The Covid-19 health crisis has dramatically affected just about every aspect of the economy, including the transition from a record long benign credit cycle to a stressed one, with still uncertain dimensions. This paper seeks to assess the credit climate from just before the unexpected global health crisis catalyst to its immediate and extended impact.
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The link between default and recovery rates: effects on the procyclicality of regulatory capital ratios
BIS Working Papers are written by members of the Monetary and Economic Department of the Bank for International Settlements, and [...]
