Briefing
Bank Lending in the Time of COVID
Abstract: We discuss the evolution of bank lending during the first several months of the COVID-19 pandemic. Large domestic banks and foreign-related banks increased significantly their lending to businesses during these months, much of it through existing lines of credit. Small domestic banks played an active role in providing paycheck protection loans. In terms of consumer credit, the stock of banks' residential mortgage loans did not change substantially, and the amount of bank credit flowing directly to consumers decreased.
Keywords: COVID-19; Pandemic; Banking and Finance;
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https://www.richmondfed.org/publications/research/economic_brief/2021/eb_21-05
Description: Article
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Bibliographic Information
Provider: Federal Reserve Bank of Richmond
Part of Series: Richmond Fed Economic Brief
Publication Date: 2021-02
Volume: 21
Issue: 05