Search: Sub-prime mortgage
RBA Glossary definition for Sub-prime mortgage
Sub-prime mortgage – While there is no precise definition of sub-prime mortgages, in the United States, they are typically loans made to borrowers with impaired credit histories, which might include one or more payment defaults, a previous loan foreclosure, or bankruptcy.
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1 April 2008 | Minutes of the Monetary Policy Meeting of the Board
15 Apr 2008
Minutes
Minutes of the monetary policy meeting of the Reserve Bank Board for 1 April 2008
https://www.rba.gov.au/monetary-policy/rba-board-minutes/2008/01042008.html
Statement on Monetary Policy - November 2008
20 Mar 2009
SMP
PDF
878KB
Reserve Bank of Australia
https://www.rba.gov.au/publications/smp/2008/nov/pdf/1108.pdf
International and Foreign Exchange Markets
10 Nov 2008
SMP
– November 2008
As discussed in previous Statements, the initial trigger for the current financial turmoil was the collapse of investor confidence in securities backed by US mortgages, particularly sub-prime mortgages. ... Spreads on corporate debt surpassed their
https://www.rba.gov.au/publications/smp/2008/nov/intl-fx-mkts.html
International and Foreign Exchange Markets
10 Nov 2009
SMP
– November 2009
Prices on sub-prime residential mortgage-backed securities (RMBS) have shown relatively little improvement and remain less than half their pre-crisis levels, reflecting their higher expected likelihood of default. ... Despite this, the Fed extended
https://www.rba.gov.au/publications/smp/2009/nov/intl-fx-mkts.html
2 October 2007 | Minutes of the Monetary Policy Meeting of the Board
18 Dec 2007
Minutes
Minutes of the monetary policy meeting of the Reserve Bank Board for 2 October 2007
https://www.rba.gov.au/monetary-policy/rba-board-minutes/2007/02102007.html
Domestic Financial Markets and Conditions
10 Feb 2007
SMP
– February 2007
This has been particularly evident in lower spreads on domestically issued residential mortgage-backed securities (RMBS). ... Losses on sub-prime loans have risen to around 20 basis points in 2006, but these losses appear to have been adequately covered
https://www.rba.gov.au/publications/smp/2007/feb/dom-fin-mkts.html
Domestic Financial Markets
10 Nov 2008
SMP
– November 2008
S&P affirmed the credit ratings of the five largest Australian banks, citing their ‘conservative stance’ and limited exposure to the US sub-prime crisis. ... Interest rates on prime low-doc loans have decreased by 117 basis points.
https://www.rba.gov.au/publications/smp/2008/nov/dom-fin-mkts.html
Statement on Monetary Policy – November 2009
5 Nov 2009
SMP
PDF
1011KB
Reserve Bank of Australia
https://www.rba.gov.au/publications/smp/2009/nov/pdf/1109.pdf
Economic Outlook
10 May 2009
SMP
– May 2009
This loss of confidence and the significant rise in risk aversion magnified the slowing that was already underway in the major advanced economies flowing from the problems in the US ... prime mortgage market.
https://www.rba.gov.au/publications/smp/2009/may/eco-outlook.html
5 June 2007 | Minutes of the Monetary Policy Meeting of the Board
7 Jun 2007
Minutes
Minutes of the monetary policy meeting of the Reserve Bank Board for 5 June 2007
https://www.rba.gov.au/monetary-policy/rba-board-minutes/2007/05062007.html