Banking sector performance during the COVID-19 crisis

This paper examines the impact of financial sector policy announcements on bank stocks around the world during the onset of the COVID-19 crisis. Overall, we find that liquidity support, borrower assistance programs and monetary easing moderated the adverse impact from the crisis, but their impact va...

Descripción completa

Detalles Bibliográficos
Autores principales: Demirgüç-Kunt, Asli, Pedraza, Alvaro, Ruiz-Ortega, Claudia
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Published by Elsevier B.V. 2021
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8446780/
https://www.ncbi.nlm.nih.gov/pubmed/34548747
http://dx.doi.org/10.1016/j.jbankfin.2021.106305
Descripción
Sumario:This paper examines the impact of financial sector policy announcements on bank stocks around the world during the onset of the COVID-19 crisis. Overall, we find that liquidity support, borrower assistance programs and monetary easing moderated the adverse impact from the crisis, but their impact varied considerably across banks and countries. By contrast, countercyclical prudential measures led to negative abnormal returns in bank stocks, suggesting that markets price the downside risks associated with these policies.

Ejemplares similares