Belgian reform could serve as an example to Germany. This article starts by comparing the evolutions both legal systems have …-possessory security interests for fear that this would annihilate transparency, Germany allowed for a broad system of non … extension of the collateral base. These legal evolutions have set the stage for reform in Belgium, a reform that is based on the …

This paper offers an encompassing analysis of the ECB's collateral criteria between 2001 and 2013. A comprehensive … database of changes to collateral criteria is compiled and structured by asset classes. The main findings can be summarized in … three stylized facts: (1) Since the outbreak of the financial crisis, the ECB has been six times more active in collateral …

in modern monetary and financial systems, namely central bank collateral frameworks. Their importance can be understood …, not defined in a market, but by the collateral frameworks and interest rate policies of central banks. Using the … collateral framework of the Eurosystem as a basis of illustration and case study, the paper brings to light the functioning …

, the availability of high quality collateral suitable for encumbrance, capital and sovereign funding conditions. Third, we …

The ECB has accepted increasing amounts of rubbish collateral since the crisis started leading to exposure to serious …