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In a repo agreement, Bank A needs cash quickly and offers its bonds to Bank B, which has excess cash. Bank A (the dealer) sells the bonds to Bank B with an agreement to repurchase them at a higher price, usually very soon after, such as the next day. This allows Bank A to obtain the necessary cash, while Bank B earns a profit from the transaction. From Bank A's perspective, it's a repo, while from Bank B's viewpoint, it's a reverse repo, as it involves buying securities from Bank A with plans to sell them back later. Repo transactions are utilized by various entities including banks, mutual funds, hedge funds, and even central banks.
