The Repo

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The Repo Handbook

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Author : Moorad Choudhry
language : en
Publisher: Butterworth-Heinemann
Release Date : 2002

The Repo Handbook written by Moorad Choudhry and has been published by Butterworth-Heinemann this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.

The Repo

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Author : Bill Eidson
language : en
Publisher: Open Road Media
Release Date : 2014-04-01

The Repo written by Bill Eidson and has been published by Open Road Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-04-01 with Fiction categories.

Ex-DEA Agent Jack Merchant is living out his precarious retirement on the docks of Charlestown, Mass., surrounded by the revenge-minded dealers and punks he used to put away. All he's got is his sloop, LILA, but soon enough he gets a visit from the repo man. Except the repo man's a woman, Sarah Ballard. Her proposition: they've got a week to track down a rich couple who've disappeared with their yacht. Find it, and Merchant can keep his boat. The trouble is, they're not the only ones looking... A dark tale with enough kinks and twists to keep you guessing to the last page, THE REPO is the first book in a series featuring Jack Merchant and Sarah Ballard. "With THE REPO, the debut of his Jack Merchant-Sarah Ballard series, [Eidson] proves high praise is warranted. He writes with appealing aplomb. His dialogue has the ring of overheard conversation, and we feel the breeze and smell the sea air as his characters pursue their prey. And he manages well the stories-within-the-story, as he introduces us, in compelling detail, to Merchant and Ballard, who may need each other more than they know." —The Boston Globe “The partnership and eventual passion between Jack and Sarah, and the boat's disappearance and the demons from the past that possess both detectives merge beautifully, creating a convincing landscape of deception and self-doubt...there is promise here of a fine series to come. —The Washington Post "Eidson quickly puts his own original brand on what looks like the start of a promising series...much of the book's strength comes from the way Eidson makes [Sarah Ballard's] toughness and coldness inevitable and convincing. There are also some unusually interesting minor players and assorted villains, as well as several original and violent moments of action, many at sea." —The Chicago Tribune

Repo Handbook

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Author : Moorad Choudhry
language : en
Publisher: Elsevier
Release Date : 2002-05-21

Repo Handbook written by Moorad Choudhry and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-05-21 with Business & Economics categories.

The book features an introduction to the structure and mechanics of repo, institutional practices and real-world examples. In addition the content includes necessary supplementary material such as bank asset and liability management, trading techniques, and a range of other applications of value in the global money markets.Repo markets play a pivotal role in the world's economy. The Repo Handbook is the definitive, comprehensive guide to this most important element of the global debt capital markets. It describes the use, motivations and mechanics of the repo instrument, and features invaluable coverage of specific country markets and institutions. The reader is taken through classic repo, sell/buy backs and structured repo, as well as additional products such as the total return swap and securities lending. As important is the treatment of related areas, such as money markets, banking asset & liability management and the implied repo rate, vital to a full understanding of repo. This book is the ultimate guide for bankers, repo traders and salespersons, money market participants, corporate treasurers, debt finance professionals and is organized into three parts:Part I covers the repo instrument, and examines repo mechanics and use of repo. There is also a look at selected country repo markets around the world. Part II of the book considers the institutional treatment of repo, with chapters on risk, netting, accounting, and legal issues. There is also a chapter on equity repo. Part III looks at basis trading and the implied repo rate. This includes results of original research on the gilt bond basis, presented in accessible style. * A complete guide to repo, including introductions to money markets and bonds* Contains the author's personal anecdotes from trading* Covers every aspect of repo for all participants including legal, tax, accounting and back office

How Does The Repo Market Behave Under Stress Evidence From The Covid 19 Crisis

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Author : International Monetary Fund (IMF)
language : en
Publisher: International Monetary Fund
Release Date : 2021-11-05

How Does The Repo Market Behave Under Stress Evidence From The Covid 19 Crisis written by International Monetary Fund (IMF) and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-05 with Business & Economics categories.

