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Should Banks' Stress Test Results be Disclosed? An Analysis of the Costs and Benefits

Citations

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Cited by:

  1. Maria Rosa Borges & José Zorro Mendes & André Pereira, 2019. "The Value of Information: The Impact of European Union Bank Stress Tests on Stock Markets," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 25(4), pages 429-444, November.
  2. Chakravarty, Surajeet & Choo, Lawrence & Fonseca, Miguel A. & Kaplan, Todd R., 2021. "Should regulators always be transparent? a bank run experiment," European Economic Review, Elsevier, vol. 136(C).
  3. Berger, Allen N. & Demirgüç-Kunt, Asli, 2021. "Banking research in the time of COVID-19," Journal of Financial Stability, Elsevier, vol. 57(C).
  4. Tirupam Goel & Isha Agarwal, 2021. "Limits of stress-test based bank regulation," BIS Working Papers 953, Bank for International Settlements.
  5. Beverly Hirtle & Anna Kovner, 2022. "Bank Supervision," Annual Review of Financial Economics, Annual Reviews, vol. 14(1), pages 39-56, November.
  6. Goncharenko, Roman & Hledik, Juraj & Pinto, Roberto, 2018. "The dark side of stress tests: Negative effects of information disclosure," Journal of Financial Stability, Elsevier, vol. 37(C), pages 49-59.
  7. Sharon Peleg†Lazar & Alon Raviv, 2017. "Bank Risk Dynamics Where Assets are Risky Debt Claims," European Financial Management, European Financial Management Association, vol. 23(1), pages 3-31, January.
  8. Flannery, Mark & Hirtle, Beverly & Kovner, Anna, 2017. "Evaluating the information in the federal reserve stress tests," Journal of Financial Intermediation, Elsevier, vol. 29(C), pages 1-18.
  9. Hilscher, Jens & Raviv, Alon & Wiener, Zvi, 2024. "Dynamic volatility regulation of financial institutions," Finance Research Letters, Elsevier, vol. 61(C).
  10. Fernandes, Marcelo & Igan, Deniz & Pinheiro, Marcelo, 2020. "March madness in Wall Street: (What) does the market learn from stress tests?," Journal of Banking & Finance, Elsevier, vol. 112(C).
  11. Heller, Yuval & Peleg Lazar, Sharon & Raviv, Alon, 2022. "Banks’ risk taking and creditors’ bargaining power," Journal of Corporate Finance, Elsevier, vol. 74(C).
  12. Anya Kleymenova & Rimmy E. Tomy, 2022. "Observing Enforcement: Evidence from Banking," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 60(4), pages 1583-1633, September.
  13. Miguel Faria-e-Castro & Joseba Martinez & Thomas Philippon, 2017. "Runs versus Lemons: Information Disclosure and Fiscal Capacity," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 84(4), pages 1683-1707.
  14. Shahhosseini, Mehrnoush, 2022. "Capital requirements and banks’ behavior: Evidence from bank stress tests," The Quarterly Review of Economics and Finance, Elsevier, vol. 86(C), pages 240-262.
  15. König-Kersting, Christian & Trautmann, Stefan T. & Vlahu, Razvan, 2022. "Bank instability: Interbank linkages and the role of disclosure," Journal of Banking & Finance, Elsevier, vol. 134(C).
  16. D. Georgoutsos & G. Moratis, 2021. "On the informative value of the EU-wide stress tests and the determinants of banks’ stock return reactions," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 48(4), pages 977-1008, November.
  17. Lukas Ahnert & Pascal Vogt & Volker Vonhoff & Florian Weigert, 2018. "The Impact of Regulatory Stress Testing on Bank's Equity and CDS Performance," Working Papers on Finance 1814, University of St. Gallen, School of Finance.
  18. Chen, Qi & Goldstein, Itay & Huang, Zeqiong & Vashishtha, Rahul, 2022. "Bank transparency and deposit flows," Journal of Financial Economics, Elsevier, vol. 146(2), pages 475-501.
  19. Wang, Yonghai & Wang, Gaomiao, 2025. "Risk management disclosure and risk premia of commercial banks in China: evidence from global systemic importance assessment indicators," Global Finance Journal, Elsevier, vol. 67(C).
  20. repec:ecb:ecbdps:20199 is not listed on IDEAS
  21. Jondeau, Eric & Khalilzadeh, Amir, 2022. "Predicting the stressed expected loss of large U.S. banks," Journal of Banking & Finance, Elsevier, vol. 134(C).
