Respuesta :
In general, the duration of a bank's zero-coupon securities with short maturities is lower than the duration of its zero-coupon securities with long maturities.
What is zero coupon securities?
Bonds with no interest payments are those whose face value is paid back at maturity. The phrase "zero-coupon bond" refers to a bond that does not have so-called coupons or periodic interest payments like conventional bonds do. The investor of the bond receives the bond's par value when it matures. Bonds with zero coupon rates do not accrue interest throughout the course of their lifetime. Instead, buyers purchase zero-coupon bonds at a significant discount to face value, which represents the sum the buyer will get when the bond "matures" or becomes due.
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