tool, known as the overnight reverse repurchase (ONRRP) facility, to understand its effects on the repo market. Using … of private repo. However, we also demonstrate that cash lenders, when investing in the ONRRP, do not cease trading with … any of their dealer counterparties, highlighting the importance of lending relationships in the repo market. Lastly, using …

We examine the interaction of regulatory reforms and changes in monetary policy in the U.S. repo market. Using a … proprietary data set of repo transactions, we find that differences in regional implementation of Basel III capital reforms … intensified European dealers' window-dressing by 80%. Money funds eligible to use the Fed's reverse repo (RRP) facility cut their …