special purchase and resale agreement (SPRA)


A transaction in which the Bank of Canada purchases securities from a chartered bank and resells them to the bank the next day. This transaction puts more money into the money supply and lowers overnight interest rates.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
special offering special purpose acquisition company (SPAC)