问题如下图：
选项：这道题请问怎么理解？谢谢
A. 
B. 
C. 
解释：
李宗_品职助教 · 2018年03月16日
这道题考察repo margin 的定义。Repo margin: the difference between the market value of the security used as collateral and the value of the loan.
repo margin是双边谈判的结构，主要受到一下因素影响：
The rope margin is lower when:
The shorter the repurchase agreement, the lower the repo margin.
The higher the quality of the collateral, the lower the repo margin.
The higher the creditworthiness of the counterparty, the lower the repo margin.
Repo margins are lower if the collateral is in short supply or if there is a high demand for it.
NO.PZ2017121002000009 问题如下 The repo margin is: A.negotiatebetween counterparties. B.establisheinpenntly of market-relatecontions. C.structureon agreement assuming equcret risks to all counterparties. A is correct.Repo margins vary transaction anare negotiatebilaterally 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lenr对抵押品打的折扣，因为lenr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正确。 structureon agreement assuming equcret risks to all counterparties.是因为错在双方风险是不一致的吗
NO.PZ2017121002000009问题如下 The repo margin is:A.negotiatebetween counterparties.B.establisheinpenntly of market-relatecontions.C.structureon agreement assuming equcret risks to all counterparties. A is correct.Repo margins vary transaction anare negotiatebilaterally 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lenr对抵押品打的折扣，因为lenr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正确。 这个A翻译成什么啊？答案能看懂，repo margin也能理解，但是不懂为什么选A？
NO.PZ2017121002000009 问题如下 The repo margin is: A.negotiatebetween counterparties. B.establisheinpenntly of market-relatecontions. C.structureon agreement assuming equcret risks to all counterparties. A is correct.Repo margins vary transaction anare negotiatebilaterally 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lenr对抵押品打的折扣，因为lenr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正确。 这题还在考纲里吗？听强化课没有提到这个点
establisheinpenntly of market-relatecontions. structureon agreement assuming equcret risks to all counterparties. A is correct. Repo margins vary transaction anare negotiatebilaterally between the counterparties.能一下这个margin吗？已有的那个解答看不太懂啊
老师，请问下Repo Margin这个知识点在讲义中哪里有讲到，Reang43中怎么也找不到。谢谢~