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| Tekijä: | Callado-Munoz, F.J. Restoy, F. |
| Otsikko: | Collateral in monetary policy operations |
| Lehti: | European Financial Management
2011 : MAR, VOL. 17:2, p. 286-304 |
| Asiasana: | monetary policy currency euro loans costs portfolio management decision making banks markets models |
| Vapaa asiasana: | collateralised loans |
| Kieli: | eng |
| Tiivistelmä: | Based on a portfolio decision model for banks, this paper estimates the costs associated with the need to collateralise loans from the central bank, calibrating the difference btw. a restrictive collateral eligibility framework for open market operations. It is documented that there could potentially appear relevant cost differences btw. the various collateral mobilisation procedures (pooling and ear marking) that currently coexist in the eurozone. |
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