WASHINGTON, Oct 4 (Reuters) - The U.S. Treasury Department on Thursday said a net $1.069 billion of government securities were stripped in September.
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 $9.07 trillion in securities were eligible for stripping in September. Of the total, $191.748 billion were held in stripped form on Sept. 30, compared with $190.679 billion at the end of the prior month.