April 5, 2012 / 7:07 PM / 5 years ago

Net $815.9 mln U.S. securities stripped in March

WASHINGTON, April 5 (Reuters) - The U.S. Treasury Department said on Thursday that a net $815.9 million of government securities were stripped in March.

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 $8.593 trillion in securities were eligible for stripping in March. Of the total, $195.92 billion were held in stripped form on March 31, compared with $195.11 billion at the end of the prior month.

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