Collateral eligibility policy is neglected, says BIS paper
A working paper, published by the Bank for International Settlements on November 9, says collateral eligibility is a neglected aspect of monetary policy theory, and the easing of collateral standards by the European Central Bank (ECB) is exposing the eurozone to greater risk.
The authors, William Allen and Richhild Moessner, analyse the liquidity effects of the euro area sovereign debt crisis on intra-euro area financial flows, international liquidity, and the supply of and demand for collateral
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