Jiang, Erica Xuewei; Matvos, Gregor; Piskorski, Tomasz; … - National Bureau of Economic Research - 2023
about quarter of assets for an average bank and about $2.7 trillion of bank assets in the aggregate. Using loan-level data … close to what one saw in the Great Recession on the lower end -- would result in about $80 ($160) billion of additional bank … losses. If CRE loan distress would manifest itself early in 2022 when interest rates were low, not a single bank would fail …