Deleveraging after Lehman : evidence from reduced rehypothecation /

Rehypothecation is the practice that allows collateral posted by, say, a hedge fund to their prime broker to be used again as collateral by that prime broker for its own funding. In the United Kingdom, such use of a customer's assets by a prime broker can be for an unlimited amount of the custo...

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Online Access: Full text (MCPHS users only)
Main Authors: Singh, Manmohan, 1964- (Author), Aitken, James (Author)
Corporate Author: International Monetary Fund. Monetary and Capital Markets Department
Format: Electronic eBook
Language:English
Published: [Washington, D.C.] : International Monetary Fund, 2009
Series:IMF working paper ; WP/09/42.
Subjects:
Local Note:ProQuest Ebook Central

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100 1 |a Singh, Manmohan,  |d 1964-  |e author.  |1 https://id.oclc.org/worldcat/entity/E39PCjvX6JTd99K7Dk8GKQbBGd 
245 1 0 |a Deleveraging after Lehman :  |b evidence from reduced rehypothecation /  |c prepared by Manmohan Singh and James Aitken. 
260 |a [Washington, D.C.] :  |b International Monetary Fund,  |c ©2009. 
300 |a 1 online resource (1 electronic resource (11 pages)) 
336 |a text  |b txt  |2 rdacontent 
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490 1 |a IMF working paper ;  |v WP/09/42 
500 |a At head of title: Monetary and Capital Markets Department. 
500 |a "March 2009." 
504 |a Includes bibliographical references (page 11). 
505 0 |a I. Introduction; II. Rehypothecation in the United States and the United Kingdom; III. Rehypothecation After Lehman's Bankruptcy; Tables; 1. Collateral Received that can be Pledged is Decreasing; 2. Securities Lending by Major Custodians; IV. Conclusion; Appendix; 1. Securities Exchange Act's Rule 15c3-3; References. 
520 |a Rehypothecation is the practice that allows collateral posted by, say, a hedge fund to their prime broker to be used again as collateral by that prime broker for its own funding. In the United Kingdom, such use of a customer's assets by a prime broker can be for an unlimited amount of the customer's assets. And moreover, there are no customer protection rules (such as in the United States under the Securities Act of 1933). The paper shows evidence that, following Lehman's bankruptcy, the extent of rehypothecation has declined substantially, in part because investment firms fear losing collater. 
588 0 |a Print version record. 
590 |a ProQuest Ebook Central  |b Ebook Central Academic Complete 
650 0 |a Economic stabilization. 
650 0 |a Suretyship and guaranty. 
650 7 |a bail bonds.  |2 aat 
700 1 |a Aitken, James,  |e author. 
710 2 |a International Monetary Fund.  |b Monetary and Capital Markets Department. 
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776 0 8 |i Print version:  |a Singh, Manmohan, 1964-  |t Deleveraging after Lehman.  |d [Washington, D.C.] : International Monetary Fund, ©2009  |w (OCoLC)469141977 
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