Total bank lending rose to $12.1 trillion in the seven days ended April 19 from $12.09 trillion in the prior week, the Federal Reserve said Friday.
Deposits at banks rose slightly to $17.20 trillion from $17.18 trillion in the prior week. They are down from $17.26 over the past month.Deposits at banks rose slightly to $17.20 trillion from $17.18 trillion in the prior week. They are down from $17.26 over the past month.Key details: Lending at small and large banks both increased in the week.
Deposits at large banks rose to $10.597 trillion from $10.587 trillion in the prior week. Deposits at the big banks are down from $10.65 trillion one month ago. Big picture: First Republic Bank FRC reported earlier this week that the bank lost $100 billion in deposits in the first quarter, sparking fears about the bank’s viability and raising renewed concerns about the health of the entire sector.“My savings account wasn’t paying anything until a few months ago,” said chief economist Eugenio Aleman of Raymond James. “People started to figure out they could make much more money through other means. Banks had to react fast.
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