[20200910]IN11501_2019冠状病毒疾病对银行业的影响：衰退与银行困境之间的滞后.pdf

CRS INSIGHT Prepared for Members and Committees of Congress INSIGHTINSIGHTi i COVID-19 Impact on the Banking Industry: Lag Between Recession and Bank Distress September 10, 2020 Economic recessions and financial crises can cause distress in the banking industry. Typically, there is a lag between the onset of a recession and the peak of bank industry distress. The economic effects of the Coronavirus Disease 2019 (COVID-19) pandemic could similarly stress the banking industry, perhaps acutely, given the sudden and unprecedented nature of the economic contraction. Even though this contraction is severe, a lag is expected, and certain provisions in the Coronavirus Aid, Relief, and Economic Recovery Act (CARES Act; P.L. 116-136) may lengthen it. Typical Lags When people lose jobs or businesses revenue declines, many individuals and businesses have resources to continue making loan payments for a time. For example, U.S. households and nonprofit organizations held almost $11.4 trillion in cash and bank accounts and another $2.6 trillion in money market mutual funds (an instrument similar to a bank account) at the end of 2019. U.S. nonfinancial businesses held almost $3.5 trillion in cash