Lending by big banks drops in US.
Global Banking News - 17 December 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk
Figures released by the Federal Reserve shows that lending by big banks has dropped by 10-15% in the US.
According to the Fed's report, lending by the four biggest banks in the country is down by 15%. Between April and October this year the banks cut their commercial and industrial lending by USD100bn. Loans to small businesses are down by four per cent, or USD7bn.
The survey also showed that the number of loans made was down by nine per cent from last year (October 2008-October 2009). The outstanding balance of all loans made went up by five per cent.
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|Publication:||Global Banking News (GBN)|
|Date:||Dec 17, 2009|
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