caa a22 4500 606237534 CHVBK 20210128101253.0 cr unu---uuuuu 210128e20150301xx s 000 0 eng 10.1007/s10272-015-0529-z doi (NATIONALLICENCE)springer-10.1007/s10272-015-0529-z Belke Ansgar Lehrstuhl für Volkswirtschaftslehre, Uni. Duisburg-Essen, Fakultät für Wirtschaftsw., Universitätsstraβe 12, 45117, Essen, Germany aut Eurosystem Collateral Policy and Framework — Post-Lehman Time as a New Collateral Space [Elektronische Daten] [Ansgar Belke] Collateral plays a central role in monetary policy. In recent years, its importance has increased as uncollateralised inter-bank borrowing has gradually been replaced by collateralised central bank lending. This has in turn affected collateral availability and the need for high-quality assets. The European Central Bank has reacted to this development by creating a series of different measures to broaden collateral availability, including changing the eligibility rules (e.g. reducing rating thresholds for certain asset classes) or extending the eligible assets (e.g. allowing national central banks to accept bank loans as collateral). In the context of these developments, this article assesses and comments on various aspects of the Eurosystem collateral policy and overall framework. In particular, it examines the economic implications of the current ECB collateral policy for asset allocation and relative asset price developments from a cross-country perspective. ZBW and Springer-Verlag Berlin Heidelberg, 2015 Intereconomics Springer Berlin Heidelberg 50/2(2015-03-01), 82-90 0020-5346 50:2<82 2015 50 10272 https://doi.org/10.1007/s10272-015-0529-z text/html Onlinezugriff via DOI BK010053 XK010053 XK010000 Metadata rights reserved Springer special CC-BY-NC licence nationallicence 1 research-article jats NATIONALLICENCE NATIONALLICENCE NL-springer NATIONALLICENCE 856 40 https://doi.org/10.1007/s10272-015-0529-z text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Belke Ansgar Lehrstuhl für Volkswirtschaftslehre, Uni. Duisburg-Essen, Fakultät für Wirtschaftsw., Universitätsstraβe 12, 45117, Essen, Germany aut NATIONALLICENCE 773 0- Intereconomics Springer Berlin Heidelberg 50/2(2015-03-01), 82-90 0020-5346 50:2<82 2015 50 10272