Having to wait for the bonds to mature is arguably a haircut. Otherwise you can ...

gruez on March 12, 2023 | parent | context | favorite | on: Joint statement by the Department of the Treasury,...

Having to wait for the bonds to mature is arguably a haircut. Otherwise you can for example, justify a 10% haircut by saying that you can take that 10%, buy some 5 year treasuries with it, and get back your money once those bonds mature.