欧洲央行试点项目允许研究人员访问机密数据,以研究中央清算在回购市场中的稳定作用. ECB pilot grants researchers access to confidential data to study central clearing's stabilizing role in repo markets.

欧洲央行启动了一项试点项目,允许研究人员获取机密的统计数据以加强经济分析. The European Central Bank launched a pilot project granting researchers access to confidential statistical data to enhance economic analysis. 另一项相关研究考察了回购市场,比较双边交易与通过中央对手进行结算的交易. A related study examines repo markets, comparing bilateral transactions with those cleared through central counterparties. 研究发现,中央清算在2020年3月COVID-19冲击等金融压力期间稳定了回购价格,通过减少个人借款人风险造成的"特殊性"差距. The research finds that central clearing stabilizes repo pricing during financial stress, such as the March 2020 COVID-19 shock, by reducing the "specialness" gap caused by individual borrower risk.