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====The JC’s explanation==== | ====The JC’s explanation==== | ||
Unless you have a taste for {{tag|paradox}} (and who, in our shadow-flecked modern world doesn’t?) there’s ''no'' difference between a | Unless you have a taste for {{tag|paradox}} (and who, in our shadow-flecked modern world doesn’t?) beside the {{gmraprov|Income Payment}} [[manufacture|manufacturing]] versus {{gmraprov|Accrued Interest}} there’s ''no'' difference between a {{gmraprov|Repurchase Transaction}} and a {{gmraprov|Buy/Sell Back Transaction}}, and even seasoned industry professionals get fidgety and make their excuses to pop off to the bathroom if you ask them to give one. To the sentiment that [[buy/sell-back]]s are undocumented, the lie is somewhat given to that by the fact that the {{gmra}} expressly incoporates the {{gmraprov|Buy/Sell Back Transaction}} as a defined term ''with its own freaking Annex'', meticulously negotiated into the master by [[negotiator]]s the world over. | ||
As to ''why'' you would want to calculate your own interest accruals, extrapolating rates, applying day-count fractions and so on, in a repo arrangement where you don’t, ultimately, want to take price risk to the asset anyway, well, search me. |