The Federal Reserve Board and the Securities and Exchange Commission have issued a joint study on loan securitization and credit availability.

In a report to Congress last week, the agencies concluded that while the number of commercial real estate and small-business loans grew sharply over the past two years, the market for securitized small-business loans remains relatively slim. One reason, the study said, is that lenders do not have enough historical data on such loan portfolios to make accurate risk assessments.

The study, "Report to the Congress on Markets for Small-Business- and Commercial-Mortgage-Related Securities," is available from the Fed at 202- 452-3245. It will also be available via the Web next week at

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