Margins, debt capacity, and systemic risk

Margins, debt capacity, and systemic risk

Margins, debt capacity, and systemic risk

BIS Working Papers | No 1121 | 07 September 2023by Sirio Aramonte, Andreas Schrimpf and Hyun Song ShinPDF full text (778kb) | 22 pagesSummaryFocusWe lay out a stylised accounting framework for system-wide debt capacity, when debt serves both as an obligation of the borrower, and also as the collateral pledged by the lender to secure additional funding.

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