Banks and the Economy

Fed Survey: Banks Continue to Tighten on CRE Lending

Bankers continued tightening credit for commercial real estate and certain consumer loans in the first quarter of 2017, while easing slightly on commercial and industrial lending, according to the Federal Reserve’s latest senior loan officer survey released today.

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Consumer Credit Growth Strong in March

Consumer credit increased at a seasonally adjusted annual rate of 5.2% in March, up from a revised 4.4% rate in February. Total outstanding credit increased $16.4 billion during the month (compared with $13.8 billion in February) to $3.81 trillion. Revolving credit grew at an annual rate of 2.4% to $1.0 trillion, compared to a 2.0% increase in February. Non-revolving credit ...

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Agencies Publish FAQs on Resolution Planning

The Federal Reserve and the FDIC today published the answers to frequently asked questions about guidance issued last year on the resolution plans that the nation’s eight largest banks are required to submit detailing how they would be wound down in the event of bankruptcy. The FAQs address capital and liquidity requirements and forecasting, governance mechanisms, management of critical third-party ...

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211,000 Jobs Added in April

Total nonfarm payroll employment rose by 211,000 in April, an increase from March’s downwardly revised figure of 79,000, according to the Bureau of Labor Statistics. The national unemployment rate moved down to 4.4%, the lowest rate in more than 10 years. Private service-providing industries added a net 173,000 jobs, led by gains in leisure and hospitality services, which added 55,000 ...

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Manufactured Goods Orders Rose in March

New orders for manufactured goods increased 0.2% to $478.2 billion in March, according to the U.S. Census Bureau. The March reading followed a 1.2% February increase. New orders for manufactured durable goods rose 0.9% to $239.4 billion, the third consecutive month of growth. Orders for transportation equipment drove the increase, rising 2.6% to $83.6 billion. Shipments of manufactured durable goods increased ...

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International Trade Balance Narrowed in March

The U.S. international trade deficit narrowed slightly in March to $43.7 billion, down from $43.8 billion in February, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. The overall decrease reflected a $1.7 billion decrease in exports along with a $1.7 billion decrease in imports. The goods deficit decreased $0.3 billion to $65.5 billion, while the ...

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Job Cuts Declined in April

Employers announced plans to cut 36,602 jobs in April, according to a report issued by Challenger, Gray & Christmas. April’s announced cuts were 15% less than March’s. The month’s figure was 43% lower than April 2016. The retail sector continues to lead the way in job cuts, with 50,133 so far this year. This is 36% higher than the same ...

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