Subprime mortgage crisis Subprime by fdjerue7eeu


									Subprime mortgage crisis
Last week, LIBOR jumped 20 basis points, except that the Federal Reserve cut
interest rates this month will launch more than 25 basis points move

April 20, 2008

Merrill Lynch CEO Thain claims do not support the most difficult period of the credit
crisis is over the views of

April 21, 2008

A large bank balance sheet lenders are severely affected by the credit crunch, in
response to this growing pressure, the Royal Bank of Scotland plans to raise 12 billion
pounds (about 24 billion U.S. dollars)

Bank of England announced it would spend 50 billion pounds of government bonds,
swap mortgage assets held by commercial banks to help revive the banking sector

Britain's Financial Times reported that, faced with the difficulties brought
about the credit crunch, Bank of America is planning to sell the shares held by China
Construction Bank to raise funds to strengthen its balance sheet

European Central Bank President Jean-Claude Trichet said the bank is still reluctant to
lend, so the market before the end of adjustment

April 22, 2008

Federal Reserve Board Governor Randall Kroszner said the case could modify loans
to solve some of the problems the mortgage market

Senior officials of the former Cabinet Office of Japan Hiroshi Watanabe pointed out
that Asian governments should set up in 2010, one hundred billion U.S. dollars of
foreign exchange reserves to prevent the repeat of a similar area 10 years ago, the
disastrous financial crisis

Yale University economist Robert Shiller warned that well-known, U.S. home prices
likely than the "Great Depression" period of decline, for a more
serious, the Government should take rescue action to prevent millions of people
losing their homes

U.S. home sales in March fell 2.0% monthly rate for the 4.93 million

Swiss central bank injected six billion U.S. dollars to the market
European Central Bank lent 15 billion U.S. dollars to the bank a 28-day U.S. dollar

April 23, 2008

Economic Outlook Group General Manager 伯纳德鲍默 serious economic problems
that the United States, is unlikely to be V shaped recovery

UK housing loans in March from February's license number decreased to
35,417 pieces 43,147 pieces, a record low. UK housing market outlook is not

Germany by the German Bank Association Duesseldorfer bank takeover

U.S. House of Representatives Financial Services Committee approved the
acquisition of the country's local government has exercised the right to
housing foreclosures

April 24, 2008

3 months the euro Libor rose again Thursday, hitting a 4-month high, indicating
continued tight money market

Credit Suisse first quarter of 5.3 billion Swiss francs impairment of assets, financial
condition thus incur losses, the net loss to 2.15 billion Swiss francs

Bank of Canada through special purchase and resale agreement to market 495 million
Canadian dollars capital injection

New York Fed announced that, after expanding the scope of the regular tools of the
debt securities lending auction of weak demand, a total of 59.46 billion U.S. dollars of
the purchase receipt, the amount of 75 billion U.S. dollars less than the tender

The U.S. Treasury said it would begin next Monday a special tax rebate policy, the
Ministry of Finance earlier than expected ahead of time for 5 days

This week U.S. commercial banks increased borrowing at the Fed discount window
size, and investment banks to reduce the use of the financing instruments, the focus of
the credit crunch has been transferred to the deposit-taking institutions from

Following the nationalization of Northern Rock after Britain announced 2,000 job
cuts may decide
April 25, 2008

Fed rate cut cycle, the market will end on the expected increase in the dollar index
rallied to a month high

U.S. March new home sales fall further, creating the lowest level since 1991

U.S. April consumer confidence in March 1982 record the lowest level since

April 28, 2008

Well-known investor Warren Buffett that the U.S. economy is in recession, and the
extent than most people expected more serious.

U.S. Census Bureau report showed the first quarter of 2008, the U.S. housing vacancy
record high 2.9% annual rate of refresh.

April 29, 2008

UK March house purchase mortgages fell to the data volume permits the lowest since
statistics began.

Deutsche Bank announced a net loss for the first time in five years

April 30, 2008

U.S. Federal Reserve cut interest rates by 25 basis points, and after that statement,
dropping the "economic growth is still at risk," the wording

U.S. first quarter GDP growth of 0.6%, but Credit Suisse inventories that rely mainly
on the acquisition, development detrimental to the future

Additional 4 billion pounds UK HBOS shares to raise capital scale, against
deteriorating market conditions

May 1, 2008

Bank of England in the financial stability report, the sub-prime losses may be only
170 billion U.S. dollars; major banks agreed to retain the special liquidity scheme the
minimum amount of assets

Federal Deposit Insurance Corporation that the market will survive the credit crunch
Federal Reserve Chairman Ben Bernanke that the U.S. student loan market problem is
not limited to liquidity problems

U.S. House of Representatives approved 300 billion U.S. dollars worth of housing
assistance programs

U.S. Treasury Secretary Henry Paulson that the credit crisis has been more than half

May 2, 2008

U.S. April non-farm employment is only down 2 million, the unemployment rate fell
to 5.0%, better than expected

IMF Kahn worries that the U.S. President in April employment situation report good
short-lived, that the economy will not recover this year

TAF the Fed will expand in size from 50 billion U.S. dollars to 75 billion U.S. dollars,
while expanding and the European Central Bank and the Swiss central bank currency
swap lines

The White House said the U.S. economy so far has not signal a recession

UK Halifax 4 house prices fell for three consecutive months, month rate fell 1.3%,
down 3.7% annual rate

May 4, 2008

U.S. FHFB noted that interest rates and tax cuts alone can not solve the subpr

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