The Fed's Tightening of Lending Standards

The economy is clearly slowed down. In the middle market space in the mid-sized companies up to 2 billion in revenue, you're seeing their line usage basically flatten out. It was still about 10% to 15% below where it was pre-pandemic but it's sort of flattened out which means they don't have as much to do with the money. So you're seeing the effects of everybody says are you tightening your standards, that goes on in times like this. The reality is that companies already have a loan in place and could use it because the cost of credit goes up either floating rate loans or fixed rates. Because their demand for their activities is not as high,