Remarks at the Securities Industry and Financial Markets Association and Pension Real Estate Association's Public …

This paper studies the risk of "fire sales" in the tri-party repo market, a large and important market where securities … sales of assets by a dealer who, facing a run that could lead to default, sells securities to generate liquidity, and fire …

.S. securities markets, examines loans of Treasury and agency securities in the domestic market. It highlights some important … institutional characteristics of securities loan transactions, in particular the common use of agents to arrange the terms of the … loans. While we note that this characteristic sets securities lending apart from most repurchase agreement (repo …

We provide an overview of data requirements necessary to monitor repurchase agreements (repos) and securities lending …

may interfere with the information content of prices. Thus, the lack of transparency in the banking industry may be a … promote the quality of security prices through information production can improve the governance of financial institutions …

' broker choice to market structure and show that the capital broker benefits customers relatively more in developed securities …

contingent claims framework in which to estimate market values of these CAP securities. The interaction between the competing … options held by the buyer and issuer of these securities creates a game between the two parties, and our approach captures …) launched together with the CAP. On average, we estimate that, compared to a market transaction, the CAP securities carry a net …

of securities, including securities that were not included in the purchase programs. These reductions in interest rates …