Dictionary of Business Terms: participation certificate
participation certificate
certificate representing an interest in a pool of funds or in other instruments, such as a mortgage pool.
Dictionary of Finance and Investment Terms: participation certificate
participation certificate
certificate representing an interest in a pool of funds or in other instruments, such as a mortgage pool. The following quasi-governmental agencies issue and/or guarantee such certificates (also called pass-through securities): Federal Home Loan Mortgage Corporation, Federal National Mortgage Association, government national mortgage association , sallie mae.
