The lockdown isn't the only reason for the current economic crisis. Look at what was happening in the repo market a few months back before Coronavirus was even a thing.
I thought the repo market was mainly due to regulation drying up liquidity in that market. It didn;t seem to me like a larger concern. What are your thoughts on it?
What regulations are you referring to? I didn't look to deeply into it but I interpreted it as companies wanting to hold cash more instead of lending because they expected a crash.