Sunday, May 3, 2009

loans to individuals

bank loans to individuals have jumped importantly, not only absolutely but relatively as well, though there has been only a little relative growth in this type of bank lending since the mid-1950's. such loans rose form $6 billion in 1949 to $118.4 billion in 1976, which also represented an increase in their percentage of total loans from 14 per cent in 1949 to 21.6 percent in 1976. The individual is much more important customer of commercial banks now than he was earlier. the individual borrows from commercial banks for many reasons, but particularly to buy durable goods, especially automobiles.

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