U.S. industrial production rose 0.7 percent in July, following a 0.4 percent increase the month prior, the Federal Reserve said yesterday. Production was down 0.5 percent year-on-year, however. Manufacturing in July was up 0.5 percent, marking a 0.2 percent year-on-year gain. Utility output was up 2.1 percent in July and 3.5 percent year-on-year, while mining rose 0.7 percent in July but was down 10.2 percent year-on-year.
Agencies update host-state loan-to-deposit ratios
The federal banking agencies issued updated host-state loan-to-deposit ratios that they will use to determine compliance with Section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act.