have shifted over the past year. We estimate that the adverse impact of counterparty risk on high-grade collateral flows …

market do not hold collateral against all the positions in their trading book and the paper proves an estimate of this under …-collateralization. Whatever collateral is held by banks is allowed to be rehypothecated (or re-used) to others. Since CCPs would require all … positions to have collateral against them, off-loading a significant portion of OTC derivatives transactions to central …

mandatory central clearing frameworks in place, covering at least 90 percent of all standardized OTC derivatives in their … clearing, also in light of the international dimension of OTC derivatives contracts. This paper examines the policy options … available to countries that have yet to fully conform to the clearing mandate, centered on the setup of local CCPs or on the use …

global perspective. At the same time, collateral requirements applied by banks are onerous and also constrain the quantity of … credit supplied. This paper identifies a range of factors that could lower spreads in the Kyrgyz Republic: more competition … the high collateral requirements. Reforms in all these areas would support greater financial inclusion in the aftermath of …

. Two key issues arise with regard to the use of collateral in the context of loan classification and provisioning. In … particular, the questions arise whether collateral should be taken into account in classifying a collateralized loan, and whether … it should be considered in calculating provisions. This paper surveys country practices in the role of collateral in loan …

loan collateral by small firms …

We examine how bank competition in the run-up to the 2007-2009 crisis affects banks' systemic risk during the crisis … competition at the industry level lead to higher realized systemic risk. The results suggest that the use of securitization …