credit crunch

credit crunch (when borrowing money (from banks) becomes harder to get and more expensive) — кредитный кризис; ограничение кредитования.

Example 1: When poor or subprime homeowners in the US started defaulting on their mortgages, this meant that the bonds which were linked to this home loans were worth almost anything. Thus the birth of the credit crunch and the looming recession worldwide (

It was once an arcane term only known to economists, but the phrase "credit crunch" has been so widely used over the past year that it has been added to the latest edition of the Oxford English Dictionary (