SUBORDINATED DEBENTURE Definition

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SUBORDINATED DEBENTURE, in securities, is a debt issue whose claim on assets is subordinated to that of general creditors in the event of a liquidation, as stated in the bond indenture.

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JIAO (CHIAO) is a currency of China.

ON-THE-RUN ISSUE is the most recently issued U.S. Treasury or government agency securities. Older issues sometimes are described as "off-the-run!'

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