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Glossary

Long-term Treasury bills of Kazakhstan (MEUKAM)

(Kazakhstan). Long-term T-bills are coupon-bearing securities. Their face value is KZT 1,000. In the Kazakh language, a long-term T-bill is called ‘Мемлекеттiк узак мерзiмдi казынашылык мiндеттеме’. Their tenors exceed 5 years. They are placed and redeemed at face value; during their tenor, they pay a return called a coupon. The calculation base for coupon calculation for long-term T-bills is 30 days in the assessment month/ 360 days in the assessment year. The coupon on long-term T-bills is paid once a year on days set by the issuer during years when long-term T-bills are outstanding. E.g. Kazakhstan, МЕUКАМ-120, 12

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