When limited commitment hinders unsecured credit, assets help by serving as collateral. We study models where assets …

When limited commitment hinders unsecured credit, assets help by serving as collateral. We study models where assets …

collateral policy features substantial preferential treatment, implying a green-conventional bond spread of 73bp. This increases …We study the preferential treatment of green bonds in the Central Bank collateral framework as an environmental policy … entrepreneurs issue defaultable bonds to banks that use them as collateral. Collateral policy solves a financial stability trade …

explains that gold has been used as collateral in the past and how a gold-backed bond might work and how it could lower yields …This paper argues that using gold as collateral for highly distressed bonds would bring great benefits to the euro area …

explains that gold has been used as collateral in the past and how a gold-backed bond might work and how it could lower yields …This paper argues that using gold as collateral for highly distressed bonds would bring great benefits to the euro area …

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 …