Repo markets: Understanding the effects of a declining Eurosystem market footprint

Repo markets: Understanding the effects of a declining Eurosystem market footprint

From ecb.europa.eu

Monetary policy and repo markets are closely connected. The removal of monetary policy accommodation and the ongoing reduction of the Eurosystem’s footprint in financial markets set in motion some forces with countervailing effects on euro area repo markets. In this blog post, we identify these opposite forces and how they have influenced the dynamics in this market segment. In doing so, we take stock of the recent past to reflect on the growing importance of repo markets as a channel for liquidity redistribution, and outline the challenges for repo markets that lie ahead in this respect. But first, what is a repo? ... (full story)

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