| || InvestHub.com's |
Finance Dictionary and Glossary of Investment Terms
A repurchase agreement with no definite term. The agreement is made on a day-to-day basis, and either the borrower or the lender may choose to terminate. The rate paid is higher than on overnight repo and is subject to adjustment if rates move.
Repo which can be terminated by either party at any time, and which has an unspecified repurchase date.