Table 10.

The effect of COVID-19 on delinquencies and restructurings: 2020Q2 and 2020Q3. This table shows how delinquencies and restructurings reacted to the COVID-19 crisis in 2020Q2 and 2020Q3. $Weighted\_Covid\_19$ is our bank-specific weighted average COVID-19 cases per 1000 people measure. Columns (1) and (2) focus on the time period of 2018Q1 to 2020Q2, but exclude 2020Q1; Columns (3) and (4) focus on 2018Q1 to 2020Q3, but exclude 2020Q1 and 2020Q2. In both cases, $Crisis$ is a dummy variable that is one for 2020Q2 or 2020Q3 and zero otherwise. $Highcapital$ is an indicator variable that takes the value one if a bank’s capital ratio is above the median in 2019Q4 and zero otherwise. All regressions include control variables, bank, and time fixed effects. The robust standard errors, clustered at the bank level, are reported under the coefficients. The symbols ***, **, and * denote significance at the 1%, 5%, and 10% levels, respectively.

	2020Q2		2020Q3
	(1)	(2)	(3)	(4)
	Days 30 delinquent / total loans	Restructured loans / total loans	Days 30 delinquent / total loans	Restructured loans / total loans
Crisis $\times$$Weighted\_Covid\_19$$\times$ High capital	0.006***	0.010	$-$0.004	$-$0.011
	(3.77)	(0.79)	($-$1.30)	($-$0.12)
Crisis $\times$$Weighted\_Covid\_19$	0.000	0.001	0.019***	$-$0.002**
	(1.02)	(0.15)	(2.77)	($-$2.49)
Crisis $\times$ High capital	$-$0.006**	$-$0.012		0.037
	($-$2.61)	($-$0.33)		(0.18)
Controls	Yes	Yes	Yes	Yes
Bank FE	Yes	Yes	Yes	Yes
Time FE	Yes	Yes	Yes	Yes
Observations	99	170	96	164
Adjusted $R^2$	0.896	0.990	0.900	0.991