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Inside the Currency Market: Mechanics, Valuation, and Strategies
book

Inside the Currency Market: Mechanics, Valuation, and Strategies

by Brian Twomey
November 2011
Beginner
335 pages
9h 33m
English
Bloomberg Press
Content preview from Inside the Currency Market: Mechanics, Valuation, and Strategies

Great Britain

The repurchase agreement market in England is governed by the Securities Lending and Repo Committee that was established in 1990 and the sterling Money Markets Liaison Group established in 1999. New changes were implemented in the repo market that began June 15, 2010.

Bids are accepted for two types of auctions, narrow collateral and wider collateral. Wider-collateral bids are accepted for high-quality debt and are longer lending terms. Narrow collateral bids are accepted for short-term repos. Bidders can bid on each or both sets of collateral.

After the bidding process, a clearing rate is issued for wide and narrow collateral. These auctions now occur once a month for a three-month and six-month operation. Repo rates are now indexed ...

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Publisher Resources

ISBN: 9781118149331Purchase book