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 …

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 …

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

Munich in July 2016. The goal of the thesis is to establish the configuration of collateral policy as a tool of central bank … policies in pursuit of different objectives, and to present collateral policies in practice, as well as impact and effects of … collateral policy. The thesis consists of three parts and nine chapters. The first part discusses the role of collateral in …

Munich in July 2016. The goal of the thesis is to establish the configuration of collateral policy as a tool of central bank … policies in pursuit of different objectives, and to present collateral policies in practice, as well as impact and effects of … collateral policy. The thesis consists of three parts and nine chapters. The first part discusses the role of collateral in …

significantly after the initial shock. We find evidence of a threshold in the benefits of expanding the collateral framework and …The paper studies the central bank collateral framework and its impact on banks' liquidity under an adverse stress test … scenarios: the EBA regulatory stress test exercise, a shock to Russia and the Eastern European countries, and a shock to the …

significantly after the initial shock. We find evidence of a threshold in the benefits of expanding the collateral framework and …The paper studies the central bank collateral framework and its impact on banks’ liquidity under an adverse stress test … scenarios: the EBA regulatory stress test exercise, a shock to Russia and the Eastern European countries, and a shock to the …

collateral, in the Eurozone mainly sovereign bond markets, with further damaging consequences for sovereign funding conditions … conceptualize the importance of collateral ? (b) how can the analytical integration of geographies of collateralized bank funding … of exit strategies through the lens of collateral? The paper argues that the short-term nature of collateral management …