1- panel member at the beginning and end of the subprime crisis in 08: sun hong-hong group: sun hong-hyo choi wen-ki twee-ki dong-ho winter spring: overview of the subprime crisis i: overview of the subprime crisis ii: impact of the subprime crisis on the united states and the world economy iv: impact of the subprime crisis on the united states and the world economy iv: revelation of the financial crisis on china iii: performance of the united states economic recovery following the financial crisis i: overview of the subprime crisis i: overview of the subprime crisis in the second half of 2006, the united states sub-mortgage mortgage market began to emerge with a rising default rate of loans, which erupted in the summer of 2007. Seriously, the sub-prime crisis has led to a contraction in market liquidity and financial institutions are in a difficult position. The financial tsunami swept the world from the united states to the real economy, resulting in a global disaster. Yes
2. Gravity. What is a sub-prime crisis and what is a sub-prime crisis sub-prime mortgage are mortgages for individuals who are in a poor credit position and who do not have proof of income or ability to repay, and who are more heavily indebted. The “subprime” and “prime” levels of the united states mortgage market are defined by the borrower's credit terms. Depending on the level of credit, lending institutions treat borrowers differently, thus creating two-tiered markets. People with low creditworthiness cannot apply for concessional loans and can only seek loans in secondary markets. The interest rate on sub-prime mortgages is higher than that on mortgages at the best interest rate available to creditworthy persons. The risks and benefits are high. The lending institutions, for the early return of the funds, then packaged the loans, issued bonds, and similarly, the interest rate on sub-prime bonds is certainly higher than the rate on eugenic bonds. Because of the high returns, these bonds..
3. Many investment institutions, including investment banks, hedge funds and other funds are favoured. How the sub-prime crisis evolves and how the sub-prime crisis evolves: rising interest on real estate leads to increased pressure on lenders to repay, a high level of pressure on many otherwise creditworthy users to repay, a risk of default and a crisis affecting the recovery of bank loans. Falling interest rates, declining interest rates for housing and housing, declining interest rates for housing and housing, and the balance of housing and housing sub-prime loans in the united states the share of us sub-prime loan balances and their share of housing loans is illustrated in the cdo figure for example by spv: special purpose vehicle (spo) cdo: collarated debt mortgage
Four, wap (credit default swaps) cds operating principles under which 50 million million worth of premium premiums on the contract for the signing of the cds contract were secured over a 10-year period totalling 500 billion insurance companies or bank insurance companies or b (one hundred businesses (one hundred businesses = 50 billion people) resold and resold 20 billion institution c (with 200 billion acquisitions, one acquisition, one 100 cds) and sold at a nominal price of 22 billion. Investment bank a (its own assets (3 billion assets, three billion leverage, two billion leverages, two to 30 times)
5. The high rate of real estate mortgage lending by the bank has resulted in an imbalance in the asset-liability structure, resulting in a crisis of under-liquidation and crowding out of sub-debts. On 15 september 2008, the lehman brothers collapsed, and as a result of the subprime crisis, the company suffered huge losses and the bankruptcy protection crisis broke out. The impact of sun's subprime mortgage crisis on the united states economy and the impact of the subprime mortgage crisis on the united states economy were the first to affect its development. The hardest hit was the banking sector in the united states. Losses from mortgages to asset securitization caused a collapse of inter-bank liquidity. The united states economy faced a range of problems, including inflation, shrinking real estate markets and credit crunch. The crisis did not stop at financial markets, but affected the real economy through multiple channels。
