Business and Personal Finance Dictionary

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• CONTINUOUS REPO
  
  A repo/reverse repo transaction that does not have a specified term. These transactions are like a series of overnight repos renewed daily. The repo rate, the amount of funds invested, and/or the amount of collateral is adjusted each day. Continuing repos are commonly used in conjunction with bank sweep accounts. Under a continuing repo agreement, the transaction is terminated whenever either party requests termination. Also called open repos.
  
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