Printer Friendly

Lending by big banks drops in US.

Global Banking News-17 December 2009-Lending by big banks drops in US(C)2009 ENPublishing - http://www.enpublishing.co.uk

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.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

((Distributed via M2 Communications - http://www.m2.com))
COPYRIGHT 2009 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:Dec 17, 2009
Words:156
Previous Article:US Treasury delays Citi share sale.
Next Article:Bank of America names CEO.


Related Articles
FEI Member Tapped For Fed Post.
New Board Governors Bies and Olson sworn in to office. (Announcements).
Bies and Ruffle inducted into FEI's Hall of Fame.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters