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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. |
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Наукові видання (ННІ БТ) |
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File | Size | Format | Downloads |
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Pezutto_mortgage_lending.pdf | 202,82 kB | Adobe PDF | 24908239 |
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