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Finance Dictionary and Glossary of Investment Terms
Open repo
Definition 1.
A repurchase agreement with no definite term. The agreement is made on a day-to-day basis, and either the borrower or the lender may choose to terminate. The rate paid is higher than on overnight repo and is subject to adjustment if rates move.
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Definition 2.
Repo which can be terminated by either party at any time, and which has an unspecified repurchase date.
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