Bank lending shrinks further $300 bln in Q2 -BIS (at Reuters)

LONDON, Oct 22 (Reuters) - International bank lending dropped by over $300 billion or 1.1 percent in the second quarter as the financial crisis continued to restrain credit, according to Bank for International Settlements data. Lending to the non-bank sector between April and June did expand for the first time since the third quarter of 2008, however, increasing by $48 billion, or 0.5 percent. That was more than offset by a contraction in interbank lending of $375 billion, or 2 percent, at constant exchange rates. The pace of overall decline slowed from an $800 billion contraction in the first quarter, or 2.6 percent. The statistics -- the only ones to chart... [read full story]                    

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