WASHINGTON - The credit crunch shows faint signs of easing after over two years, but the banking system remains mired in rules that are discouraging much-needed lending that would revive the economy, Federal Reserve Board chairman Alan Greenspan was scheduled to say in a speech last night.

"Fortunately, the credit crunch, which has been so debilitating to the economic performance in this country over the past two to three years, has shown no evidence of worsening in recent months and may finally be retreating," Greenspan was expected to say in his speech before the Tax Foundation. An advance text of his remarks was released by Fed officials.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.