Updated Wednesday, May 7, 2008 0:00 am TWN, AP Fed reports banks are tightening lendingThe Fed, the country’s central bank, said Monday that the percentage of banks reporting tighter lending standards was near historic highs for nearly all loan categories. The survey, conducted in April, found that nearly two-thirds of banks surveyed had tightenee-backed securities. In reaction to the losses, banks have raised their own standards, especially because of the growing worries thanal mortgages and another 43 percent had tightened standards in this category “somewhat.” The survey found that only nine banks are currently making loans in the subprime category and of that group, 78 percent had tightened lending standards either considerably or somewhat. | Americas Breaking News Most Read |