// definition
Open repo
Repurchase agreement without a fixed maturity
freshreviewed 0 days ago
Short definition
A repo agreed without a fixed end date. Either party may terminate it under the agreed notice provisions; otherwise it continues. It differs from an overnight repo that must be renewed. Funding availability therefore also depends on termination rights and replacement liquidity.
risk atlas
Knowledge map
Intuition
Funding continues until a party terminates it under the agreed notice provisions.
Related analyses
Primary sources
- FSB, how repo transactions workSection 1.1: open-term repo and notice.
- ICMA, open repo FAQContractual notice and the distinction from daily renewal.