May 10, 2012

Federal Reserve Chairman Ben Bernanke said on Thursday the U.S. banking system has made substantial progress toward becoming healthier since the financial crisis but noted there still were problem lending areas.

"Conditions in the banking system -- and the financial sector more broadly -- have improved significantly in the past few years," he told a banking conference in Chicago.

Speaking by teleconference from Washington, he noted that the capital and liquidity position of banks have been strengthened but said home mortgage lending continues to be very tight. (Reporting By Glenn Somerville; Editing by Chizu Nomiyama)

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