According to data gathered by LearnBonds.com, loans and leases in Bank Credit of all commercial banks in the United States could reach $10 trillion monthly soon.
Moreover, the value of bank credit of all commercial banks in the United States is close to reaching $14 trillion. Although this is unlikely to happen in 2019, it is expected to take place during the first half of 2020.
Commercial Banks Register Record Loans
Currently, Bank Credit of U.S. commercial banks in October 2019 reached $13.72 trillion U.S. dollars. This represents an increase of 6.52% compared to October 2018.
Bank credit is the total amount of credit that is available to businesses or individuals from banking institutions. Specifically, this refers to the total amount of combined funds that financial companies provide to clients, including both businesses and individuals.
For bank credit to reach $14 trillion, it will be necessary for the industry to expand over 2% in the coming months.