The Pandemic'S Impact on Credit Risk: Averted or Delayed?
Posted: 18 Aug 2021 Last revised: 3 Sep 2021
Date Written: July, 2021
Abstract
The COVID-19 recession resulted in historic unemployment and a significant shock to much of the service sector. Despite these macroeconomic challenges, banks' risk-based capital buffers remain high and the number of bank failures remains low. Government relief programs, including the Coronavirus Aid, Relief, and Economic Security (CARES) Act, both directly and indirectly helped stabilize bank balance sheets during the crisis.
Suggested Citation: Suggested Citation
Byun, Sung Je and Game, Aaron L. and Jiron, Alexander and Kapinos, Pavel and Klemme, Kelly and Loudis, Bert, The Pandemic'S Impact on Credit Risk: Averted or Delayed? (July, 2021). FEDS Notes No. 2021-07-30-3, Available at SSRN: https://ssrn.com/abstract=3906388 or http://dx.doi.org/10.17016/2380-7172.2957
Alexander Jiron
Board of Governors of the Federal Reserve System ( email )
20th Street and Constitution Avenue NW
Washington, DC 20551
United States
Bert Loudis
Board of Governors of the Federal Reserve System ( email )
20th Street and Constitution Avenue NW
Washington, DC 20551
United States
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