1 min read.Updated: 22 Mar 2021, 10:09 PM ISTBloomberg
Loans and leases slipped to 49.7% of total assets, the lowest reading in data going back to 1973
Home loans, as a share of total assets, fell to another all-time low
U.S. bank lending fell to a new low this month, Federal Reserve data show, as a cash-rich banking system continues its cautious approach to making new loans, Federal Reserve data show.
Total loans and leases dropped to 62.8% of bank deposits in the week ended March 10. Lenders use deposits to fund new credit for their customers. Total assets at U.S. banks climbed 0.7% to $21 trillion, according to the Fed.