Debt securities that have been transformed from a principal amount with periodic interest coupons into a series of zero-coupon securities with the range of maturities matching the coupon payment dates and the redemption date of the principal amount.
STATE OR LOCAL GENERAL GOVERNMENT
The fifty states of the United States and the District of Columbia, Puerto Rico and the U.S. territories and possessions, and their political subdivisions, including counties, municipalities, school districts, irrigation districts, and drainage and sewer districts. INCLUDES, but is not limited to the following activities that issue securities: General municipal obligation bonds; Housing/Multi-family programs (housing… Continue reading STATE OR LOCAL GENERAL GOVERNMENT
SINKING FUND DEBT or SINKER
A debt security on which the interest and principal payments are made from a sinking fund. A sinking fund is money accumulated on a regular basis in a separate custodial account that is used to retire a certain amount of the debt at specified intervals and to pay interest on the remaining principal at specified… Continue reading SINKING FUND DEBT or SINKER
SHORT-TERM DEBT SECURITY
Debt security, including negotiable money market instruments, with an original maturity of one year or less.
SHORT-TERM
Original maturity of one year or less.
SHARES or OTHER UNITS OF FUNDS
A share is a unit of equity ownership in a corporation; mutual fund; or interest, normally represented by a certificate, in a general or limited partnership. Ownership and transactions are sometimes made and priced in terms of other units, such as a “unit” of a Unit Investment Trust. In the case of Exchange-Traded-Funds, large investors… Continue reading SHARES or OTHER UNITS OF FUNDS
SETTLEMENT DATE ACCOUNTING
Under settlement date accounting, assets purchased are not recorded until settlement date. Therefore, only after receiving or sending payment for any financial instrument should the transaction or position be reported.
SETTLEMENT DATE
The date a security is delivered to the purchaser.
SECURITIES BROKERS AND DEALERS
Generally, securities brokers are entities that regularly engage in effecting securities transactions for others. A securities dealer is an entity that engages in buying securities for its own account. However, the definition of securities dealers excludes depository institutions and other institutions acting in a fiduciary capacity. (See the Securities Exchange Act for a list of… Continue reading SECURITIES BROKERS AND DEALERS
SECURITIES
Securities are any bill, note, bond, debenture, equity or similar instrument that is commonly referred to as a security, excluding certificates of deposit. (In cases where it is not clear if a specific instrument is a security, contact the Federal Reserve Bank of New York.) Securities may be negotiable (tradable in secondary markets) or non-negotiable… Continue reading SECURITIES