It appears JavaScript is currently blocked

Check your browser settings and network. This website requires JavaScript for some content and functionality.

Skip to content

Reserve Bank of Australia

What are you looking for?

Monetary Policy
Market Operations
Payments & Infrastructure
Financial Stability
Banknotes
Financial Services
About Us

Media Releases
Speeches
Publications
Statistics
Chart Pack
Research
Archives
Education
Careers
Q&A
Contact Us

In RDP

About RDPs
Advanced Search for RDPs
2021–2024
2011–2020
2001–2010
1991–2000
1981–1990
1971–1980
1969–1970

Tags

asset quality, balance sheet, banking, banknotes, bonds, business, business cycle, capital, cash rate, central clearing, China, climate change, commercial property, commodities, consumption, COVID-19, credit, cryptocurrency, currency, digital currency, debt, education, emerging markets, exchange rate, export, fees, finance, financial markets, financial stability, First Nations, fiscal policy, forecasting, funding, global economy, global financial crisis, history, households, housing, income and wealth, inflation, insolvency, insurance, interest rates, international, investment, labour market, lending standards, liquidity, machine learning, macroprudential policy, mining, modelling, monetary policy, money, open economy, payments, productivity, rba survey, regulation, resources sector, retail, risk and uncertainty, saving, securities, services sector, technology, terms of trade, trade, wages

In RDP 2022-05

Introduction
Corporate Debt Covenants in Australia
Direct Effects of Covenants
Indirect Effects of Covenants – Monetary Policy Transmission
Aggregate Effects of Covenant Composition
Conclusion
Appendix A: Construction of Debt Covenants Data
Appendix B: Other Descriptive Statistics
Appendix C: Trends before and after Treatments
Appendix D: Direct Effects – Robustness Checks
Appendix E: Monetary Policy Shocks
Appendix F: Average Partial Responses Relative to 2003
Appendix G: Trends Using Restricted Sample and Breaching Rates
References

RDP 2022-05: The Real Effects of Debt Covenants: Evidence from Australia Appendix G: Trends Using Restricted Sample and Breaching Rates

Kim Nguyen

October 2022

Download the Paper 1,648KB

Figure G1: Trends in Corporate Debt Covenants

Non-financial listed firms, three-year moving average

Sign up for email and SMS alerts

Subscribe

Follow us

Facebook
X
LinkedIn
YouTube
Instagram
Flickr

Affiliate sites

Banknotes
Unreserved
Museum
Council of Financial Regulators
Australian Foreign Exchange Committee
H.C. Coombs Centre

The Reserve Bank of Australia supports the Foundation for Children.

The materials on this webpage are subject to copyright and their use is subject to the terms and conditions set out in the Copyright and Disclaimer Notice. © Reserve Bank of Australia, 2001–2024. All rights reserved. The Reserve Bank of Australia acknowledges the Aboriginal and Torres Strait Islander Peoples of Australia as the Traditional Custodians of this land, and recognises their continuing connection to country. We pay our respects to their Elders, past and present. Aboriginal and Torres Strait Islander peoples should be aware that this website may contain the names, images and voices of people who are now deceased.

References

For Media
Judicial Notice
Privacy
Accessibility
Procurement
Glossary
Schedules & Events

Report a Vulnerability
Scams
Public Interest Disclosure
Access to Information