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March 12, 2007

Agencies Seek Comment on Subprime Mortgage Lending Statement  
In a joint press release, the federal financial regulatory agencies issued for comment a proposed Statement on Subprime Mortgage Lending to address certain risks and emerging issues relating to subprime mortgage lending practices, specifically, particular adjustable-rate mortgage (ARM) lending products. Comments are due sixty days after publication in the Federal Register, which is expected shortly.

Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

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