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  1. I don’t think that’s a ferrule. I think that’s the housing with the black peeled away. That’s exactly what brake housing looks like under the black, and it happens semi regularly on old bikes that don’t get regular maintenance

  2. It’s just an older style and way of crimping a ferrule on to the housing. Search “brake housing ferrule” for replacement. Or if you order a new brake housing kit it should come with them.

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