Construction and Development Loans rose by $3.6 billion in the third quarter to $206.1 billion. This is a sign that community banks are beginning to be less stingy to homebuilders and developers. This portion of CRE lending is up 1.8% sequentially, but is still down 2.0% year over year.
Home Equity Loans declined by $10.9 billion in the third quarter despite the continued rise in home values. In my judgment this asset category continues to contain noncurrent loans. Home equity loans are down 2.1% sequentially and 8.9% year over year.
Total Real Estate Loans declined by $11.8 billion in the third quarter to $3.66 trillion as write-offs exceed new lending.
Insured Deposits increased by $3 billion to $5.97 trillion in the third quarter despite extremely low CD rates.Notional Amount of Derivatives rose by $6.39 trillion in the third quarter up 2.7% sequentially and 5.9% year over year. This continues to be a concern as the larger banks continue to increase leverage when they should be decreasing these exposures.
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