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March 4, 2024

Fewer banks are tightening lending standards, raising hopes for easier loan access ahead

  • Wall Street is now betting the Fed could start lowering rates by the middle of the year.
    • By DAMIAN J. TROISE
    AP Business Writer

    NEW YORK — Fewer banks tightened lending standards as 2023 came to a close, a hopeful sign for businesses that broader loan access is on the horizon.

    Lending standards are essentially the measures used by a bank to determine whether a business or person gets a loan. Tighter standards, such as stronger credit and collateral requirements for applicants, tracked the Federal Reserve's historic rate hikes starting in 2022. Those rate increases have successfully cooled inflation without knocking the economy into recession.


     
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