Journal Article
Repurchase agreements with negative interest rates
Abstract: Contrary to popular belief, interest rates can drop below zero. From early August to mid-November of 2003, negative rates occurred on certain U.S. Treasury security repurchase agreements. An examination of the market conditions behind this development reveals why market participants are sometimes willing to pay interest on money lent.
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Bibliographic Information
Provider: Federal Reserve Bank of New York
Part of Series: Current Issues in Economics and Finance
Publication Date: 2004
Volume: 10
Issue: Apr
Order Number: 5