Patrick Schaffner

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Schaffner
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Patrick
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    Item type:Publication,
    Euro repo market functioning: collateral is king
    (BIS, 2019-12-08)
    Schaffner, Patrick  
    ;
    Ranaldo, Angelo  
    ;
    Tsatsaronis, Kostas
    ;
    Wooldridge, Philip
    Repo markets play a major role in redistributing liquidity and collateral between financial institutions. A unique transaction-level database reveals how the euro-denominated repo market has performed since the mid-2000s. We find that the market recovered strongly from periods of intense stress, even though it remains segmented according to the home country of the collateral used. In recent years, signs of segmentation have increased as the main motivation of repo market participants has shifted from funding to the trading of collateral.
    Type:journal article
    Journal:BIS Quarterly Review
    Volume:December 2019
    URL:https://www.bis.org/publ/qtrpdf/r_qt1912k.htm
    URI:https://www.alexandria.unisg.ch/handle/20.500.14171/97957