Banking Conditions Survey

Special questions

Special Questions

September 2026

For this survey, respondents were asked supplemental questions about credit standards, loan demand and interest rates. Data were collected September 15–23, and 58 bankers responded to the survey.

1. How do you expect credit standards and terms to change over the next three months for the following loan categories?

	Ease considerably (percent)	Ease somewhat (percent)	Remain unchanged (percent)	Tighten somewhat (percent)	Tighten considerably (percent)
Commercial and industrial	0.0	3.8	71.7	24.5	0.0
Commercial real estate	0.0	3.7	66.7	29.6	0.0
Residential real estate	0.0	0.0	73.7	26.3	0.0
Consumer	0.0	5.2	67.2	24.1	3.4

NOTES: 58 responses. This question was most recently posed in June '26.

2. Over the past six weeks, how has loan demand changed for the following loan categories?

	Increased	No change	Decreased
Commercial and industrial	18.9	60.4	20.8
Commercial real estate	28.3	49.1	22.6
Residential real estate	21.1	43.9	35.1
Consumer	14.0	49.1	36.8

NOTES: 57 responses. This question was most recently posed in June '26.

3. Over the next six months, how do you expect loan demand to change for the following loan categories?

	Increased	No change	Decreased
Commercial and industrial	26.4	37.7	35.8
Commercial real estate	22.6	39.6	37.7
Residential real estate	10.7	37.5	51.8
Consumer	14.0	50.9	35.1

NOTES: 57 responses. This question was most recently posed in June '26.

4. As of September 15, the federal funds target rate is in the range of 3.5–3.75. What do you expect the federal funds target range to be at the end of 2026?

	Median	Mode	Range
Mar. '24	4.75-5	4.75-5	0.25-5.5
Jun. '24	5-5.25	5-5.25	0.25-5.5
Oct. '24	4.25-4.5	4.25-4.5	3.25-5
Aug. '25	3.75-4	3.75-4	3-4.5
Sep. '26	3.75-4	3.75-4	0-5.5

NOTE: 58 responses.

Special Questions Comments

Survey participants are given the opportunity to submit comments. Some comments have been edited for grammar and clarity.

The Fed should leave the rate alone until next year.
Inflation is rising again and interest rates will continue to rise as well.
Something must be done to curb inflation.

Questions regarding the Banking Conditions Survey can be addressed to Mariam Yousuf at mariam.yousuf@dal.frb.org.