Large Cap Banks: Fed Weekly: Second Consecutive Week Of Strong Growth In C&I Plus NBFI Loans, And Also In Deposits

Research evidence excerpt

J P M O R G A N

North America Equity Research

14 August 2026

Large Cap Banks: Fed Weekly

Second Consecutive Week Of Strong Growth In C&I

Plus NBFI Loans, And Also In Deposits

Last week, deposits rose sharply by 1.0% at large banks and were up by 0.3% at

small banks; deposits rose 0.7% at all banks. Borrowings rose modestly by 0.2%

at large banks but were down 2.3% at small banks, with borrowings at all banks

rising 0.5% due to a 1.9% increase at foreign banks.

Banks — Large-Cap

Vivek Juneja AC

(1-212) 622-6465

Andrew J Dietrich

Large bank C&I plus NBFI loans rose sharply again last week: C&I loans were up

0.7% and loans to non-bank financials rose 0.8%. C&I-related loans, which also

includes All Other Loans, also rose 0.6% last week with All Other loans up

modestly by 0.2%. Small bank C&I plus NBFI loans rose modestly by 0.3% last

week. C&I-related loans are overstated due to the inclusion of securities-based

margin loans.

Large bank credit card loans fell 0.7% last week, and yoy growth was at +4.8%

(+4.7% in prior week). CRE and residential mortgages each fell modestly by 0.2%,

while home equity, auto, and other consumer loans each fell a tad. Hence, total

loans were flattish (+7.2% yoy) last week at large banks and also flattish at small

banks. Large banks’ securities portfolios were flattish last week. Loan loss reserves

rose sizably by 0.7% in amount and up 1bp as a ratio of loans to 1.77%.

Large bank C&I loans +0.7% last week (+0.2% at small banks). Other loans

and leases +0.6% (+0.5% small banks), with loans to non-depository financials

+0.8% and all other loans +0.2%. CRE loans -0.2% (flattish small banks), with

construction -1.4%, multifamily -0.2%, and other CRE flattish.

Large bank credit card loans -0.7% last week (-0.4% at small banks). Auto

loans were flattish (+0.2% small banks), and other consumer loans were flattish

(+0.3% small banks).

Large bank residential mortgages -0.2% last week (flattish at small banks), and

home equity loans were flattish (+0.2% small banks).

Large bank total loans were flattish last week (same at small banks) and +0.2%

ex resi mortgages (flattish small banks). Total loans +7.2% yoy on reported

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