Collateral , central bank repos , and systemic arbitrage 1 Falko Fecht Kjell G . Nyborg Jörg


Collateral, central bank repos, and systemic arbitrage Central banks have come under increasing scrutiny over the last few years, in part because of the growth in their balance sheets. Concerns have been raised by central bankers themselves that central banks are increasingly exposed to economic and political risks. It is therefore important to understand… (More)


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