U.S. bank deposits rise, lending falls in latest week: Fed
Invesitng.com — Bank deposits rose, but lending fell in the week ended July.5, the latest data from the Fed showed.
Deposits at large U.S. banks rose by $24.9 billion to $17.368 trillion from a week earlier, on a seasonally adjusted basis.
The rise in deposits comes just as investors digested quarterly earnings from major Wall Street banks including JPMorgan (NYSE:JPM) and Wells Fargo (NYSE:WFC), with both warning that customer deposits were likely to decline further.
Commercial bank lending slipped $7.00B to a seasonally adjusted $12.091T during the week, the Fed data showed.
Residential lending decreased $11.3B, commercial real estate loans climbed $2.1B, while consumer loans were down $8.6B from the prior week. Commercial and industrial loans were slightly up $0.2B from a week ago on a seasonally adjusted basis.
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