... our estimates of the impact of prior relationships on default rates. 11ECBWorking Paper Series No 1395 November 2011 In a second set of tests we examine the sources of value of relationships. ... usage of debit and credit cards, (iv) the existence of credit lines 10ECBWorking Paper Series No 1395 November 2011and (v) the usage of credit lines. Second, we examine the impact of relationships ... use of soft information (Agarwal and Hauswald, 2007) as well as the use of discretion by banks (Cerqueiro, Degryse, and Ongena, 2007). 13ECBWorking Paper Series No 1395 November 2011 of analyzing...