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What is a rehypothecation?

What is a rehypothecation? Here are some definitions.

Noun
  1. (finance) The pledge of hypothecated client-owned securities in a margin account to secure a bank loan; usually used for mortgages.
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Examples
Rehypothecation means that there is a money velocity associated with the collateral.
Manmohan Singh and James Aitken argue that measures of repos are significantly larger when rehypothecation is taken into account.

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