A standard repurchase agreement between two counterparties is considered to examine the endogenous choice of collateral … assets, the feasibility of secured lending, and welfare implications of the central bank’s collateral framework. As an …

decouple across secured and unsecured markets following an adverse shock to credit risk. The scarcity of underlying collateral …

repurchase agreements (“Repos”). By varying haircuts applied to securities that serve as collateral in repurchase agreements the …

for CDS sellers is found to be sudden increases in collateral requirements on multiple correlated CDS exposures. Close …

We show that the liquidation value of collateral depends on who is pledging it. We employ transaction-level data on … collateral that they pledge. The premium in corporate loan markets amounts to 25 basis points. Our results imply that liquidation … value contains a component at the borrower-collateral level, and that lenders monitor and price-in the interdependency …

central bank collateral framework and regulation determine jointly the ability of the banking system to deliver maturity … bank collateral and why a sudden non-anticipated reduction of asset liquidity, or a tightening of the collateral framework …, can destabilize short term liabilities of banks. Finally, the model allows discussing how the collateral framework can be …

secured and unsecured markets following an adverse shock to credit risk. The scarcity of underlying collateral may amplify the …

their regulatory ratio by altering their collateral pledging with the European Central Bank. We use the existence of … assets. Using security-level information on collateral pledged with the central bank, we find that banks without a preceding … national liquidity requirement pledge more and less liquid collateral than banks with a preceding national liquidity …