Title: Empiral analysis of corporate credit lines
Description: Since bank credit lines are a major source of corporate funding and liquidity, we examine the  determinants of credit line usage with a database of Spanish corporate credit lines. A line's  default status is the primary factor driving its usage, which increases as a firm approaches  default. Several lender characteristics suggest an important role for bank monitoring in firms'  usage decisions. Credit line usage is found to be inversely related to macroeconomic  conditions. Overall, while several factors influence corporate credit line usage, our analysis  suggests that default and supply-side variables are the most important.