or households
20. Over the past three months, how have your bank’s credit standards for approving applications for consumer loans other than credit card and auto loans changed?
1. Tightened considerably
2. Tightened somewhat
3. Remained basically unchanged
4. Eased somewhat
5. Eased considerably
6. My bank does not originate consumer loans other than credit card or auto loans
21. Over the past three months, how has your bank changed the following terms and conditions on new or existing credit card accounts for individuals or households? (Please
assign each term a number between 1 and 5 using the following scale: 1=tightened considerably, 2=tightened somewhat, 3=remained basically unchanged, 4=eased somewhat,
5=eased considerably.)
a. Credit limits
b. Spreads of interest rates charged on outstanding balances over your bank’s cost
of funds (wider spreads=tightened, narrower spreads=eased)
c. Minimum percent of outstanding balances required to be repaid each month
d. Minimum required credit score (increased score=tightened, reduced score=eased)
e. The extent to which loans are granted to some customers that do not meet credit
scoring thresholds (increased=eased, decreased=tightened)
f. Other (please specify)

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22. Over the past three months, how has your bank changed the following terms and conditions on loans to individuals or households to purchase autos? (Please assign
each term a number between 1 and 5 using the following scale: 1=tightened considerably,
2=tightened somewhat, 3=remained basically unchanged, 4=eased somewhat, 5=eased
considerably.)
a. Maximum maturity
b. Spreads of loan rates over your bank’s cost of funds (wider spreads=tightened,
narrower spreads=eased)
c. Minimum required down payment (higher=tightened, lower=eased)
d. Minimum required credit score (increased score=tightened, reduced score=eased)
e. The extent to which loans are granted to some customers that do not meet credit
scoring thresholds (increased=eased, decreased=tightened)
f. Other (please specify)
23. Over the past three months, how has your bank changed the following terms and conditions on consumer loans other than credit card and auto loans? (Please assign
each term a number between 1 and 5 using the following scale: 1=tightened considerably,
2=tightened somewhat, 3=remained basically unchanged, 4=eased somewhat, 5=eased
considerably.)
a. Maximum maturity
b. Spreads of loan rates over your bank’s cost of funds (wider spreads=tightened,
narrower spreads=eased)
c. Minimum required down payment (higher=tightened, lower=eased)
d. Minimum required credit score (increased score=tightened, reduced score=eased)
e. The extent to which loans are granted to some customers that do not meet credit
scoring thresholds (increased=eased, decreased=tightened)
f. Other (please specify)

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24. Apart from normal seasonal variation, how has demand from individuals or households
for credit card loans changed over the past three months?
1. Substantially stronger
2. Moderately stronger
3. About the same
4. Moderately weaker
5. Substantially weaker
6. My bank does not originate credit card loans to individuals or households
25. Apart from normal seasonal variation, how has demand from individuals or households
for auto loans changed over the past three months?
1. Substantially stronger
2. Moderately stronger
3. About the same
4. Moderately weaker
5. Substantially weaker
6. My bank does not originate auto loans to individuals or households
26. Apart from normal seasonal variation, how has demand from individuals or households
for consumer loans other than credit card and auto loans changed over the past
three months?
1. Substantially stronger
2. Moderately stronger
3. About the same
4. Moderately weaker
5. Substantially weaker
6. My bank does not originate consumer loans other than credit card or auto loans

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Special Questions: Outlook for Lending Standards
and Loan Demand over 2026
Questions 27 - 30 ask how your bank expects its lending standards for select categories
of C&I, commercial real estate, residential real estate, and consumer loans to
change over 2026. Question 31 asks about the reasons why your bank expects lending
standards to change.

27. Assuming that economic activity progresses in line with consensus forecasts, how does
your bank expect its lending standards for the following C&I loan categories to
change over 2026 compared to its current standards, apart from normal seasonal variation? (Please refer to the definitions of large and middle-market firms suggested in
question 1. If your bank defines firm size differently from the categories suggested in
question 1, please use your definitions.)
A. Compared to my bank’s current lending standards, over 2026, my bank expects its
lending standards for approving applications for C&I loans or credit lines to
large and middle-market firms to:
1.
2.
3.
4.
5.
6.

