For example, over the 1980s and first half of the 1990s, the share of total U.S. nonfarm, nonfinancial corporate debt held by U.S. banks fell by about one-quarter from 19.6 percent to 14.5 percent. Banks compensated somewhat for these on-balance sheet reductions in a variety of ways.
Many banks expanded their participation in off-balance sheet back-up lines of credit, standby letters of credit, and the securitization and sale of some large loans. Other adaptations included a shift in focus toward fee-based services and derivatives activities.