Download This PaperThe Repurchase Agreement Refined: Gcf Repo
7 Pages Posted: 14 Mar 2005
Abstract
One of the largest and most important of the money markets is the market for repurchase agreements. In a repurchase agreement, a borrower of money effectively agrees to provide securities as collateral to the lender to mitigate credit risk. GCF Repo is a recent innovation in this market that reduces transaction costs, enhances liquidity, and facilitates the efficient use of collateral.
Keywords: repurchase agreements, RP, repo, fails, negative interest rates
JEL Classification: G28, G18, H63
Suggested Citation: Suggested Citation
Michael J. Fleming (Contact Author)
Federal Reserve Bank of New York ( email )
33 Liberty Street
New York, NY 10045
United States
212-720-6372 (Phone)
212-720-1582 (Fax)
HOME PAGE: http://www.newyorkfed.org/research/economists/fleming/
Do you have negative results from your research you’d like to share?
Recommended Papers
-
The Term Securities Lending Facility: Origin, Design, and Effects
By Michael J. Fleming, Frank M. Keane, ...
-
By Paul Lipson, Bradley Sabel, ...
-
Why is the U.S. Treasury Contemplating Becoming a Lender of Last Resort for Treasury Securities?
By Kenneth Garbade and John Kambhu
-
The Introduction of the TMPG Fails Charge for U.S. Treasury Securities
By Kenneth Garbade, Frank M. Keane, ...