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Liquidity Flows to Bank-Affiliated Broker Dealers: Insights from Volumes and Prices

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NBER2026-02-01 更新2026-02-21 收录
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Using confidential transaction-level data on overnight tri-party Treasury repo from 20182025, we study liquidity flows within bank holding companies (BHCs) between primary dealers and affiliated entities. Affiliates, especially depository institutions with abundant reserves, provide a large share of

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2026-02-01
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