6. Reduced consumer demand in the united states of america. Wealth effects have stimulated borrowing consumption, resulting in growth in borrowing consumption of 65 per cent of consumption growth, with households reaching 133 per cent of disposable income in 2007. The decline in household wealth in the united states inevitably affected consumption and led to a slowdown in economic growth. The unemployment rate in the united states in the context of the subprime crisis has also risen sharply, becoming the most direct sign of the us economy’s lack of optimism. The unemployment rate in the united states rose to 5 per cent in december 2007, a high of two years; the number of new jobs was only 18,000, the lowest since august 2003. The united states department of labor announced a 4. 8 per cent unemployment rate in february 2008, which remains high. United states unemployment statistics chart (monthly) for calendar years (monthly) how is the crisis coming from america
7. How the crisis spread worldwide from the united states to the international stock market, capital “disruption” and global liquidity tightening, with central banks investing in global inflation, increased trade protection of international stock markets, and the collapse of international stock markets in paris, france, in the three weeks between late july and mid-august 2007, the cac40 index fell by 13 per cent in frankfurt, germany. As of march 22, 2009, the seoul stock market composite index fell by 60,03 points that day, to 17,766. 93 points, or 3. 43 per cent, the largest daily decline in more than three years. In hong kong, china, the stock market index fell by 646. 65 points that day, to 21792. 71 points, or 2. 88 per cent. The singapore stock market channel times index fell by 3. 31 per cent. In the short term, u. S. Financial institutions are taking back investments from the global market; from development
China's sovereign wealth funds have also increased investment in united states financial institutions. In the medium term, the continued decline in interest rates by the fed and the continued weakness of the united states economy will lead to arbitrage of international short-term capital from the united states to emerging market countries. In the long run, the fed has re-entered the interest-rate cycle, the dollar has fallen to a higher value, and international short-term capital flows back to the united states from emerging market countries. In the face of the global liquidity crunch, central banks are investing in liquidity, central banks are investing in global liquidity, the fed is investing $38. 9 billion, the european central bank is investing $66. 415 billion, japan is investing $46. 77 billion, australia is investing $15. 14 billion, and canada is investing $4. 37 billion. In the united states, japan, europe and other countries, the financing of banks has increased liquidity and stabilized market confidence. Global inflation
The european central bank took the strongest action on december 20th of july, when it reached the highest record of a single “blood transfusion” with a double-cycle loan of €34. 86 billion to the market. The fed, for its part, has consistently reduced interest rates after the sub-credit crisis, down 200 basis points in the first two months of the year alone. On 11 march 2008, five central banks of major western economies, such as the federal reserve, announced their decision to take joint measures to inject funds into the financial system. This is the second time that western central banks have joined forces to address the credit crunch in the three months that began in 2008. Such a response, while easing the sharp liquidity contraction caused by the subprime crisis in a short period of time, has contributed to the momentum of global inflation. Strengthening trade protection by countries and enhancing trade protectionNism) import restrictions in foreign trade to protect domestic goods from foreign commodity competition in the domestic market
10. The idea and policy of granting preferences to domestic commodities to enhance their international competitiveness. Trade protectionism in the context of the financial crisis has continued to expand and deepen the negative impact of the united states subprime mortgage problem in 2007, with a marked decline in investment and trade globally. A number of countries and regions have adopted various trade protection measures to improve the protection of their industries and markets, such as the “purchase of american goods” clause in the obama stimulus programme; british prime minister brown, “leave british work to british labour; russia has begun to impose separate road charges on trucks from the european union, switzerland and turkmenistan: three:08 us economic recovery following the financial crisis: the response of the united states authorities to the crisis at the domestic policy level. With the federal reserve and the treasury at the centre of its efforts, the united states government had begun to launch a contingency mechanism for the financial crisis. The federal reserve uses traditional monetary policy instruments and parts of it are very..
