2007~2008 금융위기와 미국신협의 부동산대출 지도감독
2007~2008 Financial Crisis and the Supervision of Credit Union Real Estate Lending in the U.S.
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Abstract
The financial condition of US credit unions has been stable in spite of the turmoil in the financial market caused by the sub-prime mortgage crisis. Assets, savings, loans, investments, net worth and membership of US credit unions have increased during 2007～2008. Delinquency, net charge-offs and foreclosures have risen, and earnings and the resultant net worth ratio have fallen, which show that credit unions are not immune to the financial crisis. But the negative impact of the 2007～2008 financial crisis on US credit unions is not significant. The main reason why US credit unions have not been impacted much by the financial crisis is that most of them have not been involved in high-risk mortgage lending and investment. It is explained by several factors: A credit union has no incentive to lend high-risk mortgages as a cooperative financial institution owned and managed by its members. The credit union law and regulations including the ban on prepayment penality and the interest rate cap discouraged credit unions to do high-risk lending. Above all, the US credit union regulator has provided guidance on mortgage lending and investment to credit unions since the early 1990s, informing them of the risks associated with non-traditional lending and investment.
참고문헌 (44)
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