US banks 'quite healthy' - Fed's Greenspan

US - Consumers and home owners helped the US banking system absorb bad business loans and remain 'quite healthy,' Federal Reserve chairman Alan Greenspan said.

The US financial system had suffered a surge in corporate bond defaults, business failures and investor losses, he told an American Bankers Association convention.

'At commercial banks, troubled loans - including charge-offs, classified loans and delinquent credits - have also climbed to quite high levels,' Greenspan said. 'At the same

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