The Board of Governors of the Federal Reserve System has approved the extension, without changes, of the Senior Credit Officer Opinion Survey on Dealer Financing Terms (FR 2034) for three years. This survey, conducted quarterly, gathers information from 25 financial institutions about credit terms and market conditions. Although the Board asked for public comments on this extension, no comments were received. The survey is voluntary and part of the information it collects helps understand credit availability and demand.
Simple Explanation
The Federal Reserve asked banks for help understanding loan and market conditions, but no one had anything to say about it. They're going to keep asking the same questions for three more years to help them learn about how easy or hard it is to get loans.