COVID-19 and the Credit Outlook for Canadian Banks

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Presented by

Robert Colangelo

About this talk

The wide and growing scale of the economic disruption caused by the Coronavirus Disease (COVID-19) has resulted in unprecedented support measures being put in place by governments and regulators around the globe in order to help mitigate the negative impacts of the crisis. To this end, the large Canadian banks have granted payment deferrals to a large number of their retail and commercial banking clients. Globally, credit ratings remain pressured due to the significant drop in economic activity, with global macroeconomic forecasts shifting dramatically amidst the continued uncertainty around the depth and duration of the downturn. DBRS Morningstar has recently updated its macroeconomic scenarios, which allows analysts to evaluate a range of potential economic outcomes within their credit analysis. In this webinar, our analysts will discuss the updated economic scenarios that are used in credit analysis. They will also explore the impact the economic disruption is having on the overall credit fundamentals of the large Canadian banks and will discuss the outlook for these banks over the remainder of the year and into next year. The discussion will last approximately 20 to 25 minutes and will be followed by an interactive question-and-answer session. DBRS Morningstar welcomes all who wish to participate.
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Morningstar DBRS is a leading provider of independent rating services and opinions for corporate and sovereign entities, financial institutions, and project and structured finance instruments globally. Rating more than 4,000 issuers and 60,000 securities, we are one of the top four credit rating agencies in the world and a market leader in Canada, the U.S. and Europe in multiple asset classes.