Raising the credit bar, or getting clubbed by it?

The article presents the results of four polls conducted from October through mid-November2008 by the Federal Reserve Bank of Minneapolis in the Ninth District to analyze decresase of credit volume for the last three months since September. The separate surveys found that between 20 to 35 percent of firms saw access to credit went down. The results indicated that the decline in approved loans is mainly due to the rise in credit standards, decline in the number of loan applicants and to the qualities of credit applicant.