What is a Tri-Party Repo (TREPS)and How Did the Market Operate?
The simplest way to understand a tri-party repo (TREPS) is to think of it as a simple repurchase agreement between two parties, where a third-party – historically a very large and reputable bank (only JPM Chase or BNY Mellon, during the time these transactions were widely common) – processes administrative work and even guarantees the …
What is a Tri-Party Repo (TREPS)and How Did the Market Operate? Read More »