
The Next Macro-Financial Risk: Credit Tightening Is Not a Crisis
Dominique Dwor-Frecaut
Summary In this note, I show that the data does not validate fears of systemic credit weaknesses: Large businesses are in good financial shape, in part due to record profits. By contrast SMEs and low-income households are struggling, which is reflected by rising delinquency rates in specific loan segments. Banks, however, have managed their risk […]