  22. Alba Ruiz-Buforn & Simone Alfarano & Eva Camacho-Cuena & Andrea Morone, 2022. "Single vs. multiple disclosures in an experimental asset market with information acquisition," The European Journal of Finance, Taylor & Francis Journals, vol. 28(13-15), pages 1513-1539, October.
  23. Trang H. Dao & Amedeo Pugliese & Joshua Ronen, 2023. "Assessing banks’ resilience: A complementary approach to stress testing using fair values from banks’ financial statements," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 50(7-8), pages 1206-1239, July.
  24. Lukas Ahnert & Pascal Vogt & Volker Vonhoff & Florian Weigert, 2020. "Regulatory stress testing and bank performance," European Financial Management, European Financial Management Association, vol. 26(5), pages 1449-1488, November.
  25. Thomas Philippon & Pierre Pessarossi & Boubacar Camara, 2017. "Backtesting European Stress Tests," NBER Working Papers 23083, National Bureau of Economic Research, Inc.
  26. Brož, Václav & Teplý, Petr, 2025. "From collapse to contagion: How bank failures influence stock markets," The North American Journal of Economics and Finance, Elsevier, vol. 79(C).
  27. Ampudia, Miguel & Beck, Thorsten & Beyer, Andreas & Colliard, Jean-Edouard & Leonello, Agnese & Maddaloni, Angela & Marqués-Ibáñez, David, 2019. "The architecture of supervision," Working Paper Series 2287, European Central Bank.
  28. Umi Widyastuti & Erie Febrian & Sutisna & Tettet Fitrijanti, 2019. "Factors Explaining the Market Discipline of Sharia Mutual Funds from a Behavioural Finance Perspective: A Theoretical Approach," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(3), pages 198-212.
  29. Viral V. Acharya & Stephen G. Ryan, 2016. "Banks’ Financial Reporting and Financial System Stability," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 54(2), pages 277-340, May.
  30. Joohyung Ha, 2021. "Bank accounting conservatism and bank loan quality," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 48(3-4), pages 498-532, March.
  31. Carré, Sylvain, 2022. "Disclosures, rollover risk, and debt runs," Journal of Banking & Finance, Elsevier, vol. 142(C).
  32. Tantri, Prasanna & Vishen, Nitin, 2025. "Does transparency about banks’ lending costs lower firms’ borrowing costs? Evidence from India," Journal of Accounting and Economics, Elsevier, vol. 79(2).
  33. Hakenes, Hendrik & Bigus, Jochen, 2014. "Does Relationship Lending Require Opaque (and Conservative) Financial Reporting?," CEPR Discussion Papers 9934, C.E.P.R. Discussion Papers.
  34. Roman Goncharenko & Asad Rauf, 2024. "Still "Too Much, Too Late": Provisioning for Expected Loan Losses," International Journal of Central Banking, International Journal of Central Banking, vol. 20(4), pages 415-474, October.
  35. Alonso, Ricardo & Zachariadis, Konstantinos E., 2024. "Persuading large investors," Journal of Economic Theory, Elsevier, vol. 222(C).
  36. Moreno, Diego & Takalo, Tuomas, 2021. "Precision of public information disclosures, banks' stability and welfare," Bank of Finland Research Discussion Papers 3/2021, Bank of Finland.
  37. Liang Dai & Dan Luo & Ming Yang, 2024. "Disclosure of Bank-Specific Information and the Stability of Financial Systems," The Review of Financial Studies, Society for Financial Studies, vol. 37(4), pages 1315-1367.
  38. Thomas Bourveau & Guoman She & Alminas Žaldokas, 2020. "Corporate Disclosure as a Tacit Coordination Mechanism: Evidence from Cartel Enforcement Regulations," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 58(2), pages 295-332, May.
  39. Andrew Hertzberg, 2018. "A Theory of Disclosure in Speculative Markets," Management Science, INFORMS, vol. 64(12), pages 5787-5806, December.
  40. Pacicco, Fausto & Vena, Luigi & Venegoni, Andrea, 2020. "Communication and financial supervision: How does disclosure affect market stability?," Journal of Empirical Finance, Elsevier, vol. 57(C), pages 1-15.
  41. Ferretti, Riccardo & Venturelli, Valeria & Azzaretto, Alessandro, 2023. "Does individual SREP results reveal real news?," Finance Research Letters, Elsevier, vol. 57(C).
  42. Ding, Haina & Guembel, Alexander & Ozanne, Alessio, 2020. "Market Information in Banking Supervision: The Role of Stress Test Design," TSE Working Papers 20-1144, Toulouse School of Economics (TSE).
