Definition for : Repo, repurchase agreement

Repos are agreements under which Institutional investors or companies can exchange cash for securities for a fixed period of time. At the end of the contract, which can take various legal forms, the securities are returned to their initial owner. All title and rights to the securities are transferred to the buyer of the securities for the Duration of the contract.
(See Chapter 47 Leveraged buyouts (LBOs) of the Vernimmen)
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