Currently, 92 percent of savings bonds are purchased as paper securities.

It enables the Bank to purchase high quality sterling commercial paper securities that support the financing of working capital.

Paper securities may be a throwback to an earlier age, but the evolution of trading into a fully electronic system still has a way to go.

Issuers of interest bearing paper securities have the ability to pay the interest directly through the Austraclear system.

Kerstein said that paper securities sometimes have value, though it might be as a collectible or even a potential tax break for a loss of investment.

Dematerialization (securities) - moving from handling paper securities certificates to book form, usually electronic.

"Rather, with paper securities in such a chaotic state, having your money parked in hard goods like vintage Ferraris suddenly seems like a pretty smart idea."

This distinction is ancient and draws back to the time where foreign investors used to repatriate paper securities subscribed with issuers incorporated under a different constituency.

Downstairs, for another function of the Depository Trust, there are vaults where the actual paper securities are held for securities firms.

And securitization, whereby banks pass the loans off as paper securities, wouldn’t totally inoculate lenders from harm, MICA's Hutchinson said.

The name derives from the days before computerization, when paper bonds were physically traded; traders would literally tear the interest coupons off of paper securities for separate resale.

In an echo of the 2007 boom, loans for some private equity deals are being granted with few conditions and with debt that can pay its interest in paper securities rather than cash.

Asked whether the Canadian approach, which involved JPMorgan establishing valuations for asset-backed commercial paper securities, was an interesting model, he told the FT: "You are thinking along the right lines."

We don’t even have paper securities outstanding for that value,’’ said Mckayla Braden, senior adviser for public affairs at the Bureau of Public Debt at the US Treasury department.

There is a lot of Asian money that could and should stay in the region and help finance infrastructure, rather than going abroad and buying paper securities in currencies whose value will surely erode over time.

A trove of soggy paper securities held there by the Depository Trust & Clearing Corporation (DTCC) has been removed to a secret location for a process of "freeze-dried" restoration.

It will contribute up to $240 million to the funds if any of the funds realize a loss on the sale of, or certain other events, relating to asset-backed commercial paper securities, Legg Mason said in a statement. '

SDRT treatment of Autonomy The paper securities held in the common depositories are considered to have entered a Clearance Service: i.e. deposits of UK-chargeable securities into the common depository attract a stamp duty charge of £1.50 per £100.

When hostilities erupted, he found himself surrounded by tens of thousands of American tourists trying to get home; their paper securities and travelers' checks were not being recognized and very few of them had enough hard currency to buy passage home, even if any ships had been sailing; most voyages had been canceled.