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“Worst is yet to come for credit availability” is the heading of this article published today by the Times Colonist. “Measures of bank stress may be at very concerning levels and in some cases on their way to crisis peak levels, but the effect on credit availability has yet to be felt to its full extent. Andrew Tilton, with Goldman Sachs Global Economics, said that until now, measures of broad U.S. financial conditions and credit availability to the non-financial sector have taken much less of a hit than those for the banking sector specifically.”
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