As the real economy worsens, the scope of nonperforming assets is moving from securitized products to commercial and other loans.
また、株価下落など、金融面の動向が、実体経済面にマイナスの影響を及ぼす可能性にも注意が必要である。
Additionally, attention should be paid to possible negative effects on the real economy from financial developments including the recent fall in stock prices.
より大規模な設置は民間企業の現場での存在と月資源を中心とした実体経済の創造を必要とするでしょう。
A more massive installation would require the presence on the spot of private companies and the creation of a real economy centered on lunar resources.
グローバルシステムの危機/2008年9月-米国実体経済の崩壊。
Global systemic crisis/ September 2008- Collapse phase of the real economy in the US.
新たなリスクとしては、最近の不安定な金融市場が、実体経済、特に米国に波及すること。
A major new source of risk is the spillover of recent financial market volatility into the real economy, especially in the United States.
Europe2020グローバルシステムの危機/2008年9月-米国実体経済の崩壊。
Global systemic crisis/ September 2008- Collapse phase of the real economy in the US.
In addition, if financial institutions incur massive losses due to a decline in government bond prices, the real economy will be adversely affected and it will become necessary to augment capital of financial institutions by way of fiscal funds.
Looking at Panel B, shocks have a significant negative impact on the real economic activity index 13-19 months after they happen, with the impact peaking(at 0.7%) after 17 months.
The second stage is the transmission of effects from the financial environment to the real economy, or in other words the extent to which firms and households make use of the accommodative financial conditions to increase their investment and spending.
If the road toward the resolution of the sovereign debt problem in Europe is understood as just described, economic activity and financial systems in Europe are likely to be unstable for the time being.
However, financial institutions continued to take a cautious lending stance, and therefore, it was necessary to watch carefully the effects of such cautiousness on corporate financing and real economic activity.
Both criticized the discretionary rule and wanted a fixed rule consisting of setting the growth of money supply in line with real economic growth and a secular moderate inflation at two percent a year.
If base rates for bank loans decline further, there could be a decline in the amount of bank loans, which constitute an important transmission channel through which the effects of monetary policy spread to the real economy.
As a result, regarding economic activity, corporate profits marked a record high level and the unemployment rate, released last week, has declined to a remarkably low level of 3.0 percent.
However, if similar phenomena occur frequently in major markets, we cannot completely deny the possibility that they would adversely affect financial systems and real economies.
In order to evaluate the effects of monetary policy, it is therefore deemed appropriate to look closely at the prices of various financial assets, real economic variables, price developments, and also the fund-raising behavior of firms and households.
Although financial markets have been calm, including foreign exchange rates and stock prices, it is necessary to be vigilant about the possibility that both the real economy and financial markets will deteriorate through an adverse feedback loop.
When the market's confidence in fiscal sustainability declines, economic activity is negatively affected due to the adverse feedback loop between financial and economic activity.
Such movements in financial markets entail risks that the real economies of these countries will be affected by tightened financial conditions and worsened business and household sentiment.
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