contract their balance sheets. These bank responses generate externalities that propagate in the form of macro … macro-financial feedback loops can significantly affect macroeconomic outcomes and bank-specific stress tests results. The … heterogeneity in bank lending responses matters: it determines how each bank fares under adverse conditions and the external effects …

additional bank capital needs could be large. The paper concludes discussing uses of the mapping beyond PD valuation suitable for …

find that a large share of publicly-listed firms become vulnerable as a result of the pandemic shock and additional … the impact of the shock in the near term. Looking forward, while interest coverage ratios tend to improve over time after … the initial shock as earnings recover in line with projected macroeconomic conditions, liquidity needs remain substantial …

Community-Kenya, Tanzania, and Uganda-against the backdrop of recent financial sector reforms. Focusing on the behavior of …

: Kenya, Tanzania, Uganda and Rwanda …