Federal financial regulatory agencies and the Conference of State Bank Supervisors have issued a statement aimed at encouraging more banks to lend to small businesses.
The agencies, including the Board of Governors of the Federal Reserve and the Federal Deposit Insurance Corp., said they recognize that small businesses play an important role in the economy and know that some are experiencing difficulty in obtaining or renewing credit.
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The regulators said they are working with the industry and supervisory staff to ensure that supervisory policies and actions do not inadvertently curtail the availability of credit to sound small business borrowers.