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In a repo agreement, Bank A, needing quick cash, transfers its bond assets to Bank B, which has excess cash. Bank A (the dealer) agrees to repurchase the bonds at a later date, typically the next day. In this transaction, Bank B provides cash to Bank A, and when Bank A buys back the bonds at a higher price, it results in a profit for Bank B. From Bank A's view, this is a repo transaction, while Bank B sees it as a reverse repo, as it intends to sell the securities back to Bank A for profit. Repo transactions are utilized by various entities, including banks, mutual funds, hedge funds, and central banks.
