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In a scenario where Bank A needs cash quickly and Bank B has excess cash, Bank A can enter into a repurchase (repo) agreement. In this arrangement, Bank A (the dealer) sells its bonds to Bank B with the agreement to repurchase them at a later date, typically the next day, for a higher price. This provides Bank A with the immediate cash it requires, while Bank B earns a profit from the transaction. For Bank A, this is classified as a repo, while for Bank B, it is termed a reverse repo, as it involves buying securities with the plan to sell them back later at a profit. Repo transactions are utilized by various entities, including banks, mutual funds, hedge funds, and even central banks.
