ESRB paper identifies difficulties in tracing origins of collateral
Researchers find 'opacity' in collateral reuse
An occasional paper published by the European Systemic Risk Board (ESRB) presents evidence on the ‘landscape' of the market for securities financing transactions (SFTs) in Europe.
A group of 10 researchers drawn from central banks and regulators across the European Union came together to conduct the research, publishing their findings in Securities financing transactions and the (re)use of collateral in Europe.
They find the use of SFTs among banks and non-banks is "widespread", amounting to
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