Credit crisis will ruin banks


This week many savings and loan associations of Europe have seriously become nervous: investors have started to draw out money from the accounts, being afraid of a new wave of consequences of credit crisis. It is most because of crisis the Great Britain suffers, the truth in Australia too excitements already begin.

All has begun that clients of English bank Northern Rock have started to draw out in large quantities from accounts money. This week the government has tried to calm the remained investors and has given guarantees of their contributions. Not to admit crisis distribution on other banks, the government of the Great Britain also has given out credits to many banks for the sum of 8,8 billion pounds. Interestingly that English banks did not demand financial support about 30 years.

Now for a new wave of crisis prepare in Australia. First of all, it can concern those banks which worked with the hypothecary programs much, to similar programs of the American banks. The prices of securities of the Australian banks have already started to fall, having caused drop in prices in other markets. However, in the Russian market while all is normal. We continue to conduct supervision …

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This entry was posted on Wednesday, September 19, 2007 at 1:29 пп and is filed under the Help in reception of credits.