US banks tightened lending standards in the early months of this year in near-record numbers, a Federal Reserve report indicated on Monday, suggesting that the credit squeeze in the economy ­continued to intensify.

The senior loan officers’ survey reported that the fraction of banks tightening lending standards was “close to or above historical highs for nearly all loan categories” – including corporate loans, commercial real estate, mortgages, credit cards and other consumer loans.

Meanwhile, Ben Bernanke, Fed chairman, called on lenders and policymakers to help homeowners with negative equity to restructure their debts and avoid foreclosure. ... Read full article