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 …

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 …

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

the credit risk of their corporate loan portfolios when the latter are used as collateral in the Eurosystem’s monetary … actually used as Eurosystem collateral, particularly for large loans. The less conservative estimates of risk by IRBs relative … findings suggest the existence of a collateral-related channel through which the use of IRB ratings may influence the internal …

projects. In equilibrium, the collateralization-screening mix depends on the value of aggregate collateral. High collateral … important dynamic implications. During credit booms driven by high collateral values (e.g. real estate booms), the economy … accumulates physical capital but depletes information about investment projects. As a result, collateral-driven booms end in deep …