CDN bank business loans drop $5.9B in January

For those who might have missed the release from the Bank of Canada, aggregate Canadian bank loans to businesses dropped $5.9 billion between December 2008 and January 2009.

Business loans are now back to about the September 2008 level, which is nothing for the bank CEOs to be embarrased about (see prior post “Could it be that the Banks and Flaherty are both right? part 3” January 23-09).

MRM