The bank tightened the issuance standards for subprime loans.
Tips
usage
Often shortened to 次贷 (cìdài, 'subprime'). The 2007–2008 crisis is referred to in Chinese press as 次贷危机 (cìdài wēijī, 'subprime crisis').
memory
次级 (cìjí) literally means 'second-tier / lower-grade' — i.e. lent to borrowers below prime credit. Pair this with 优质 (yōuzhì, 'prime / high-quality') for the opposite end of the spectrum.
