Editing Repurchase agreement (section)

=== Market size ===
[[File:SOFR Rate Components.png|thumb|Composition of SOFR Rate]]

''[[The New York Times]]'' reported in September 2019 that an estimated $1 trillion per day in collateral value is transacted in the U.S. repo markets.<ref name="NYT_WSBuzz" /> The Federal Reserve Bank of New York reports daily repo collateral volume for different types of repo arrangements. As of 24 October 2019, volumes were: secured overnight financing rate ([[SOFR]]) $1,086 billion; broad general collateral rate (BGCR) $453 billion, and tri-party general collateral rate (TGCR) $425 billion.<ref name="FRBNY_Repo">{{Cite news|url= https://www.newyorkfed.org/markets/treasury-repo-reference-rates|title= Treasury Repo Reference Rates|work= [[Federal Reserve]]|access-date=26 October 2019}}</ref>  These figures however, are not additive, as the latter 2 are merely components of the former, SOFR.<ref>{{Cite web|url=https://www.newyorkfed.org/medialibrary/Microsites/arrc/files/2019/arrc_contingency_methodology.pdf|title=Reference Rate Production Update ARRC Meeting|last=Sherman|first=Scott|date=26 June 2019|website=Federal Reserve Bank of New York|access-date=21 November 2019}}</ref>

The Federal Reserve and the European Repo and Collateral Council (a body of the [[International Capital Market Association]]) have tried to estimate the size of their respective repo markets. At the end of 2004, the US repo market reached US$5 trillion. Especially in the US and to a lesser degree in Europe, the repo market contracted in 2008 as a result of the [[2008 financial crisis]]. But, by mid-2010, the market had largely recovered and, at least in Europe, had grown to exceed its pre-crisis peak.<ref name = "Gillian"/>