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In the case where Bank A needs quick cash and Bank B has excess cash, a repurchase agreement, or repo, can be utilized. Bank A, the dealer, gives bonds to Bank B with an agreement to repurchase them at a later date. Bank B provides cash to Bank A in exchange for the bonds. When the time comes, Bank A buys back the bonds at a higher price. This allows Bank A to obtain the needed cash quickly while Bank B earns a profit. Repo transactions are common among banks, mutual funds, hedge funds, and even central banks.
