Profits and Balance Sheet Developments at U.S. Commercial Banks in 2007
Figure A. Issuance of U.S. leveraged syndicated loans, 2002-08. Data plotted as bars at an annual rate. Issuance of institutional loans begins in 2002 and 2003 with a value of about $100 billion, increases to about $220 billion in 2004 and 2005, and rises again to about $360 billion in 2006. In the first half of 2007, institutional loans rise significantly to about $580 billion but fall to about $260 billion in the third and fourth quarters of 2007, finishing in the first quarter of 2008 at approximately $50 billion. Issuance of bank loans begins in 2002 and 2003 with a value of about $200 billion, fluctuates between $235 billion and $280 billion from 2004 to 2007, and falls to about $166 billion in 2008:Q1.
Note: The data extend through 2008:Q1. Institutional loans are term loans of relatively long maturity and intended for institutional investors, including loan mutual funds, collateralized loan obligations, insurance companies, finance companies, and hedge funds. Bank loans are the remaining portions of syndicated leveraged loans and can include both revolving credits and shorter-maturity term loans.
Source: Reuters LPC/DealScan.