Data from the latest Greenwich commercial lending market insight report for North America shows that competition for deposits is influencing pricing decisions. Secured overnight financing rate (Sofr) spreads on floating rate commercial loans in the second quarter of 2023 were shown to be at their lowest level since the start of last year.
US bank deposits have declined in each of the last five quarters since the Federal Reserve began increasing interest rates, with losses spiking during the regional banking crisis earlier this year.
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