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 …

"Central bank collateral frameworks are an often overlooked feature of monetary policy that play a key role in the … setting interest rates, and develop their understanding as to how collateral policies may affect financial markets, financial …

Central bank collateral frameworks are an often overlooked feature of monetary policy that play a key role in the … setting interest rates, and develop their understanding as to how collateral policies may affect financial markets, financial … stability, and the real economy. This book studies the collateral framework in the euro area in detail, and levers this analysis …

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 …