NO.PZ2020042003000022
问题如下：
Which of the following statement aboutrepurchase agreements is NOT correct?
选项：
A. The purchases price forsettlement is the original invoice price plus interest at the repo rate (impliedinterest) on the transaction.
B. Lenders may initiate thereverse repo to borrow a bond and make profit through taking short positions.
C. Only securities of thehighest credit quality are typically accepted as collateral, and repoagreements often need haircuts.
D. Reposare less stable than unsecured short-term borrowings because of high qualitycollateral.
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：Reposare more stable than unsecured short-term borrowings because of high qualitycollateral.
上清所押的信用债不是highest quality啊，C说的太绝对了，与现实不符
