Update
Fed Tightens Bank Lending Standards
The Federal Reserve's Nov. 2 lending survey shows that 12 of 50 domestic banks tightened loan approval standards for nonbank financial firms, while 37 left them unchanged. The tightening is attributed to a less favorable or more uncertain economic outlook and deterioration in borrowers' financial strength. Banks also reported stronger demand from business credit intermediaries and private-equity funds, despite the tightening standards.