B选项为什么对？

NO.PZ2020042003000022

问题如下：

Which of the following statement about repurchase agreements is NOT correct?

选项：

The purchases price for settlement is the original invoice price plus interest at the repo rate (implied interest) on the transaction.

Lenders may initiate the reverse repo to borrow a bond and make profit through taking short positions.

Only securities of the highest credit quality are typically accepted as collateral, and repo agreements often need haircuts.

Repos are less stable than unsecured short-term borrowings because of high quality collateral.

解释：

考点：对Repurchase Agreements的理解

答案：D选项错误，本题选D

解析：

D选项描述错误，正确的表述为：Repos are more stable than unsecured short-term borrowings because of high quality collateral.

对于lender应该是long bond，不是short bond呀？B选项是不是说反了？

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DD仔_品职助教 · 2022年08月06日

嗨，努力学习的PZer你好：

同学你好，这里不能光根据reverse repo或者repo来看头寸是什么，要根据目的来判断，因为repo合约，双方在不同时间点都进行了long和short的操作。

那么reverse repo的一方是期初花钱从repo方买债券，期初是long，期末再卖回去就是short。那么reverse repo的一方并不是通过期初买债券而赚钱的，而是通过期末，以更高的价格把债券卖出去而赚钱，所以是short position这个时候在赚钱。

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努力的时光都是限量版，加油！

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B选项为什么对？

1 个答案

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