Reuters reported, citing Thomson Reuters LPC data, that market volatility drove U.S. syndicated lending down 29% in the third quarter from the prior quarter, and year-to-date funding down 12% to a three-year low.

Reuters said, citing bankers and investors, concerns about China’s economy and uncertainty about Federal Reserve policy, the main sources of volatility in the quarter, are expected to persist and restrain syndicated lending at least through year end.

Reuters noted, according to LPC, U.S. syndicated loan issuance fell to $1.35 trillion for the first nine months of the year from $1.53 trillion in the same period last year.