Euro repo market functioning: collateral is king

Patrick Schaffner, Angelo Ranaldo and Kostas Tsatsaronis ()

BIS Quarterly Review, 2019

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.

JEL-codes: E40 E58 G15 G23 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (17)

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Persistent link: https://EconPapers.repec.org/RePEc:bis:bisqtr:1912k

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