repurchase agreement

简明释义

证券重购买协议，证券回购协议

英英释义

例句

1.Investors often use a repurchase agreement as a short-term borrowing tool.

投资者通常将回购协议作为短期借贷工具。

2.The repurchase agreement allows the lender to earn interest on the transaction.

该回购协议允许贷方从交易中获得利息。

3.In a repurchase agreement, the seller agrees to buy back the securities at a later date.

在回购协议中，卖方同意在稍后的日期回购证券。

4.During financial crises, repurchase agreements become vital for maintaining market stability.

在金融危机期间，回购协议对维持市场稳定至关重要。

5.The bank entered into a repurchase agreement to provide liquidity to the market.

银行签署了一个回购协议以向市场提供流动性。

作文

A repurchase agreement is a financial transaction in which one party sells an asset to another party with the agreement to repurchase that asset at a later date for a specified price. This mechanism is often used in the financial markets as a means of obtaining short-term capital. The repurchase agreement serves as a crucial tool for liquidity management among financial institutions, particularly banks and investment firms. It allows them to raise funds quickly by leveraging their securities, typically government bonds or other high-quality assets.The process begins when a seller, often a bank, sells securities to a buyer, such as an investor or another financial institution. The seller agrees to buy back the same securities at a predetermined price on a specified future date. This arrangement not only provides the seller with immediate cash flow but also assures the buyer that they will receive a return on their investment through the repurchase price, which is usually slightly higher than the initial sale price. The difference between these two prices represents the interest earned by the buyer during the term of the repurchase agreement.There are two main types of repurchase agreements: overnight and term agreements. An overnight repurchase agreement is one that is executed for a single day, whereas a term repurchase agreement lasts for a longer period, ranging from a few days to several weeks or even months. The choice between these two types depends on the liquidity needs of the parties involved and the prevailing market conditions.The importance of repurchase agreements cannot be overstated, especially in times of financial uncertainty. They provide a means for institutions to manage their liquidity and ensure that they have the necessary funds to meet their obligations. For instance, during the financial crisis of 2008, repurchase agreements became a vital source of funding for many banks that were facing liquidity shortages. By entering into these agreements, banks could continue to operate and lend to businesses and consumers, thus helping to stabilize the economy.Moreover, repurchase agreements also play a significant role in central banking operations. Central banks, such as the Federal Reserve in the United States, use repurchase agreements as a monetary policy tool to control money supply and influence interest rates. By conducting open market operations, central banks can inject liquidity into the financial system or withdraw it, depending on the economic conditions. This ability to manage liquidity effectively is crucial for maintaining economic stability.In conclusion, a repurchase agreement is an essential financial instrument that facilitates liquidity and helps manage short-term funding needs. Its significance extends beyond individual transactions, impacting the broader financial system and economy. Understanding how repurchase agreements work is vital for anyone involved in finance, as they represent a fundamental aspect of modern banking and monetary policy. As markets evolve, the role of repurchase agreements will likely continue to grow, making it imperative for financial professionals to stay informed about this important tool.

回购协议是一种金融交易，其中一方将资产出售给另一方，并约定在未来某个日期以指定价格回购该资产。这种机制通常在金融市场中用作获取短期资本的手段。回购协议在金融机构，特别是银行和投资公司之间的流动性管理中起着至关重要的作用。它允许他们通过利用其证券，通常是政府债券或其他高质量资产，迅速筹集资金。这个过程开始于卖方，通常是银行，将证券出售给买方，例如投资者或其他金融机构。卖方同意在预定价格和指定的未来日期回购相同的证券。这种安排不仅为卖方提供了即时现金流，还向买方保证，他们将在回购价格上获得投资回报，通常这个价格稍高于初始销售价格。这两者之间的差额代表了买方在回购协议期间赚取的利息。回购协议主要有两种类型：隔夜协议和期限协议。隔夜回购协议是指执行一天的协议，而期限回购协议则持续较长时间，从几天到几周甚至几个月。两种类型之间的选择取决于相关方的流动性需求和当前市场状况。回购协议的重要性不容小觑，尤其是在金融不确定时期。它们为机构提供了一种管理流动性的方法，确保他们拥有必要的资金来履行义务。例如，在2008年的金融危机期间，回购协议成为许多面临流动性短缺的银行的重要资金来源。通过进入这些协议，银行能够继续运营并向企业和消费者放贷，从而帮助稳定经济。此外，回购协议在中央银行操作中也发挥着重要作用。各国中央银行，如美国联邦储备系统，使用回购协议作为货币政策工具，以控制货币供应和影响利率。通过进行公开市场操作，中央银行可以根据经济条件向金融系统注入流动性或撤回流动性。这种有效管理流动性的能力对维持经济稳定至关重要。总之，回购协议是一种重要的金融工具，有助于流动性并帮助管理短期融资需求。其重要性超越了单个交易，影响了更广泛的金融体系和经济。理解回购协议的运作方式对于任何参与金融的人来说都是至关重要的，因为它们代表了现代银行和货币政策的基本方面。随着市场的发展，回购协议的作用可能会继续增长，使金融专业人士必须了解这一重要工具。