President Donald Trump's pledges to overhaul taxes, trade,infrastructure and health care may thrill some corporate leaders,but it's causing many to delay expansions. That's bad forbanks.

Lending growth probably decelerated for a fourth straightquarter in the three months ended Sept. 30 across more than a dozenof the biggest U.S. banks, according to Royal Bank of Canadaanalysts and Bloomberg calculations. Their total loans may haveticked up just 1.8%, the smallest increase in more than two years,as commercial and industrial customers held off on buying equipmentand building plants.

Executives are “hesitant to borrow in the face of uncertainty,”said Jason Goldberg, an analyst at Barclays. “Whether it'spotential tax reform, health-care uncertainties, or they're unclearwhat infrastructure spending is going to look like, you'vedefinitely seen corporates take a pause.”