COP

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COP

The ISO 4217 currency code for Colombian Peso.

COP

1. ISO 4217 code for the Colombian peso. Instituted in 1837, it was pegged to the U.S. dollar for a time. Since 1955, however, the peso has floated. It has gradually deteriorated in value since.

2. Certificate of Participation. An investment in which the investor purchases the right to a share of a municipality's or government entity's lease revenues instead of a bond secured by those revenues. Government entities issue COPs to avoid limitations on debt legally placed upon them. This is roughly a government entity's equivalent to accounts receivable financing. In the United States, the organizations issuing or guaranteeing COPs are Ginnie Mae, Fannie Mae, Freddie Mac, and Sallie Mae. They are also called participation certificates or PCs. See also: Lease revenue bond.

COP