<P> A February 2009 study on the main British insurers showed that most of them do not plan to raise their insurance premiums for the year 2009, in spite of the prediction of a 20% raise made by The Daily Telegraph and The Daily Mirror . However, it is expected that the capital liquidity will become an issue and determine increases, having their capital tied up in investments yielding smaller dividends, corroborated with the £ 644 million underwriting losses suffered in 2007 . </P> <P> New York Times reported that the U.S. Treasury Department found a sizeable decrease in small - business lending by the 22 largest bank recipients of federal bailout money . The banks reduced their small - business lending by US $12.5 billion, a decline of 4.6 percent during a seven - month period ended in November 2009 . During that time, the two biggest small - business lenders, Wells Fargo and Bank of America reduced their lending to small - business by 4.4 percent and 6.2 percent, respectively . Bank of America explained that about half of the decline was attributable to decrease demand, and a decline in sales and creditworthiness among small businesses furthered the drop . </P> <P> The crisis affected all countries in some ways, but certain countries were vastly affected more than others . By measuring currency devaluation, equity market decline, and the rise in sovereign bond spreads, a picture of financial devastation emerges . Since these three indicators show financial weakness, taken together, they capture the impact of the crisis . The Carnegie Endowment for International Peace reports in its International Economics Bulletin that Ukraine, as well as Argentina and Jamaica, are the countries most deeply affected by the crisis . Other severely affected countries are Ireland, Russia, Mexico, Hungary, the Baltic states, United States and United Kingdom . By contrast, China, Japan, Brazil, India, Iran, Peru and Australia are "among the least affected ." </P> <Table> <Tr> <Td> </Td> <Td> This section's representation of one or more viewpoints about a controversial issue may be unbalanced or inaccurate . Please improve the article or discuss the issue on the talk page . (March 2010) </Td> </Tr> </Table>

How did the us recession affect the global economy
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