Bank Lending Surveys
Treasury launched the monthly bank lending surveys as part of its commitment to Congress and the public to enhance communication and transparency about its programs to stabilize the financial system. The surveys are designed to provide new, more frequent and more accessible information on banks' lending activities to help taxpayers easily assess the lending and other activities of banks receiving government investments.
THE
MONTHLY LENDING AND INTERMEDIATION
SNAPSHOT
Summary Analysis:
December 2009
Treasury's thirteenth survey of banks' activities was conducted as economic and financial conditions continued to improve. Real GDP jumped 5.7 percent at an annual rate in the fourth quarter of 2009, accelerating sharply from the third quarter's 2.2 percent pace. The pickup was due mainly to a sharp slowdown in the pace of inventory liquidation, but even excluding inventories real final sales were up a solid 2.2 percent. Housing starts and home sales both slowed in December but special factors -- including poor weather and the expected expiration of the first-time homebuyer tax credit (which was recently extended) -- may have played a role. House prices continued to stabilize and mortgage rates remained at low levels, providing support to sales. Labor market conditions remained weak heading into 2010, but the employment situation continued to show signs of stabilization. The unemployment rate fell to 9.7 percent in January from 10.0 percent in December. Payrolls continued to shrink but job losses have gotten noticeably smaller, averaging 35,000 over the three months ending in January compared to 260,000 in the third quarter. Several measures of financial risk have returned to pre-crisis norms, indicating a return to relative stability in some markets. Indicators of consumer spending early in 2010 (about 70 percent of GDP) are mixed; auto sales fell in January but consumer confidence edged higher. Private forecasters expect the economy to continue to grow in the first quarter, at about a 3 percent annual rate. . Read more…
THE CAPITAL PURCHASE PROGRAM MONTHLY LENDING REPORT
Summary Analysis: December
2009
The CPP Monthly Lending Report includes all participants in the CPP and is published in addition to the Monthly Lending and Intermediation Snapshot. The Lending Report makes available three data points on a monthly basis: average outstanding balances of consumer loans, commercial loans, and total loans from all CPP participants. Read more...
