stripping

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Stripping

The act or practice of removing the coupons from a bond, especially a U.S. Treasury security, and trading the bond separately such that it pays no interest. Stripped bonds are sold at a significant discount from par and mature at par. They fluctuate in price, sometimes dramatically, because changes in interest rates make them more or less desirable. They can be invested in IRAs and other pension accounts; however, unlike other Treasury securities, they are subject to federal taxes. Generally speaking, stripped securities are quoted according to their yields, rather than their prices. In 1985, the U.S. Treasury began issuing its own stripped securities, called STRIPS, which replaced other vehicles, such as CATS and TIGRS, that had been issued by the Treasury and stripped by another party.

stripping

References in periodicals archive ?
1 g sample of unfertilized eggs in triplicate was taken after hand stripping of silver carp H.
Irish Terriers have a beautiful, dense and hard coat which requires time-consuming hand stripping at least twice a year.
CATERING for all breeds, Alison Rogers and her caring team are dedicated to top quality bathing, drying, clipping, hand stripping, trimming or styling your pet to the highest standard.