In the United States, delinquency rates have risen not only for mortgage loans but for commercial real estate loans and consumer loans as well, reflecting the weaker U.S. economy. Reflecting this, the capital bases of financial institutions have been further impaired, and their lending attitudes have become even tighter – the emergence of a negative feedback loop between financial and economic activities.
To address the situation, which can be described as a "financial crisis," governments and central banks have already taken decisive measures. Central banks have strived to stabilize financial markets by aggressively providing liquidity in their own currencies.