The London Interbank Offered Rate (LIBOR) is a widely used indicator of funding conditions in the interbank market. As …

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 …

dataset of US firms from 1990 to 2010, we show that property, plant and equipment are important drivers of the collateral … channel, while inventories and receivables are less important. The collateral channel is more pronounced for firms that have … the financial crisis. Our study provides new evidence on the cross-sectional and time-varying importance of the collateral …

The objective of this research is to examine the inter-bank network of clients as a channel for credit risk … groups of banks have experienced increase in NPLs through the channel of contagion spread in the interbank network. The …

crisis ; Interbank market ; Liquidity ; Credit risk ; Collateral …We study the functioning of secured and unsecured interbank markets in the presence of credit risk. The model generates … secured and unsecured markets following an adverse shock to credit risk. The scarcity of underlying collateral may amplify the …