The Evolution of Repo Contracting Conventions in the 1980s

[...]This paper examines how repo contracting conventionsevolved in the 1980s. In the next section, we consider therevival of repo financing in the 1950s and the contractingconventions associated with that revival. Section 3 describeshow the rising level and volatility of interest rates and growingTreasury debt fueled a significant expansion in the size of therepo market in the 1970s and early 1980s, as well as animportant change in how market participants used repos.Existing contracting conventions proved inadequate for theexpanding and changing market. Sections 4, 5, and 6 describehow new and previously unappreciated risks led participantsto modify those conventions.[...]

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Year of publication:	2006-05-01
Authors:	Garbade, Kenneth D.
Institutions:	Federal Reserve Bank <New York, NY>
Published in:	London School of Economics and Political Science - Publications FRBNY Economic Policy Review / May 2006, pp 27-40
Subject:	Wertpapiermarkt \| stock market \| Risikomanagement \| risk management \| Insolvenz \| insolvency \| Wachstum \| Geld \| money

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Extent:	499712 bytes 16 p. application/pdf
Type of publication:	Article
Language:	English
Classification:	History of business administration ; Financial theory ; Individual Articles ; No country specification
Source:	USB Cologne (business full texts)