2007-2009金融危机大事记(时间表)英格兰银行整理

金融危机时间表

58Financial Stability Report June 2009

Annex

Timeline of crisis events

This timeline details key events since Spring 2007.10 Dec. 0712 Dec. 07

UBS announces measures to deal with capital concerns following further write-downs.Joint Bank of England, Federal Reserve, ECB, Swiss National Bank (SNB) and Bank of Canada Date5 Mar. 07

22 June 0730 July 07

9 Aug. 07

9 Aug. 07

17 Aug. 0717 Aug. 07

10 Sep. 0713 Sep. 07

14 Sep. 0717 Sep. 07

19 Sep. 07

Oct. 078 Nov. 07

20 Nov. 07

Event

HSBC announces one portfolio of purchased sub-prime mortgages evidenced much higher delinquency than had been built into the pricing of these products.

Bear Stearns pledges a collateralised loan to oneof its hedge funds but does not support another.IKB announces that profit will be ‘significantly’ lower than forecast as a result of sub-prime mortgage exposures.

BNP Paribas suspends calculation of asset valuesof three money market funds exposed to sub-prime and halts redemptions. AXA had earlier announced support for its funds.European Central Bank (ECB) injects €95 billion overnight to improve liquidity. Injections by other central banks.

Sachsen LB receives bailout from German savings bank association.

Federal Reserve approves temporary 50 basis points reduction in the discount window borrowing rate, extends term financing, and notes it will ‘accept a broad range of collateral’.Victoria Mortgage Funding is the first UK mortgage company to fail.

Bank of England announces that it will widen therange on banks’ reserves targets within which they are remunerated at Bank Rate.Bank of England announces it has provided a liquidity support facility to Northern Rock.Following a retail deposit run, the Chancellor announces a government guarantee for Northern Rock’s existing deposits.

Bank of England announces plans to undertake aseries of three-month auctions against a broaderrange of collateral (including mortgage collateral).

Citi, Merrill Lynch and UBS report significant write-downs.

Moody’s announces it will re-estimate capital adequacy ratios of US monoline insurers/financial guarantors.

Freddie Mac announces 2007 Q3 losses and saysit is considering cutting dividends and raising new capital.

20 Dec. 07Jan. 0811 Jan. 0815 Jan. 0824 Jan. 0811 Feb. 08

17 Feb. 0819 Feb. 08

11 Mar. 08

14 Mar. 08

16 Mar. 08

16 Mar. 0821 Apr. 08

22 Apr. 0829 Apr. 08

announcement of measures designed to deal with pressures in short-term funding markets. Actions taken by the Federal Reserve include theestablishment of a temporary Term Auction Facility (TAF).

Bear Stearns announces expected 2007 Q4 write-downs.

Announcements of significant 2007 Q4 losses, by Citi and Merrill Lynch, among others.Bank of America confirms purchase of Countrywide.

Citi announces it is to raise US$14.5 billion in new capital.

Société Générale reveals trading losses resulting from fraudulent trading by a single trader.American International Group (AIG) announces its auditors have found a ‘material weakness’ in its internal controls over the valuation of the AIGFP super senior credit default swap portfolio.UK Government announces temporary nationalisation of Northern Rock.

Credit Suisse announces they have identified mismarkings and pricing errors by a small number of traders.

Federal Reserve announces the introduction of a Term Securities Lending Facility and Bank of England announces it will maintain its expandedthree-month long-term repo against a wider range of high-quality collateral.

JPMorgan Chase & Co. announces that it has agreed, in conjunction with the Federal Reserve Bank of New York, to provide secured funding to Bear Stearns for an initial period of up to 28 days.

JPMorgan Chase & Co. agrees to purchase Bear Stearns. Federal Reserve provides US$30 billion non-recourse funding. Federal Reserve announces establishment of Primary Dealer Credit Facility.

Bank of England launches its Special Liquidity Scheme (SLS) to allow banks to swap

temporarily their high-quality mortgage-backed and other securities for UK Treasury bills.RBS announces £12 billion rights issue.HBOS announces £4 billion rights issue.

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