We examine how the repo market operates during liquidity stress by applying network analysis to novel transaction-level data of the overnight gilt repo market including the COVID-19 crisis. During this crisis, the repo network becomes more connected, with most institutions relying on existing trade relationships to transact. There are however significant changes in the repo volumes and spreads during the stress relative to normal times. We find a significant increase in volumes traded in the cleared segment of the market. This reflects a preference for dealers and banks to transact in the cleared rather than the bilateral segment. Funding decreases towards non-banks, only increasing for hedge funds. Further, spreads are higher when dealers and banks lend to rather than borrow from non-banks. Our results can inform the policy debate around the behaviour of banks and non-banks in recent liquidity stress and on widening participation in CCPs by nonbanks.

The Repo Handbook

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Author : Moorad Choudhry
language : en
Publisher: Butterworth-Heinemann
Release Date : 2010-04-06

The Repo Handbook, 2nd edition presents an overview of repo vehicles and markets with sufficient depth for those seeking detailed explanations. In three parts it demonstrates how these secured loans fit into global capital markets and why they account for up to 50% of daily settlement activity in non-US government bonds worldwide. This new edition replaces old examples and introduces new developments, such as structured finance repo and associated topics such as Basel II regulatory rules. In addition, 12 of 18 chapters feature new sections and 4 have been substantially rewritten. The UK gilt and US Treasury repo markets are explored through worked examples, and there are new sections on funding arbitrage trades, risk exposures, and regulatory capital. It also places repo in context within bank asset-liability management and trading techniques, illustrating repo use across a wide range of applications in the global money markets. Rarely mentioned in the financial press because of the simple, straightforward nature of the instrument, repo was often the only funding source available to banks during the last quarter of 2008 and the first in 2009. This book, written by a trader, will draw new attention to this valuable and efficient funding and investment product. * Describes repo instruments, which appeal to market participants because of their simplicity and malleability * Explains the institutional treatment of repos, especially in terms of risk, accounting, tax and legal issues, and equity repo * Details the government bond basis, implied repo rate, and basis trading

The Repo Market

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Author : Scott Skyrm
language : en
Publisher:
Release Date : 2023-05

The Repo Market written by Scott Skyrm and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-05 with categories.

The Repo As A Part Of Shadow Banking An Empirical And Regulatory Discussion

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Author : Sebastian Bieder
language : en
Publisher: GRIN Verlag
Release Date : 2015-06-17

The Repo As A Part Of Shadow Banking An Empirical And Regulatory Discussion written by Sebastian Bieder and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-17 with Business & Economics categories.

Scientific Essay from the year 2014 in the subject Economics - Macro-economics, general, grade: 1,5, University of Innsbruck (Banking and Finance), language: English, abstract: Repos are not only one of the financial instruments with crucial importance for funding. They primarily played a significant role to the recent financial crisis as well. Hence, the question is, whether Basel III and the Dodd-Frank Act successfully mitigate instabilities in repo markets. Within this analysis and by reviewing key studies, I am going to explain two statements: Firstly, how Gorton and Metrick (2012) empirically verified that the repo functioned as a crisis trigger, and secondly, how Valderrama (2010) modeled an economic framework to deduce several constrictions for regulators. These researches build the base for the evaluation of repo regulations. I explain why capital requirements and CCPs are the most effective preventive policies to reduce both counterparty credit risk and systemic liquidity risk associated with repos. Under a libertarian evaluation approach, specifically the CCP framework constitutes an effective element and starting point for regulatory haircuts and liquidity ratios.

Analysis And Evaluation Of The Eurex Repo Market Model

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Author : Monika Gruber
language : en
Publisher: diplom.de
Release Date : 2005-01-19

Analysis And Evaluation Of The Eurex Repo Market Model written by Monika Gruber and has been published by diplom.de this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-01-19 with Business & Economics categories.

