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翻訳と辞書　辞書検索 [ 開発暫定版 ] スポンサード リンク Credit crunch ： ウィキペディア英語版 Credit crunch A credit crunch (also known as a credit squeeze or credit crisis) is a reduction in the general availability of loans (or credit) or a sudden tightening of the conditions required to obtain a loan from the banks.〔(【引用サイトリンク】title=Credit Crunch Definition )〕 A credit crunch generally involves a reduction in the availability of credit independent of a rise in official interest rates. In such situations, the relationship between credit availability and interest rates has implicitly changed, such that either credit becomes less available at any given official interest rate, or there ceases to be a clear relationship between interest rates and credit availability (i.e. credit rationing occurs). Many times, a credit crunch is accompanied by a flight to quality by lenders and investors, as they seek less risky investments (often at the expense of small to medium size enterprises).〔(''Is There A Credit Crunch in East Asia?'' ) Wei Ding, Ilker Domac & Giovanni Ferri (World Bank)〕 ==Causes== A credit crunch is often caused by a sustained period of careless and inappropriate lending which results in losses for lending institutions and investors in debt when the loans turn sour and the full extent of bad debts becomes known.〔(''Has Financial Development Made the World Riskier?'' ), Raghuram G. Rajan〕〔(''Leverage Cycles'' ) Mark Thoma, Economist's View〕 Some research suggests careless lending tends to occur more often in fragmented, competitive credit markets in which lenders may compete with one another for market share and revenue by relaxing standards.〔Michael Simkovic, ("Competition and Crisis in Mortgage Securitization" )〕 There are a number of reasons why banks might suddenly stop or slow lending activity. For example, inadequate information about the financial condition of borrowers can lead to a boom in lending when financial institutions overestimate creditworthiness, while the sudden revelation of information suggesting that borrowers are or were less creditworthy can lead to a sudden contraction of credit.〔Michael Simkovic, ("Secret Liens and the Financial Crisis of 2008" ), American Bankruptcy Law Journal 2009〕 Other causes can include an anticipated decline in the value of the collateral used by the banks to secure the loans; an exogenous change in monetary conditions (for example, where the central bank suddenly and unexpectedly raises reserve requirements or imposes new regulatory constraints on lending); the central government imposing direct credit controls on the banking system; or even an increased perception of risk regarding the solvency of other banks within the banking system.〔〔(China lifts reserve requirement for banks )〕〔(''Regulatory Debauchery'' ), Satyajit Das〕 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Credit crunch」の詳細全文を読む スポンサード リンク 翻訳と辞書 : 翻訳のためのインターネットリソース Copyright(C) kotoba.ne.jp 1997-2016. All Rights Reserved.