Definition of "repo" []

• Informal A repurchase agreement. (noun)
• Informal Repossession of merchandise or property from a buyer who has defaulted on payment. (noun)
• Informal Repossessed merchandise or property. (noun)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

• "A repo is short for a repurchase agreement where collateral is exchanged for cash."
• "For example, the current 10-year note auctioned earlier this month was traded Friday with a term repo rate of 1.75% through March 17."
• "The new extended collateral-term repo facility has been established to offer sterling to banks for 30 days in exchange for a wide range of collateral, if liquidity conditions for trade in sterling deteriorate."