Balance-Sheet Netting in U.S. Treasury Markets and Central Clearing
Author
Abstract
Suggested Citation
DOI: 10.17016/FEDS.2024.057
Download full text from publisher
References listed on IDEAS
- Viktoria Baklanova & Adam Copeland & Rebecca McCaughrin, 2015.
"Reference Guide to U.S. Repo and Securities Lending Markets,"
Working Papers
15-17, Office of Financial Research, US Department of the Treasury.
- Viktoria Baklanova & Adam Copeland & Rebecca McCaughrin, 2015. "Reference guide to U.S. repo and securities lending markets," Staff Reports 740, Federal Reserve Bank of New York.
- He, Zhiguo & Nagel, Stefan & Song, Zhaogang, 2022.
"Treasury inconvenience yields during the COVID-19 crisis,"
Journal of Financial Economics, Elsevier, vol. 143(1), pages 57-79.
- Zhiguo He & Stefan Nagel & Zhaogang Song, 2020. "Treasury Inconvenience Yields during the COVID-19 Crisis," Working Papers 2020-79, Becker Friedman Institute for Research In Economics.
- Zhiguo He & Stefan Nagel & Zhaogang Song, 2020. "Treasury Inconvenience Yields during the COVID-19 Crisis," NBER Working Papers 27416, National Bureau of Economic Research, Inc.
- Van Horen, Neeltje & Kotidis, Antonis, 2018.
"Repo market functioning: the role of capital regulation,"
Bank of England working papers
746, Bank of England.
- van Horen, Neeltje & Kotidis, Antonios, 2018. "Repo market functioning: The role of capital regulation," CEPR Discussion Papers 13090, C.E.P.R. Discussion Papers.
- James Egelhof & Antoine Martin & Noah Zinsmeister, 2017. "Regulatory Incentives and Quarter-End Dynamics in the Repo Market," Liberty Street Economics 20170807, Federal Reserve Bank of New York.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Hüser, Anne-Caroline & Lepore, Caterina & Veraart, Luitgard Anna Maria, 2024. "How does the repo market behave under stress? Evidence from the COVID-19 crisis," Journal of Financial Stability, Elsevier, vol. 70(C).
- Duncan, Elizabeth & Horvath, Akos & Iercosan, Diana & Loudis, Bert & Maddrey, Alice & Martinez, Francis & Mooney, Timothy & Ranish, Ben & Wang, Ke & Warusawitharana, Missaka & Wix, Carlo, 2022.
"COVID-19 as a stress test: Assessing the bank regulatory framework,"
Journal of Financial Stability, Elsevier, vol. 61(C).
- Alice Abboud & Elizabeth Duncan & Akos Horvath & Diana A. Iercosan & Bert Loudis & Francis Martinez & Timothy Mooney & Ben Ranish & Ke Wang & Missaka Warusawitharana & Carlo Wix, 2021. "COVID-19 as a Stress Test: Assessing the Bank Regulatory Framework," Finance and Economics Discussion Series 2021-024, Board of Governors of the Federal Reserve System (U.S.).
- Nina Boyarchenko & Thomas M. Eisenbach & Pooja Gupta & Or Shachar & Peter Van Tassel, 2018.
"Bank-Intermediated Arbitrage,"
Liberty Street Economics
20181018, Federal Reserve Bank of New York.
- Boyarchenko, Nina & Eisenbach, Thomas & Gupta, Pooja & Shachar, Or & Van Tassel, Peter, 2020. "Bank-Intermediated Arbitrage," CEPR Discussion Papers 15097, C.E.P.R. Discussion Papers.
- Nina Boyarchenko & Thomas M. Eisenbach & Pooja Gupta & Or Shachar & Peter Van Tassel, 2018. "Bank-intermediated arbitrage," Staff Reports 858, Federal Reserve Bank of New York.
- Fabienne Schneider, 2024. "On-the-run Premia, Settlement Fails, and Central Bank Access," Working Papers 24.05, Swiss National Bank, Study Center Gerzensee.
- Hüser, Anne-Caroline & Lepore, Caterina & Veraart, Luitgard, 2021. "How does the repo market behave under stress? Evidence from the Covid-19 crisis," Bank of England working papers 910, Bank of England, revised 18 Jun 2021.
- Hüser, Anne-Caroline & Lepore, Caterina & Veraart, Luitgard A. M., 2024. "How does the repo market behave under stress? Evidence from the COVID-19 crisis," LSE Research Online Documents on Economics 121347, London School of Economics and Political Science, LSE Library.
- Bassi, Claudio & Behn, Markus & Grill, Michael & Waibel, Martin, 2024. "Window dressing of regulatory metrics: Evidence from repo markets," Journal of Financial Intermediation, Elsevier, vol. 58(C).
- Jason Allen & Milena Wittwer, 2023.
"Centralizing Over-the-Counter Markets?,"
Journal of Political Economy, University of Chicago Press, vol. 131(12), pages 3310-3351.
- Jason Allen & Milena Wittwer, 2021. "Centralizing Over-the-Counter Markets?," Staff Working Papers 21-39, Bank of Canada.
- Zhengyang Jiang, 2024. "Exorbitant Privilege: A Safe-Asset View," CESifo Working Paper Series 11279, CESifo.
