This paper studies the effects of the bank capital requirements imposed by the European authorities in October 2011 on … loan collateral and personal guarantees usage to enhance capital ratios. We use detailed information on the loan contracts … granted by a representative Spanish bank and several subsidiaries to nonfinancial corporations around that date. We document …

start-ups caused by lacking collateral or equity and high information asymmetry. The present study quantifies the economic … lacking behind those in the old federal states. Using data of five guarantee banks and results from enterprise and bank …

letters of credit, which during the capital controls period had to be backed by firms’ own cash collateral rather than the … bank guarantee. As a result, cash-poor firms imported relatively less. Public intervention to guarantee transactions is …