Now, runs happen in spheres regulators may not fully understand, such as the repurchase agreement, or repo, market, in which investment Banks fund their day-to-day operations.

现在挤兑发生在监管者或许还不完全明白的领域，例如买回协议或回购协议，投资银行为日常运转筹集资金的市场。

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They do this in the busy repurchase (repo) market, where treasuries are sold for cash with agreement to buy them back later.

这些都是在繁忙的回购市场进行操作，在那里债券被出售以换取现金，同时按照合约规定，稍后债券要被回购。

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Repurchase agreement (also known as a repo or Sale and Repurchase agreement) allows a borrower to use a financial security as collateral for a cash loan at a fixed rate of interest.

回购协议是指以有价证券作抵押的短期资金融通，在形式上表现为附有条件的证券买卖。

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