Securities Finance: Securities Lending and Repurchase Agreements
In Securities Finance, editors Frank Fabozzi and Steven Mann assemble a group of prominent practitioners in the securities finance industry to provide readers with an enhanced understanding of the various arrangements in the securities finance market. Divided into three comprehensive parts—Securities Lending, Bond Financing via the Repo Market, and Equity Financing Alternatives to Securities Lending—this book covers a wide range of securities finance issues, including alternative routes to the securities lending market, evaluating risks in securities lending transactions, U.S. and European repo markets, dollar rolls and their impact on MBS valuation and strategies, derivatives for financing equity positions and equity repos, and more. Filled with in-depth insight and expert advice, Securities Finance contains the information readers need to succeed in this rapidly expanding market.
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agency agent amount arbitrage assets auction process banks basis points Bloomberg borrow securities broker CalPERS capital markets cash collateral cash flow CFDs chapter common stock corporate cost counterpart coupon rate credit risk custodian dealer default dividend dollar roll equity repo equity swaps example Exhibit Fabozzi financing fixed income securities hedge funds identical securities institutions interest rate intermediaries investment investor issue issuer lender lending program lent LIBOR liquidity risk loaned securities margin market liquidity maturity ment month mortgage-backed securities option participants passthrough security portfolio prepayment principal payments rebate received reinvestment repo market repo rate repo transaction repurchase agreement revenue Securities Finance securities lending market securities lending transactions securities loan sell settlement shares short position single-stock futures Sold bonds specified pools spread substitute payments TBA roll term tion tranche Treasury tri-party typically underlying valuation volatility yield curve