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Lender-Borrower Relationships and Loan Origination Costs
Ostromogolsky, Philip - 2017
Using a recently developed method of causal inference, this paper estimates the additional up-front loan origination costs that a small business can expect to pay when it first borrows from a new lender. I compare firms that borrow from a previously unused financial institution with firms that...
Persistent link: https://www.econbiz.de/10012957943
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Economics of voluntary information sharing
Liberti, José; Sturgess, Jason; Sutherland, Andrew - 2018
We show that lenders join a U.S. commercial credit bureau when information asymmetries between incumbents and entrants create an adverse selection problem that hinders market entry. Lenders also delay joining when information asymmetries protect them from competition in existing markets,...
Persistent link: https://www.econbiz.de/10011960063
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Repo markets, counterparty risk and the 2007/2008 liquidity crisis
Ewerhart, Christian; Tapking, Jens - 2008
A standard repurchase agreement between two counterparties is considered to examine the endogenous choice of collateral … assets, the feasibility of secured lending, and welfare implications of the central bank’s collateral framework. As an …
Persistent link: https://www.econbiz.de/10011604955
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Equilibrium Collateral Values, Credit-Rationing and Risk-Shifting
Kuklick, Christian - 2011
We explore the determinants of liquidation values of collateral, focusing on the potential buyers of assets. When a fi … and risk-shifting in loan contracts. Our contribution reveals that collateral does not necessarily solve for the asset …
Persistent link: https://www.econbiz.de/10013120489
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Collateral Damage of Reckless Lending
Savvides, Savvakis C. - 2020
It is argued that lending where the overwhelming criterion is the collateral rather than the repayment capability of …
Persistent link: https://www.econbiz.de/10012841180
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Securitization with Implicit Recourse : Some thoughts on the Economic Rationale
Sidki, Marcus - 2019
Asset-backed securitization transactions that are structured to achieve a true sale of the underlying assets, i.e. a legal change of ownership, are usually performed “non-recourse.” However, many securitization transactions show signs of implicit recourse, i.e., the granting of...
Persistent link: https://www.econbiz.de/10012902872
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To Ask or not to Ask : Collateral Vs. Screening in Lending Relationships
Degryse, Hans - 2019
particular for collateral that saves more on regulatory capital …
Persistent link: https://www.econbiz.de/10012893708
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To Ask or Not To Ask? Bank Capital Requirements and Loan Collateralization
Degryse, Hans - 2019
particular for collateral that saves more on regulatory capital …
Persistent link: https://www.econbiz.de/10012897240
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Covenant Violations, Collateral and Credit Access : Public and Private Firms
Barakova, Irina - 2018
supervisory dataset of syndicated loans from 2006-2012. Leveraging the unique information on covenant compliance, collateral and … public firms after violations. We find that collateral plays an important role in alleviating credit rationing for private … collateral values and tighter lending standards. We conclude that banks' use of the covenant channel disproportionately impacts …
Persistent link: https://www.econbiz.de/10012936200
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A New Model for Pricing Collateralized OTC Derivatives
Xiao, Tim - 2018
This paper presents a new model for pricing OTC derivatives subject to collateralization. It allows for collateral … risk alone is not overly important in determining credit-related spreads. Only accounting for both collateral arrangement … collateral agreements on risk measurements. Our findings indicate that there are important interactions between market and credit …
Persistent link: https://www.econbiz.de/10012936706