NO.PZ2017121002000009
问题如下：
The repo margin is:
选项：
A.negotiated between counterparties.
B.established independently of market-related conditions.
C.structured on an agreement assuming equal credit risks to all counterparties.
解释：
A is correct.
Repo margins vary by transaction and are negotiated bilaterally between the counterparties.
考点：repo margin
解析：repo margin是对抵押品打的一个折扣。比如：B将债券卖给A，约定几天后从A那里以更高的价格将债券再买回来。相当于B将债券质押给A，从A那里借钱，而债券就作为抵押品。B的债券价值100，但A只能“借”出去95元。抵押品的价值大于实际借出去的金额，两者之间的差额就是这个margin。也是lender对抵押品打的折扣，因为lender害怕borrowe没有按照约定再将债券买回去。repo margin由交易双方协商确定，故A选项正确。
structured on an agreement assuming equal credit risks to all counterparties.是因为错在双方风险是不一致的吗
