crisis. In particular, it evaluates the extent to which firms may run into a liquidity crisis following the COVID-19 outbreak … face liquidity shortfalls after 10 months since the implementation of confinement measures. Comparing the impact of … relieve wage bills is the most effective tool to reduce liquidity shortages, followed by debt moratorium policies. Finally …

due to new liquidity requirements. The transition to this situation will be lengthy and will require a mixture of … liquidity draining instruments. Alternatively, they could adopt a floor system, which may benefit financial stability. The use …