Inhaltsangabe:Abstract: The first cross-border merger of exchanges in Europe, in 1999, happened even across the borders of the EU when the national derivatives markets of Germany and Switzerland created Eurex. In 2000, Euronext, the second big merger project, became reality. The Exchanges of Amsterdam, Paris and Brussels created a new joint platform with corporate structure. Norex, Virt-X, Newex are further merger projects. During the last decade, not only the institutional framework of exchanges has changed, but also the popularity of different products that are traded on the new platforms. Currently the derivatives market, in particular the trading with repurchase agreements, experiences major growth in Europe as well as in the U.S. The Eurex Repo platform observes a steady increase of outstanding volume, due to the fact that Eurex Repo is the only electronic market that offers repo transactions with the shortest possible term of just one night (overnight repo transaction). The goal of this paper is to analyse and to critically assess the Eurex Repo market model mentioned above, which is currently treated as the most efficient and successful trading platform for derivatives, with a specific focus on repurchase agreements. Chapter 2 aims to give answers to the following questions: What is a repurchase agreement? Which are the characteristics of repo markets in general? Which risks are associated with repos and how does the pricing of repos work? Which other instruments for liquidity management do exist for banks? The purpose of Chapter 3 is to give an overview of the derivatives market in general, past business methods, the intermediating role of banks and exchanges, and the dynamic development of the derivatives market. In addition, the Eurex market model will be described, as well as competing market players in Europe and the U.S. In Chapter 4, the main focus is put on the examination and evaluation of the Eurex Repo market model in order to investigate the key drivers in this model. Considering Eurex expansion to the U.S., where the originally European exchange is competing with the major North American exchange CBoT since February 2004, and the advance of Eurex main competitor Euronext, the future perspectives for the Eurex Repo market model will be explored. Inhaltsverzeichnis:Table of Contents: INDEX OF TABLESIII INDEX OF ILLUSTRATIONSIV ABBREVIATIONSV 1.INTRODUCTION1 2.THE NOTION OF REPURCHASE AGREEMENTS 3 2.1DEFINITION AND [...]

A Practical Guide To Using Repo Master Agreements

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Author : Paul C Harding
language : en
Publisher: Harriman House Limited
Release Date : 2017-02-27

A Practical Guide To Using Repo Master Agreements written by Paul C Harding and has been published by Harriman House Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-02-27 with Business & Economics categories.

Fully revised and updated third edition A Practical Guide to Using Repo Master Agreements is the essential book for all who need to know about the international repo market and its products, the important legal, credit and regulatory issues in this space, and most of all need to understand the contents of repo master agreements so that they can negotiate them safely and confidently. The book is written by two of the world’s leading commentators on the subject, Paul C Harding and Christian A Johnson and its coverage is comprehensive. This new third edition principally offers readers a detailed guide to the most widely used European and US repo master agreements through a clause-by-clause text and commentary on each master agreement. This commentary is written in clear English for a good, swift understanding of the implications of each provision. The full texts of each repo master agreement are reproduced in the appendices with the kind permission of the trade associations concerned. Triparty repo is an important part of the US repo market and clause-by-clause commentary and a full text of the Bank of New York Mellon Tri-party Custodial Repo Agreement (2016) is also provided. This third edition has been updated to include: -- The new, updated Bank of New York Mellon Tri-party Custodial Repo Agreement (2016). -- A summary of recent developments in the European and US repo markets since 2012. -- Fresh examples of clauses parties seek to negotiate in these agreements. -- A comprehensive and easy-to-navigate table of contents to find items of greatest interest quickly. This book is principally aimed at lawyers and paralegals who negotiate ICMA and SIFMA repo master agreements. Other professionals in the European and US securities markets will also find this book useful. These could include traders, credit officers and regulators as well as academics specialising in financial securities. Such professionals may work for commercial or investment banks, law firms, treasury units, central banks, pension funds and fund managers. Such is the broad potential appeal of this must-have book which caters for the novice and seasoned negotiator alike.

The Scarcity Effect Of Quantitative Easing On Repo Rates Evidence From The Euro Area

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Author : William Arrata
language : en
Publisher: International Monetary Fund
Release Date : 2018-12-07

The Scarcity Effect Of Quantitative Easing On Repo Rates Evidence From The Euro Area written by William Arrata and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-07 with Business & Economics categories.

Most short-term interest rates in the Euro area are below the European Central Bank deposit facility rate, the rate at which the central bank remunerates banks’ excess reserves. This unexpected development coincided with the start of the Public Sector Purchase Program (PSPP). In this paper, we explore empirically the interactions between the PSPP and repo rates. We document different channels through which asset purchases may affect them. Using proprietary data from PSPP purchases and repo transactions for specific (“special") securities, we assess the scarcity channel of PSPP and its impact on repo rates. We estimate that purchasing 1 percent of a bond outstanding is associated with a decline of its repo rate of 0.78 bps. Using an instrumental variable, we find that the full effect may be up to six times higher.

The Repo

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