Overnight repo

Similar financial terms

Overnight position
Trader's long or short position in a currency at the end of a trading day.

Overnight delivery risk
A risk brought about because differences in time zones between settlement centers require that payment or delivery on one side of a transaction be made without knowing until the next day whether the funds have been received in an account on the other side. Particularly apparent where delivery takes place in Europe for payment in dollars in New York.

Overnight Trade
A trade which is not liquidated on the same trading day in which it was established.

Repo
A repo is a repurchase agreement. A procedure for borrowing money by selling securities to a counterparty and agreeing to buy them back later at a slightly higher price.

Repo rate
The interest rate in a repo transaction.

Annual report
Yearly record of a publicly held company's financial condition. It includes a description of the firm's operations, its balance sheet and income statement. SEC rules require that it be distributed to all shareholders. A more detailed version is called a 10-K.

Term repo
A repurchase agreement with a term of more than one day.

Reverse repo
In essence, refers to a repurchase agreement. From the customer's perspective, the customer provides a collateralized loan to the seller.

Reporting currency
The currency in which the parent firm prepares its own financial statements; that is, US dollars for a US company.

Reported factor
The pool factor as reported by the bond buyer for a given amortization period.

Open repo
A repo 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.

Fair Credit Reporting Act
A consumer protection law that regulates the disclosure of consumer credit reports by consumer/credit reporting agencies and establishes procedures for correcting mistakes on one's credit record.