Average total loans at U.S. commercial banks grew by $23.6 billion to $9.412 trillion in September, according to the Federal Reserve's Oct. 12 H.8 report. This growth was driven primarily by a $12.1 billion increase in commercial real estate loans and an $11.7 billion increase in closed-end residential loans, offset by a $2.7 billion drop in revolving home equity loans.
Average loans and leases at large commercial banks grew by $5.9 billion month over month, helped by a $5.6 billion increase in closed-end residential real estate loans. Average loans and leases at small commercial banks gained $20.7 billion, led by commercial real estate loans. Loans at foreign-related institutions decreased by $3 billion.
Meanwhile, total deposits at U.S. commercial banks increased by $9.6 billion in September.
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