Business and Personal Finance Dictionary

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• CASH INSTRUMENT
  
  Financial instruments or commodities for which the value is dependent upon the term, coupon rate, or other characteristics of the instrument itself. Differs from derivative instruments, for which the value is partially dependent upon characteristics or prices of an underlying cash instrument. Cash instruments include U.S. Treasury, agency, and government sponsored enterprise securities; municipal securities and corporate securities; syndicated loans; securitized mortgages, car loans and credit card receivables, (but not collateralized mortgage obligations); and bank obligations such as negotiable certificates of deposit and banker’s acceptances. Not the same as cash market or cash market instruments.
  
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