repo

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Related to repos: repo rate

repo

1. noun Any property that has been repossessed due to unpaid debt. The lot is filled with repos that have been collected by the bank over the years and have yet to find a new owner. I was wondering why the house was so cheap, until I found out that it was a repo.
2. adjective Having to do with property that has been repossessed due to unpaid debt. You can get some really great deals on repo houses because the banks are eager to get them off their books. I thought I was saving a bunch of money buying a repo car, but it was in such terrible shape that it's actually costing me a lot more to get it up to scratch!
3. adjective Having to do with the process of repossessing property due to unpaid debt. I worked for a time as a repo man for a department store. You wouldn't believe the amount of crap people would buy on credit when they had no realistic way of paying it back. A friend of mine is a repo officer and said that she sold a motorcycle worth nearly $10,000 for just $1,200 the other day.
4. verb To repossess some piece of property due to unpaid debt. They threatened to repo my car if I didn't start meeting my monthly loan repayments. Banks actually dislike repoing houses because it reflects poorly on their accounts, so they might be willing to negotiate with you if you're having trouble paying your mortgage.

repo woman

slang A woman whose job entails repossessing property from people who have fallen into debt. I worked for a time as a repo woman for a department store. You wouldn't believe the amount of crap people would buy on credit when they had no realistic way of paying it back. I was forced to live out of my car for a few months, until a repo woman eventually came and repossessed that, too.
See also: repo, woman

repo man

slang A man whose job entails repossessing property from people who have fallen into debt. I worked for a time as a repo man for a department store. You wouldn't believe the amount of crap people would buy on credit when they had no realistic way of paying it back. I was forced to live out of my car for a few months, until the repo man eventually came and repossessed that, too.
See also: man, repo

repo officer

slang A person whose job entails repossessing property from people who have fallen into debt. I worked for a time as a repo officer for a department store. You wouldn't believe the amount of crap people would buy on credit when they had no realistic way of paying it back. I was forced to live out of my car for a few months, until the repo officer eventually came and repossessed that, too.
See also: officer, repo

repo

(ˈripo)
1. n. a repossessed car. I’d rather have a plain used car than a repo.
2. tv. to repossess a car. Some guy came around and tried to repo my car.

repo man

(ˈripo ˈmæn)
n. a man who repossesses cars for a living. I’d rather beg than get a job as a repo man.
See also: man, repo
References in periodicals archive ?
There are several reasons why it is convenient for investors and dealers to have the repos unwound in the morning.
(7) The risk of incurring these costs is likely to be a crucial determinant of the willingness of the clearing bank to unwind the repos every morning.
The process of carrying out repo transactions will be simplified in Azerbaijan, Trend reports referring to the Association of Stock Market Participants of Azerbaijan (AFBIA).
Eurex Clearings ISA Direct Model is currently offered for repos as well as OTC IRS.
Cristina Arceo, MART director and first vice president at China Bank, said the rules on short selling should be clarified to generate liquidity in the market and help revive the repo market.
Initially, there was industry resistance to the GSCC proposal for providing services for repos, primarily owing to the perception among larger primary dealers that GSCC's netting process would "level the playing field" to their disadvantage.
The Bangko Sentral ng Pilipinas (BSP) expects financial institutions to eventually be able to use their holdings of privately issued bonds to generate short term liquidity, once the so-called 'repo' market for government securities is firmly established.
According to the BSP, "the establishment of an organized interdealer repo market will aid the development and deepening of the domestic financial market.
A repo agreement typically involves the transfer of securities in exchange for cash.
Total collateral value in the tri-party repo market rose steeply after 2011, peaked toward the end of 2012, and then fell steeply.
In repos, the central bank buys securities for a definite period and sells them back on maturity.
Financial institutions that are in the business of taking positions on the direction of interest rates can use repos to build up their inventory of securities through leverage.
One improvement would be to reform the bankruptcy rules that favor repos. Another would be to increase financial institutions' capital requirements.
The foremost reason behind this change in SBP's operational framework is to avoid excessive volatility in the money market overnight repo rate as this may create disconnect between short and long-term interest rates in the economy.3
Nomura and UBS are testing a rate linked to repurchase agreements, called the GCF Repo index.