Surprised or Not Surprised? The Investors’ Reaction to the Comprehensive Assessment Preceding the Launch of the Banking Union

Surprised or Not Surprised? The Investors’ Reaction to the Comprehensive Assessment Preceding the Launch of the Banking Union

Surprised or Not Surprised? The Investors’ Reaction to the Comprehensive Assessment Preceding the Launch of the Banking Union

Did the Comprehensive Assessment (CA), preceding the Single Supervisory Mechanism’s launch in Europe, achieve its aims of producing new valuable information for the market? We show that the CA achieved the goal of increasing transparency: investors were able to detect weak banks at the announcement of the procedure (23 October 2013), but gained full information on the amount of the capital…

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