Global government and central bank actions designed to counteract systemic mortgage-related concerns are "positive" but "have not had a material impact on curbing the crisis in the credit markets," according to a recent report from the New York office of DBRS, Toronto."With additional liquidity in the banking system, the hope is that there should be some easing of the credit crunch that began last summer," the report said. "However, the credit crisis may remain more protracted in the mortgage sector and further measures may be needed." DBRS can be found on the Web at http://www.dbrs.com.
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