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PC PC Participation certificate. 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 PCs 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 PCs are Ginnie Mae, Fannie Mae, Freddie Mac, and Sallie Mae. See also: Lease revenue bond. 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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