This paper evaluates the salient forces behind a dealer-intermediary's decision to move a bilateral repo transaction … with a customer into central clearing. We provide evidence that dealers turn to sponsored repo on occasions when balance … find that sponsored repo spreads tend to be affected by a range of factors, with the three largest drivers being money …

We construct the first measure of collateral re-use at the bank and bond level for the European repo market using a … than liquidity and profit from the repo rate spread. Yet, dealers also re-use collateral to source liquidity which exposes …

In 2022, US financial regulators proposed to mandate a single central clearing mechanism for treasury bonds and repo … transactions to stabilize financial markets. The systemic risks inherent in repo markets were first highlighted by the global … structural characteristics of Korean repo markets and proposes the introduction of CCPs as a way to mitigate systemic risk. To …