With the European debt crisis, the role of assets accepted by the Eurosystem as collateral for refinancing operations … bond prices led to significant fluctuations in the collateral constraints of credit institutions. This paper documents the … the decline in asset prices during the European debt crisis on the valuation of collateral available for refinancing. We …

Collateral plays a very important role in financial markets. Without easy access to high-quality collateral, dealers … economy through increased financing costs. The role of collateral has become increasingly significant since the global … paper introduces a new measure of collateral reuse and studies the drivers of the cost of obtaining high-quality collateral …

study the intended and unintended consequences of asset purchases in the repo market with Bund collateral. Bunds that are …