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

Silvio Contessi and Johanna Francis

Fordham Economics Discussion Paper Series from Fordham University, Department of Economics

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.

Keywords: Credit Market; Reallocation; Aggregate Restructuring; Business Cycle; Financial crisis (search for similar items in EconPapers)
JEL-codes: E44 E51 G21 (search for similar items in EconPapers)
Date: 2009
New Economics Papers: this item is included in nep-ban and nep-mac
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Citations: View citations in EconPapers (5)

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Related works:
Journal Article: U.S. COMMERCIAL BANK LENDING THROUGH 2008:Q4: NEW EVIDENCE FROM GROSS CREDIT FLOWS (2013)
Working Paper: U.S. commercial bank lending through 2008:Q4: new evidence from gross credit flows (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:frd:wpaper:dp2009-04

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