Repurchase Agreement
A repurchase agreement ("repo") is a sale of securities under an agreement between the investor and dealer to repurchase the securities at a specified date with a payment of interest. The dealer sells the securities to investors and buys them back on a pre-determined basis. Because the repurchase price has already been determined at the time of selling, securities in the money market are relatively risk-free.

Reverse Repurchase Agreement
A reverse repurchase agreement is a purchase of securities under an agreement to resell. The dealer buys the securities and agree to sell in the future on a pre-determined basis.

Outright purchase or sale of short-term bills
An outright sale or purchase of short-term bill is a transaction made between the investor and the dealer and takes place before the maturity date of the underlying instruments.