March madness in Wall Street : (what) does the market learn from stress tests? / prepared by Marcelo Fernandes, Deniz Igan, and Marcelo Pinheiro.

By:

Fernandes, Marcelo [author.]

Contributor(s):

Material type: Text

text

Media type:

computer

Carrier type:

online resource

ISBN:

1513524968
9781513524962
1513537407
9781513537405

ISSN:

1018-5941

Subject(s): Genre/Form:

Electronic books.

DDC classification:

332.152 23

LOC classification:

HG3881.5.I58 W67 No. 15/271eb

Online resources:

Click here to access online

Summary: 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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Item type	Home library	Collection	Call number	Materials specified	Status	Date due	Barcode
Electronic-Books	OPJGU Sonepat- Campus	E-Books EBSCO			Available

"December 2015."

"Research Department."

Includes bibliographical references (pages 20-21).

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.

Online resource; title from pdf title page (IMF.org Web site, viewed February 2, 2016).

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