Policy instruments, with loose monetary policies, have selective interventions in financial markets, while the ministry of finance, with tax cuts at its core, has strengthened the application of fiscal policy by providing assistance to institutions closely linked to the real economy, such as “two houses”. Specific tools include the following. 1. Easier monetary policy. Lower federal base rate. In the face of the continuing spread of the crisis to more areas, on 18 september 2007 the federal reserve firmly decided to lower the federal benchmark rate from 5. 25 per cent to 4. 75 per cent, the first such reduction since june 2003. Since then, the fed has declined interest rates six times, three times in response to crisis shocks, sharply lowering federal benchmark interest rates and lowering discount rates. Lowering the discount rate on financial institutions was the first response of the fed to the crisis. On 17 august 2007, the federal reserve reduced the discount rate from 6. 25 per cent to 5. 75 per cent, and the discount period was granted
The overnight period is temporarily extended to 30 days. Enables an unconventional liquidity management tool. Such as short-term branding tools, short-term securities lending instruments and first-level traders ' credit instruments. By the end of june 2008, a total of $17,1133 million in base currency had been borrowed from the market in these three ways, which had contributed to further increasing market liquidity and revitalizing the confidence of united states investors. Open market operation. From december 2007 to the end of june 2008, the federal reserve released more than $170 billion in currency to financial institutions by buying in national debt. The policy of the united states authorities in response to the crisis (2) is relatively active in fiscal policy. Tax incentives. On 20 december 2007, united states president bush signed a tax exemption for mortgage debt relief. The bill provides for a parallel tax exemption assistance for housing mortgage relief for homeowners to enhance their debt solvency. Assistance to “two houses”
Institutions. On 30 july 2008, united states president bush signed the housing and economic recovery act, announcing a $300 billion special fund to guarantee a total of approximately 400,000 home buyers applying for a 30-year fixed-interest mortgage. To promote financial reform and explore new systems of financial regulation. On 31 march 2008, united states treasury secretary paulsson presented to congress a blueprint for the modernization of the financial regulatory system of the financial reform programme, which sets out two main objectives of financial regulatory reform: first, to enhance the competitiveness of united states capital markets; and second, to protect the interests of united states consumers and preserve market stability. The specific expression of the policy for the economic recovery was the deep decline in the united states economy following the outbreak of the united states financial crisis in the second half of 2008, but the recovery in the second half of 2009 was followed by a smaller and shorter recovery; the united states in the second and third quarters of 2011
14. GDP has stabilized at the same rate of increase and the ring rate of increase has continued to pick up, with the united states economy's second round ending in the aftermath of the crisis and on its way to recovery; since 2013, the united states stock market has been “happy” and, on the last day of 2013, the dow jones index and the pocket index have both been up, at 16576. 66 points and 1848. 36 points, respectively, and the united states share has received close to perfect performance. The manufacturing situation in the united states is also a great improvement. The manufacturing pmi is a barometer of the overall development of manufacturing in the united states. A report released by the american supply management association on 1 march indicated that the united states manufacturing pmi was 54. 2 in february, up from 53. 1 in the previous month, to its highest level since june 2014. United states corporate profitability. (a) there are now 24 standard 500 stock companies that have issued financial statements for the last quarter, with overall profitability increasing by 18. 6 per cent over the same period, and 54 per cent better than expected
The growth in body income of 7. 2 per cent, which is higher than expected, has reached 66. 7 per cent, in which the financial sector will continue to be the most important driver of corporate profit growth. Turning to unemployment, this is the most important indicator for the united states government. According to statistics for the last two years, unemployment in the united states has been on a downward trend, accelerating since june 2013 and dropping from a high of 8. 8 per cent in 2011 to 7. 3 per cent in october. It is believed that the united states government will make greater efforts in 2014 to ensure that unemployment rates fall further below 7 per cent. Four: the financial crisis revealed to china four: the revelation to china from the financial crisis and to china from china one, one, the further strengthening of risk management in china's real estate financial markets and the further strengthening of risk management in china's real estate financial markets one, the strengthening of individual mortgage credit qualification and the increased focus on financial innovation
Increased attention to the potential risks of financial innovation,3 improved credit soundness by strengthening risk management, and improved risk management to improve the soundness of credit. Second, china's financial regulation has further strengthened its financial regulation of real-estate credit risk,1 strengthened regulation of real-estate credit risk,2 strengthened regulation of financial innovation products and markets,3 strengthened regulation of financial innovation products and markets3 and orderly regulation of financial innovation products and markets3 contributed to the orderly liberalization of china's financial system and to the revelation of china's openness to china's financial system. 3 third, careful assessment and implementation of careful external investment assessment and enforcement of external portfolio investment risk avoidance of offshore portfolio investment. 2 high priority has been given to the risk of financial derivatives that correctly grasp the complexity of international capital markets,3 and rightly captures the revelation of china's capital markets. In particular, china, which is experiencing a slow growth in asset prices, has an important impact. In particular, china is at a very early stage of rising asset prices and foreign portfolio investment, studying the impact of the us sub-bond crisis on china, and the impact of the us sub-bond crisis on china’s performance. Thank you for watching
