Creating jobs is to the Clinton administration what booking loans is to the nation's commercial banks: the path to prosperity. Demonstrating its understanding of banks' central role in our market economy, the administration asked bank and thrift regulators to take steps to increase credit availability and reduce regulation.

On March 10 the four agencies released their "Interagency Policy Statement on Credit Availability," with special attention to the credit availability problems of small and medium-size businesses.

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