level at which the Eurosystem considers financial assets to be eligible collateral for its monetary policy operations. The … assessment of eligible collateral underlying Eurosystem monetary policy operations. Contrary to the widely used confidence …

; Collateral ; Risk Management …

Banking has grown too much in Europe - in three senses. First, the European banking system has reached a size where its …. Third, large universal banks - which perform a wide range of banking services, and are peculiarly common in Europe … address Europe's overbanking problem …

Banking has grown too much in Europe - in three senses. First, the European banking system has reached a size where its …. Third, large universal banks - which perform a wide range of banking services, and are peculiarly common in Europe … address Europe's overbanking problem. …

across certain countries in Europe. We find that, overall, the correlation is far greater in Southern Europe than in Northern … Europe. Using a simple model, we show that this heterogeneity may relate to financial frictions in a country. We confirm the … model's propositions in a number of empirical analyses for the following countries in Northern and Southern Europe: the …

We investigate the importance of the housing-based collateral lending channel on firm borrowing, investment and … opacity, and therefore the degree of their reliance on collateral to overcome borrowing constraints. We find that changing … relationship is particularly strong in southern Europe (Italy and Spain), where financial frictions are larger and the use of …

The vast majority of firms in Europe are micro firms. Still, we know little about their financing patterns. Our paper …