风险管理与金融机构3e john hull.pptxVIP

The Credit Crisis of 2007Chapter 6 Risk Management and Financial Institutions 3e, Chapter 6, Copyright ? John C. Hull 2012U.S. Real Estate Prices, 1987 to 2011: SP/Case-Shiller Composite-10 IndexRisk Management and Financial Institutions 3e, Chapter 6, Copyright ? John C. Hull 2012What happened…Starting in 2000, mortgage originators in the US relaxed their lending standards and created large numbers of subprime first mortgages. This, combined with very low interest rates, increased the demand for real estate and prices rose. To continue to attract first time buyers and keep prices increasing