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Fresh cut securities

Truth:

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. 

Scam:

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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