BUDAPEST, Nov 15 (Reuters): Global impacts resulting from the US subprime mortgage market crisis are not over yet but more information is needed to determine their full extent, Organisation for Economic Cooperation and Development (OECD) Chief Angel Gurria said in a speech here Thursday.
"I don't think we have seen the end of the manifestations of the problem. I think we need more information about the impacts," Gurria, Secretary-General of the OECD said.
He said the greatest impact of the recent turmoil was on confidence, and the crisis had accelerated an ongoing slowdown in the pace of global growth.
Banks including Citigroup, Merrill Lynch and UBS have announced colossal losses in recent weeks after a meltdown in securities linked to US subprime mortgages-loans made to borrowers ill-equipped to repay them.
OECD warns subprime turmoil impact not yet over
FE Team | Published: November 16, 2007 00:00:00 | Updated: February 01, 2018 00:00:00
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