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 …

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 …

-mentioned key services, especially when programmes are larger and/or are retained by the issuer for use as collateral with the … for networks based on the use of securities as Eurosystem collateral. These findings help demonstrate the importance of …

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

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 …