# Repurchase (repartition)

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- Post ID: 594643
- Modified: 2023-07-25T21:12:28+00:00
- Language: en

## Definition

In the issuance of securities, the excess of the sum of the amounts subscribed over the total amount offered; in this case, it usually causes rationing, a limited allocation. - The allocation of the central bank's supply according to quotas in the event of excess demand. - When open market operations are concluded, banks' bids often exceed the volume of allotments assessed by the central bank as being in line with demand. This makes a repo necessary. - In a fixed rate tender, the ECB allots all bids at a uniform repo rate (average allotment ratio: earmarked volume divided by the total amount of bids). In a variable rate tender, only the bids at the marginal allotment rate are repaired accordingly, while all bids above that rate are allotted in full. - See issue, oversubscribed, oversubscription, allotment procedure, American. - See ECB Monthly Bulletin, July 2000, p. 40 (explaining the procedure); Deutsche Bundesbank Monthly Bulletin, August 2009, p. 29 (repatriation rate of one hundred percent during the financial crisis). Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

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