BANKING

HUD to Propose Banking Reforms: The Department of Housing and Urban Development is expected to release a report Monday calling for broad reforms of the $177-billion Federal Home Loan Bank System, officials said. The system provides loans to thrifts and savings banks in much the same way the Federal Reserve System aids commercial banks. The HUD report will mark the Clinton Administration’s first official statement about what role it wants the system’s lenders to play in housing finance. It is expected to call for changes that would increase lending to low-income borrowers and developers of low-cost housing.