Writing Resources
Secondary Banking Crisis of 1973 1975 A financial crisis is any of a broad form of things within which some financial assets suddenly lose an oversized a part of their par value within the nineteenth and early twentieth centuries several money crises were associated with banking panics and many recessions coincided with these panics different things that are typically known as money crises include stock market crashes and the bursting of different financial bubbles currency crisis and sovereign default money crises directly lead to a loss of paper wealth The secondary banking crisis of 1973 75 was a dramatic crash in British property prices that caused dozens of small secondary lending banks to be threatened with bankruptcy The secondary banks just like the larger establishments had been lending heavily supported by previous rising housing costs of the late 1960's and early 1970 s borrowing in excess to carry the loan assets the increase in housing costs was the impact of British post war The secondary banks were competitive against the prestigious and heavily regulated clearing banks that were more and more subject to government imposed ceilings on their lending
