State Street triples repo book to become top US fund dealer

Counterparty Radar: Pimco trades boost Boston bank as sector volumes hold steady in Q4


State Street surged to the top dealer spot for non-cleared repo trades with US retail funds after more than tripling the size of its book in the fourth quarter of 2022.

The Boston-headquartered bank added approximately $7.6 billion in volumes, a 238% increase compared to its Q3 total. All its growth came from transactions with Pimco where the bond giant pledged US Treasuries as collateral.

Pimco is the kingmaker in the space with a $53 billion book, which accounts for 47% of the repo market

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