20211109_LargeModelST
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Plain vanilla design and scenario sensitivity<br />
Lending to the non-financial private sector y-o-y<br />
GDP y-o-y<br />
Legend: The impact of plain vanilla (original Basel standards) implementation in the pre-Covid macroeconomic scenario starting in 2020 (bars), in the Covid scenario starting in 2020 (dots) and<br />
starting in 2023 (triangles).<br />
Source: Budnik et a (2021) Macroeconomic impact of Basel III finalisation in the euro area<br />
• Contained costs of the introduction of Basel III implementation under pre-Covid-19 scenario<br />
• Higher costs of the package under Covid-19 scenario, however the introduction of the Basel III<br />
implementation in 2023 can be better approximated by the pre-Covid estimate<br />
31<br />
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