There are three main types of buyback agreements. Despite the similarities with secured loans, pensions are real purchases. However, since the buyer only has temporary ownership of the collateral, these agreements are often treated as loans for tax and accounting purposes. In the event of insolvency, investors can sell their collateral in most cases. This is another distinction between pension loans and guaranteed loans; For most secured loans, bankrupt investors would be subject to automatic suspension. These are two different direct transactions in the spot market, one for futures processing. The futures price is set in relation to the spot price to obtain a market return. The basic motivation for sales/buyouts is usually the same as for a classic repo (i.e.