Delivery repo

HIC repo

To-party repo

“Double dipping” is never a risk in any type of repo

innovative hybrid capital instruments with incentives to redeem

common shares issued by bank

retained earnings

stock surplus (share premium)

In the case of trading transactions, counterparty limits are to be set by the front office and issuer limits are to be set by the back office

In the case of trading transactions, counterparty and issuer limits are to be set by the credit committee

In the case of trading transactions, counterparty limits are to be set by a front office vote and market risk limits are to be set by the back office

In the case of trading transactions, counterparty limits and issuer limits are to be set by the front office

The CD yields a higher rate of return

The CD has less credit risk

The CD is a transferable instrument

The CD has a shorter range of maturities

for a short length of time, usually 30 seconds

until the price has been taken “off” by the dealer

for a short length of time, typically a matter of seconds

for a minute or two

2.338%

2.650%

2.927%

2.992%

the prime-broker and the executing dealer only

the prime-broker and the executing dealer, and between the executing dealer and the client

the prime-broker and the executing dealer, and between the prime-broker and the client

the prime-broker and the client, and between the executing dealer and the client

Bought EUR and sold USD spot, and sold FUR and bought USD forward

Bought EUR/USD spot and sold EUR/USD forward

Taken a EUR loan in exchange for making a USD loan with the same counterparly

All of the above

periodic exchange of fixed and floating payments up to and including maturity

at maturity by net payment

after maturity by exchange of fixed and floating payments

after maturity by net payment

Receives compensation if a reference interest rate falls below an agreed level

Pays compensation if a reference interest rate falls below an agreed level

Receives compensation if a reference interest rate rises above an agreed level

Pays compensation if a reference interest rate rises above an agreed level

One year

270 days

183 days

5years

Delivery repo

HlC repo

Tri-party repo

There is no real difference

Technically impossible on electronic platforms

Not an uncommon practice and something which professional dealers should be able to guard against.

Not good practice.

A criminal offence.

The dealer should not reveal his future dealing intentions to his counterparty.

The dealer should make his intention to assign clear before transacting.

The dealer should agree the method of assignment before transacting.

The counterparty should specify whether or not assignment would be acceptable in negotiations.

Any dealer as long as he/she is not a party to the trade.

Staff in the back-office.

Staff in the dealing room who are not dealing.

Any staff outside the dealing room.