The COVID-19 crisis has significantly impacted firms’ economic and financial performance. Thus, the Central Balance Sheet Data Office Quarterly Survey evidences that in 2020 the ordinary earnings and average profitability of the firms of this sample fell sharply. While profitability worsened...

The latest Bank Lending Survey results show a widespread contraction of credit supply both in Spain and in the euro area in 2020 Q3, which would be linked to increased risk perception. On the demand side, demand from firms fell in both Spain and the euro area following the marked increase...

According to the Bank Lending Survey, during 2020 Q4, both in Spain and in the euro area there was a slight contraction in the credit supply, linked to banks’ higher risk perceptions, against a background of a worsening economic outlook, which was also reflected in lower demand for loans....

Artículo de revista ; La irrupción de la pandemia provocada por el Covid-19 ha originado una recesión económica sin precedentes a escala mundial, que ha llevado a las agencias de rating a aumentar las rebajas de calificación crediticia. Este proceso podría prolongarse durante los próximos...

Artículo de revista ; A consequence of the outbreak of the pandemic triggered by COVID-19 is the unprecedented global economic recession that has led rating agencies to increase their credit rating downgrades. This process could continue in the coming months if the unfolding of the pandemic...

Tras el estallido de la pandemia del COVID-19, las autoridades económicas en muchos países desplegaron medidas de apoyo a la liquidez y a la solvencia de las empresas. En este artículo se analizan los efectos que tuvieron dos medidas implementadas por las autoridades españolas: el programa...

Tras el estallido de la pandemia del COVID-19, las autoridades económicas en muchos países desplegaron medidas de apoyo a la liquidez y a la solvencia de las empresas. En este artículo se analizan los efectos que tuvieron dos medidas implementadas por las autoridades españolas: el programa...

El presente documento estudia el acceso al crédito y la propensión a salir del mercado de las empresas sin deuda bancaria (la principal fuente de financiación de las empresas españolas no cotizadas) en torno a la crisis del COVID-19. La metodología implementada permite distinguir entre...

The COVID-19 pandemic has significantly altered the financing of the non-financial private sector. Financing of the self-employed and businesses has risen as a consequence of both the increase in demand, stemming from greater liquidity needs and from the perceived increase in refinancing risks,...