Discussion Paper
Dealer Balance Sheet Constraints: Evidence from Dealer-Level Data across Repo Market Segments
Chabot, Lia; Cochran, Paul; Infante, Sebastian; Iorio, Benjamin (2024-09-23)
The continued growth of U.S. Treasury issuance has garnered interest in understanding dealers’ ability to intermediate the U.S. Treasury market. These trends have spurred various efforts to measure the degree to which dealer balance sheet constraints—broadly defined as restrictions on the overall size of an intermediary’s balance sheet—can affect the intermediation of the Treasury market.
FEDS Notes , Paper 2024-09-23