flex repo


flex repo
A term repo/reverse transaction that allows for the investor to sell some of the collateral securities back to the borrower before the final maturity date of the transaction. Flex repos are well suited to construction projects for which bond proceeds need to be invested until payment is due for each stage of construction. Usually, the timing of the loan payments is subject to considerable uncertainty. The flex repo investment has a draw-down schedule for reducing the size of the investment; however, the investor is not required to adhere to it rigidly. In return for the added flexibility, investors in flex repos almost always receive slightly lower rates of return than investors in repos with terms that are more traditional. American Banker Glossary

Financial and business terms. 2012.

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