Secured Money Market Transactions: Trends in the Australian REPO Rate

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The repo market is an integral part of money markets that facilitates a more efficient financial system, and assists in the allocation of capital in the real economy. However, an excessive build-up of short-term leverage associated with over-reliance on repos can also be problematic, as was the case in the North Atlantic economies leading up to the 2008 financial crisis.

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This paper was presented in July 2017 at the 22nd Melbourne Money and Finance Conference (MMFC), which explored the theme: Evolutionary Trends in the Australian Financial Sector.