(Bloomberg) -- US bank lending increased last week, suggesting some stabilization in credit conditions despite tighter loan standards and high borrowing costs.
Commercial bank lending rose $10.4 billion in the week ended May 17 to a three-week high, according to seasonally adjusted data from the Federal Reserve out Friday. On an unadjusted basis, loans and leases increased $2.3 billion.
Bank deposits rose by $30 billion during the same period. The advance was broad across institutions of varying size. On an unadjusted basis, deposits increased $32.9 billion.
To gauge credit conditions, economists are closely monitoring the Fed’s so-called H.8 report, released weekly, which provides an estimated aggregate balance sheet for all commercial banks in the US.
The biggest 25 domestic banks account for almost three-fifths of lending, although in some key areas — including commercial real estate — smaller banks are the most important providers of credit.
The report is primarily based on data reported weekly by a sample of about 875 domestically chartered banks and foreign-related institutions.
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