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From Crunch to Squeeze: Global Impact of the Credit Crisis on Commercial and Small Business LendingProduct Type: Market Research ReportPublished by: TowerGroup Published: January 2008 Product Code: R301-1413 Description A notable addition to the TowerGroup 2008 top 10 wholesale banking business drivers is market instability. The US consumer credit crisis that came to a boil in 2007 created a ripple effect across global markets. On top of increases in loan loss reserves and write-offs of nonperforming assets, financial institutions are facing a slowdown in the global economy, leading to decreased earnings and capital levels. Much has been written about the impact of the subprime mortgage mess on consumer lending; this TowerGroup Research Note discusses the impact of the US credit crunch on worldwide commercial and small business lending in 2007 and includes a forecast for 2008.
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