Investitng.com – Deposits and lending activity at U.S. commercial banks fell in the week ended June 28, latest data from the Federal Reserve showed, snapping a two-week streak of gains.
Deposits at major U.S. banks fell by $900 million from a week ago to 28, trillion dollars.
Commercial bank lending slips $.9B to seasonally adjusted $. 28T this week.
Residential loans fell $4.1B, commercial real estate loans rose $2.1B, while consumer loans fell $1.6B from the previous week. On a seasonally adjusted basis, commercial and industrial loans were down $7.9B from a week earlier.
Bank lending activity continues to be closely monitored as investors remain wary of the fallout from the spring banking turmoil that has yet to fully filter through the economy, with more lending standards likely to tighten further and dampen the economy increase.
