Authority Bond
Business / Finance / Authority Bond
Related Words
Authority Bond: A bond issued by a government agency or a corporation created to manage a revenue-producing public enterprise. The difference between an authority bond and a municipal bond is that margin pr . . . View Full Definition
Par Bond: A bond trading at its face value.
PAC Bond: Stands for Planned Amortization Class bond. A tranche class offered by some CMOs that has a sinking fund schedule and an ability to make principal payments that are not subordinated to other classes.
Passive Bond: A bond without any interest yield.
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