French government bonds back about 10% of the euro zone’s €13 trillion repo market, says Daniela Gabor. That makes OATs a core funding asset, not just a fiscal tool, and could force ECB support via the TPI or another backstop.
published
French government bonds back about 10% of the euro zone’s €13 trillion repo market, says Daniela Gabor. That makes OATs a core funding asset, not just a fiscal tool, and could force ECB support via the TPI or another backstop.
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