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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&#39;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 &quot;Great Depression&quot; 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 funding 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&#39;s license number decreased to 35,417 pieces 43,147 pieces, a record low. UK housing market outlook is not optimistic Germany by the German Bank Association Duesseldorfer bank takeover U.S. House of Representatives Financial Services Committee approved the acquisition of the country&#39;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 brokerage 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 &quot;economic growth is still at risk,&quot; 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 situation 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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