In this case, the enterprise must first dispose of assets not used as collateral. After these assets have been sold, the enterprise then may sell assets used to secure loans. Accordingly, in these cases banks recoup on average less than 1.2 percent of their loans, many times lower then they expected.
In the United States (US), for instance, economists anticipated that the boost to private spending from the fiscal stimulus of the first half of 2018 would eventually fade. This has indeed happened, although the US economy remained dynamic at the start of 2019, rising by a surprisingly strong 3.1% when annualised, despite a temporary shutdown of government services.