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