Capital markets issuance by U.S. banks fell to $4.65 billion in August, down nearly 28% from year-ago levels and a drop of 64% from July, S&P Global Market Intelligence said Tuesday. Senior debt remained the largest deal type in August with $3.2 billion, down 72% from July’s total of about $12 billion. Issuance of subordinated debt, preferred equity and common equity by banks were all well under $1 billion each. State Street Corp. STT, -1.59% and Huntington Bancshares Inc. HBAN, -0.64% ranked as the largest U.S. public bank issuers in August with $750 million in senior debt offerings each, S&P said. In another sizeable deal, KeyCorp KEY, -1.18% raised $600 million in preferred equity during the months. Shares of State Street Corp. are down 25.3% in 2022, while Huntington Bancshares Inc. HBAN, -0.64% is off by 9.8% this year, while the KBW Nasdaq Bank Index BKX, -1.14% is down 19.8% and the Financial Select SPDR ETF XLF, -1.29% is down by 15.9%.