that backup lines provide commercial-paper issuers with reliable liquidity insurance and that banks' liquidity provision … have despite this received scant attention in the credit-line literature. In this paper, I study the liquidity … commercial-paper market during the COVID-19 pandemic as an exogenous shock to the supply of market-provided liquidity. I find …

We show that illiquid assets such as bank loans are used by euro area banks both as central bank collateral for short … explore the determinants of the choice of using bank loans for short-term liquidity insurance purposes or long-term funding …-term liquidity insurance purposes and for longer-term funding purposes for issuing covered bonds or asset-backed securities. We then …