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Fresh Cut
Securities:
 : There
is no actual banking term such as "fresh cut securities." It is
a term widely used in the UNDERGROUND
NETWORK by those who unlearned in and unquestioning of correct
banking procedures, terminology, and documents.
 : This term is frequently used in
HIGH-YIELD INVESTMENT (Trade Program, Roll Program, Credit
Enhancement Program) parlance. It is used in conjunction with the term
CUTTING
HOUSE, and is supposed to refer to securities that have
not been SEASONED.
They are supposedly to be purchased on a FUNDS
FIRST basis, then sold in bulk to the SECONDARY
MARKET by a
TRADER
or COMMITMENT HOLDER
for enormous cumulative returns. They are also supposedly tradable through
a FORFAITING BANK.
A "fresh cut security" is merely a single financial instrument created
specifically for an individual customer on an individual basis, or newly issued
Treasury Department instruments which are available
directly from the Treasury Department, no intermediary required.
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