Jiménez, Gabriel; Lopez, Jose A.; Saurina, Jesús - Federal Reserve Bank of San Francisco - 2007
Since bank credit lines are a major source of corporate funding and liquidity, we examine the determinants of credit … line usage with a database of Spanish corporate credit lines. A line's default status is the primary factor driving its … usage, which increases as a firm approaches default. Several lender characteristics suggest an important role for bank …