WASHINGTON — Consumer loan demand remained mixed, while business loan demand picked up in several regions across the country, according to a report released Wednesday by the Federal Reserve Board.
The central bank's Beige Book, a periodic report on economic conditions at the Fed's 12 reserve banks, said loan demand was up in the Cleveland, Richmond and St. Louis districts, while it held steady or weakened in the New York, Atlanta, Dallas and San Francisco districts.
Demand for residential mortgages increased in Cleveland, while it held steady in New York, Richmond, St. Louis and Kansas City.
The central bank noted a "modest uptick" in business loan demand, across several regions, including Philadelphia, Cleveland, Richmond, Atlanta, Chicago, Dallas and San Francisco.
Credit standards were mixed with a slight leaning toward improvement. New York, Cleveland and Atlanta said credit availability had risen for auto loans, while Atlanta, Minneapolis and San Francisco indicated easier credit for certain business loans.
Several districts noted improvements in overall credit quality, including Philadelphia, Cleveland, Richmond, Kansas City, Dallas and San Francisco.
The Cleveland Fed said that credit quality "of business and consumer applicants was characterized as steady or improving. Delinquency rates were stable or trending down across loan portfolios, with the exception of real estate."
