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Term of the Day
tap stock
tap
tape
Definition
noun
a
government
stock
issued
direct
to the
Bank of England
for
sale
to
investors
COMMENT
Government
stocks
are normally issued in
tranches
for sale by
tender
, but small
amounts
are kept as '
tap
stock' for direct sale to investors; the term is applied to any
government
stocks sold in this way.
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