The Federal Reserve (The US Central Bank) revealed that lending has slowed across several parts of the United States in recent weeks amid turmoil in the financial sector sparked by the collapse of Silicon Valley".
According to the Federal Reserve's periodic report on economic conditions, the volume of lending and demand for loans, in general, declined in all types of consumer and corporate loans. Several provinces have indicated that several banks have tightened lending standards amid growing uncertainty and liquidity concerns.
According to the report, conditions in the financial sector in New York deteriorated sharply in conjunction with the recent pressures on the banking sector.
Source (Al Arabiya.net Website, Edited)
