U.S. bank loans to reach $10 trillion monthly milestone
Topics: U.S. BANK TRILLION
The report explains the value of bank credit of all commercial banks in the United States is also close to reaching $14 trillion.
LearnBonds.com explained that Bank Credit of U.S. commercial banks in October 2019 reached $13.72 trillion U.S. dollars, representing an increase of 6.52% compared to October 2018. In order for bank credit to surpass $14 trillion, the industry would have to expand by over 2% in the next few months.
Since 2012 that the market is expanding and growing year over year. Between 2008 and 2012 the bank credit of all commercial banks in the country remained stable with values ranging between $8.6 and $9.1 trillion.
Moreover, loans and leases in bank credit are also expected to reach new highs in the near future. The report shows that they could eventually surpass the $10 trillion monthly mark.
On the matter, the report says: "This is expected to happen in the coming months and there is a large possibility for this to take place before the end of 2019."
"It is worth pointing out that if this doesn’t happen in the coming months, there is a large possibility for it to take place during the first quarter of the next year." ■