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Derivatives
Equities
Repos
The word repo refers to the repurchase agreements that govern this market. Essentially it is a collaterized loan. The repo market allows banks and investors to exchange high-quality assets, usually US government bonds, for cash funding. Borrowers then repurchase the assets for a slightly higher price at an agreed date, usually the next day, creating what is in effect a short-term loan. The term repo refers to the repurchase agreements that govern this market. The market lets banks meet their short-term funding needs and is essential for the smooth operation of the dollar-based financial system.
Reference: Triparty-Repos by the NY FED, this describes the Repo Market and the various calculations and formulae that govern the yield calculation, not just tri-party.
Breaking News: In the last week of September there was a huge problem in the repo market. Lenders disappeared from the market, leaving many who wanted short term funding without takers; this created a