WASHINGTON - Banks borrowed less from the Federal Reserve’s emergency lending facility over the past week and cut back on other programs designed to ease the financial crisis, encouraging signs that some credit stresses are easing. (Boston Globe, 12 a.m.)
CHICAGO - Mortgage rates in the United States fell this week, easing concern that a Federal Reserve plan to lower the cost of home loans had lost momentum. (Boston Globe, 12 a.m.)
WASHINGTON - Six Illinois banks and one bank in Texas were closed yesterday as government regulators proposed new rules for private equity firms seeking to take over failed banks. (Boston Globe, 12 a.m.)
Mortgage applications fell last week by the most since February, defying efforts by President Obama’s administration to revive the housing market. (Boston Globe, 7/2/09)
NEW YORK - The Securities Investor Protection Corp., the government-chartered agency liquidating Bernard Madoff’s defunct business, said it committed $231 million from its reserves to pay 543 claims by the con man’s victims. (Boston Globe, 7/2/09)