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单词 subprime
释义

subprimeadj.n.

Brit. /ˈsʌbprʌɪm/, U.S. /ˈsəbˌpraɪm/
Origin: Formed within English, by derivation. Etymons: sub- prefix, prime adj.
Etymology: < sub- prefix + prime adj.
Originally and chiefly U.S.
A. adj.
1. Below the highest quality or grade; inferior.
ΚΠ
1920 Food Investig. (U.S. Federal Trade Commission) iv. iii. 190 The producer would thereby have assurance of more reasonable prices for his products when they arrived at market in subprime condition.
1962 Times 23 Jan. 16/2 (advt.) Keen competition..which forced down prices for secondary and sub-prime materials..to abnormally low levels.
1993 J. M. Mayo Amer. Grocery Store vi. 221 Corporate discount chain managers locate their stores in sub-prime locations to avoid high land costs.
2010 New Yorker 4 Jan. 26/1 Roy began to voice her students' dismay,..declaring..that they were threatened with a ‘subprime education’.
2. Banking and Finance.
a. Of, relating to, or designating a (usually short-term) commercial lending rate which is lower than the prime rate and typically offered only to the most desirable borrowers. Cf. prime rate n. (b) at prime adj. and adv. Compounds.This sense fell into disuse after the emergence of sense A. 2b, which is of nearly opposite meaning.
ΘΚΠ
society > trade and finance > financial dealings > moneylending > [noun] > moneylending at interest > interest > rate of interest
prime rate1815
usage1822
mortgage rate1898
savings rate1904
saving rate1905
discount rate1913
base lending rate1933
prime lending rate1951
interest-rate1959
base rate1970
minimum lending rate1972
MLR1972
prime1973
bank rate1974
LIBOR1974
subprime1976
Euribor1997
1976 Times 16 Aug. 13/7 Banks in the United States have increasingly sought to be more competitive with regard to obtaining the most credit-worthy clients and..the volume of big loans granted at sub-prime rate levels has risen.
1988 Amer. Banker (Nexis) 18 Apr. Lenders routinely extend credit to good customers at sub-prime rates.
1991 Financial Post (Canada) (Nexis) 12 Dec. 5 In a move to grab small business borrowers, Bank of Montreal yesterday announced a special sub-prime interest rate plan for loans of less than $100,000.
b. Of, relating to, or designating a loan, typically having relatively unfavourable terms, made to a borrower who does not qualify for other loans because of a poor credit history or other circumstance; (also) designating the borrower or lender of such finance. Now the most common sense.
ΘΚΠ
society > trade and finance > financial dealings > moneylending > [adjective] > types of loan
self-liquidating1851
non-recourse1905
bridging1930
tied1958
underwater1975
sovereign1977
single currency1978
roll-up1983
self-certified1989
sub-sovereign1991
subprime1993
1993 Business Wire (Nexis) 29 June CPS buys sub-prime loans made by car dealers to credit-worthy buyers unable to qualify for loans from banks and automobile finance companies, and then sells the loans to institutional investors.
1997 Guardian 21 Mar. (Jobs & Money section) 14/2 Lenders specialising in the market for loans to ‘sub-standard’, ‘impaired credit’, ‘non-conforming’ or ‘sub-prime’—all euphemisms for borrowers rated as dodgy—give mortgages to people who are turned down by banks and building societies.
1998 Time 23 Feb. 47/1 As a so-called subprime lender, Green Tree makes high-interest loans to people with damaged credit.
2009 T. Footman Noughties x. 148 Blue-chip names in the financial sector revealed that their exposure to the subprime market was far greater than they had previously let on.
B. n.
Banking (chiefly U.S.). Originally: subprime interest (cf. sense A. 2a). Now chiefly: a subprime loan (cf. sense A. 2b); (also) such loans collectively.
ΘΚΠ
society > trade and finance > financial dealings > moneylending > [noun] > loan > other loans
precarium1681
call loan1848
home loan1851
personal loan1853
short-loan1865
student loan1889
subprime1975
1975 Stevens Point (Wisconsin) Daily Jrnl. 12 Aug. 20/2 Why..was subprime offered to a municipality whose credit standing is suspect?
1996 Amer. Banker (Nexis) 9 Aug. (heading) Start of a mass retreat? BankAmerica pulls back from subprimes.
2007 Vanity Fair (N.Y.) Oct. 389/2 Smart investors began wondering how many other institutions held worthless subprime, too.
This entry has been updated (OED Third Edition, June 2012; most recently modified version published online March 2022).
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adj.n.1920
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