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Is this the ultimate sign that QE has worked?

It hasn't received much fanfare, but the cease-less collapse of commercial and industrial lending inside American financial institutions has stopped (for the moment). For those of you not paying attention, this is what the sharp falloff has looked like over a long-term time frame.

chart

(Click to enlarge)

A pretty steep fall from the 2008 peak, no doubt.

Now, let's zoom in closer to a 5-year view:

chart

(Click to enlarge)

Could it be? A slight uptick at the end of the line?

Let's zoom into a 1-year view:

chart

(Click to enlarge)

Indeed. That is an uptick.

In fact, as stated here at the St. Louis Fed, the total amount of commercial and industrial loans at all commercial banks went from $1.219 trillion in October to $1.221 trillion in November. It's just one month, and it'd be great to see a trend. But a trend has to start somewhere.

(Big thanks to @mbusigin for spotting this.)

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Source: The Great Private Credit Collapse Is Finally Over