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* We are grateful to Philipp Hartmann and Frank Smets for helpful comments. We thank Marco lo Duca for excellent research assistance. Ongena acknowledges the hospitality of the European Central Bank. Any views expressed are only those of the authors and should not be attributed to the Bank of Spain, the European Central Bank or the Eurosystem. Abstract We(More)
  • Mathias Drehmann, Claudio Borio, Leonardo Gambacorta, Gabriel Jiménez, Carlos Trucharte
  • 2010
BIS Working Papers are written by members of the Monetary and Economic Department of the Bank for International Settlements, and from time to time by other economists, and are published by the Bank. The papers are on subjects of topical interest and are technical in character. The views expressed in them are those of their authors and not necessarily the(More)
This paper analyses the determinants of the probability of default (PD) of bank loans. We focus the discussion on the role of a limited set of variables (collateral, type of lender and bank-borrower relationship) while controlling for the other explanatory variables. The study uses information on the more than three million loans entered into by Spanish(More)
This paper analyses the determinants of the probability of default (PD) of bank loans. We focus the discussion on the role of a limited set of variables (collateral, type of lender and bank-borrower relationship) while controlling for the other explanatory variables. The study uses information on the more than three million loans entered into by Spanish(More)
  • Gabriel Jiménez, Steven Ongena, José-Luis Peydró, Jesús Saurina, Andrés Almazán, Nicola Cettorelli +10 others
  • 2010
To identify credit availability we analyze the extensive and intensive margins of lending with loan applications and all loans granted in Spain. We find that both worse economic and tighter monetary conditions reduce loan granting, especially to firms or from banks with lower capital or liquidity ratios. Moreover, responding to applications for the same(More)
This paper is the sole responsibility of its authors and the views represented here do not necessarily reflect those of the Bank of Spain. The authors would like to express their thanks for the valuable comments received during the presentation made at the CEMFI lunch seminar, and the contributions made by Javier Delgado, Jorge Pérez, Daniel Pérez and(More)
BIS Working Papers are written by members of the Monetary and Economic Department of the Bank for International Settlements, and from time to time by other economists, and are published by the Bank. The papers are on subjects of topical interest and are technical in character. The views expressed in them are those of their authors and not necessarily the(More)