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Extended eligibility of credit claims for Eurosystem refinancing Consequences for the supply of credit to companies

Vincent Bignon (), Frédéric Boissay (), Christophe Cahn () and L.-M. Harpedanne de Belleville

Quarterly selection of articles - Bulletin de la Banque de France, 2016, issue 43, 15-23

Abstract: In December 2011, the Eurosystem’s Governing Council decided to extend the scope of assets eligible to be used as collateral in refinancing operations, as part of its non-standard monetary policy measures. In France, this decision resulted, from February 2012, in the admission of credit claims on companies rated 4 on the Banque de France’s rating scale. The article sets out the effects of extending the scope of eligibility on the credit financing of the companies directly concerned.

Keywords: monetary policy; credit claims; collateral (search for similar items in EconPapers)
JEL-codes: E52 E58 (search for similar items in EconPapers)
Date: 2016
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Handle: RePEc:bfr:quarte:2016:43:02