Jumbo bond (jumbo = colossus, giant)

An issue of securities for a high nominal amount, often in excess of EUR 1 bn. Jumbo bonds are mainly issued by governments and sovereign or supranational institutions, but in Europe often also by mortgage banks. They reduce issue costs and ensure high liquidity, i.e. good tradability (a jumbo issue both minimizes issue costs and increases the liquidity of the security). – See issue calendar, Jumbo Pfandbrief. – Cf. Deutsche Bundesbank Monthly Report, July 2008, p. 37 (“Country Jumbos”).

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