The Depository Trust Company (“DTC”)
A central securities certificate depository through which Securities are held in book-entry only form.
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Fast Automated Securities Transfer (FAST)
Program of Depository Trust Company (DTC) with a goal of reducing certificate movement by having Bond certificates held by FAST transfer agents rather than by DTC. FAST transfer agents are typically the Paying Agent or Trustee in connection with issuance of the Bonds.
See Also
Paying Agent
The institution, often appointed in an indenture or a paying agency agreement, responsible for making payments of interest and principal to bondholders.
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Verification Report
A document that verifies the mathematical accuracy of information needed to support bond counsel’s conclusions that an advance refunding bond issue is a tax-exempt bond issue and/or that refunded bonds are defeased.