Choi, Gongpil; Ortega, Federico; Kumar, Manmohan S. - 2021
What are the constraints that have stalled EMs efforts to reuse their securities in international financial centers? We … Eurozone collateral pool to incentivize EMs, and why many securities (e.g., BTPs, Italy) are acceptable in London but not EM … securities. Looking forward, EMs liaison with International Central Securities Depositories (ICSDs), and global banks' balance …