|PostgreSQL 8.2.23 Documentation|
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ROLLBACK rolls back the current transaction and causes all the updates made by the transaction to be discarded.
Use COMMIT to successfully terminate a transaction.
Issuing ROLLBACK when not inside a transaction does no harm, but it will provoke a warning message.
The SQL standard only specifies the two forms ROLLBACK and ROLLBACK WORK. Otherwise, this command is fully conforming.