You are kindly invited to de Economics Department's seminar, where it will be presented the article called "Liquidity Management of Bank-Affiliated Broker Dealers: The Role of Internal Repo Market".

Presents: Sebastián Infante, Federal Reserve Board, USA.

This paper studies the role of internal repo markets to intermediate funding between counterparties affiliated with the same bank holding company (BHC). Using confidential transaction-level data, we find that Treasury repo rates between affiliated entities are significantly higher than those between unaffiliated parties—a phenomenon we label the affiliated premium.

The event will be held in the H-103 classroom.

Kind regards,

Research Direction