Treasury Receipt
A zero-coupon bond issued by a brokerage firm and collateralized by treasury securities held for the investor by a custodian. Investopedia Says:
In general, stripped U.S. Government bonds are referred to as Treasury receipts but are better known as TIGRS (Treasury Investment Growth Receipts), CATS (Certificates of Accrual on Treasury Securities), etc. Related Terms:
CATS
COUGRs
Custodian
TIGRS
Treasury Note
Zero-Coupon Bond |