次级抵押贷款,是指美国一些金融机构向信用度低、收入证明缺失、负债较重的人提供住房贷款。2007年3月,美国第二大次级抵押贷款公司——新世纪金融公司,由于收不回贷款损失惨重,被迫向美国联邦破产法院提出破产保护申请。从此,“多米诺骨牌”相继倒下,30多家次级抵押贷款公司先后停业。美国和欧洲的许多共同基金、对冲基金、大型银行、保险公司购买了大量由次级抵押贷款衍生出来的证券投资产品,纷纷受到重创。 Subprime mortgages refer to the provision of home loans by some U.S. financial institutions to those with low creditworthiness, lack of proof of income, and heavy liabilities. In March 2007, New Century Financial, the second largest U.S. subprime lender, was forced to file for bankruptcy protection with the U.S. Bankruptcy Court because of heavy losses on non-recoverable loans. Since then, “dominoes ” have fallen, more than 30 sub-prime mortgage companies have closed down. Many mutual funds in the United States and Europe, hedge funds, major banks, and insurance companies have purchased a large number of securities investment products derived from subprime mortgages, which have been hit hard.