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Glossary of the 1993 SNA - Definition of Term

TermDeep-discount bonds
DefinitionDeep-discount bonds are bonds under which periodic cash flows are made that cover some of the interest liability during the life of the instrument but the amount is substantially below market interest; the difference between the discounted issue price and the price at maturity is substantial and, in the SNA, that difference is treated as interest and is recorded as accruing over the life of the bond rather than when due for payment.
Paragraphs11.77.
 
It is acknowledged that this glossary uses descriptions of the OECD glossary of statistical terms, the Glossary of the System of National Accounts 1993 and the UN classifications registry.
 
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