Editing Security (finance) (section)

=== Debt ===
Debt securities may be called [[debenture]]s, [[bond (finance)|bonds]], [[Deposit (finance)|deposits]], [[Promissory note|notes]] or [[commercial paper]] depending on their maturity, collateral and other characteristics. The holder of a debt security is typically entitled to the payment of principal and interest, together with other contractual rights under the terms of the issue, such as the right to receive certain information. Debt securities are generally issued for a fixed term and redeemable by the issuer at the end of that term. Debt securities may be protected by collateral or may be unsecured, and, if they are unsecured, may be contractually "senior" to other [[unsecured debt]] meaning their holders would have a priority in a bankruptcy of the issuer. Debt that is not senior is "subordinated".

'''[[Corporate bond]]s''' represent the debt of commercial or industrial entities. Debentures have a long maturity, typically at least ten years, whereas notes have a shorter maturity. Commercial paper is a simple form of debt security that essentially represents a post-dated cheque with a maturity of not more than 270 days.

'''Money market instruments''' are short term debt instruments that may have characteristics of deposit accounts, such as [[Certificate of deposit|certificates of deposit]], [[Accelerated Return Notes (ARN)]], and certain [[bill of exchange|bills of exchange]]. They are highly liquid and are sometimes referred to as "near cash". Commercial paper is also often highly liquid.

'''Euro debt securities''' are securities issued internationally outside their domestic market in a denomination different from that of the issuer's domicile. They include eurobonds and euronotes. Eurobonds are characteristically underwritten, and not secured, and interest is paid gross. A euronote may take the form of euro-commercial paper (ECP) or euro-certificates of deposit.

'''Government bonds''' are medium or long term debt securities issued by sovereign governments or their agencies. Typically they carry a lower rate of interest than corporate bonds, and serve as a source of finance for governments. U.S. federal government bonds are called ''treasuries.'' Because of their liquidity and perceived low risk, treasuries are used to manage the money supply in the [[open market operation]]s of non-US central banks.

'''Sub-sovereign government bonds''', known in the U.S. as [[municipal bond]]s, represent the debt of state, provincial, territorial, municipal or other governmental units other than sovereign governments.

'''Supranational bonds''' represent the debt of international organizations such as the [[World Bank Group|World Bank]],<ref>{{Cite web |title=Sustainable Development Bonds |url=https://treasury.worldbank.org/en/about/unit/treasury/ibrd/ibrd-sustainable-development-bonds |access-date=2024-10-30 |website=World Bank |language=en}}</ref> the [[International Monetary Fund]],<ref>{{Cite web |title=Green Bonds, Sustainable Finance and Climate Change – IMF F&D {{!}} DECEMBER 2019 |url=https://www.imf.org/en/Publications/fandd/issues/2019/12/green-bonds-offer-lessons-for-sustainable-finance-beschloss |access-date=2024-10-30 |website=IMF |language=en}}</ref> regional [[multilateral development banks]] like the [[African Development Bank|African Development]]<ref>{{Cite web |title=Social bond of the year - supranational, sub-sovereign and agency (SSA) - African Development Bank |url=https://www.environmental-finance.com/content/awards/green-social-and-sustainability-bond-awards-2020/winners/social-bond-of-the-year-supranational-sub-sovereign-and-agency-(ssa)-african-development-bank.html |access-date=2024-10-30 |website=Environmental Finance |language=en}}</ref> Bank and the [[Asian Development Bank]],<ref>{{Cite web |last=ralph |date=2021-09-07 |title=Who We Are |url=https://www.adb.org/who-we-are |access-date=2024-10-30 |website=www.adb.org |language=en}}</ref> and others.