Banks must be more careful about commercial property, Fed says:

07/10/2009 | Reuters

Banks need to review their commercial real estate exposure more carefully to be certain that continued declines in property values don't threaten their own financial strength, a Federal Reserve official responsible for overseeing bank examinations told Congress. "Many institutions would benefit from additional and better stress testing, improved management information systems and stronger appraisal practices," said Jon Greenlee, associate chief of the Fed's banking supervision division.

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