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A Closer Look at the U.S. NCCBR Market

Author

Listed:
  • Ashlyn Cenicola
  • Corey Garriott

Abstract

New OFR data sheds light on the $5 trillion U.S. NCCBR market and explores its size, risks and future with central clearing (Brief no. 26-05).

Suggested Citation

  • Ashlyn Cenicola & Corey Garriott, 2026. "A Closer Look at the U.S. NCCBR Market," Briefs 26-05, Office of Financial Research, US Department of the Treasury.
    • Handle: RePEc:ofr:briefs:26-05
    as

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    File URL: https://www.financialresearch.gov/briefs/files/OFRBrief-26-05-closer-look-us-nccbr-market.pdf
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    References listed on IDEAS

    as
    1. Barth, Daniel & Kahn, R. Jay, 2025. "Hedge funds and the Treasury cash-futures basis trade," Journal of Monetary Economics, Elsevier, vol. 155(C).
    2. Samuel J. Hempel & R. Jay Kahn & Robert Mann & Mark Paddrik, 2022. "OFR’s Pilot Provides Unique Window Into the Non-centrally Cleared Bilateral Repo Market," The OFR Blog 22-09, Office of Financial Research, US Department of the Treasury.
    3. R. Jay Kahn & Luke M. Olson, 2021. "Who Participates in Cleared Repo?," Briefs 21-01, Office of Financial Research, US Department of the Treasury.
    Full references (including those not matched with items on IDEAS)

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