Changing prospects for corporate and banking credit in the United States and Europe
The Peterson Institute for International Economics debuted "Financial Statements," a new biweekly virtual event series hosted by Nicolas Véron, senior fellow at PIIE, on June 10, 2020.
The series will explore changes in the world of finance, encompassing themes of financial services regulation, corporate finance and governance, systemic fragility and crises, and structural changes driving business and policy trends in the financial sector.
This first session explored ramifications of the COVID-19 pandemic. Few corporate failures have occurred so far, but many more may be expected. Consequences could include loss of economic potential and material impact on the soundness of financial systems. The conversation focused on these and considered them through the lens of credit ratings, looking in particular at how Moody’s analysis has changed over time since the early days of the crisis.
Host: Nicolas Véron, senior fellow, PIIE, and senior fellow at Bruegel in Brussels
• Anne Van Praagh, managing director of Global Strategy and Research, Moody’s Investor Service
• David Wilcox, nonresident senior fellow, PIIE