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GLOSSARY
TREASURY BILLS
- Underlying asset
- Amortisation of a security
- Book-entry
- Bond
- Zero coupon bond
- Government Bond
- Notional Bond
- Stripped Bond
- Exchange of debt
- Government financing capacity or need
- Maturity portfolio
- Available or registered portfolio
- Central counterparty institution
- Market makers
- Third party account
- Individual account
- Direct Accounts at the Bank of Spain
- Coupon
- Accrued coupon
- Issue
- Issue at a discount
- Managemente institution
- Fungibility
- Iberclear
- Interest
- Treasury Bills
- Liquidity
- Market brokers
- Forward market
- Blind market
- Futures market
- Options market
- Derivatives market
- Primary market
- Secondary market
- Borrowing requirement
- Placement targets
- Bovernment Bond
- Forward transaction
- Spot transaction
- Transaction with agreement to repurchase on demand
- Double transaction
- Simple transaction
- Open position
- Basis point
- Principal
- Reference
- Explicit yield
- Implicit yield
- Yield
- Repo
- Turnover
- Stripping
- Second tier
- Securities Clearing and Payment Service (SCLV)
- Bank of Spain Payment Service
- Simultaneous transaction
- Syndication
- System of provision of securities
- Strips
- Auction
- Third parties
- Account Holders
- Tranches (issue by)
- Transfer of securities
- Security
- Coupon Zero Security
- Security issued at a discount
- Repayment value
- Nominal value
- Maturity
- Residual Life
Short term public debt securities issued at a discount (the yield is established as the difference between the purchase price and the repayment price). Currently, terms of issue are twelve and eighteen months.
