We study how the Eurosystem Collateral Framework for corporate bonds helps the European Central Bank (ECB) fulfill its … due to the increased supply and demand for pledgeable collateral following eligibility, (i) securities lending market … collateral supply, thereby making the market more cohesive and complete. Following eligibility, bond-issuing firms reduce bank …

unsecured lending and substantial increases in haircuts on posted collateral. This paper seeks to understand the implications of … number of occasionally binding constraints. The interactions between these constraints - in particular leverage and liquidity …. If the liquidity constraint is very tight, the leverage constraint may turn slack. In this case, there are large declines …

unsecured lending and substantial increases in haircuts on posted collateral. This paper seeks to understand the implications of … number of occasionally binding constraints. The interactions between these constraints - in particular leverage and liquidity …. If the liquidity constraint is very tight, the leverage constraint may turn slack. In this case, there are large declines …

unsecured lending and substantial increases in haircuts on posted collateral. This paper seeks to understand the implications of … number of occasionally bind-ing constraints. The interactions between these constraints - in particular leverage and … and output. If the liquidity constraint is very tight, the leverage constraint may turn slack. In this case, there are …

unsecured lending and substantial increases in haircuts on posted collateral. This paper seeks to understand the implications of … number of occasionally binding constraints. The interactions between these constraints - in particular leverage and liquidity …. If the liquidity constraint is very tight, the leverage constraint may turn slack. In this case, there are large declines …

This paper examines credit market policies under pecuniary externalities induced by collateral constraints. Pigouvian … to debt taxes. Thirdly, ex-ante saving subsidies are desirable when distributive effects dominate collateral effects …