borrowing. The subsequent crisis has reduced the pool of assets considered acceptable as collateral, resulting in a liquidity … of excess bank reserves and do more than merely substitute central bank money for collateral that currently remains …

Large banks and dealers use and reuse collateral pledged by nonbanks, which helps lubricate the global financial system …. The supply of collateral arises from specific investment strategies in the asset management complex, with the primary … been a significant decline in the source collateral for the large dealers that specialize in intermediating pledgeable …

between capital flows and domestic collateral constraints. The key feature of our theory is the existence of an 'Expansionary …We provide a theory of the limits to monetary policy independence in open economies arising from the interaction …

An asset bubble relaxes collateral constraints and increases borrowing by credit-constrained agents. At the same time … of a binding collateral constraint. If debt is elevated, policy should lean against the bubble more aggressively to …

. Two key issues arise with regard to the use of collateral in the context of loan classification and provisioning. In … particular, the questions arise whether collateral should be taken into account in classifying a collateralized loan, and whether … it should be considered in calculating provisions. This paper surveys country practices in the role of collateral in loan …