This paper, originally released in August 1989 as part of a Federal Reserve Bank of New York series on the U ….S. securities markets, examines loans of Treasury and agency securities in the domestic market. It highlights some important … loans. While we note that this characteristic sets securities lending apart from most repurchase agreement (repo …

locally in the foreign market, arises from differences in country-level bank efficiency. Together, these two driving forces … banking relative to international banking. Its key predictions regarding the cross-country pattern of foreign bank asset and …