There is no data to back it up, so I thought I would test the idea that banks were backing away from using no-Gold collateral for short term lending. I took my data from the International Capital Markets Association latest Repos survey for Europe. The data is for bond backed loans, so if the good Professor is right, it should show up here.
Oops!
The report is in billions of Euros . Source: http://www.icmagroup.org/assets/documents/Market-Info/Repo-Market-Surveys/No--22-December-2011/ICMA%20ERC%20European%20Repo%20Survey%20December%202011.pdf
