How Did Banks Fund C&I Drawdowns at the Onset of the COVID-19 Crisis?

Posted: 21 Aug 2020

See all articles by David Glancy

David Glancy

Board of Governors of the Federal Reserve System

Maxwell Gross

Board of Governors of the Federal Reserve System

Anamaria Felicia Ionescu

Board of Governors of the Federal Reserve System

Date Written: July 31, 2020

Abstract

Banks experienced significant balance sheet expansions in March 2020 due to unprecedented increases in commercial and industrial (C&I) loans and deposit funding. According to the Federal Reserve's H.8 data, "Assets and Liabilities of Commercial Banks in the U.S.", C&I loans increased by nearly $480 billion in March—the largest monthly increase in the history of this series, surpassing the nearly $90 billion increase in C&I loans in the six weeks following Lehman Brothers' collapse in 2008.

Suggested Citation

Glancy, David and Gross, Maxwell and Ionescu, Anamaria Felicia, How Did Banks Fund C&I Drawdowns at the Onset of the COVID-19 Crisis? (July 31, 2020). FEDS Notes No. 2020-07-31-1 https://doi.org/10.17016/2380-7172.2601, Available at SSRN: https://ssrn.com/abstract=3675613

David Glancy (Contact Author)

Board of Governors of the Federal Reserve System ( email )

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Maxwell Gross

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

Anamaria Felicia Ionescu

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

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