New BIS WP out!!
“Collateralized lending in private credit”
We use loan-level data for the US over the past 25 years to document that behind the notable rise of private credit there is an equally notable shift towards collateralized lending 1/
https://www.bis.org/publ/work1267.htm
“Collateralized lending in private credit”
We use loan-level data for the US over the past 25 years to document that behind the notable rise of private credit there is an equally notable shift towards collateralized lending 1/
https://www.bis.org/publ/work1267.htm
Comments
We show that secured lending now accounts for around half of a market that was typically associated with unsecured, across industries