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Repurchase Agreement |
| A Repurchase Agreement (REPO) is a transaction in which de Bank
agrees to simultaneously sell a specific security (usually U.S. government
treasuries or mortgage-backed U.S. agency securities) to a customer, and to buy
it back at a specific later date. Both parties of the repurchase agreement will
have the same sales price, and the agreement will specify the applicable
interest rate. REPOS are available to individuals and corporations. The Bank
will give the customer the corresponding confirmation and a safekeeping receipt
describing the securities that have been assigned and segregated in the
customer's name. |
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Minimum
Amount:
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$2,000,000.00
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Minimum Term:
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7 days
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Maximum Term:
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1 year |
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These Investment Products offered by Pacific National
Bank:
(i) are not deposits insured by the FDIC;
(ii) are not obligations of Pacific National Bank;
(iii) are not guaranteed by Pacific National Bank;
(iv) involve investment risks, including the possible loss of
principal. |
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