Senior Loan Officer Opinion Survey on Bank Lending Practices (SOSLP)

DEFINITION of 'Senior Loan Officer Opinion Survey on Bank Lending Practices (SOSLP)'

A quarterly survey completed by 75 banks consisting of 53 domestic and 23 foreign branches operating in the United States. The Senior Loan Officer Opinion Survey on Bank Lending Practices (SOSLP) gathers information on how officials feel about policy changes made, possible future policy changes and changes in supply/demand for certain products. The survey is completed in time to be discussed at the quarterly Federal Open Market Committee (FOMC) meetings.

BREAKING DOWN 'Senior Loan Officer Opinion Survey on Bank Lending Practices (SOSLP)'

The 2009 survey focused on the change in demand and supply of loans, changes in the available lines of credit and the use of interest rate floors being set for floating rate loan agreements. All topics discussed related to both personal and commercial customers. For a complete reading of the survey results visit the Federal Reserve Board website.