A Closer Look at the U.S. NCCBR Market

By Ashlyn Cenicola and Corey Garriott

Published: August 18, 2026

Pie chart depicting that NCCBR accounts for about a third of the $12.7 trillion U.S. repo market

New OFR data sheds light on the $5 trillion U.S. NCCBR market and explores its size, risks and future with central clearing (Brief no. 26-05).

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