secured and unsecured markets following an adverse shock to credit risk. The scarcity of underlying collateral may amplify the … crisis ; Interbank market ; Liquidity ; Credit risk ; Collateral …

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 …

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 …

How do housing bubbles affect other economic sectors? We show that in the presence of collateral constraints, a bubble …

credit via revaluation of collateral and subsequent lending decisions. Specifically we examine banks' treatment of real … estate collateral during the Covid-19 crisis. First we find evidence of significant frictions in the transmission of asset … price dynamics to collateral values. Despite this we find that lending relationships reliant on real estate collateral …