Loan demand continued to be "brisk" at banks over the last six weeks, though consumer loan demand fell in some areas, according to a survey of banker sentiment by the Federal Reserve district banks.
The Fed said Wednesday that commercial lending increased in the Fed's Chicago, Kansas City, Philadelphia, and Richmond regions, according to the Beige Book. But consumer loan demand softened in the Chicago, Cleveland, Richmond, and New York districts.
Credit quality was mixed. It remained solid in the southeastern and western states, but reserves were increased in the St. Louis district in response to delinquency rate concerns. Credit standards were tightened in New York and New Jersey.
Strong economic growth overall continued nationwide, but some slowing and weak spots showed. The Beige Book is compiled by the 12 Federal Reserve banks to help the Federal Open Market Committee set monetary policy. The next Open Market Committee meeting is slated for Nov. 16.
-- Katharine Fraser