C&I loans

On the question of whether or not banks are lending and also where the level of demand is for loans, weekly Commercial and Industrial loan data (out on Friday) can be a helpful gauge. C&I loans outstanding for the week ended Aug 5th fell by $4.6b to $1.475t, the lowest since the week ended Feb 13th ’08. It’s fallen for 9 of the past 10 weeks. The peak seen was $1.654t outstanding back in Oct ’08. In the prior recession, C&I loans fell gradually from Jan ’01 through May ’04 even though the recession technically ended in Nov ’01 according to the NBER.

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