Milan, Italy is an ancient city in northern Italy first settled in about 400 BC by Celtic Insubres. The settlement was conquered by the Romans in 222 BC and renamed it Mediolanum. Diocletian divided the Roman Empire, choosing the eastern half for himself, making Milan the seat of the western half of the empire, from which Maximian ruled, in the late 3rd and early 4th century AD. In 313 AD Emperors Constantine and Licinius issued the Edict of Milan, which officially ended the persecution of Christians. In 774 AD Milan surrendered to Charlemagne and the Franks. During the middle ages the city's history was the story of the struggle between two political factions: the Guelphs and the Ghibellines. Finally the Visconti family took power (signoria) in Milan. In 1395 Emperor Wenceslas made Milan a duchy, those raising the dignity of the city's citizens. In the mid-15th century the Ambrosian Republic was established, taking its name from St. Ambrose, a beloved patron saint of the city. The two rival factiions worked together to create the Ambrosian Republic in Milan. However, the republic fell apart in 1450 when Milan was conquered by Francesco Sforza of the House of Sforza, which ushered Milan into becoming one of the leading cities of the Italian Renaissance. From the late 15th century until the mid 16th century Milan was involved in The Italian Wars, a series of conflicts, along with most of the city-states of Italy, the Papal States, the Republic of Venice and later most of Western Europe. In 1629 The Great Plague of Milan killed about 60,000 people our of a total population of about 130,000, by 1631 when the plague subsided. This even is considered one of the last great outbreaks of what was a pandemic that ravaged Europe for several centuries, beginning with the Black Death. In 1713-1714 treaties gave sovereignty to Austria over most of Spain's Italian possessions, including Lombardy and its capital, Milan. Napoleon invaded Italy in 1796, and later declared Milan the capital of the Kingdom of Italy. After Napoleon's occupation ended the Congress of Vienna returned Lombardy and Milan to Austrian control in 1815. This is the period when Milan became a center for lyric opera. The Milanese staged a rebellion against Austrian rule on 18 March 1848. The Kingdom of Sardinia joined the rebels, and a vote was held in Lombardy which voted to unify with Sardinia. The Austrians defeated the Sardinians on 24 July and reasserted their domination over Milan and northern Italy. Just a few years later another insurgency by Italian nationalists succeeded to oust the Austrians with the help of Sardinia and France in 1859. Following the Battle of Solferino Milan and the rest of Lombardy joined the Kingdom of Sardinia, which soon achieved control of most of Italy. In 1861 the re-unified city-states and kingdoms became the Kingdom of Italy once again. With the unification of the country Milan became the dominant commercial center of northern Italy. In 1919 Benito Mussolini rallied the Blackshirts for the first time in Milan, and later they began their March on Rome from Milan. During World War II Milan was extensively damaged by Allied bombings. Upon the surrender of Italy in 1943 German forces occupied northern Italy until the end of the war in 1945. Members of the Italian resistance in Milan took control of the city and executed Mussolini, his mistress and other leaders of his Fascist government by hanging Piazzale Loreto in Milan. Since the end of World War II Italy experienced an economic boom. From 1951 until 1967 the population of Milan grew from 1.3 million to 1.7 million. The city was reconstructed, but in the late 1960s and early 1970s the city suffered from a huge wave of street violence, labor strikes and political terrorism. During the 1980s Milan became one of the world's fashion capitals. In March 2020 Lombardy had the majority of Italy's cases of Covid-19 during the 2019-2020 worldwide coronavirus pandemic, with the highest rate of death in the world.

A repurchase agreement, also known as a repo, RP, or sale and repurchase agreement, is a form of short-term borrowing, mainly in government securities. The dealer sells the underlying security to investors and, by agreement between the two parties, buys them back shortly afterwards, usually the following day, at a slightly higher price. To understand Repo Rate in a very simple manner, read this comprehensive article on Repo Rate and Its implications on Economy.
A repurchase agreement, also known as a repo, RP, or sale and repurchase agreement, is a form of short-term borrowing, mainly in government securities. The dealer sells the underlying security to investors and, by agreement between the two parties, buys them back shortly afterwards, usually the following day, at a slightly higher price. To understand Repo Rate in a very simple manner, read this comprehensive article on Repo Rate and Its implications on Economy. The repo market is an important source of funds for large financial institutions in the non-depository banking sector, which has grown to rival the traditional depository banking sector in size. Large institutional investors such as money market mutual funds lend money to financial institutions such as investment banks, either in exchange for (or secured by) collateral, such as Treasury bonds and mortgage-backed securities held by the borrower financial institutions. An estimated $1 trillion per day in collateral value is transacted in the U.S. repo markets. In 2007-2008, a run on the repo market, in which funding for investment banks was either unavailable or at very high interest rates, was a key aspect of the subprime mortgage crisis that led to the Great Recession. During September 2019, the U.S. Federal Reserve intervened in the role of investor to provide funds in the repo markets, when overnight lending rates jumped due to a series of technical factors that had limited the supply of funds available.

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