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| Type | Scientific Publication In Electronic Form |
| Scope | Discipline-based scholarship |
| Title | The disciplining effect of supervisory scrutiny in the EU-wide stress test |
| Organization Unit | |
| Authors |
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| Language |
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| Place of Publication | London |
| Publisher | VoxEU, CEPR Policy Portal |
| Date | 2021 |
| Abstract Text | Since the financial crisis, stress tests have become an important supervisory and financial stability tool. Relying on confidential data available at the ECB, this column presents novel evidence that supervisory scrutiny associated with stress testing has a disciplining effect on bank risk. Banks that participated in the 2016 EU-wide stress test subsequently reduced their credit risk relative to banks that were not part of this exercise. Relying on new metrics for supervisory scrutiny, it also shows that the disciplining effect is stronger for banks subject to more intrusive supervisory scrutiny during the stress test. |
| Free access at | Official URL |
| Official URL | https://voxeu.org/article/disciplining-effect-supervisory-scrutiny-eu-wide-stress-test |
| Related URLs | |
| Other Identification Number | merlin-id:21123 |
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