Such standards remain relatively tight even though more than one-half of banks expect an improvement in the quality of commercial real estate loans. And, importantly for small business owners, the commercial bank Call Reports indicated that as of the end of last year, the loans secured by owner-occupied property had continued to outperform other commercial real estate loans.
2 One associate from the San Francisco Federal Reserve Bank recounts a meeting at the height of the crisis when staff suggested their exhausted boss should take a break from the round-the-clock emergency meetings. Then-President Yellen stated that she had an obligation to continue working until such time that families were no longer losing their homes, their livelihoods, and their pensions.