E52 - Monetary Policy

• A buoy on funding tides: How client repo demand and dealer constraints lifted CORRA

  Staff analytical paper 2026-15 Jean-Sébastien Fontaine, Neil Maru, Sofia Tchamova

  Pressures on the CORRA benchmark can emerge from the interaction of client borrowing behavior, dealer balance sheet constraints, even if the level of settlement balances is in a range deemed sufficient to meet the requirement of the payment system and the prudential demand of its members.

  Content Type(s): Staff research, Staff analytical paper JEL Code(s): E, E5, E52, G, G2, G23 Research Theme(s): Financial markets and funds management, Market functioning, Monetary policy, Monetary policy tools and implementation