A chronology of the crisis

When the history of the crisis is written, August 2007 is likely to be universally adopted as the starting date. On 9 August 2007, bad news (see below) from BNP Paribas, a French bank, triggers a sharp rise in the cost of credit and sends shock waves through the financial markets. The problems, however, started much earlier.

Earlier origins
After a two-year period between 2004 and 2006 during which interest rates in the United States rose from 1% to 5.35%, the US housing market begins to falter

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.