Thursday, July 28, 2005

Bank Regulators Issue Warnings

“WASHINGTON, July 28 (Reuters) - U.S. bank regulators warned on Thursday that banks have eased both commercial and retail credit underwriting standards and should be careful to anticipate and manage risks properly.

"Ambitious growth goals in a highly competitive market can create an environment that fosters imprudent credit decisions," Barbara Grunkemeyer, deputy Comptroller of the Currency for credit risk, said in a statement.

Banks, faced with stiff competition to attract borrowers, eased requirements such as collateral and pricing when making loans in the 12 months ending March 31, the Office of the Comptroller of the Currency, which regulates national banks, said in an annual survey.”

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