Fed Survey: Banks eased standards on commercial and industrial loans in Q2

The US Federal Reserve noted in its quarterly Senior Loan Officer Survey that banks eased standards on commercial, industrial and household loans in the second quarter, as reported by Reuters.

"Major net shares of banks cited a more favorable or less uncertain economic outlook, more aggressive competition from other banks on nonbank lenders, and improvements in industry-specific problems as important reasons," the Fed's publication read. 

Market reaction

This report doesn't seem to be having a significant impact on market sentiment. As of writing, the S&P 500 and the Nasdaq Composite indexes were up 0.15% and 0.36% on a daily basis, respectively.