selling government debt (Treasury auctions) and allocating liquidity (repo auctions). Typically, either a discriminatory or a … uniform-price format in US Treasury auctions. We also apply our results to repo auctions and show that a uniform-price format … the uniform-price format by several central banks in conducting repo auctions. We also consider the question of …

The smooth functioning of the repo market is essential to financial stability. However, the market has faced repeated … episodes of stress in recent years. This paper examines the resilience of the euro-denominated repo market during recent … episodes of elevated financial stress, drawing on transaction-level data and applying network analysis. The institutional repo …

detailed data on the pricing of repurchase agreements (repo), the main contract used to provide secured funding in the money … markets, to measure by how much changes in monetary policy affect the liquidity risk premium embedded in repo pricing. The …

detailed dataset on Riksbank QE purchases, Swedish DMO SLF transactions and OTC repo deals. A theoretical model further shows … theoretically, we find that QE expansion is closely linked to higher SLF use. Narrowing spreads between SLF yields and market repo … cash-borrowing dealers' bargaining position and may reduce reliance on the repo market, with implications for market …

This paper examines whether the SEC's mandate for central clearing of U.S. Treasury repo transactions could enable all …-to-all trading and support the development of a standardized term repo market. By mitigating counterparty risk through central … structural and operational hurdles are addressed, an all-to-all term repo market could emerge - enhancing liquidity, reducing …

detailed dataset on Riksbank QE purchases, Swedish DMO SLF transactions and OTC repo deals. A theoretical model further shows … theoretically, we find that QE expansion is closely linked to higher SLF use. Narrowing spreads between SLF yields and market repo … cash-borrowing dealers' bargaining position and may reduce reliance on the repo market, with implications for market …