Public Debt Market Glossary

Public Debt Market Glossary

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Term repurchase transaction 
Transaction wherein the owner of the securities sells them and undertakes to buy them at a fixed price, on a certain intermediate date between that of sale and redemption. The sale of securities temporarily acquired through this type of transaction is limited to performing reverse transactions, the maturity of which does not exceed the maturity date of the first transaction.
Term transaction 
In the case of the Spanish government debt market, an outright transaction involving the transfer of an asset when five working days have elapsed since the trading date.
Third parties 

Participants in the quoted public debt market, whose holdings are entered in the securities register of a management institution.

Third-party account 
For each managing entity, the global register of government debt balances, the exact balancing entry, at all times, of the balances held therein by non-own account holders who have chosen it as their register.
Treasury bill  
A short-term fixed income security (from 3 to 18 months) issued at discount, therefore its acquisition cost is lower that the amount the investor will receive at the time of redemption. The difference between the redemption value of the bill and its acquisition cost will be the interest or yield generated.
Treasury bond  
A financial instrument or fixed-income security issued by the Treasury with a maturity of more than five years, with regular interest payments (called coupons), as opposed to Treasury bills, in which case interest is paid on maturity. The typical issuance terms are ten, fifteen and thirty years.