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(FINANCE) department of a securities firm that specializes in repurchase agreements. A repurchase [agreement] is a type of short-term loan in which a borrower sells a security (like a share of stock) and agrees to buy the same security back [in a few days]. From the point of view of the [counterparty] buying/re-selling the stock, this deal is known as a reverse-repo. Reverse-repos are useful to brokerages because they allow the brokerage to short the stock.
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