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RBA Glossary definition for repurchase agreement
repurchase agreement – The vehicle whereby most Reserve Bank of Australia (RBA) domestic market operations are conducted. Repurchase agreements (usually called 'repos') involve the sale or purchase of securities with an undertaking to reverse the transaction at an agreed date in the future and at an agreed price. Repos provide flexibility in that they allow the RBA to inject liquidity on one day and withdraw it on another with a single transaction.
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The Role of Collateral in Borrowing
20 Jan 2021
RDP
2021-01
Research Discussion Paper – RDP 2021-01 The Role of Collateral in Borrowing. Nicholas Garvin, David W Hughes and José-Luis Peydró. January 2021. 1.74. MB. 1. Introduction. Throughout history financial crises have been accompanied by credit
https://www.rba.gov.au/publications/rdp/2021/2021-01/full.html
The Repo and Unsecured Markets' Reactions to Stress
20 Jan 2021
RDP
2021-01
Pairs of banks require a bilateral Global Master Repurchase Agreement (GMRA) in place before they can engage in repo with each other.
https://www.rba.gov.au/publications/rdp/2021/2021-01/the-repo-and-unsecured-markets-reactions-to-stress.html