The sub-prime crisis: A central banker's perspective

Philipp M. Hildebrand

Journal of Financial Stability, 2008, vol. 4, issue 4, 313-320

Abstract: The crisis is not yet over; the housing market continues to deteriorate and there are spill-overs into other markets. Growth is declining, with potentially self re-enforcing mechanisms between financial markets and the real economy coming into play. A local problem became a global crisis because of poor risk management, lack of transparency and excessive leverage. Not only does the capital base need re-building, but also incentive schemes need reconsideration.

Keywords: Sub-prime; mortgage; Housing; market; Leverage; Capital; ratios; Swiss; banks (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finsta:v:4:y:2008:i:4:p:313-320

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