Wilson, Linus; Wu, Yan; Prejean, Stephanie - In: Atlantic Economic Journal 42 (2014) 1, pp. 21-38
The Term Securities Lending Facility (TSLF) lent $2.3 trillion worth of general collateral to 18 investment houses in exchange for riskier securities. Treasury collateral was in high demand in 2008 and 2009 as repo markets shunned lower quality collateral. This paper finds a negative and...
