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2007年2月,汇丰银行率先发出警告,美国次级按揭贷款问题(以下简称次按问题)初次浮现,但当时市场普遍认为次按和次按债券占美国全部按揭贷款和金融市场的规模不大,不会引致重大的金融动荡或危机。然而,美国楼市在过去数月持续调整,由地区性问题扩展至全国性问题,至今尚未有见底的迹象,加上很多浮息次按需要在2007年内重订利率,贷款人的供款金额增加两至三成,对收入较低的贷款人造成财务负担。美国次按的拖欠比率因而上升至13.8%,收楼比率亦升至5.1%,令银行和次按债券的投资者蒙受损失,次按问题再次于7月底、8月初成为市场的焦点。
In February 2007, HSBC took the lead in issuing a warning that the U.S. subprime mortgage loan issue (hereinafter referred to as the “subprime mortgage issue”) first came to light. However, when the market generally held that subprime mortgages and subprime mortgages accounted for the entire U.S. mortgage loans and financial markets, , Will not lead to major financial turmoil or crisis. However, the continuous adjustment of the property market in the United States over the past few months from regional issues to national issues has yet to see signs of bottoming out. In addition, many floating rates are required to re-rate interest rates within 2007 as required. The contribution amount of lenders Increase by 20% to 30%, creating a financial burden on lenders with lower incomes. As a result, the U.S. subprime delinquency rate rose to 13.8% and the rate of repossession rose to 5.1%, causing losses to banks and sub-bond investors. The subprime mortgage issue again became the focus of the market in late July and early August.