Commercial real-estate levelling off: Fed director

Capitol Hill in Washington DC

The commercial real estate (CRE) market has improved and the worst-case scenarios are becoming "increasingly unlikely", Patrick Parkinson, the director of the Federal Reserve Board's division of banking supervision and regulation, said on Friday.

In testimony to the Congressional Oversight Panel, a body established at the height of the crisis to keep an eye on financial markets and the regulatory system, Parkinson said the rate of deterioration in the CRE market and credit conditions had "levell

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