Z-BOND
"Z-Bond" is a bond that is usually the last to mature or to receive payment. It is often used in Collateralized Mortgage Obligations (CMOs), wherein the interest that is supposed to be paid on Z-bonds is used for paying down principal on earlier bonds instead. Because of its nature to accrue interest rather than pay it out, Z-bond is also called an "accrual bond."
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Accumulation Area
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SEC Form DEF13E3
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Transaction
1. Deal between a buyer and a seller to exchange a product, service, or financial instrument.
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IRS Publication 596
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Depository Trust Company Tracking - DTCT
A service, used by underwriting firms, that provides a method of tracking the exact path of purchases and sales of newly issued securities.
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