The credit market changes so what influence made the word and the American crisis upon the banks systems of many countries. That is what we are going to find out in this article.

Because of mortgage crisis in the USA, a lot of banks banks can raise rates and toughen conditions of credit issue and other bank services.

One of the banks which take the third place among the banks on volume of issue of mortgage loans, have raised the interest rate and has increased the initial contribution on a mortgage.

Conditions are toughened only for clients who can’t confirm the incomes officially, for other borrowers while remain former. These measures will reduce rates of issue of credits and will allow keeping profitableness of business, – the first vice-president of bank has explained.

How the banks react to the American crisis and also to the world crisis?

While there only few banks which have reacted to the crisis phenomena of a mortgage market of the USA where the sum of non-returns on a mortgage has reached 600 billion dollars.

Those banks in which mortgage volumes much smaller than at some greater banks have chosen other tactics: they continue to involve clients, lowering rates to grasp a part of the market which was inaccessible before to them. For example, what these banks do that have lowered credit rates.

The mortgage isn’t so accessible, and wishing to use it the large quantity, therefore the majority of banks are forced to involve clients, despite crisis, – the deputy director of department of auditor and consulting services of consulting company speaks.

The American bank crisis hasn’t passed not noticed for the market of banking services of many countries. According to the president of banking association of the Northwest, there are a lot of banks with the foreign capital (so-called non-residents), there was a rate increase on the money, which banks occupy each other (interbank loans).

Now it constitutes 12 percent, thus, that fluctuated until recently within 4-5 percent. As all financial world is connected, banks will hold the means though in the best situation would give them on credits, – the president of banking association of the Northwest speaks.

Credit conditions will change

In this situation credit conditions, not only mortgage, but also under any other consumer program most likely will change. For example, point cancellation “without the first down payment” and requirement toughening to clients who don’t confirm the incomes officially is possible.

While I didn’t hear that someone from Association of banks has changed credit rates or conditions, but at each bank there is their own individual strategy, however it is not excluded that it will occur», – considers the president of banking association of the Northwest speaks.

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