Credit conditions
Judicial efficiency improves bank credit – Bank of Italy paper
Banks lend more freely and at lower rates in regions with swifter bankruptcy proceedings
RBNZ eases dividend restrictions
Deputy governor says NZ economy has rebounded more strongly than expected
A latent rise in r* could upend monetary policy
A rising natural rate could create serious challenges for policy-makers, write Jorma Schäublin and Philip Turner
IMF calls for ‘urgent efforts’ on non-bank macro-pru tools
Fund warns of trade-off between support now and risks in the future
ECB concerned by Hungary consumer credit plan
Draft law would give Central Bank of Hungary powers to directly issue loans for energy efficiency
Credit line exposures worsened Covid bank stock crash – NBER paper
Authors suggest “contingent leverage” could be included in stress tests
Riksbank renews Covid-19 lending facilities
Riksbank extends $60 billion facility and will penalise banks that do not lend to non-financial firms
Virus impacts consumer credit more than restrictions – Fed paper
“Pandemic itself” was main driver of credit contraction in US, not lockdowns, paper finds
Fed small business survey paints grim picture
Most small businesses report revenue declines; many fear collapse without government aid
IMF encourages Bahamas central bank to launch asset registry
Recent initiatives to manage credit have been hampered by bottlenecks, IMF report says
Eurozone banks must not delay action on credit risk – Enria
Supervisor calls on banks to use capital buffers in order to maintain adequate credit levels
Eurozone bank credit tightens despite ECB stimulus
Banks expect credit to further tighten during the first quarter of 2021
Sectoral shocks drive non-bank credit cycles – BIS paper
Authors explore interaction of bank and non-bank credit cycles
Vaccine would speed up recovery, Bank of Uganda reports
Higher levels of NPLs and high lending rates are hampering growth, report says, but vaccine could result in swift recovery
Loans to SMEs should have lower capital requirements – BdF paper
More SME lending boosts banks’ portfolio diversity and decreases systemic risk exposure, paper finds
ECB announces major boost to pandemic programmes
New TLTRO programme will offer banks financing at negative rates to maintain consumer lending
Bank of Spain paper looks at loan origination times
Loan origination data provides important insights into banking stability, researchers argue
PBoC makes $122 billion injection as default fears rise
Chinese central bank makes year’s largest market injection days after large power firm defaults
RBNZ launches funding for lending programme
Central bank avoids taking rates negative but says the policy remains an option
BIS paper pins down causal impact of capital flows
Study based on confidential BIS data finds capital controls can help prevent overheating
World’s biggest IPO suspended after PBoC intervenes
Ant Group market debut suspended after Chinese authorities interview Jack Ma
Paper offers method for evaluating machine learning models
Bank of Spain paper looks at cost and benefits of ML models for predicting credit defaults
Eurozone credit tightened in Q3
Worsening economic outlook boosts borrowers’ credit risk, says the ECB
Global dollar liquidity ‘robust’ in face of Covid-19 – BIS data
Dollar credit to emerging markets passes $4 trillion mark as lending to non-banks rises