Term:
Foreign Interest Payment Security (FIPS)
Definition:
FIPS is an instrument in the Swiss capital market. Its features are similar to a reverse dual-currency bond that offers interest payments in a foreign currency but keeps the principal in Swiss francs.
Domain:
Finance
Source:
Coordinated Portfolio Investment Survey Guide, Second Edition, International Monetary Fund, 2002, Washington DC. Appendix VI: Definition and Description of Instruments
