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U.S. Commercial Bank Lending through 2008:Q4: New Evidence from Gross Credit Flows

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Author Info
Silvio Contessi (Federal Reserve Bank of St. Louis)
Johanna Francis (Fordham University, Department of Economics)

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Abstract

What was hiding behind the aggregate commercial bank loans through the end of 2008? We use balance sheet data for every insured U.S. commercial bank from 1999:Q1 to 2008:Q4 to construct credit expansion and credit contraction series and provide new evidence on changes in lending. Until 2008:Q3 net credit growth was not dissimilar to the 1980 and 2001 recessions. However, between the third and fourth quarter credit contraction grew larger than credit expansion across all types of loans and for the largest banks. With the inclusion of 2008:Q4 data our series most resemble the intensification of the Savings and Loan crisis.

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Publisher Info
Paper provided by Fordham University, Department of Economics in its series Fordham Economics Discussion Paper Series with number dp2009-04.

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Date of creation: 2009
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Handle: RePEc:frd:wpaper:dp2009-04

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Web page: http://www.fordham.edu/economics/
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Related research
Keywords: Credit Market; Reallocation; Aggregate Restructuring; Business Cycle; Financial crisis;

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Find related papers by JEL classification:
E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Silvio Contessi & Pierangelo DePace & Johanna Francis, 2008. "The cyclical properties of disaggregated capital flows," Working Papers 2008-041, Federal Reserve Bank of St. Louis. [Downloadable!]
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  2. Giovanni Dell'Ariccia & Pietro Garibaldi, 2005. "Gross Credit Flows," Review of Economic Studies, Blackwell Publishing, vol. 72(3), pages 665-685, 07. [Downloadable!] (restricted)
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  3. Richard G. Anderson, 2008. "Paying interest on deposits at Federal Reserve banks," Economic Synopses, Federal Reserve Bank of St. Louis. [Downloadable!]
  4. Tille, Cédric & van Wincoop, Eric, 2008. "International Capital Flows," CEPR Discussion Papers 6705, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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This page was last updated on 2009-11-12.

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