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certificates of accrual on treasury securities

certificates of accrual on treasury securities definition - finance

Zero-coupon instruments created by stripping U.S. Treasury securities. Also may be called STRIPS or Stripped Treasury Securities, although zero-coupon bonds were created and issued by broker/
dealers before the U.S. Treasury Department started its STRIPS program in 1985. CATS were issued by Salomon Brothers, which is now part of Citigroup Inc.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
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