More Videos
- Maine Caucuses a Chance to Right the Romney Ship
- Greek Debt Saga Back on Center Stage for Markets
- Greece Now Struggles to Overcome Mistrust
- Obama Budget Bets Other Concerns Will Trump the Deficit
- China President-in-Waiting to Sample Slices of America
- MF Global Trustee Sees Shortfall of $1.6 Billion
- Iran to Announce 'Very Important' Nuclear Progress
- Traveling Light in a Time of Digital Thievery
- UK Police Arrest Five at Murdoch's Sun Newspaper
- In Search of America's ‘Hottest Forecasters’
- Dow vs. S&P 500: Which is a Better Investment?
- Mick Fleetwood on the MP3 ‘Dumbing Down’ of Music
- Avis on the Road to Strong Growth: Analyst
- Private Homebuilders: Dead Men Walking
- LinkedIn’s Growth Is Already Priced In: Analyst
- The Real Reason Behind Bank of America’s Rally
- 5 Hedge Funds’ Top Stocks Soar After 2011 Rout
- This Valentine’s Day Love Is Served on a Silver Platter
MOST POPULAR
HOT ON FACEBOOK
Treasury Says Bank Lending Declined in February
Text Size 
Bank lending to consumers and businesses for many types of loans fell in February despite the billions of dollars in government support the banks received.
 |
The Treasury Department said Wednesday its latest monthly survey of lending activities at the nation's biggest banks showed nine reported increases and 12 posted declines. The median, or midpoint, for lending activity dipped 2.2 percent in February.
While the median level of activity in mortgage lending rose 35.4 percent and home equity lines of credit grew 17.7 percent, lending to businesses for commercial and industrial loans plunged 47 percent.
"Against a difficult economic backdrop, banks extended approximately the same level of loan originations in February as January," the Treasury report said. "The relatively steady overall lending levels observed in February likely would have been lower absent the capital provided by Treasury."
The findings on loan levels were based on reports filed by the top 21 recipients of rescue money from the government's $700 billion bailout fund.
Critics of the rescue effort have complained the government has not done enough to ensure that the money banks receive is being used for its intended purposes—to resume more normal lending to businesses and consumers.
- Marketing clichés aside, sometimes diamonds are for investing.
- The ‘Fast Money’ traders weigh in on fashion related stocks from apparel to footwear.
- This list of the 10 most active cities for speed traps was compiled by Trapster.com. See if your town is there.
- This Valentine’s Day should prove a love fest for restaurants, as many couples will be dining out.
- Here’s a look at Westminster Kennel Club’s most successful breeds—and how much they cost.
- What kind of homes do celebrity couples share? Here’s our updated list. Take a look.
Data is a real-time snapshot *Data is delayed at least 15 minutes
