중남미
연구정보
[경제] Usability of Bank Capital Buffers: The Role of Market Expectations
브라질 국외연구자료 연구보고서 - IMF 발간일 : 2022-01-28 등록일 : 2022-09-14 원문링크
Following the COVID shock, supervisors encouraged banks to use capital buffers to support the recovery. However, banks have been reluctant to do so. Provided the market expects a bank to rebuild its buffers, any draw-down will open up a capital shortfall that will weigh on its share price. Therefore, a bank will only decide to use its buffers if the value creation from a larger loan book offsets the costs associated with a capital shortfall. Using market expectations, we calibrate a framework for assessing the usability of buffers. Our results suggest that the cases in which the use of buffers make economic sense are rare in practice.
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