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Discount EU banking credit standards for small businesses

Us banks list / Friday, August 20, 2010

For the first time since 2006 the U.S. banks have relaxed credit standards for small businesses, according to officials conducted quarterly survey of 57 U.S. banks and 23 foreigners, reported the Federal Reserve in this country.

The actions by the banks are very significant because small businesses provide the largest number of jobs in the country during the recession and the credit crunch led to substantially reduce its activity.

The decrease was caused by restrictions on competitive pressures in the financial sector. A survey by the majority of institutions reported that they maintained strict conditions on most loans.

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