REPO is a contract under which the seller of securities, such as Treasury Bills, agrees to buy them back at a specified time and price. Also called repurchase agreement or buyback. See REPURCHASE AGREEMENT.
TREASURY is, dependent upon usage, a. the funds of a government or institution or individual; b. the government department responsible for collecting and managing and spending public revenues; or, c. a depository (a room or building) where wealth and precious objects can be kept safely.
INTERNAL CONTROL WEAKNESS is a defect in the design or operation of internal controls.
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