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In a repurchase agreement (repo), Bank A, needing cash quickly, sells its bonds to Bank B, which has excess cash. Bank A promises to buy the bonds back at a higher price, typically the next day. This allows Bank A to access the cash it urgently needs, while Bank B earns a profit from the transaction. From Bank A's perspective, it's a repo, while for Bank B, it's a reverse repo, as they plan to sell the securities back at a profit later. Repo transactions are common among various entities, including banks, mutual funds, hedge funds, and central banks, providing a useful financial option for managing liquidity.
