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Open repo |
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Open repoA 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.Open repo Similar MatchesOpen regionalismOpen regionalismRegional economic integration that is not discriminatory against outside countries; typically, a group of countries that agrees to reduce trade barriers on an MFN basis. Adopted as a fundamental princple, but not defined, by APEC in 1989. Bergsten (1997) offers five definitions, ranging from open membership to global liberalization and trade facilitation. Open end fundOpen end fundA mutual fund, unit trust or open ended investment company (OEIC) which does not have a fixed amount of capital, but is 'open ended'. This means that the fund managers can issue new units and cancel old ones in accordance with supply and demand of investors. The significance of this is that the price of units is not buffeted by market forces (i.e. supply and demand) but stays fairly closely aligned with the net asset value of the underlying assets of the fund. That contrasts with closed end funds like investment trusts, whose share prices do go up and down according to supply and demand, and which often trade below their net asset value. ReopeningReopeningTreasury offerings of additional amounts of outstanding issues, rather than an entirely new issue. A reopened issue will always have the same maturity date, CUSIP number, and interest rate as the original issue. Federal Open Market Committee (FOMC)Federal Open Market Committee (FOMC)The body that is responsible for setting the interest rates and credit policies of the Federal Reserve System. Open ended investment companyOpen ended investment company'OEICs' are hybrid investment funds that have some of the features of an investment trust and some of a unit trust.Like investment trusts, OEICs are companies that issue shares on the London Stock Exchange, and which use the money raised from shareholders to invest in other companies. Unlike investment trusts, they are open-ended which means that when demand for the shares rises the manager just issues more shares. With an investment trust, if demand exceeds supply, the response may be a rise in the share price.The price of OEIC shares is determined rather differently. More like a unit trust, in fact, with the key factor being the value of the underlying assets of the fund. But in contrast to unit trusts, there is no bid/offer spread with OEICs, so the price of the shares should be the same whether you are buying or selling.OEICs are popular on the continent but were only launched in the UK in 1997. There are around 300 up and running, with a wide range of investment objectives. You can put an OEIC into an ISA. Further SuggestionsAre you open?Open market purchase operation Average propensity Openness Open position Open market rates Open market operation Marginal propensity to save Open Policy Opening Open outcry Average propensity to consume Copenhagen Stock Exchange Open (good till cancelled) order (GTC order) Open end fund opening sale Open end credit Held at the opening Open Open Source Open account Open Rate Opening Bank Open economy Opening sale |
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