Strip

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In finance, one strip is one , certificate of financial flow resulting from dismemberment (in English: stripping) of another .

There are two kinds of strips:

• certificates of coupon;
• certificates of the main thing.

The dismemberment is the administrative operation which cuts out an obligation in as many transferable securities different the obligation present from flow.

Dismemberment of Government loans was introduced:

• in 1982 in the United States by the American Treasury,
• in 1991 in Europe by the French Treasury.