The Federal Government Debt
The federal government debt comprises that debt issued or taken over by the federal government, as well as the debt of other institutions whose debt service cost falls to the federal government. The debt of the federated entities such as communities and regions, of the local government and of the social security is not included in the federal government debt. Debt guaranteed by the federal government is also excluded if the government does not support the debt service cost.
The negotiable debt consists of all public debt that is either traded on an exchange or another market. It consists mainly of Linear bonds and Treasury Certificates.
This debt accounts for most of the federal government debt. It reprents indeed about 90% of the federal debt.