(click on image to enlarge)
BOTTOM LINE: According to the Federal Reserve Bank of St. Louis, commercial and industrial loans by large commercial banks are still right near record levels at $782.3 billion. As you can see from the graph above, before the 1990-1991 and 2001 recessions, commercial lending activity slowed meaningfully. This is a large positive, especially considering the housing downturn began almost three years ago, the credit market turmoil began last year and the overwhelming belief by investors/consumers that the US has been in recession for some time.
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