Template-Type: ReDIF-Article 1.0
Author-Name: Patrick Schaffner
Author-Name: Angelo Ranaldo
Author-Name: Kostas Tsatsaronis
Title: Euro repo market functioning: collateral is king
Abstract: Repo markets play a major role in redistributing liquidity and collateral between financial institutions. A unique transaction-level database reveals how the euro-denominated repo market has performed since the mid-2000s. We find that the market recovered strongly from periods of intense stress, even though it remains segmented according to the home country of the collateral used. In recent years, signs of segmentation have increased as the main motivation of repo market participants has shifted from funding to the trading of collateral.
Journal: BIS Quarterly Review
File-URL: http://www.bis.org/publ/qtrpdf/r_qt1912k.pdf
File-Format: Application/pdf
File-URL: http://www.bis.org/publ/qtrpdf/r_qt1912k.htm
File-Format: text/html
Year: 2019
Month: December
Classification-JEL: E40, E58, G15, G23
Handle: RePEc:bis:bisqtr:1912k