Liberty Street Economics Blog on bilateral and tri-party repo haircut differences: they can't explain it. We can.
Fed's LSE blog chimes in on why not to lower Interest on Excess Reserves rate; we think they miss the point
The UK Investment Management Association wants to talk about clearing and segregation of client assets
Sovereigns and OTC Derivatives Clearing: the rules are a mess. We look at an excellent paper from BNYM.
Singh and Stella on the velocity of collateral: banks just don't trust each other. We think there is more to it.