Newly issued Treasury securities held in stripped form increased about $4.369 billion in May to a total of $203.224 billion, the Bureau of the Public Debt reported Thursday.

Through the Separate Trading of Registered Interest and Principal of Securities program, STRIPS, about $12.023 billion of Treasury securities were reconstituted in May, down about $4.639 billion from $16.662 billion in April.

Securities eligible for stripping totaled $9.783 trillion in May up about $68 billion from $9.715 trillion in April.

Some $9.580 trillion were held in unstripped form.

The STRIPS program allows investors to hold and trade the individual interest and principal components of eligible Treasury notes and bonds as separate securities.

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