US Bank Lending Slumps by Most on Record in Final Weeks of March

US Bank Lending Slumps by Most on Record in Final Weeks of March(Bloomberg) -- US bank lending contracted by the most on record in the last two weeks of March, indicating a tightening of credit conditions in the wake of several high-profile bank collapses that risks damaging the economy. Most Read from BloombergCommercial bank lending dropped nearly $105 billion in the two weeks ended March 29, the most in Federal Reserve data back to 1973. The slide in lending follows the collapse of several firms including Silicon Valley Bank and Signature Bank. On Thursday, the American Bankers Association index of credit conditions fell to the lowest level since the onset of the pandemic, indicating bank economists see credit conditions weakening over the next six months. For a list of banks commercial banks ranked by assets, click here.