We study the eligibility of corporate bonds as collateral for central bank operations and its effect on interbank and corporate bond markets. While money market functionality increases in the amount of eligible assets, a thorough assessment of collateral policies must also account for endogenous...

Japan has experienced major earthquake disasters in the past. The Great East Japan Earthquake of March 11, 2011 caused enormous damage. Subsequently, in April 2016, a major tremor centered in Kumamoto Prefecture in Kyushu also occurred. In the event of such a disaster, it is important to ensure...