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by TradingPlaces 1164 days ago
This wildly overstates the situation.

1. These are seasonally adjusted numbers. The unadjusted numbers are smaller.

2. The article does not account for the $60b in loan sales (unadjusted) to nonbanks the week of 3/22.

Lending definitely tightened up the week ending 3/22, but not to the extent the article suggests