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U.S.: first easing of credit conditions since 2006

Us banks list / Thursday, August 19, 2010

U.S. banks decided to relax the conditions for its loans to small and medium enterprises for the first time since 2006, announced Monday the Federal Reserve (Fed), referring to one of their priorities.

"This is the first study that shows a relaxation of conditions of industrial and commercial loans to small businesses since late 2006," the Fed said in the July issue of its quarterly survey between lenders in the country.

Small and medium enterprises are those with an annual turnover below 50 million.

The Fed had long expected this decision because SMEs (less than 500 employees) created 60% of jobs in the U.S. and is closely related growth of bank credit.

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