REPO is an agreement on sale with option to repurchase. It is a type of banking operation in the course of which the securities are handed to the counteragent in exchange for money and in the period of time defined in agreement they are to be repurchased without fail.
The client who by agreement transfers securities gains secondary liquidity from them and does not lose control over securities. The procedure of REPO operation performance is much more easy and affordable than obtaining of bank credit.