Tighten considerably
Tighten somewhat
Remain basically unchanged
Ease somewhat
Ease considerably
My bank does not originate C&I loans or credit lines to large and middle-market
firms

B. Compared to my bank’s current lending standards, over 2026, my bank expects its
lending standards for approving applications for C&I loans or credit lines to
small firms to:
1.
2.
3.
4.
5.
6.

Tighten considerably
Tighten somewhat
Remain basically unchanged
Ease somewhat
Ease considerably
My bank does not originate C&I loans or credit lines to small firms

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28. Assuming that economic activity progresses in line with consensus forecasts, how does
your bank expect its lending standards for the following commercial real estate
loan categories to change over 2026 compared to its current standards, apart from normal
seasonal variation?
A. Compared to my bank’s current lending standards, over 2026, my bank expects its
lending standards for approving applications for construction and land development loans or credit lines to:
1.
2.
3.
4.
5.
6.

Tighten considerably
Tighten somewhat
Remain basically unchanged
Ease somewhat
Ease considerably
My bank does not originate construction and land development loans or credit
lines

B. Compared to my bank’s current lending standards, over 2026, my bank expects its
lending standards for approving applications for loans secured by nonfarm
nonresidential properties to:
1.
2.
3.
4.
5.
6.

Tighten considerably
Tighten somewhat
Remain basically unchanged
Ease somewhat
Ease considerably
My bank does not originate loans secured by nonfarm nonresidential properties

C. Compared to my bank’s current lending standards, over 2026, my bank expects its
lending standards for approving applications for loans secured by multifamily
residential properties to:
1.
2.
3.
4.
5.
6.

Tighten considerably
Tighten somewhat
Remain basically unchanged
Ease somewhat
Ease considerably
My bank does not originate loans secured by multifamily residential properties

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29. Assuming that economic activity progresses in line with consensus forecasts, how does
your bank expect its lending standards for the following residential real estate loan
categories to change over 2026 compared to its current standards, apart from normal
seasonal variation?
A. Compared to my bank’s current lending standards, over 2026, my bank expects
its lending standards for approving applications for GSE-eligible residential
mortgage loans to:
1.
2.
3.
4.
5.
6.

Tighten considerably
Tighten somewhat
Remain basically unchanged
Ease somewhat
Ease considerably
My bank does not originate GSE-eligible residential mortgage loans

B. Compared to my bank’s current lending standards, over 2026, my bank expects its
lending standards for approving applications for nonconforming jumbo residential mortgage loans to:
1.
2.
3.
4.
5.
6.

Tighten considerably
Tighten somewhat
Remain basically unchanged
Ease somewhat
Ease considerably
My bank does not originate nonconforming jumbo residential mortgage loans

30. Assuming that economic activity progresses in line with consensus forecasts, how does
your bank expect its lending standards for the following consumer loan categories
to change over 2026 compared to its current standards, apart from normal seasonal
variation?
A. Compared to my bank’s current lending standards, over 2026, my bank expects its
lending standards for approving applications for credit card loans to:
1.
2.
3.
4.
5.
6.

Tighten considerably
Tighten somewhat
Remain basically unchanged
Ease somewhat
Ease considerably
My bank does not originate credit card loans

B. Compared to my bank’s current lending standards, over 2026, my bank expects its
lending standards for approving applications for auto loans to:
1. Tighten considerably

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2.
3.
4.
5.
6.

Tighten somewhat
Remain basically unchanged
Ease somewhat
Ease considerably
My bank does not originate auto loans

31. If your bank expects to tighten or ease its lending standards for any of the loan categories
reported in questions 27-30, how important are the following possible reasons for the
expected change in standards? (Please respond to either A, B or both as appropriate
and rate each possible reason using the following scale: 1=not important, 2=somewhat
important, 3=very important.)
A. Possible reasons for expecting to tighten lending standards:
a. Less favorable or more uncertain economic outlook
b. Expected deterioration in, or desire to improve, your bank’s capital or liquidity position
c. Expected deterioration in customers’ collateral values
d. Expected reduction in competition from other banks or nonbank lenders
e. Expected reduction in risk tolerance
f. Expected reduction in ease of selling loans in the secondary market
g. Expected deterioration in credit quality of loan portfolio
h. Increased concerns about your bank’s funding costs
i. Increased concerns about the adverse effects of legislative changes, supervisory actions, or changes in accounting standards
j. Other (please specify)

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B. Possible reasons for expecting to ease lending standards:
a.
b.
c.
d.
e.
f.
g.
h.
i.

