We examine a change in the European Central Bank's collateral framework, which significantly lowered the rating … requirement for eligible residential mortgage-backed securities (RMBS), and its impact on bank lending and risk-taking in the … lower-interest-rate loans serve as collateral for newly issued RMBS with lower-rated tranches and subsequently experience …

-mentioned key services, especially when programmes are larger and/or are retained by the issuer for use as collateral with the … for networks based on the use of securities as Eurosystem collateral. These findings help demonstrate the importance of …

securities with the highest yield and lowest collateral quality among ABS with the same regulatory risk weight. This ABS …

of collateral delinquency and lose value. Differences in bank sophistication, market power, or incentives to retain …