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Title Miraculous financial engineering or toxic finance? The genesis of the U.S. subprime mortgage loans crisis and its consequences on the global financial markets and real economy
Authors Pezzuto, I.
ORCID
Keywords іпотечне кредитування
ипотечное кредитование
mortgage lending
корпоративні кредити
корпоративные кредиты
corporate loans
Type Conference Papers
Date of Issue 2012
URI http://essuir.sumdu.edu.ua/handle/123456789/63525
Publisher Ukrainian Academy of Banking of the National Bank of Ukraine
License
Citation Pezzuto, I. Miraculous financial engineering or toxic finance? The genesis of the U.S. subprime mortgage loans crisis and its consequences on the global financial markets and real economy [Text] / I. Pezzutto // Міжнародна банківська конкуренція: теорія і практика : збірник тез доповідей VІІ Міжнародної науково-практичної конференції (24–25 травня 2012 р.). Т.1 / Ред. А.О. Єпіфанов . – Суми : УАБС НБУ, 2012. – С. 19-20.
Abstract In the fall of 2008, the U.S. subprime mortgage loans defaults have turned into Wall Street’s biggest crisis since the Great Depression. As hundreds of billions in mortgage-related investments went bad, banks became suspicious of one another’s potential undisclosed credit losses and preferred to reduce their exposure in the interbank markets, thus causing interbank interest rates and credit default swaps increases, a liquidity shortage problem and a worsened credit crunch condition to consumers and businesses. Massive cash injections into money markets and interest rates reductions have been assured by central banks in an attempt to shore up banks and to restore confidence within the financial system. Even Governments have promoted bail-out deal agreements, protections from bankruptcies, recapitalizations and bank nationalizations in order to rescue banks from disastrous bankruptcies.
Appears in Collections: Наукові видання (ННІ БТ)

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