In global financial centers, short-term market rates are effectively determined in the pledged collateral market, where … banks and other financial institutions exchange collateral (such as bonds and equities) for money. Furthermore, the use of … long-dated securities as collateral for short tenors-or example, in securities-lending and repo markets, and prime …

An asset bubble relaxes collateral constraints and increases borrowing by credit-constrained agents. At the same time … of a binding collateral constraint. If debt is elevated, policy should lean against the bubble more aggressively to …

Transactions on wholesale capital markets are often secured by marketable collateral. However, collateral needs balance … may have the effect of impeding collateral flows. This may have important consequences for monetary policy transmission …-brokerage markets as suppliers of collateral. It highlights the incentives created by new regulations for different suppliers of …