WASHINGTON — Reacting to deterioration in leveraged loan portfolios, federal bank and thrift regulators issued joint guidelines Monday outlining proper risk management practices for institutions making such loans.

Regulators have seen banks’ leveraged finance portfolios weaken recently, and they blame, at least in part, bankers for relaxing their standards during good economic times. Now that the economy has slowed, many leveraged borrowers are in shakier positions — and that has increased banks’ overall credit risk exposure.

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