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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 Zero Haircuts and Exotic Collateral in the US Repo Market

Uradall University's OFR looked at non-netted repo transactions in the U.S. It found lots of zero haircut transactions which is accommodating clients as best as possible, giving them the best possible leverage terms. There was also a lot more term repo in bilateral bespoke or non-centrally cleared bilateral repo than strictly overnight.

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