Public Debt Market Glossary

Public Debt Market Glossary

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Gilt-edged security  
A government debt security with annual interest payment, called a coupon, and issued for a period of between two and five years. Currently they are typically issued for periods of three to five years.
Government net borrowing/lending 

In terms of national accounts, it is the difference between the current and capital resources and employment of the government. It can also be defined as the difference between the net variation of financial assets and net variation of financial liabilities of the government. This concept does not coincide with that of cash surplus (+) or deficit (-), which emcompasses the differences between government non-financial earnings and expenditure in terms of budget settlement.