Financial Stability Report 43
OeNB
- Erschienen:
- Juni 2022
OeNB
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Studien und Analysen
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Financial Stability Report 43 im Überblick (German only) (PDF, 255 kB) de 15.06.2022, 00:00:00
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Management summary (PDF, 165 kB) en 15.06.2022, 00:00:00
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International macroeconomic environment: war in Ukraine endangers global recovery amid high uncertainty and surging inflation (PDF, 1,1 MB) en 15.06.2022, 00:00:00
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Companies and households in Austria were recovering from the pandemic in 2021 (PDF, 880 kB) en 15.06.2022, 00:00:00
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Austrian financial intermediaries benefited from improved environment in 2021 (PDF, 1,3 MB) en 15.06.2022, 00:00:00
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Nontechnical summaries in English (PDF, 147 kB) en 15.06.2022, 00:00:00
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Nontechnical summaries in German (PDF, 147 kB) de 15.06.2022, 00:00:00
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Changes in banks’ rating assignments in response to the COVID-19 pandemic (PDF, 1,2 MB) Barmeier, Haller. In this study, we investigate how banks in Austria have reacted to the COVID-19 pandemic in their assignment of ratings to nonfinancial corporations. Relying on public information on beneficiaries of COVID-19 support measures, we focus in particular on changes in ratings of debtors that received state aid, e.g. in the form of public guarantees and direct grants. In the first waves of the pandemic, the overall rating structure of nonfinancial corporate exposures deteriorated, but since the second half of 2021, the rating structure has improved. We see that already before the pandemic, debtors that later received COVID-19 support were of lower creditworthiness than the nonfinancial sector average. Also, these debtors were affected to a greater extent by increases in the probability of default (PD) and rating downgrades. en financial stability, credit risk management, internal credit ratings, COVID-19 pandemic G18, G21 15.06.2022, 00:00:00
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Annex: Key financial indicators (PDF, 354 kB) en 15.06.2022, 00:00:00
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Annex: Key financial indicators (XLSX, 92 kB) en 15.06.2022, 00:00:00
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