Banks temper credit loss models by editing Covid narrative

Many will wish they could rewrite recent history and edit Covid out of the picture. And, in a roundabout way, that’s what some banks are doing with the Covid narrative around their credit risk models.

At the start of the pandemic, bank models, unsurprisingly, began to predict major losses. Contrary to its general toll on humanity, however, the economic after-effects of Covid were not as disastrous as anticipated – largely because of the high degree of government intervention in the world’s

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