a trade-off between the contagion risk, in the sense that this instrument may push some member states to default even … though they are individually solvent, and cheaper access to credit on average, since lenders are at risk only if no …

This paper analyzes bank stock prices around the world to assess the impact of the COVID-19 pandemic on the banking … policy announcements on the performance of bank stocks. Overall, the results suggest that the crisis and the countercyclical … lending role that banks are expected to play have put banking systems under significant stress, with bank stocks …

arrangements. Firms that participate in the formal financial sector are also subject to higher levels of risk and uncertainty. As …