This repo operation is YUGE, but the writer of the article is adding his/her numbers up wrong (and perhaps on purpose). If I lend you $50 overnight, and then y

This repo operation is YUGE, but the writer of the article is adding his/her numbers up wrong (and perhaps on purpose). If I lend you $50 overnight, and then you repay. And then I lend you another $50 overnight and you repay, most market folks would consider this $50 in credit/loans, not $100 in credit/loans.