Credit economy of banks during SARS-CoV-2

Abstract

Each pandemic is the greatest potential, negative and global risk, especially when it is connected with high morbidity and mortality. There are also negative social and economic effects associated with a pandemic. The world is fighting nowadays against the COVID-19 pandemic, which is caused by SARS-CoV-2. Thus, there is high concern about the global economy. In the opinion of some analysts, COVID-19 will contribute to the global recession.
 It is worth emphasizing that the Polish Financial Supervision Authority, the Financial Stability Committee, as well as the National Bank of Poland undertake actions focused on introduction of measures aimed at maintaining the availability of credit for entrepreneurs. At the same time, the Polish Bank Association (ZBP) initiated some facilitations for bank customers with regard to paying off liabilities, as well as extending the period of the loan itself (A. Sieroń, 2021).
 For those involved in observation of central banks activities, it is obvious that the monetary policy reaction to the situation resulting from the COVID-19 pandemic is dictated by many reasons, and thus, is considered to be exceptional. The purpose of this analysis is to examine in a systematic manner some of the aspects of the above unique situation and to make some comments. The observations described in the paper result only from information relating to the initial reactions of banks to the situation connected with the COVID-19 pandemic. It would be wrong to say that banks can be considered completely safe today. New economic and social events could contribute to the inefficiency of this sector. One of such event is the COVID-19 pandemic. In the long run, there may be more risks of this kind.