US Economy Grinds To A Halt As Loan Demand, Sales Crater In Aftermath Of Bank Crisis
quarter." Loan volumes decreased, especially for consumer loans, due to stricter credit standards and terms.
More than a month had passed before the Silicon Valley Bank collapsed, triggering the worst US banking crisis since Lehman's bankruptcy on March 9.
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Reports indicate that the demand for loans is plummeting
While bank lending standards are approaching their tightest levels ever.