It uses the money market to finance its budget deficit. 1. List at least three of your financial goals.Explain why it is so important to the broader economy to have an efficient and effective. Some of the common instruments of the money market are Call Money, Commercial Bills, T. Bills, Commercial Paper, Certificates of Deposits, etc. THE REPO RATE The repo market is where firms borrow and lend cash and securities short term usually overnight. Access study documents, get answers to your study questions, and connect with real tutors for F 1. V.9.1 : Money and Banking at Ashworth College. The money market involves the purchase and sale of large volumes of very short-term debt products such as overnight reserves or commercial paper.