Deleveraging after Lehman : evidence from reduced rehypothecation / prepared by Manmohan Singh and James Aitken.
Rehypothecation 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 custo...
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