consols

American  

[kon-solz, kuhn-solz] / ˈkɒn sɒlz, kənˈsɒlz /

plural noun

1. Sometimes consol the funded government securities of Great Britain that originated in the consolidation in 1751 of various public securities, chiefly in the form of annuities, into a single debt issue without maturity.

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consols British  

/ ˈkɒnsɒlz, kənˈsɒlz /

plural noun

1. Also called: bank annuities.  irredeemable British government securities carrying annual interest rates of two and a half or four per cent

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Etymology

Origin of consols

Short for consolidated annuities

Example Sentences

Governments could also issue irredeemable debt, or “consols”, which eliminate the risk of a refinancing crisis.

From Economist

The snapshot above - taken in the middle of a business day in 1894 - shows staff and customers in the Consols Office at Threadneedle Street.

From BBC

Darcy did not tote up the value of his land, consols and other assets, and fret when the prices went down.

From Forbes

Also set for repayment are “4 percent consols,” or securities, issued in 1927 by Winston Churchill, then chancellor of the Exchequer, partly to refinance National War Bonds originating from World War I. Now worth £218 million, they will be repaid in February.

From New York Times

They were and are thus known as “Consols”.

From Forbes