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March madness in Wall Street : (what) does the market learn from stress tests? /
Annual stress tests have become a regular part of the supervisors' toolkit following the global financial crisis. We investigate their capital market implications in the United States by looking at price and trade reactions, information asymmetry and uncertainty indicators, and bank activities....
| Clasificación: | Libro Electrónico |
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| Autores principales: | , , |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
©2015.
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| Colección: | IMF working paper ;
WP/15/271. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | Annual stress tests have become a regular part of the supervisors' toolkit following the global financial crisis. We investigate their capital market implications in the United States by looking at price and trade reactions, information asymmetry and uncertainty indicators, and bank activities. The evidence we present supports the notion that there is important new information in stress tests, especially at times of financial distress. Moreover, public disclosure seems to help reduce informational asymmetries. Importantly, public disclosure of stress test results (and methodology) does not seem to have reduced private incentives to generate information or to have led to distorted incentives.--Abstract. |
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| Notas: | "December 2015." "Research Department." |
| Descripción Física: | 1 online resource (34 pages) : color illustrations. |
| Bibliografía: | Includes bibliographical references (pages 20-21). |
| ISBN: | 1513524968 9781513524962 1513537407 9781513537405 |
| ISSN: | 1018-5941 |