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Debt securities are negotiable and traded on secondary markets.
They do not grant the holder any ownership rights in the issuing unit. Money market paper and, in principle, private placements are included in the debt securities statistics. The amount outstanding is the stock of securities at the end of the period. Net issues are gross issues minus redemptions during the same period. In principle, they correspond to the change in amounts outstanding between two periods, though differences may arise from valuation changes, reclassifications and other adjustments during the periods.