Monetary policy, illiquid collateral and bank lending during the European sovereign debt crisis
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DOI: 10.24187/ecostat.2017.494t.1921
Abstract: [eng] This paper assesses the effect on banks’ lending activity of accepting illiquid collateral at the central bank refinancing facility in times of wholesale funding stress. We exploit original data on the loans granted by… read more here.
Keywords: bank; debt crisis; illiquid collateral;