The Federal Reserve would step in with an offer to buy any and all Treasuries at par value.
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At present, we can have no guarantee that the sales of these bonds will occur at par value.
Portfolio loans are typically booked at par value rather than market value.
Thus if Tilton buys, holds or even originates loans at a discount of, say, 60 cents on the dollar, she is permitted to record them at par value, or 100, so long as they continue to pay interest.
Thus if Tilton buys, holds or even originates loans at a discount of, say, 80 cents on the dollar, she is permitted to record them at par value or 100, so long as they continue to pay interest.
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Alexander Hamilton, our first secretary of the Treasury, and a very good one, redeemed all of the Revolutionary War debt at par value, and he said the 'full faith and credit' of the United States must be inviolate, among other reasons because it will be necessary in a crisis to be able to borrow.
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Unnervingly for other banks, many of which carry their commercial-property loans at close to par value, Goldman marks its portfolio at half that.
The bond fell as much as 4%, or as low as 96, from its face value at par.
Lottery bonds are a type of government bond that has a chance to be randomly redeemed at a value that is higher than par value.
But for your Uncle Al living in Boca, if he is paying 20% over the value of Treasury bonds at par today to get interest payments of just 1.6%, he is going to get next to nothing in real income after inflation, and he is going to watch the value of his bond plummet once interest rates start rising again, forecast to occur by 2014.
Why he thought a discounted 3% bond was better value than a 5% bond sold at par is unclear.
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The electorate hesitates to accept flat taxes and the like at face value: Steve Forbes, flat-taxer par excellence, got nowhere in his bid for the presidency in 1996, while Bob Dole's proposal for a 15% cut in tax rates was ridiculed.
Mr. Hesse has been trying for a year or more, using various tactics and strategies, to diminish the value of Clearwire so he could acquire it at a sub par price.
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Say the rate on the Spanish bond was 5% and Corzine was able to purchase at a 10% discount to par (100) or 90% of face value.
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