Net $2.266bn US securities stripped in November

WASHINGTON: The US Treasury Department on Thursday said a net $2.266 billion of government securities were stripped in November.

Separate Trading of Registered Interest and Principal of Securities, or STRIPS, are created by separating the interest coupon from the principal payment. The coupon and principal can also be rejoined, or reconstituted.

The Treasury said $8.357 trillion in securities were eligible for stripping in November. Of the total, $196.524 billion were held in stripped form on Nov 30, compared with $194.258 billion at the end of the prior month.