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The last seasonal low point for liquidity unleashed the first wave of the banking crisis.

Eurodollar University

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The Role of Netted Packages in the Treasury Repo Market

74% of all volume is transacted at zero haircut. Median haircut on Treasury collateral has held consistently at 2% for over a decade. A big chunk of that is something called netted packages, according to OFR. In effect, these netted packages facilitate trades of one Treasury against another.

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