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.
Reports indicate that the demand for loans is plummeting
While bank lending standards are approaching their tightest levels ever.