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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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Domestic Financial Markets

10 Aug 2017 SMP – August 2017
Short-term interest rates in the repurchase agreement (repo) market have also declined over recent months, although they remain high relative to OIS rates.
https://www.rba.gov.au/publications/smp/2017/aug/domestic-financial-markets.html

Box B: Recent Developments in Foreign Exchange Markets

8 May 2020 SMP – May 2020
US dollars are made available to Australian market participants through a weekly auction conducted by the Reserve Bank in the form of US dollar repurchase agreements (repos), which are provided against
https://www.rba.gov.au/publications/smp/2020/may/box-b-recent-developments-in-foreign-exchange-markets.html

Domestic Financial Conditions

10 Feb 2019 SMP – February 2019
Interest rates in bank bill, repurchase agreement (repo) and foreign exchange swap markets rose towards the end of the December quarter (Graph 3.3).
https://www.rba.gov.au/publications/smp/2019/feb/domestic-financial-conditions.html

Domestic Financial Conditions

10 May 2019 SMP – May 2019
Graph 3.2. Interest rates in the markets for bank bills, repurchase agreements (repo) and foreign exchange (FX) swaps have fallen since the beginning of the year.
https://www.rba.gov.au/publications/smp/2019/may/domestic-financial-conditions.html

Domestic Financial Conditions

6 Feb 2020 SMP – February 2020
In December, the spread between interest rates in the markets for repurchase agreements (repo) and overnight indexed swaps (OIS) increased temporarily to around 50 basis points, as demand for repo funding
https://www.rba.gov.au/publications/smp/2020/feb/domestic-financial-conditions.html

Domestic Financial Markets and Conditions

10 May 2008 SMP – May 2008
The average term of the Bank's repurchase agreements (‘repos’) with market participants increased from around 25 days prior to the market turmoil, to around 50 days late last year ... This follows the RBA's widening of the list of securities eligible
https://www.rba.gov.au/publications/smp/2008/may/dom-fin-mkts.html

International and Foreign Exchange Markets

10 Nov 2007 SMP – November 2007
The Bank's holdings of foreign exchange under swap agreements are around $3 billion, down from $47 billion at the end of the June quarter. ... This reflects a shift in domestic operations towards bank bill repurchase agreements that began during the
https://www.rba.gov.au/publications/smp/2007/nov/intl-fx-mkts.html

International and Foreign Exchange Markets

10 Feb 2008 SMP – February 2008
As discussed in Box A, this has occurred for two reasons: to accommodate the shift in domestic operations towards bank bill repurchase agreements that began during the recent turmoil in credit
https://www.rba.gov.au/publications/smp/2008/feb/intl-fx-mkts.html

Domestic Financial Markets

10 Feb 2012 SMP – February 2012
A small number of Kangaroo bonds became ineligible for sale to the Reserve Bank under repurchase agreement following S&P's downgrade of some sovereigns.
https://www.rba.gov.au/publications/smp/2012/feb/dom-fin-mkts.html

Domestic Financial Markets

10 Feb 2018 SMP – February 2018
Short-term interest rates in the repurchase agreement (repo) market increased significantly for a short period at the end of 2017 before returning to the levels that prevailed for most of
https://www.rba.gov.au/publications/smp/2018/feb/domestic-financial-markets.html