02036cas a2200337 a 4500 AALejournalIMF016478 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513537405 1018-5941 BD-DhAAL BD-DhAAL Fernandes, Marcelo. March Madness in Wall Street : (What) Does the Market Learn from Stress Tests? / Marcelo Fernandes, Deniz Igan, Marcelo Pinheiro. Washington, D.C. : International Monetary Fund, 2015. 1 online resource (34 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Annual stress tests have become a regular part of the supervisors' toolkit following the global financial crisis. We investigate their capital market implications in the United States by looking at price and trade reactions, information asymmetry and uncertainty indicators, and bank activities. The evidence we present supports the notion that there is important new information in stress tests, especially at times of financial distress. Moreover, public disclosure seems to help reduce informational asymmetries. Importantly, public disclosure of stress test results (and methodology) does not seem to have reduced private incentives to generate information or to have led to distorted incentives. Mode of access: Internet Abnormal Returns imf Bank imf Firm imf Result imf WP imf United States imf Igan, Deniz. Pinheiro, Marcelo. IMF Working Papers; Working Paper ; No. 2015/271 Full text available on IMF http://elibrary.imf.org/view/journals/001/2015/271/001.2015.issue-271-en.xml IMF e-Library