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Les créances privées davantage éligibles au refinancement de l’Eurosystème Conséquences sur l’offre de crédit

Author

Listed:
  • BIGNON, V.
  • BOISSAY, F.
  • CAHN, C.
  • HARPEDANNE DE BELLEVILLE, L-M

Abstract

En décembre 2011, le Conseil des gouverneurs de l’Eurosystème a décidé, dans le cadre de ses mesures non conventionnelles de politique monétaire, d’étendre le périmètre de l’éligibilité des titres admis en garantie de ses opérations de refinancement. Cette décision s’est traduite en France, à partir de février 2012, par l’éligibilité des créances privées sur des entreprises auxquelles la Banque de France a attribué une cote de crédit égale à 4. L’article expose les effets de l’élargissement de ce périmètre d’éligibilité sur le financement par crédit des entreprises directement concernées.

Suggested Citation

  • Bignon, V. & Boissay, F. & Cahn, C. & Harpedanne De Belleville, L-M, 2016. "Les créances privées davantage éligibles au refinancement de l’Eurosystème Conséquences sur l’offre de crédit," Bulletin de la Banque de France, Banque de France, issue 206, pages 19-28.
    • Handle: RePEc:bfr:bullbf:2016:206:02
    as

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    References listed on IDEAS

    as
    1. Rebecca McCaughrin & Mr. Simon T Gray & Alexandre Chailloux, 2008. "Central Bank Collateral Frameworks: Principles and Policies," IMF Working Papers 2008/222, International Monetary Fund.
    2. Tamura, Kentaro & Tabakis, Evangelos, 2013. "The use of credit claims as collateral for Eurosystem credit operations," Occasional Paper Series 148, European Central Bank.
    3. C. Cahn & J. Matheron & J-G. Sahuc, 2014. "Assessing the macroeconomic effects of LTROS," Working papers 528, Banque de France.
    4. Tabakis, Evangelos & Tamura, Kentaro, 2013. "The use of credit claims as collateral for Eurosystem credit operations," Occasional Paper Series 148, European Central Bank.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    politique monétaire; créances privées; collatéral;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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