Average total loans and leases at U.S. commercial banks increased $40.9 billion to $9.221 trillion in May, largely due to a $22.20 billion uptick in "Other loans and leases" and a $14.10 billion increase in real estate loans, according to the Federal Reserve's June 9 H.8 report.
"Other loans and leases" include federal funds, reverse repurchase agreements, as well as loans for purchasing or carrying securities, loans to finance agricultural production, loans to foreign governments and foreign banks, obligations of states and political subdivisions, loans to nonbank depository institutions, loans to nondepository financial institutions, unplanned overdrafts, loans not elsewhere classified, and lease financing receivables.
Over the last year, average total loans have grown by roughly 4.0%. In April, average total loans rose by $46.6 billion, but in both March and February, average total loans contracted.
Average total deposits at U.S. commercial banks hit $11.736 trillion in May, an $81.40 billion increase month over month.
|
