Assimilation (finance)
See also: Assimilation
The assimilation is the technique by which obligations emitted at various times, with sometimes of the very different initial characteristics, are gathered in a single loan having same right credit and same financial flows. That makes it possible a transmitter to increase the Liquidité of a debenture while spreading out its emission in time.
The Treasury French adopted this technique in a systematic way in 1985 (see: OAT), allowing him to offer to the investors loans as liquid as those of the American Treasury, in spite of the difference in size between the two economies. It has had for summer imitated by the principal transmitters of Government loans: Germany, Belgium, the United Kingdom, Italy, Netherlands, etc, and even on the occasion by the American Treasury itself.
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