More favorable or less uncertain economic outlook
Expected improvement in your bank’s capital or liquidity position
Expected improvement in customers’ collateral values
Expected increase in competition from other banks or nonbank lenders
Expected increase in risk tolerance
Expected increase in ease of selling loans in the secondary market
Expected improvement in credit quality of loan portfolio
Reduced concerns about your bank’s funding costs
Reduced concerns about the adverse effects of legislative changes, supervisory
actions, or changes in accounting standards
j. Other (please specify)

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Questions 32 - 35 ask how your bank expects demand for select categories of C&I,
commercial real estate, residential real estate, and consumer loans from your
bank to change over 2026. Question 36 asks about the reasons why your bank expects
demand from your bank to change.

32. Assuming that economic activity progresses in line with consensus forecasts, how does
your bank expect demand for the following categories of C&I loans from your bank
to change over 2026 compared to its current level, apart from normal seasonal variation?
(Please refer to the definitions of large and middle-market firms suggested in question
1. If your bank defines firm size differently from the categories suggested in question 1,
please use your definitions.)
A. Compared to its current level, over 2026, my bank expects demand for C&I loans
or credit lines to large and middle-market firms from my bank to:
1.
2.
3.
4.
5.

Strengthen substantially
Strengthen somewhat
Remain basically unchanged
Weaken somewhat
Weaken substantially

B. Compared to its current level, over 2026, my bank expects demand for C&I loans
or credit lines to small firms from my bank to:
1.
2.
3.
4.
5.

Strengthen substantially
Strengthen somewhat
Remain basically unchanged
Weaken somewhat
Weaken substantially

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33. Assuming that economic activity progresses in line with consensus forecasts, how does
your bank expect demand for the following categories of commercial real estate
loans from your bank to change over 2026 compared to its current level, apart from
normal seasonal variation?
A. Compared to its current level, over 2026, my bank expects demand for construction and land development loans or credit lines from my bank to:
1.
2.
3.
4.
5.

Strengthen substantially
Strengthen somewhat
Remain basically unchanged
Weaken somewhat
Weaken substantially

B. Compared to its current level, over 2026, my bank expects demand for loans secured by nonfarm nonresidential properties from my bank to:
1.
2.
3.
4.
5.

Strengthen substantially
Strengthen somewhat
Remain basically unchanged
Weaken somewhat
Weaken substantially

C. Compared to its current level, over 2026, my bank expects demand for loans secured by multifamily residential properties from my bank to:
1.
2.
3.
4.
5.

Strengthen substantially
Strengthen somewhat
Remain basically unchanged
Weaken somewhat
Weaken substantially

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34. Assuming that economic activity progresses in line with consensus forecasts, how does
your bank expect demand for the following categories of residential real estate loans
from your bank to change over 2026 compared to its current level, apart from normal
seasonal variation?
A. Compared to its current level, over 2026, my bank expects demand for GSEeligible residential mortgage loans from my bank to:
1.
2.
3.
4.
5.

Strengthen substantially
Strengthen somewhat
Remain basically unchanged
Weaken somewhat
Weaken substantially

B. Compared to its current level, over 2026, my bank expects demand for nonconforming jumbo residential mortgage loans from my bank to:
1.
2.
3.
4.
5.

Strengthen substantially
Strengthen somewhat
Remain basically unchanged
Weaken somewhat
Weaken substantially

35. Assuming that economic activity progresses in line with consensus forecasts, how does
your bank expect demand for the following categories of consumer loans from your
bank to change over 2026 compared to its current level, apart from normal seasonal
variation?
A. Compared to its current level, over 2026, my bank expects demand for credit card
loans from my bank to:
1.
2.
3.
4.
5.

Strengthen substantially
Strengthen somewhat
Remain basically unchanged
Weaken somewhat
Weaken substantially

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January 2026 Senior Loan Officer Opinion Survey
B. Compared to its current level, over 2026, my bank expects demand for auto loans
from my bank to:
1.
2.
3.
4.
5.

