The first major effect of the US subprime mortgage market was relt in Australia around August 2007 when the Australian mortgage lender RAMS announced that it was unable to sell $6 billion' of its securitized debt in the global financial market. The RAMS financing model depended on selling home loans in AustralIa, securitizing these and then seUing the securitize<! debt in international financial markets. Following this announcement, the RAMS share price rell $0.82c to $0.57c. The announcement had an Immediate detrimental flow-on effect On the share prices of other financial institutions including the Macquarie~ Adelaide and St George banks, as well as several other highly geared non-bank companies such as Centro Properties,
The Financial and Economic Crises: An International Perspective
How Australia survived the global financial crisis
140212 Macroeconomics (Incl. Monetary and Fiscal Theory)
140210 International Economics and International Finance
150205 Investment and Risk Management
/University of Technology Sydney
/University of Technology Sydney/Faculty of Business
/University of Technology Sydney/Faculty of Business/Economics
The first major effect of the US subprime mortgage market was relt in Australia around August 2007 when the Australian mortgage lender RAMS announced that it was unable to sell $6 billion' of its securitized debt in the global financial market. The RAMS financing model depended on selling home loans in AustralIa, securitizing these and then seUing the securitize
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