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Small banks, foreign-related companies push loans higher in November — H.8

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Small banks, foreign-related companies push loans higher in November — H.8

Small commercial banks and foreign-related institutions helped push average total loans and leases at U.S. commercial banks up by $45.9 billion to $9.463 trillion in November, according to the Federal Reserve's Dec. 15 H.8 report. The increase was driven by a $23.2 billion increase in "other" loans and leases, a $13.4 billion increase in credit cards and other revolving loans, and an $8.8 billion increase in commercial real estate loans.

Average loans and leases at large commercial banks increased by $7.9 billion month over month, while average loans and leases at small commercial banks and foreign-related institutions increased by $20.3 billion and $17.6 billion, respectively.

On the other hand, average total deposits at U.S. commercial banks declined by $1.0 billion in November, compared to a $68.6 billion surge in October and a $36.4 billion gain in September.

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