The largest category of liabilities of broker-dealers in 2013 was

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Securities sold under repurchase agreements are the largest category of liabilities for broker-dealers as they represent the use of borrowed funds to finance their inventory of securities. This is followed by payables to customers which include client funds held in custody, and payables to non-customers which include trade settlements and other miscellaneous payables. Bank loans payable and short positions in securities and commodities are typically smaller categories of liabilities for broker-dealers.

The Largest Category of Liabilities of Broker-Dealers in 2013 Was