ECB’s Cœuré examines trend towards secured transactions


Benoît Cœuré, a member of the European Central Bank's (ECB) executive board, today (January 16) gave a speech examining recent changes in money market functioning in Europe, which creates both costs and benefits.

Cœuré says an aversion to counterparty risk has led to an increased number of secured transactions, although a lack of data on the overall size of the repo market in Europe makes it impossible to say just how great this increase is. While this reduces counterparty risk, Cœuré warns that

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