A type of floating rate repo (variable rate repo) which is linked to a term index such as LIBOR or EURIBOR. The repo rate (underlying term rate plus or minus a spread) is paid at the end or each resetting period. An example is a repo linked to 3-month LIBOR which will pay a repo return periodically every three months. The repurchase rate is reset at the beginning of each new resetting period which is concurrent with the index re-fixing.
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