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REDs |
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See Refunding Escrow Deposits. Refunding Escrow Deposits A forward contract in which the holder is obligated to purchase a certain bond (usually a municipal bond) with a given yield at some point in the future. Until that purchase is made, the money used to purchase the RED is held in an escrow account and used to buy Treasury securities. This allows the holder of an RED to work around rules against pre-refunding of certain municipal bonds; REDs therefore have a tax advantage. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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