Strengthen substantially
Strengthen somewhat
Remain basically unchanged
Weaken somewhat
Weaken substantially

36. If your bank expects demand from your bank to change over 2026 compared to its current
level and apart from normal seasonal variation for any of the loan categories reported
in Questions 32 - 35, how important are the following possible reasons for the
expected change in demand? (Please respond to either A, B or both as appropriate
and rate each possible reason using the following scale: 1=not important, 2=somewhat
important, 3=very important.)
A. Possible reasons for expecting stronger loan demand:
a. Customers are expected to face higher spending or investment needs due to
more favorable or less uncertain income prospects
b. Customer precautionary demand for cash and liquidity is expected to increase
c. Interest rates are expected to decline, strengthening loan demand
d. More favorable terms other than interest rates are expected to increase loan
demand
e. Customer spending or investment needs are expected to increase for reasons
not listed above
f. Customer borrowing is expected to shift to your bank from other bank sources
because these other sources become less attractive
g. Customer borrowing is expected to shift to your bank from other nonbank
sources because these other sources become less attractive
h. Other (please specify)

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B. Possible reasons for expecting weaker loan demand:
a. Customers are expected to face lower spending or investment needs due to
less favorable or more uncertain income prospects
b. Customer precautionary demand for cash and liquidity is expected to decrease
c. Interest rates are expected to increase, weakening loan demand
d. Less favorable terms other than interest rates are expected to reduce loan
demand
e. Customer spending or investment needs are expected to decrease for reasons
not listed above
f. Customer borrowing is expected to shift from your bank to other bank sources
because these other sources become more attractive
g. Customer borrowing is expected to shift from your bank to other nonbank
sources because these other sources become more attractive
h. Other (please specify)

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Special Questions: Outlook for Asset Quality over
2026
Questions 37 - 40 ask about your bank’s expectations for the behavior of loan delinquencies and charge-offs on selected categories of C&I, commercial real estate, residential
real estate, and consumer loans in 2026.

37. Assuming that economic activity progresses in line with consensus forecasts, what is your
outlook for delinquencies and charge-offs on your bank’s C&I loans in the following
categories in 2026? (Please refer to the definitions of large and middle-market firms and
of small firms suggested in question 1. If your bank defines firm size differently from the
categories suggested in question 1, please use your definitions.)
A. The quality of my bank’s C&I loans to large and middle-market firms over
2026, as measured by my bank’s outlook for delinquencies and charge-offs on these
loans, is likely to:
1.
2.
3.
4.
5.

Improve substantially
Improve somewhat
Remain around current levels
Deteriorate somewhat
Deteriorate substantially

B. The quality of my bank’s C&I loans to small firms over 2026, as measured by my
bank’s outlook for delinquencies and charge-offs on these loans, is likely to:
1.
2.
3.
4.
5.

Improve substantially
Improve somewhat
Remain around current levels
Deteriorate somewhat
Deteriorate substantially

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38. Assuming that economic activity progresses in line with consensus forecasts, what is
your outlook for delinquencies and charge-offs on your bank’s commercial real estate
loans in the following categories in 2026?
A. The quality of my bank’s construction and land development loans over 2026,
as measured by my bank’s outlook for delinquencies and charge-offs on these loans,
is likely to:
1.
2.
3.
4.
5.

Improve substantially
Improve somewhat
Remain around current levels
Deteriorate somewhat
Deteriorate substantially

B. The quality of my bank’s loans secured by nonfarm nonresidential properties
over 2026, as measured by my bank’s outlook for delinquencies and charge-offs on
these loans, is likely to:
1.
2.
3.
4.
5.

Improve substantially
Improve somewhat
Remain around current levels
Deteriorate somewhat
Deteriorate substantially

C. The quality of my bank’s loans secured by multifamily residential properties
over 2026, as measured by my bank’s outlook for delinquencies and charge-offs on
these loans, is likely to:
1.
2.
3.
4.
5.

Improve substantially
Improve somewhat
Remain around current levels
Deteriorate somewhat
Deteriorate substantially

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January 2026 Senior Loan Officer Opinion Survey
39. Assuming that economic activity progresses in line with consensus forecasts, what is your
outlook for delinquencies and charge-offs on your bank’s residential real estate loans
in the following categories in 2026?
A. The quality of my bank’s GSE-eligible residential mortgage loans over 2026, as
measured by my bank’s outlook for delinquencies and charge-offs on these loans, is
likely to:
1.
2.
3.
4.
5.

