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UK
The situation on the credit market is so complicated and so nervouse investors
that the Bank of England was forced to make a special statement to assure the
public that Britain is immune from the crisis safely. The British Central Bank
has assured that he still has non-limited (in theory) bad credit mortgage facilitiesand is ready to provide it to all the organizations that need to increase
liquidity.
The statement also emphasized that the Bank of England is not ready to follow
the path of the European Central Bank (ECB), and provide funds to commercial banks by refinancing rate and mortgage (currently 5.75%). Theoretically, in the case ofurgent necessity, he has the right to do so. However, the UK financial authorities do not want to assume the role of an emergency remortgage, which would applyto all contractors at the first signs of crisis.
Loans will be given under the relevant provision, and increased rates (1% aboverefinancing rate).
Despite the tightening of credit conditions that caused global liquidity and bad credit
crisis, since mid-July, no bank is not requested the assistance of the Bank of
England. Late last week saw the biggest drop in the shares of British companies
over the past 7 years.
Asia
The situation in Asian financial markets is becoming worse and worse day by
day. The panic has continued for more than a week: securities hedge funds
dumped at any price, only to sell. I only hope the funds that it is all finally
ever stop.
But this is unlikely to happen for some time: when the market begins hysteria,
it is very difficult to stop it, especially in the face of inaction chief
culprit - the Fed. This is exacerbated by the collapse of markets financiers
memories of 1987 and the collapse of the Asian crisis of 1997 (before Russia,
he laps in 1998) - they unwittingly hold parallel and is already preparing to
global issues.
Most analysts and investors do not even try to predict how long the current
crisis. It is significant that after the rampant sale of securities hedge funds
and banks involved in mortgages, traders in the Asian stock exchanges have started to dismiss everything: in particular Nintendo shares of the company
(producer of electronic games), which until last week had been a clear favorite
for the market.
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