FRNs

E176252

FRNs are U.S. Treasury floating rate notes whose interest payments adjust periodically based on short-term interest rate benchmarks.

All labels observed (1)

Label Occurrences
FRNs canonical 1

How this entity was disambiguated

Statements (47)

Predicate Object
instanceOf U.S. Treasury security
floating rate note
auctionFrequency monthly
auctionMethod single-price auction
comparisonSecurity Treasury Inflation-Protected Securities (TIPS)
Treasury bills
Treasury notes
countryOfIssuer United States of America
surface form: United States
couponFloor may be zero if reference rate plus spread is non-positive
couponPaymentMethod electronic funds transfer
couponResetMechanism based on most recent 13-week T-bill auction
couponType floating rate
creditRiskLevel backed by full faith and credit of the U.S. government
CUSIPAssigned true
denominatedIn US dollar
surface form: U.S. dollar
documentation Treasury offering circulars
eligibleFor TreasuryDirect
commercial book-entry systems
firstIssueDate January 2014
form book-entry
governingLaw U.S. federal law
holderType individual investors
institutional investors
inflationProtection not inflation-indexed
interestPaymentBasis actual/365
interestPaymentFrequency quarterly
interestRateBenchmark 13-week Treasury bill rate
short-term interest rate
interestRateStructure spread plus reference rate
issuer United States Department of the Treasury
surface form: U.S. Department of the Treasury
liquidityLevel high
market U.S. Treasury securities
surface form: U.S. Treasury market
maturityRange 2 years
minimumDenomination 100 U.S. dollars
principalRepayment at maturity
referenceRateResetFrequency weekly
regulator United States Department of the Treasury
surface form: U.S. Department of the Treasury
riskType interest rate risk
securityClass U.S. government debt
securityType marketable Treasury security
settlement T+1 or as specified at auction
targetInvestorNeed reduced price sensitivity to rising rates
taxTreatment exempt from state and local income tax on interest
subject to federal income tax
tradableOn secondary market
useCase hedging interest rate risk
short-duration fixed income investment

How these facts were elicited

Referenced by (1)

Full triples — surface form annotated when it differs from this entity's canonical label.