Improve substantially
Improve somewhat
Remain around current levels
Deteriorate somewhat
Deteriorate substantially

B. The quality of my bank’s nonconforming jumbo residential mortgage loans
over 2026, as measured by my bank’s outlook for delinquencies and charge-offs on
these loans, is likely to:
1.
2.
3.
4.
5.

Improve substantially
Improve somewhat
Remain around current levels
Deteriorate somewhat
Deteriorate substantially

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40. Assuming that economic activity progresses in line with consensus forecasts, what is
your outlook for delinquencies and charge-offs on your bank’s consumer loans in the
following categories in 2026?
A. The quality of my bank’s credit card loans to prime borrowers over 2026, as
measured by my bank’s outlook for delinquencies and charge-offs on these loans, is
likely to:
1.
2.
3.
4.
5.

Improve substantially
Improve somewhat
Remain around current levels
Deteriorate somewhat
Deteriorate substantially

B. The quality of my bank’s credit card loans to nonprime borrowers over 2026,
as measured by my bank’s outlook for delinquencies and charge-offs on these loans,
is likely to:
1.
2.
3.
4.
5.

Improve substantially
Improve somewhat
Remain around current levels
Deteriorate somewhat
Deteriorate substantially

C. The quality of my bank’s auto loans to prime borrowers over 2026, as measured
by my bank’s outlook for delinquencies and charge-offs on these loans, is likely to:
1.
2.
3.
4.
5.

Improve substantially
Improve somewhat
Remain around current levels
Deteriorate somewhat
Deteriorate substantially

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D. The quality of my bank’s auto loans to nonprime borrowers over 2026, as measured by my bank’s outlook for delinquencies and charge-offs on these loans, is likely
to:
1.
2.
3.
4.
5.

Improve substantially
Improve somewhat
Remain around current levels
Deteriorate somewhat
Deteriorate substantially

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Special Questions: C&I Lending Standards to Firms
with Varying Exposure to AI
Question 41 asks about any changes in your bank’s likelihood of approving C&I loan applications from borrowers in sectors with varying exposures to AI. Question 42 asks you to
assess how AI affects different sectors. Answer both questions based on your best judgment
of borrowers’ exposure to AI.

41. Relative to January 2025, how much more or less likely is your bank to
approve a C&I loan application from borrowers in sectors with varying levels
of AI exposure? In each case, assume that all other borrower characteristics are typical
for C&I loan applications from borrowers in that sector. (Please assign each borrower
category a number using the following scale: 1=much more likely, 2=somewhat more
likely, 3=about as likely, 4=somewhat less likely, 5=much less likely.)
A. C&I loans to firms in sectors benefiting from high AI exposure.
B. C&I loans to firms in sectors adversely affected by high AI exposure.
C. C&I loans to firms in sectors with little AI exposure.
42. How do you rate the impact of AI on your borrowers operating in the following sectors? (Please use the following scale: 1=very beneficial, 2=somewhat beneficial,
3=no impact, 4=somewhat harmful, 5=very harmful, 6=my bank does not lend to firms
in these sectors.)
A. Firms in digital infrastructure and hardware manufacturing sectors (including data processing, software development, telecommunications, computational hardware).
B. Firms in energy and utility sectors (including electricity generation and distribution).
C. Firms in knowledge-intensive business and professional services sectors
(including finance, insurance, scientific, and administrative services).
D. Firms in transportation, logistics, and commerce sectors (including transportation and warehousing, wholesale, and retail trade).
E. Firms in traditional manufacturing and construction sectors (including
machinery, textiles, chemicals, and building construction).
F. Firms in personal and community service sectors (including education,
healthcare, accommodation, and food services).

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Optional Question
Question 43 requests feedback on any other issues you judge to be important but are not
addressed in this survey.

43. Are there any other recent developments in lending practices not addressed in this survey
that you find particularly significant? Your response will help us stay abreast of breaking
issues and in choosing questions for future surveys. There is no need to reply if you have
nothing you would like to add.

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