Bank of America extends repo cash borrowing surge with Pimco
Counterparty Radar: US bank's mutual fund repo borrowing jumps five-fold in six quarters to pull away from rivals
Bank of America has expanded its repo cash borrowing from US mutual funds nearly fivefold in the past two years, with the vast majority of that coming from investment manager Pimco.
Data from Risk.net’s Counterparty Radar service shows BofA’s recent cash borrowing spree began at the end of Q3 2023, when it had a total of $5.9 billion in repo trades with US mutual funds where the bank received cash
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