BTP
Business & Finance abbreviation · Bond & Fixed-Income
| Stands for | Buono del Tesoro Poliennale (Italian multi-year Treasury bond) |
|---|---|
| Categories | Business & Finance |
BTP stands for Buono del Tesoro Poliennale (Italian multi-year Treasury bond), a bond & Fixed-Income abbreviation.
Italian government bond with a maturity of more than one year, the main instrument through which Italy finances its large public debt. The spread between 10-year BTP and German Bund yields is a closely watched gauge of Italian and eurozone risk.
Example: The BTP-Bund spread jumped above 300 basis points during the 2018 budget standoff with Brussels.
Usage notes
The plural is Buoni del Tesoro Poliennali. During the 2011 debt crisis, the spread exceeded 500 basis points and contributed to the fall of Silvio Berlusconi's government. Italy also sells retail-targeted versions, such as BTP Italia and BTP Valore, directly to households.
Related abbreviations
More bond & Fixed-Income abbreviations
- AAA – Highest credit rating (triple-A)
- ABS – Asset-backed security
- AT1 – Additional Tier 1 capital
- CDO – Collateralized debt obligation
- CDS – Credit default swap
- CDX – Credit default swap index
- CLO – Collateralized loan obligation
- CMBS – Commercial mortgage-backed security
- CMO – Collateralized mortgage obligation
- CoCo – Contingent convertible bond
- CP – Commercial paper
- DV01 – Dollar value of a basis point