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Credit market conditions and the use of bank lines of credit

Author

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  • Christopher M. James

Abstract

Many credit line agreements contain restrictive covenants and other contingencies that may limit the ability of borrowers to draw on their lines, which is a particular concern to small firms. This Economic Letter reviews recent empirical studies that suggest that private firms? access to credit lines is much more sensitive to changes in bank lending standards than is access by publicly traded firms.

Suggested Citation

  • Christopher M. James, 2009. "Credit market conditions and the use of bank lines of credit," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue aug31.
    • Handle: RePEc:fip:fedfel:y:2009:i:aug31:n:2009-27
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    File URL: https://www.frbsf.org/research-and-insights/publications/economic-letter/2009/08/credit-market-bank-lines-credit/
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    File URL: https://fraser.stlouisfed.org/files/docs/historical/frbsf/frbsf_let/frbsf_let_20090831.pdf
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    File URL: https://fraser.stlouisfed.org/title/economic-letter-federal-reserve-bank-san-francisco-4960/credit-market-conditions-use-bank-lines-credit-633444
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    Cited by:

    1. Meeks, Roland, 2012. "Do credit market shocks drive output fluctuations? Evidence from corporate spreads and defaults," Journal of Economic Dynamics and Control, Elsevier, vol. 36(4), pages 568-584.

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