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Tag Archives: Credit support

When and how to unwind COVID support measures to the banking system?

Study of regulatory measures and supervisory practices that have supported public guarantee schemes and moratoria in euro-area countries prepared for the ECON committee of the European Parliament. By: Alexander Lehmann Date: March 9, 2021 Topic: European Macroeconomics & Governance This paper was prepared for the European Parliament’s Committee on Economic and Monetary Affairs (ECON). This in-depth analysis is available on the European Parliament’s online database,...

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So long credit support?

COVID-19 has caused unprecedented disruption to business. Since the first lockdowns, governments have used credit support programmes as the main instrument to mitigate the liquidity shock businesses have been facing. Have the programmes worked? Bruegel Director Guntram Wolff is joined by Bruegel’s very own Julia Anderson, Francesco Papadia and Nicolas Véron to talk about their research into credit support programmes in Europe’s five largest economies. They  share their findings with...

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Government-guaranteed bank lending six months on

In March and April 2020, European governments announced massive credit support programmes. After an initial surge, take-up appears to be stabilising (with a lag in Italy), despite second wave shocks in some countries. More recent data confirms that fiscal capacity has not visibly constrained national governments in the support they have provided so far. Credit-support measures, such as loan guarantees, have been one of the main tools to soften the economic blow of COVID-19. Early in the...

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