According to a survey released today of senior loan officers conducted by the Federal Reserve, the expectation is for the quality of existing loans to continue to deteriorate through the remainder of 2009.
In addition, overall the bankers reported that they tightened residential mortgage loan standards, while the percentage of those reporting tight commercial lending standards, while still high, had declined a little since the survey was conducted in January.
In short, 2009 continues to look like a nasty year, with perhaps some hope looming for early 2010.
Quotes Every Financial Leader Needs to Read
A few weeks ago, I started another series of our Financial Leadership Workshop, and in Day 1, we discuss that paradigm shift that needs to take place to go from accounting to financial leadership. So, I compiled all the quotes from all of my curriculum that make me think… How can I lead my company differently? What can I