備考2021年FRM一級考試，考生需要對金融危機(jī)的加劇相關(guān)內(nèi)容有所了解。關(guān)于哪些內(nèi)容是需要記憶的呢？

1. The build-up to the financial crisis

a. Key factors leading to the housing bubble

? The U.S economy was experiencing a low interest rate environment

? The banking system underwent an important transformation.

b. The Originate-to-Distribute Business

? Securitization process》》》2021年新版FRM一二級內(nèi)部資料免·費(fèi)領(lǐng)?。　揪A版】

? Collateralized debt obligation (CDO)

? Credit default swap (CDS)

c. Delinquencies on Subprime Mortgages Rose

The inherent credit quality of the borrower is typically weak and the mortgage often undercollateralized.

First-time home buyers paid zero down payment.

Many subprime mortgages included teaser rates.

Originating brokers had very little incentive to conduct proper due diligence.

The ability to refinance mortgages ahead of the reset date was declined significantly.

The heavy demand for subprime mortgage products encouraged questionable practices by some lenders.

譯文：【資料下載】GARP協(xié)會(huì)《2021年FRM學(xué)習(xí)目標(biāo)》

金融危機(jī)的加劇

a、導(dǎo)致房地產(chǎn)泡沫的關(guān)鍵因素

?美國經(jīng)濟(jì)正經(jīng)歷著低利率環(huán)境

?銀行體系經(jīng)歷了重大變革

b、發(fā)行業(yè)務(wù)的發(fā)起人

?證券化流程

?債務(wù)抵押債券（CDO）

?信用違約掉期（CDS）

c、次級抵押貸款拖欠率上升

借款人固有的信貸質(zhì)量通常很弱，抵押貸款往往欠抵押

首 次購房者零首 付

許多次級抵押貸款都包含了誘人的利率

發(fā)起經(jīng)紀(jì)商很少有動(dòng)機(jī)進(jìn)行適當(dāng)?shù)谋M職調(diào)查

在重置日期之前為抵押貸款再融資的能力明顯下降

對次級抵押貸款產(chǎn)品的大量需求助長了一些貸款機(jī)構(gòu)的可疑做法。

FRM考試的知識(shí)點(diǎn)內(nèi)容就分享這么多，學(xué)員如果還有更多的內(nèi)容想要學(xué)習(xí)，可以在線咨詢老師或者添加老師微信（rongyuejiaoyu）。