  43. Karel Janda & Oleg Kravtsov, 2022. "Regulatory Stress Tests and Bank Responses: Heterogeneous Treatment Effect in Dynamic Settings," International Journal of Central Banking, International Journal of Central Banking, vol. 18(2), pages 1-49, June.
  44. Joel Shapiro & Jing Zeng, 2024. "Stress Testing and Bank Lending," The Review of Financial Studies, Society for Financial Studies, vol. 37(4), pages 1265-1314.
  45. Karthik Balakrishnan & Aytekin Ertan, 2019. "Bank asset transparency and credit supply," Review of Accounting Studies, Springer, vol. 24(4), pages 1359-1391, December.
  46. Bhusan, Soumik & Dayanandan, Ajit & Naresh, G., 2024. "Mandatory disclosure and bank earnings management in India," Emerging Markets Review, Elsevier, vol. 62(C).
  47. Alvarez, Fernando & Barlevy, Gadi, 2021. "Mandatory disclosure and financial contagion," Journal of Economic Theory, Elsevier, vol. 194(C).
  48. Sahin, Cenkhan & de Haan, Jakob & Neretina, Ekaterina, 2020. "Banking stress test effects on returns and risks," Journal of Banking & Finance, Elsevier, vol. 117(C).
  49. Roman Horvath, 2020. "Peer Effects in Central Banking," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(4), pages 764-814, December.
  50. Gu, Jiadong, 2023. "Optimal stress tests and liquidation cost," Journal of Economic Dynamics and Control, Elsevier, vol. 146(C).
  51. Puriya Abbassi & Rajkamal Iyer & José-Luis Peydró & Paul E. Soto, 2025. "Stressed Banks? Evidence from the Largest-Ever Supervisory Review," Management Science, INFORMS, vol. 71(10), pages 8390-8412, October.
  52. Peleg Lazar, Sharon & Raviv, Alon, 2019. "The risk spiral: The effects of bank capital and diversification on risk taking," International Review of Financial Analysis, Elsevier, vol. 65(C).
  53. Nguyen, Thach Vu Hong & Ahmed, Shamim & Chevapatrakul, Thanaset & Onali, Enrico, 2020. "Do stress tests affect bank liquidity creation?," Journal of Corporate Finance, Elsevier, vol. 64(C).
  54. Carboni, Marika & Fiordelisi, Franco & Ricci, Ornella & Lopes, Francesco Saverio Stentella, 2017. "Surprised or not surprised? The investors’ reaction to the comprehensive assessment preceding the launch of the banking union," Journal of Banking & Finance, Elsevier, vol. 74(C), pages 122-132.
  55. Van dan Dang, 2022. "Financial reporting and bank development: Evidence from Vietnam," Economics Bulletin, AccessEcon, vol. 42(3), pages 1688-1705.
  56. Avdjiev, Stefan & Jager, Maximilian, 2022. "Bank opacity - patterns and implications," CEPR Discussion Papers 17024, C.E.P.R. Discussion Papers.
  57. Durrani, Agha & Ongena, Steven & Ponte Marques, Aurea, 2024. "Decoding market reactions: The certification role of EU-wide stress tests," Economic Modelling, Elsevier, vol. 139(C).
  58. Lucas Mahieux & Haresh Sapra & Gaoqing Zhang, 2023. "CECL: Timely Loan Loss Provisioning and Bank Regulation," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 61(1), pages 3-46, March.
  59. Cecilia Parlatore & Thomas Philippon, 2025. "Designing Stress Scenarios," Journal of Finance, American Finance Association, vol. 80(2), pages 833-873, April.
  60. Destan Kirimhan & Saban Nazlioglu & James E. Payne, 2024. "Are stress‐tested banks in the United States becoming similar? Evidence from convergence tests," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 47(1), pages 61-88, March.
  61. João Granja, 2018. "Disclosure Regulation in the Commercial Banking Industry: Lessons from the National Banking Era," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 56(1), pages 173-216, March.
  62. Durrani, Agha & Ongena, Steven & Ponte Marques, Aurea, 2022. "The certification role of the EU-wide stress testing exercises in the stock market. What can we learn from the stress tests (2014-2021)?," Working Paper Series 2711, European Central Bank.
  63. Guerrieri, Luca & Modugno, Michele, 2024. "The information content of stress test announcements," Journal of Banking & Finance, Elsevier, vol. 160(C).
