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Banks would also need long-term callable debt.
What about callable, convertible and floating-rate debt?
They are rated just below investment grade and are not callable until Sept. 30, 2002.
Genomic Solutions Inc., Ann Arbor, Mich., in initial public offering of 5 million callable stock shares.
All but roughly $40 billion of the $276.1 billion is callable.
A callable security can be repurchased on demand by the Treasury at a certain date before its maturity.
The sales will include as much as $30 billion of callable benchmark notes, a spokesman, Jason Lobo, said.
One small change announced was that the Treasury would now include callable Treasury securities in its buyback program.
One mother I know gently explained that Telecharge is a toll-free number, callable even from the North Pole (800-432-7250; $41.50-$136.50, plusuriousous handling fees).
The callable capital lets the bank enjoy a top-notch credit rating and borrow at favorable rates.
Fannie Mae has sold $172.5 billion in debt due in two or more years through Sept. 30 this year, including $15.8 billion in callable benchmark debt.
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