Business and Personal Finance Dictionary

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• FLEXIBLE REPURCHASE AGREEMENT (FLEX REPO)
  
  A taxable investment provided by banks, securities firms, and insurance companies which earn a fixed or indexed rate of interest over the term. Commonly used for the investment of project funds and reserve funds in a bond financing. The investor usually has the ability to withdraw and deposit funds as needed, subject to predetermined limits-greater flexibility usually lowers the yield. Repos are usually collateralized with government or agency securities for the benefit of the investor.
  
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