Buying and selling bonds with repurchase agreements

…Repurchase agreements are transactions conducted over the counter at securities companies, where the selling price (or purchase price) is determined based on the market price, but the repurchase price (or resale price) is determined by a bilateral transaction. Because repurchase agreements are bond transactions with the above conditions, they are also generally called bond transactions with repurchase (resale) conditions. Although repurchase agreements are formally bond transactions, their most distinctive function is short-term financing, and the repurchase agreement market functions as a free short-term financial market. …

*Some of the terminology used in relation to "bond purchases and sales with repurchase agreements" is listed below.

Source | Heibonsha World Encyclopedia 2nd Edition | Information

…現先売買は，証券会社の店頭で行われる取引で，売却価格(あるいは購入価格)は市場価格を基準にして決められるが，買戻価格(あるいは売戻価格)は相対（あいたい）取引によって決定される。現先は，上記のような条件を付けた債券売買であるから，一般に買戻(売戻)条件付債券売買ともいわれている。　現先は形態的には債券売買であるが，その機能は短期金融という点に最大の特色があり，現先市場は自由性短期金融市場としての機能を果たしている。…

※「買戻条件付債券売買」について言及している用語解説の一部を掲載しています。

出典｜株式会社平凡社世界大百科事典 第２版について | 情報