Stock Futures Drop After U.S. Credit Rating Downgrade
Stock futures on the New York Stock Exchange slid lower on Wednesday morning after Fitch downgraded its U.S. Credit Rating from AAA to AA+. Fitch is the second of the three major ratings firms to downgrade the U.S. following the debt ceiling battle earlier...
U.S. Bank Credit Expands Despite Drop in Lending
Bank credit for U.S. commercial banks edged higher over the past week despite a recent downturn in the volume of commercial and industrial lending, data from the Federal Reserve revealed.
Nationwide bank credit rose to $17.31 trillion in the week ending June 28 on a...
U.S. Bank Lending Experiences Record Drop in Late March
The U.S. banks saw a historic drop in lending in the final weeks of March, one not seen in the last 50 years. The slump was likely influenced by the recent banking crisis and fears over the troubling economy.
According to Federal Reserve data, lending...