bank issues covered bonds backed by a pool of assets that is bankruptcy remote and replenished following losses …. Encumbering assets allows a bank to raise cheap secured debt and expand profitable investment, but it also concentrates risk on …

This paper assesses European bank deleveraging and its impact on global credit conditions. Before the onset of the … international banks although European banks remain a dominant source of funding. "Good" bank deleveraging is still necessary from a … core component of this multi-year deleveraging process. Taken together, European bank deleveraging warrants close attention …

of bank competition on firms' access to finance. They find that low competition, as measured by high values of the Lerner … index, diminishes firms' access to finance, while commonly-used bank concentration measures are not robust predictors of … information, can mitigate the damaging impact of low competition. But other characteristics, such as high government bank …