Treasury Bill

A short-term debt obligation, typically issued by governments and often sold at a discount from the par amount.

Term deposit

A fixed-term investment that requires the placement of funds into an account at a financial institution, and economically equivalent to an unsecured loan. Unlike with notice accounts, the maturity is fixed in nature.

Subordinated debt

Debt which is unsecured and/or ranks below senior debt (see Senior debt) in terms of repayment if a company falls into insolvency.

Structured debt

Debt that the lender has specifically tailored to the needs of the borrower, typically offered to large financial institutions or companies with unique or complicated financing needs who are unsatisfied with conventional financial products.


Sovereigns, Supranationals and Agencies – these entities typically issue debt to support sovereign and multilateral budgets, export financing, international development programmes and local government projects, and typically carry very strong credit...

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