Program of securities issued by the World Bank, tarting in 1986. The first amount was $481.5 million, followed by an amount of $463.5 million. Buyers can obtain maturities from 3 to over 30 years, as they choose. The program is indefinite (hence continuously offered) and of a longer term than the Bank's previous discount note system. It will extend the range of paper available in the medium-term note market (initially medium-term meant 2-4 years but now covers up to 30 years or more). Various COLTS products have been offered, including fixed rate COLTS offered at par (the conventional product of the medium-term note market), at a premium and at a discount, zero coupon COLTS, Treasury-bill based variable rate COLTS and amortizing COLTS.