- Evangelos Salachas & Georgios P. Kouretas & Nikiforos T. Laopodis, 2024. "The term structure of interest rates and economic activity: Evidence from the COVID‐19 pandemic," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 43(4), pages 1018-1041, July.
- Robin Greenwood & Samuel Hanson & Dimitri Vayanos, 2023.
"Supply and Demand and the Term Structure of Interest Rates,"
NBER Working Papers
31879, National Bureau of Economic Research, Inc.
- Greenwood, Robin & Hanson, Samuel & Vayanos, Dimitri, 2024. "Supply and demand and the term structure of interest rates," LSE Research Online Documents on Economics 126107, London School of Economics and Political Science, LSE Library.
- Darrell Duffie & Michael Fleming & Frank Keane & Claire Nelson & Or Shachar & Peter Van Tassel, 2023.
"Dealer capacity and US Treasury market functionality,"
BIS Working Papers
1138, Bank for International Settlements.
- Darrell Duffie & Michael J. Fleming & Frank M. Keane & Claire Nelson & Or Shachar & Peter Van Tassel, 2023. "Dealer Capacity and U.S. Treasury Market Functionality," Staff Reports 1070, Federal Reserve Bank of New York.
- Vissing-Jorgensen, Annette, 2021.
"The Treasury Market in Spring 2020 and the Response of the Federal Reserve,"
Journal of Monetary Economics, Elsevier, vol. 124(C), pages 19-47.
- Annette Vissing-Jorgensen, 2021. "The Treasury Market in Spring 2020 and the Response of the Federal Reserve," NBER Working Papers 29128, National Bureau of Economic Research, Inc.
- Annette Vissing-Jørgensen, 2021. "The Treasury market in spring 2020 and the response of the Federal Reserve," BIS Working Papers 966, Bank for International Settlements.
- Vissing-Jørgensen, Annette, 2021. "The Treasury Market in Spring 2020 and the Response of the Federal Reserve," CEPR Discussion Papers 16410, C.E.P.R. Discussion Papers.
- Ambrocio, Gene & Hasan, Iftekhar & Jokivuolle, Esa & Ristolainen, Kim, 2020.
"Are bank capital requirements optimally set? Evidence from researchers’ views,"
Journal of Financial Stability, Elsevier, vol. 50(C).
- Ambrocio, Gene & Hasan, Iftekhar & Jokivuolle, Esa & Ristolainen, Kim, 2020. "Are bank capital requirements optimally set? Evidence from researchers’ views," Research Discussion Papers 10/2020, Bank of Finland.
- Nathan Foley-Fisher & Borghan Narajabad & Stephane Verani, 2016.
"Securities Lending as Wholesale Funding: Evidence from the U.S. Life Insurance Industry,"
NBER Working Papers
22774, National Bureau of Economic Research, Inc.
- Nathan Foley-Fisher & Borghan N. Narajabad & Stéphane Verani, 2016. "Securities Lending as Wholesale Funding : Evidence from the U.S. Life Insurance Industry," Finance and Economics Discussion Series 2016-050, Board of Governors of the Federal Reserve System (U.S.).
- Alyssa G. Anderson & John Kandrac, 2016. "Monetary Policy Implementation and Private Repo Displacement : Evidence from the Overnight Reverse Repurchase Facility," Finance and Economics Discussion Series 2016-096, Board of Governors of the Federal Reserve System (U.S.).
- Lewis, Brittany Almquist, 2023. "Creditor rights, collateral reuse, and credit supply," Journal of Financial Economics, Elsevier, vol. 149(3), pages 451-472.
- Bats, Joost & Hoondert, Jurian J.A., 2022. "The relationship between central bank auctions and bill market liquidity," Working Paper Series 2708, European Central Bank.
- Du, Wenxin & Hébert, Benjamin & Li, Wenhao, 2023.
"Intermediary balance sheets and the treasury yield curve,"
Journal of Financial Economics, Elsevier, vol. 150(3).
- Du, Wenxin & Hebert, Benjamin & Li, Wenhao, 2022. "Intermediary Balance Sheets and the Treasury Yield Curve," Research Papers 4036, Stanford University, Graduate School of Business.
- Wenxin Du & Benjamin M. Hébert & Wenhao Li, 2022. "Intermediary Balance Sheets and the Treasury Yield Curve," NBER Working Papers 30222, National Bureau of Economic Research, Inc.
- Wenxin Du & Benjamin Hébert & Wenhao Li, 2022. "Intermediary Balance Sheets and the Treasury Yield Curve," Staff Reports 1023, Federal Reserve Bank of New York.
- Valseth, Siri, 2023. "Repo market frictions and intermediation in electronic bond markets," UiS Working Papers in Economics and Finance 2023/1, University of Stavanger.
More about this item
Keywords
Treasury securities; Supplementary leverage ratio; Central clearing; Netting;All these keywords.
JEL classification:
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
NEP fields
This paper has been announced in the following NEP Reports:- NEP-FMK-2024-08-26 (Financial Markets)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedgfe:2024-57. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ryan Wolfslayer ; Keisha Fournillier (email available below). General contact details of provider: https://edirc.repec.org/data/frbgvus.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.