NO.PZ2020042003000024
问题如下:
Which of the following statement about
repurchase agreements is NOT correct?
选项:
A. Repurchase agreements or repos are matched
pairs of the spot sale and forward repurchase of a security.
The forward repurchase price of the security
is determined at the end of the agreement.
Repo investments pay a short-term rate without
sacrificing much liquidity or incurring significant default risk.
In some cases, the repo agreements may also request a margin call from borrowers. When collateral declines in value, additional collateral is needed, when market outperforms, excess collateral can be withdrawn.
解释:
考点:对Repurchase Agreements的理解
答案:选项B描述错误,本题选B
解析:
B选项错误,在Repos中,未来的Repurchase price在期初就已约定好:Both the spot
and forward price are agreed now, and the difference between them implies an
interest rate.
Repo investments pay a short-term rate without sacrificing much liquidity or incurring significant default risk.
这句话怎么理解呀?我看之前两位老师给出的解答。。。似乎不太是一个意思。。。
求clarification呀!~~
【repo 的 investor 是收到利息的,没错。C 选项这句话的主语是 repo,就是 repo 这种投资给了投资 repo 的那一方(也就是 repo 的 investor/Lendor)一个短期利息。
C选项说的是repurchase(回购)而不是reverse repurchase(逆回购)。
所以回购的投资者是抵押国债借入资金的一方,借入资金不用承担流动性风险和违约风险(逆回购方要承担)】
这两个一个收到利息。。一个借入资金(which means付出利息对吧)。。。就不太对呀。。。
所以到底C是个啥0.0
Repo investments是指融资的A还是融券的B呀?我感觉应该是融资的A吧?
那后半句without sacrificing much liquidity or incurring significant default risk咋理解捏?~~(求细讲讲~)
蟹蟹蟹蟹!!