Collateral plays a very important role in financial markets. Without easy access to high-quality collateral, dealers … economy through increased financing costs. The role of collateral has become increasingly significant since the global … paper introduces a new measure of collateral reuse and studies the drivers of the cost of obtaining high-quality collateral …

We utilize the Eurosystem securities lending facilities as a laboratory to investigate the impact of collateral … overall activity in the repo market expands through the collateral multiplier. The improved pricing conditions alleviate … collateral scarcity and enhance market quality in both the repo and cash markets. …

study the intended and unintended consequences of asset purchases in the repo market with Bund collateral. Bunds that are …