CARGA_INICIAL20200609
Evolution of Spanish government debt holdings
The crisis that began in the summer of 2007 marked a turning point in the stock of Spanish government debt held by non-residents, which had increased in absolute and relative terms since the middle of the 1990’s.
Structural weaknesses of the Spanish government debt repo market and their implications during the crisis
A properly functioning repo market for government debt securities is critical to the efficient and smooth functioning of the financial markets as a whole. Suitable trading, clearing, and settlement infrastructure is a crucial component of ensuring the repo market can perform its pivotal role.