EFTA Document EFTA01388632

The supply of private debt seems relatively secure. Bank regulators have expressed some concerns regarding banks' exposure to CRE loans (the Office of the Comptroller of the Currency has flagged a loosening of underwriting standards).17 Perhaps responding to such concerns, the Federal Reserve's second quarter 2016 loan officer survey indicated that banks are tightening lending standards on commercial mortgages, particularly in the multifamily space.18 Nevertheless, attractive margins on mort