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010   $a1-4527-1879-2
010   $a9786612842641
010   $a1-4518-7190-2
010   $a1-282-84264-1
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035   $a(EBL)1608228
035   $a(SSID)ssj0001474774
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035   $a(PQKBTitleCode)TC0001474774
035   $a(PQKBWorkID)11471460
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035   $a(OCoLC)469135319
035   $a(IMF)WPIEE2009042
035   $a(MiAaPQ)EBC1608228
035   $a(EXLCZ)993170000000055229
100   $a20041202d2009      uf         0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aDeleveraging after Lehman $eevidence from reduced rehypothecation /$fprepared by Manmohan Singh and James Aitken
205   $a1st ed.
210   $a[Washington D.C.] $cInternational Monetary Fund$d2009
215   $a1 online resource (13 p.)
225 1 $aIMF working paper ;$vWP/09/42
300   $aDescription based upon print version of record.
311   $a1-4519-1625-6 
320   $aIncludes bibliographical references.
327   $aContents; I. Introduction; II. Rehypothecation in the United States and the United Kingdom; III. Rehypothecation After Lehman's Bankruptcy; Tables; 1. Collateral Received that can be Pledged is Decreasing; 2. Securities Lending by Major Custodians; IV. Conclusion; Appendix; 1. Securities Exchange Act's Rule 15c3-3; References
330 3 $aRehypothecation is the practice that allows collateral posted by, say, a hedge fund to their prime broker to be used again as collateral by that prime broker for its own funding. In the United Kingdom, such use of a customer?s assets by a prime broker can be for an unlimited amount of the customer?s assets. And moreover, there are no customer protection rules (such as in the United States under the Securities Act of 1933). The paper shows evidence that, following Lehman?s bankruptcy, the extent of rehypothecation has declined substantially, in part because investment firms fear losing collateral if their prime broker becomes insolvent. While less rehypothecation reduces counterparty risk in the system, it also reduces market liquidity.
410  0$aIMF working paper ;$vWP/09/42.
606   $aSuretyship and guaranty
606   $aEconomic stabilization
615  0$aSuretyship and guaranty.
615  0$aEconomic stabilization.
676   $a332.112
700   $aSimha$b Manamohana$01753673
701   $aAitken$b James$0191524
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910826449803321
996   $aDeleveraging after Lehman$94204679
997   $aUNINA