Process related content (time):

On February 13, 2007, New Century Finance issued a profit warning for the fourth quarter of 2006.

HSBC Holdings has increased bad debt provisions by US$1.8 billion for its U.S. subprime mortgage business.

Faced with $17.4 billion in debt pressure from Wall Street, New Century Financial Corp, the second largest subprime mortgage company in the United States, announced on April 2 that it would file for bankruptcy protection and lay off 54 people. % of employees.

On August 2, Deutsche Bank announced a profit warning, and later estimated a loss of 8.2 billion euros, because one of its 12.7 billion euros is the "Rhineland Funding" and The bank itself had a small involvement in the U.S. real estate subprime mortgage market and suffered huge losses. The Bundesbank convened the country's banks to discuss a basket plan to rescue Deutsche Bank.

American Home Mortgage Investment Corporation, the tenth largest mortgage lender in the United States, officially filed for bankruptcy protection with the court on August 6, becoming another large mortgage lender in the United States to file for bankruptcy after New Century Financial Corporation. .

On August 8, Bear Stearns, the fifth largest investment bank in the United States, announced the collapse of two of its funds, also due to the subprime mortgage crisis.

On August 9, BNP Paribas, France’s largest bank, announced the freezing of three of its funds, also because they suffered huge losses from investing in U.S. subprime mortgage bonds. The move sent European stock markets plunging.

On August 13, Mizuho Group, the parent company of Mizuho Bank, Japan’s second largest bank, announced losses related to U.S. subprime mortgages of 600 million yen. Japanese and Korean banks have already incurred losses due to the U.S. subprime mortgage crisis. UBS Securities Japan estimates that Japan's nine largest banks hold more than 1 trillion yen in U.S. subprime mortgage-backed securities. In addition, five Korean banks, including Woori, invested a total of US$565 million in secured debt obligations (CDOs). Investors are worried that the U.S. subprime mortgage problem will have a strong impact on global financial markets. However, Japanese analysts are convinced that the vast majority of CDOs invested by Japanese banks have the highest credit ratings, and the impact of the subprime mortgage crisis will be limited.

Citigroup also announced later that losses caused by subprime mortgages in July amounted to US$700 million. However, for a financial group with an annual profit of US$20 billion, this is only a small amount.