NO.PZ2017121002000009
问题如下:
The repo margin is:
选项:
A.negotiated between counterparties.
B.established independently of market-related conditions.
C.structured on an agreement assuming equal credit risks to all counterparties.
解释:
A is correct.
Repo margins vary by transaction and are negotiated bilaterally between the counterparties.
考点:repo margin
解析:repo margin是对抵押品打的一个折扣。比如:B将债券卖给A,约定几天后从A那里以更高的价格将债券再买回来。相当于B将债券质押给A,从A那里借钱,而债券就作为抵押品。B的债券价值100,但A只能“借”出去95元。抵押品的价值大于实际借出去的金额,两者之间的差额就是这个margin。也是lender对抵押品打的折扣,因为lender害怕borrowe没有按照约定再将债券买回去。repo margin由交易双方协商确定,故A选项正确。
structured on an agreement assuming equal credit risks to all counterparties.是因为错在双方风险是不一致的吗