Similar Search Results

Liquidity Windfalls : The Consequences of Repo Rehypothecation

Infante, Sebastian - 2019

This paper presents a model of repo intermediation in which dealers intermediate secured financing between lenders and borrowers using the same collateral. Lenders are insulated from dealers through their repo's collateral, but borrowers are exposed to dealers through the loss of their...

Persistent link: https://www.econbiz.de/10012904831

The Importance of Being Special : Repo Markets During the Crisis

Corradin, Stefano - 2017

Specialness - the premium of procuring a specific security in the repo market - increased in the second half of 2011 for Italian government bonds. We assess the impact on specialness of the outright purchase program of the Eurosystem during the same period. Bonds bought by the Eurosystem had...

Persistent link: https://www.econbiz.de/10012953479

Bankruptcy Exemption of Repo Markets : Too Much Today for Too Little Tomorrow?

Acharya, Viral V.; Anshuman, V. Ravi; Viswanathan, S. - National Bureau of Economic Research - 2024

aggregate risk …

Persistent link: https://www.econbiz.de/10014468227

Shadow Banking Regulation

Adrian, Tobias - 2012

Shadow banks conduct credit intermediation without direct, explicit access to public sources of liquidity and credit guarantees. Shadow banks contributed to the credit boom in the early 2000s and collapsed during the financial crisis of 2007-09. We review the rapidly growing literature on shadow...

Persistent link: https://www.econbiz.de/10013107493

A Proposal for the Resolution of Systemically Important Assets and Liabilities : The Case of the Repo Market

Acharya, Viral V. - 2012

focus on individual, rather than systemic, risk of financial institutions. Focusing on systemically important assets and … capable of inducing market discipline and mitigating moral hazard, but also capable of addressing the associated systemic risk …, for instance, due to the risk of fire sales of collateral assets. Furthermore, because of our focus on SIALs, our proposed …

Persistent link: https://www.econbiz.de/10013108568

Repo Collateral Fire Sales : The Effects of Exemption from Automatic Stay

Infante, Sebastian - 2013

concentrates asset ownership with firms that have preferences to hold highly leveraged positions and risk default. The premium …

Persistent link: https://www.econbiz.de/10013072713

The Run on Repo and the Liquidity Shortage Problems of the Current Global Financial Crisis : Europe vs US

Moro, Beniamino - 2013

This paper discusses several key issues regarding the current Great Crisis which spreads over two periods. The first includes the 2007-2009 subprime crisis in the US, while the second extended to a twin sovereign debt and banking crisis in Europe after 2010, and persists until now. At the core...

Persistent link: https://www.econbiz.de/10013078465

Liquidity Windfalls : The Consequences of Repo Rehypothecation

Infante, Sebastian - 2015

higher default risk are more exposed to runs by collateral providers than to runs by cash lenders, who are completely …

Persistent link: https://www.econbiz.de/10013023815

Repo over the Financial Crisis

Copeland, Adam M.; Martin, Antoine - 2021

This paper uses new data to provide a comprehensive view of repo activity during the 2007-09 financial crisis for the first time. We show that activity declined much more in the bilateral segment of the market than in the tri-party segment. Surprisingly, we find that a large share of the decline...

Persistent link: https://www.econbiz.de/10013310441

Repo Turmoil and Lessons for Liquidity Policy

Tynes, Andrew - 2021

This project considers repo market stress in September 2019. First, I find that the multiple causes of that market disruption suggest the need for more comprehensive review of liquidity policy frameworks. I then review recent proposals to prevent future repo funding disruptions, evaluating them...

Persistent link: https://www.econbiz.de/10013239208