Might 12 (Reuters) – Deposits at U.S. banks climbed in early Might, ticking up from the bottom stage in practically two years whereas financial institution lending was little modified at a report stage, Federal Reserve knowledge launched on Friday confirmed.
Deposits climbed to $17.16 trillion within the week ended Might 3, up about $67 billion to mark the primary enhance in 4 weeks, the Fed’s weekly snapshot of the banking system’s belongings and liabilities confirmed. Deposits, which had dropped considerably after the collapse in March of Silicon Valley Financial institution, rose at each giant and small banks.
Complete financial institution credit score was little modified at $17.37 trillion, whereas loans and leases for U.S. households and companies held at a report excessive $12.12 trillion, though annual mortgage development is now the slowest in a few yr.
Reporting By Dan Burns; modifying by Jonathan Oatis
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