Consider the following statements regarding Long-Term Repo Operations (LTRO) and Tri-party Repo (TREPS):
1. LTRO allows the banks to borrow from the central bank for a long period of more than five years.
2. LTRO was first introduced by the US Federal Bank during the Debt crisis in 2008.
3. The tri-party repo is a market instrument, unlike the central bank repo rate.
Which of the above statements is/are correct?
1
1 and 3 only
2
2 and 3 only
3
3 only
4
2 only