If they sell bonds they do not own, then they can use a repurchase agreement to ensure that they will have the securities they have agreed to deliver in the future.

ECONOMIST: Repurchase agreements

As you know and have written on extensively, the ELA debt for IBRC was administered in 3 contractual arrangements between IBRC and Central Bank of Ireland, the Master Loan Repurchase Agreement (MLRA), Special Master Loan Repurchase Agreement (SMRA) and the Facility Deed (FD).

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The sale comes with the agreement that the seller will repurchase the securities at a higher price.

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Upon closing of the repurchase transaction, the Alibaba shareholders' agreement will be amended so that the parties' respective rights will be commensurate with the parties' post-closing level of ownership in Alibaba.

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The company said the loans "did not meet our standards at the time of origination, and we are pleased to have reached an appropriate agreement to collect on these repurchase requests".

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Reverse repurchase agreements involve the sale by the Fed of securities from its portfolio with an agreement to buy the securities back at a slightly higher price at a later date.

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In addition to the share repurchase, the companies have also agreed to amend their existing technology and intellectual property licensing agreement.

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