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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 NCCBR Segment Is the Largest of the Four Segments of the Repo Market

The Uradall system is already opaque, difficult to peer into and bilateral repo is likewise. Even the traders who conduct business in this market every day may have little direct visibility into the competitive landscape. This opacity persist despite the fact that the estimated size of primary dealer activity in the NCCBR segment exceeds 2 trillion outstanding. And again, it's not just primary dealers. We're looking at primary dealers as a sort of window into the wider bilateral opaque marketplace.

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