e 2 0 N um be r 2 FRBNY Economic Policy Review / Forthcoming 1 • The 2008 failure and near-collapse of some of the largest dealer banks pointed to the com-plexity and vulnerability of the industry. • A study of dealer banks finds that their unique sources of financing are highly efficient in nor-mal times, but can experience significant and abrupt reductions in stressful times. • Dealer banks ’ sources of financing include matched-book repos, internalization, and collateral received in connection with over-the-counter derivatives trading. • Under certain circumstances, U.S. accounting rules allow dealer banks to provide financing for more positions than are reflected on their balance sheets. Accounting rules that net cer-tain collateralized...
We examine the financial conditions of dealers that participated in two of the Federal Reserve’s len...
We study the impact of collateral diversification by non-financial firms on systemic risk in a gener...
This paper investigates whether the institutional affiliation of a collateralized loan obligation (C...
e 2 0 N um be r 2 FRBNY Economic Policy Review / Forthcoming 1 • The 2008 failure and near-collapse...
The Federal Reserve collects data on the financing activities of the primary government securities d...
The 2007–09 financial crisis drew attention to the nature and consequences of connections among fina...
Large banks and dealers use and reuse collateral pledged by nonbanks, which helps lubricate the glob...
This Working Paper should not be reported as representing the views of the IMF. The views expressed ...
Abstract In this paper we study how the use of collateral is evolving under the influence of regulat...
This article examines the incentives for banks to hold various assets on their balance sheets for us...
To mitigate systemic risk, some regulators have advocated the greater use of centralized counterpart...
In this paper we study how the use of collateral is evolving under the influence of regulatory refor...
Abstract When collateral is safe, there are fewer opportunities for lenders to suffer economic losse...
At present there is sizable activity in the OTC derivatives market that is under-collateralised. The...
Prior to the global financial crisis of 2008, large dealer banks exercised strong influence over the...
We examine the financial conditions of dealers that participated in two of the Federal Reserve’s len...
We study the impact of collateral diversification by non-financial firms on systemic risk in a gener...
This paper investigates whether the institutional affiliation of a collateralized loan obligation (C...
e 2 0 N um be r 2 FRBNY Economic Policy Review / Forthcoming 1 • The 2008 failure and near-collapse...
The Federal Reserve collects data on the financing activities of the primary government securities d...
The 2007–09 financial crisis drew attention to the nature and consequences of connections among fina...
Large banks and dealers use and reuse collateral pledged by nonbanks, which helps lubricate the glob...
This Working Paper should not be reported as representing the views of the IMF. The views expressed ...
Abstract In this paper we study how the use of collateral is evolving under the influence of regulat...
This article examines the incentives for banks to hold various assets on their balance sheets for us...
To mitigate systemic risk, some regulators have advocated the greater use of centralized counterpart...
In this paper we study how the use of collateral is evolving under the influence of regulatory refor...
Abstract When collateral is safe, there are fewer opportunities for lenders to suffer economic losse...
At present there is sizable activity in the OTC derivatives market that is under-collateralised. The...
Prior to the global financial crisis of 2008, large dealer banks exercised strong influence over the...
We examine the financial conditions of dealers that participated in two of the Federal Reserve’s len...
We study the impact of collateral diversification by non-financial firms on systemic risk in a gener...
This paper investigates whether the institutional affiliation of a collateralized loan obligation (C...