  64. Jinzhi Lu, 2022. "Limited Attention: Implications for Financial Reporting," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 60(5), pages 1991-2027, December.
  65. Yaron Leitner & Basil Williams, 2023. "Model Secrecy and Stress Tests," Journal of Finance, American Finance Association, vol. 78(2), pages 1055-1095, April.
  66. Ryuichiro Izumi, 2021. "Opacity: Insurance and Fragility," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 40, pages 146-169, April.
  67. Cristina Gutiérrez-López & Julio Abad-González, 2020. "Sustainability in the Banking Sector: A Predictive Model for the European Banking Union in the Aftermath of the Financial Crisis," Sustainability, MDPI, vol. 12(6), pages 1-25, March.
  68. König, Philipp Johann & Laux, Christian & Pothier, David, 2021. "The leverage effect of bank disclosures," Discussion Papers 31/2021, Deutsche Bundesbank.
  69. Ahnert, Toni & Martinez-Miera, David, 2021. "Bank Runs, Bank Competition and Opacity," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242348, Verein für Socialpolitik / German Economic Association.
  70. Yaron Leitner, 2014. "Should regulators reveal information about banks?," Business Review, Federal Reserve Bank of Philadelphia, issue Q3, pages 1-8.
  71. Bischof, Jannis & Laux, Christian & Leuz, Christian, 2021. "Accounting for financial stability: Bank disclosure and loss recognition in the financial crisis," Journal of Financial Economics, Elsevier, vol. 141(3), pages 1188-1217.
  72. Inostroza, Nicolas A. & Pavan, Alessandro, 2025. "Adversarial coordination and public information design," Theoretical Economics, Econometric Society, vol. 20(2), May.
  73. Zhao, Shuo, 2024. "Essays on banking regulations," Other publications TiSEM 20e6957b-9a5a-4e65-a081-8, Tilburg University, School of Economics and Management.
  74. Bischof, Jannis & Laux, Christian & Leuz, Christian, 2020. "Accounting for financial stability: Lessons from the financial crisis and future challenges," SAFE Working Paper Series 283, Leibniz Institute for Financial Research SAFE.
  75. Brunella Bruno & Immacolata Marino & Giacomo Nocera, 2020. "Internal Ratings, Non-Performing Loans, and Bank Opacity: Evidence from Analysts’ Forecasts," CSEF Working Papers 576, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 25 Jan 2023.
  76. SingRu Hoe & Srinivas Nippani & John David Diltz, 2017. "Should CAMELS ratings be publicly disclosed?," Economics Bulletin, AccessEcon, vol. 37(3), pages 1567-1572.
  77. Moreno, Diego & Takalo, Tuomas, 2021. "Precision of Public Information Disclosures, Banks’ Stability and Welfare," Research Discussion Papers 3/2021, Bank of Finland.
  78. Stefan Nagel & Amiyatosh Purnanandam, 2020. "Banks’ Risk Dynamics and Distance to Default," The Review of Financial Studies, Society for Financial Studies, vol. 33(6), pages 2421-2467.
  79. Yaron Leitner & Basil Williams, 2018. "Model Secrecy and Stress Tests," 2018 Meeting Papers 566, Society for Economic Dynamics.
  80. Henry L. Friedman & Mirko S. Heinle, 2020. "Influence Activities, Coalitions, and Uniform Policies: Implications for the Regulation of Financial Institutions," Management Science, INFORMS, vol. 66(9), pages 4336-4358, September.
  81. Michal Kowalik, 2016. "Opacity and Disclosure in Short-Term Wholesale Funding Markets," Supervisory Research and Analysis Working Papers RPA 16-2, Federal Reserve Bank of Boston.
  82. König-Kersting, Christian & Trautmann, Stefan T. & Vlahu, Razvan, 2022. "Bank instability: Interbank linkages and the role of disclosure," Journal of Banking & Finance, Elsevier, vol. 134(C).
  83. Clemens A. Otto & Paolo F. Volpin, 2018. "Marking to Market and Inefficient Investment Decisions," Management Science, INFORMS, vol. 64(8), pages 3756-3771, August.
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  93. Abad, Pilar & Robles, M.-Dolores & Alonso Orts, Carlos, 2023. "Stress testing programs and credit risk opacity of banks: USA vs Europe," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 89(C).
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  95. Moustapha Daouda Dala & Isabelle Distinguin & Alain Sauviat, 2020. "What is the information value of bank's stress tests? An investigation using banks' bond split ratings," Economics Bulletin, AccessEcon, vol. 40(1), pages 485-499.
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