Net $1.8 bln U.S. securities reconstituted in Nov
WASHINGTON, Dec. 6 - The U.S. Treasury Department on Thursday said a net $1.8 billion of government securities were reconstituted 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 $9.33 trillion in securities were eligible for stripping in November. Of the total, $193.27 billion were held in stripped form on Nov. 30 compared with $195.04 billion at the end of the prior month.