We show that central bank lending against lower quality collateral can improve conditions in
the money market. For identification we take advantage of a pandemicrelated temporary …

We study the effect of collateral eligibility of corporate loans on the pricing of these loans by
banks in Finland. Speciftcally, we investigate whether loans that are pledgeable as collateral …

Using a large eligibility shock, I show that liquidity insurance by the central bank has
significant real effects. Large-scale rating of non-public French firms, whose credit claims …