02490cas a2200325 a 4500 AALejournalIMF021670 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513574158 1018-5941 BD-DhAAL BD-DhAAL Deghi, Andrea. Corporate Funding and the COVID-19 Crisis / Andrea Deghi, Dulani Seneviratne, Tomohiro Tsuruga. Washington, D.C. : International Monetary Fund, 2021. 1 online resource (36 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 This paper assesses whether corporate liquidity needs in the G7 economies were met during the containment phase of the COVID-19 pandemic (February-June 2020) using various approaches to identify credit supply shocks. The pandemic crisis adversely affected nonfinancial corporate sector cash flows, generating liquidity and solvency pressures. However, corporate borrowing surged in March and into the second quarter, thanks to credit line drawdowns and unprecedented policy support. In the United States, the bond market was buoyant from the end of March onward, but credit supply conditions for bank loans and the syndicated loan market tightened. In other G7 economies, credit supply conditions generally eased somewhat across markets during the second quarter. Among listed firms, entities with weaker liquidity or solvency positions before the onset of COVID-19, as well as smaller firms, suffered relatively more financial stress in some economies in the early stages of the crisis. Residual signs of strain remained as of the end of June. Policy interventions, especially those directly targeting the corporate sector, had a beneficial effect on credit supply overall. Mode of access: Internet Corporate Cash imf Corporate Funding imf Credit Supply imf Financial Constraints imf Loan Guarantees imf Seneviratne, Dulani. Tsuruga, Tomohiro. IMF Working Papers; Working Paper ; No. 2021/086 Full text available on IMF http://elibrary.imf.org/view/journals/001/2021/086/001.2021.issue-086-en.xml IMF e-Library