BTAN

BTAN are negotiable Evidences of indebtedness, second support of the negotiable Dette of the French State, behind OAT. They were created in 1985, when the State rationalized the structure of its debt by creating three instruments:

  • the assimilable obligation of the Treasury (OAT), long-term securities;
  • the BTAN, medium-term titles, one duration from 1 to 6 years with the emission;
  • the BTF, short-term titles, one duration lower than 1 year with the emission.

Intended de facto to the professionals of the financial markets and for collective management, the BTAN is emitted by monthly adjudication. Their incur represents approximately 190 billion euros to semi-2005, against 575 billion euros of OAT and 93 billion euros BTF.

Significance of the initials

Just as BTF, the BTAN are known only under their initials, the words having been used at the origin to compose this one, good atannual rate standardized not having makes any true significance of it. For example, the Treasury calls them, in the presentation of its good products, of the Treasury atfixed rate and annual interest (BTAN) .

See too

External bonds

France Treasure arranges, which manages the national debt

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