WASHINGTON — The overall outstanding average loan balance at the top 22 companies that received money from the U.S. government's bailout fund remained flat from October to November 2009, the U.S. Treasury said in a monthly survey released Friday.
For the month of November, average loan balances stood at $4.116 trillion--a decrease of $7.1 billion from October when the loan balance stood at $4.123 trillion.
The firms in the monthly survey all received cash infusions from the Treasury's capital purchase program, which was meant to help bolster consumer and business lending. Among the 22 largest recipients of cash infusions are firms like American Express, Bank of America and Goldman Sachs.
But despite those cash infusions, total average loan balances have still been declining for the past few months by 1% each month.
The Treasury did say, however, that between November 2008 through November 2009, the average outstanding loan balance at 21 of those institutions rose by 6% and the outstanding mortgage balance rose by 22% in the same time period.
Loan originations between October and November 2009 for the top 22 recipients of the bailout fund, meanwhile, rose by 2%.