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Purpose credit |
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Purpose creditCredit used for the purpose of buying, carrying or trading in securities.Purpose credit Similar MatchesDual purpose fundDual purpose fundIn the US, a closed end fund with a limited life and two main classes of shares. Holders of preferred shares receive all the income. Common shareholders receive all the fund's assets at expiry after preferred shareholders have been paid their fixed redemption price. Similar to a split capital investment trust in the UK. Purpose loanPurpose loanA loan that is backed by securities and that is used to buy other securities under certain government regulations. Private purpose bondPrivate purpose bondA municipal bond allowing more than 10% of the proceeds go to private activities. Essential purpose (or function) bondEssential purpose (or function) bondSee: Public purpose bond Public purpose bondPublic purpose bondA specific type of municipal bond used to finance public projects such as roads or government buildings. Interest on municipal bonds is federal income tax-free. Further SuggestionsNonpurpose loanPurpose statement Dual purpose fund |
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