Japanese banks turn from sinner to saint
Summary from multiple countries, from articles in English
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According to the quarterly Credit Conditions survey by the Bank, lenders plan to reduce their loans to consumers and companies over the next three months, increase their charges and demand more concessions, such as higher deposits. (article 1)
A decade ago, Japanese banks were being shunned in the global capital markets because of concerns about their backlog of bad loans. (article 4)
Mortgage approvals remained close to decade lows in February despite a period of relative calm in markets, Bank of England data showed on Wednesday, suggesting the latest signs of strain among lenders could trigger further weakness in house prices. (article 3)
The figures confirm the effect tensions in money markets are having on the cost and availability of mortgages, coming a day after First Direct suspended new mortgage lending and other banks raised rates charged to existing customers. (article 3)
European money markets saw tensions ease for the first time in a month on Monday as pledges from the central bank to inject more funds appeared to boost liquidity between banks. (article 6)
Both stories show that the markets for bonds backed by mortgage and other debts are part of a global game of chicken involving central banks on one side and investors with cash to put to work on the other. (article 5)
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Story keywords
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banks, cent, markets, rates, credit |
Source articles
- Mortgage deal squeeze raises chances of cut in interest rate (business.timesonline.co.uk, 04/04/2008, 790 words)
- Bank of England warns mortgage famine to worsen (business.timesonline.co.uk, 04/03/2008, 431 words)
- UK lending low threatens house prices (ft.com, 04/02/2008, 549 words)
- Japanese banks turn from sinner to saint (ft.com, 04/02/2008, 716 words)
- Investors and central banks wait for each other to blink (ft.com, 04/01/2008, 826 words)
- ECB injection pledge eases tension (ft.com, 04/01/2008, 433 words)
- ECB move fails ease credit tensions (ft.com, 04/02/2008, 460 words)
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