the Spanish bankruptcy system relative to that of an alternative insolvency institution, the mortgage system, and the …

, namely the mortgage system, mean that firms and their creditors mainly deal with credit provision and eventual insolvency … through the latter. However, in order to use the mortgage system, some firms must overinvest in capital assets (real estate …, equipment) since those are the assets that can be pledged as mortgage collateral. This overinvestment leads to productive …

main alternative procedure, the mortgage foreclosure; (ii) personal bankruptcy law is unattractive to the individual debtor …

credit institutions operate. …

This paper analyses the cyclical behaviour of bank credit, loan losses and provisions for loan losses in Spain. These … and regulators. In a context of strong competitive pressures, there is a tendency for loose bank credit conditions in an … upturn in view of the low level of contemporaneous non-performing loans. This may contribute to an over-extension of credit …

household credit, considering that the behaviour of its determinants is exogenous. According to the evidence reported, household …

Since bank credit lines are a major source of corporate funding, we examine the determinants of credit line usage with … a comprehensive database of Spanish corporate credit lines. A line’s default status is a key factor driving its usage … decisions, and credit line usage is found to be inversely related to macroeconomic conditions. …

current and anticipated changes in banks’ capital on firm lending. We isolate the role of credit supply factors using the …. The relatively small magnitude of credit supply factors may be explained by the weakness of loan demand in a context of a …