Stress tests uncovered new data on large banks – ECB paper
Market reactions differed in 2014 and 2016, researchers say
Information revealed by the European stress tests of 2014 and 2016 affected the market pricing of financial instruments linked to commercial banks, as well as some sovereign bonds, argues a working paper published by the European Central Bank (ECB).
In Do stress tests matter? Evidence from the 2014 and 2016 stress tests, the authors look at the market reaction of events connected to the two sets of stress tests.
They connect two sets of events connected to the stress tests – the announcement
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