---
title: Pledgeable Collateral, Dealer Leverage, and Runs
url: https://www.ml-quant.com/papers/repec/bon-boncrc-crctr224-2025-783/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-10-23
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: RePEc:bon:boncrc:crctr224_2025_783
source_url: https://econpapers.repec.org/RePEc:bon:boncrc:crctr224_2025_783
featured: 2026-10-23
citations: unknown
topic: Risk, Credit & Banking
---


# Pledgeable Collateral, Dealer Leverage, and Runs

The paper shows that strengthening collateral pledgeability can paradoxically fuel leverage and instability, confirmed by exploiting the 2005 bankruptcy reform's expansion of repo safe harbors.

- Source: https://econpapers.repec.org/RePEc:bon:boncrc:crctr224_2025_783
- Identifier: RePEc:bon:boncrc:crctr224_2025_783
- Released: 2026-10-19
- First featured: Quant Letter No. 136 (2026-10-23): https://www.ml-quant.com/issues/2026-10-23/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Risk, Credit & Banking
- Authors: Husnu C. Dalgic, Brittany Almquist Lewis, Andrea Modena

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