Large Cap Banks: Fed Weekly: C&I Loans and NBFI Loans Each Flatish Last Week, Deposits Up Very Sharply

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Large Cap Banks: Fed Weekly: C&I Loans and NBFI Loans Each Flatish Last Week, Deposits Up Very Sharply

J P M O R G A N North America Equity Research

24 July 2026

Large Cap Banks: Fed Weekly

C&I Loans and NBFI Loans Each Flattish Last Week,

Deposits Up Very Sharply

Last week, deposits rose very sharply by 0.9% at large banks but were flattish at Banks — Large-Cap

ACsmall banks and rose 0.5% at all banks. Borrowings fell modestly by 0.3% at large Vivek Juneja

banks and fell very sharply by 2.6% at small banks, with borrowings at all banks (1-212) 622-6465

down 1.6%. vivek.juneja@jpmorgan.com

Andrew J Dietrich

Large bank C&I plus NBFI loans flattish last week: C&I loans were flattish while (1-212) 622-4244

loans to non-bank financials declined modestly by 0.2%. C&I-related loans, which aj.dietrich@jpmorgan.com

also includes All Other Loans, were flattish last week with All Other loans up Sai M Nettem

sharply by 1.1%. Small bank C&I plus NBFI loans were each flattish last week. (1-212) 622-2666

sai.nettem@jpmorgan.com

C&I-related loans are overstated due to inclusion of securities-based margin loans. J.P. Morgan Securities LLC

Large bank credit card loans fell modestly by 0.2% last week with yoy growth at

+4.9% (+5.1% in prior week). CRE, residential mortgages, auto, and other

consumer loans were each flattish last week while home equity loans rose modestly

by 0.2%. Hence, total loans were flattish (+7.2% yoy) last week at large banks but

were up modestly by 0.2% at small banks. Large banks’ securities portfolios rose

sharply last week. Loan loss reserves were flattish in amount and flat as a ratio of

loans at 1.77%.

• Large bank C&I loans flattish last week (same at small banks). Other loans and

leases +0.3% (flattish small banks), with loans to non-depository financials