Total Bank Loans and Leases Reach New Record -- MrSwing

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Total Bank Loans and Leases Reach New Record
Oct 15, 2008

Dr. Mark J. Perry

CARPE DIEM
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According to banking data from the Federal Reserve that was updated today, Total Loans and Leases of Commercial Banks in the U.S. continue to grow, and have doubled from $3.5 trillion in 1999 to $7 trillion in 2008. On a monthly basis, Total Bank Loans and Leases exceeded $7 trillion for the first time in September 2008, and reached $7.258 trillion by the first week of October.

We keep hearing news reports that describe U.S. credit markets as being "tight," "frozen," "seized-up," "ultra-tight," "drum tight," etc. Why isn't that much-publicized credit tightness showing up in commercial bank loan data, which keeps setting record highs, and is now more than $7 trillion?