Senior Loan Officer Survey (SLOOS)
Track bank lending standards from the Fed's Senior Loan Officer Survey. Tightening credit means less lending and slower economic growth.
Current Value
Trigger Level: Net tightening >20% = credit crunch
AI Analysis
As of February 22, 2026, the SLOOS Lending Standards indicator shows a net tightening of 5.3%, indicating a modest tightening of credit conditions. This trend suggests that lending standards are becoming stricter, which could signal increased recession risk if it continues to worsen. Currently, the tightening is below the critical threshold of 20%, but it is a situation to watch closely.
What is the SLOOS Lending?
The Senior Loan Officer Opinion Survey (SLOOS) is a quarterly Fed survey of up to 80 large banks tracking changes in lending standards and loan demand for business and consumer loans.
Why It Matters for Recession Risk
When banks tighten lending standards, credit becomes harder to obtain — slowing business investment and consumer spending. Net tightening above 20% has historically been associated with recessions or near-recession conditions.
Historical Context
Lending standards tightened dramatically before both the 2001 and 2008 recessions. Current standards remain on the tighter end of the range observed since 2005, reflecting ongoing bank caution.
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