Money market debt register claims or MMDRCs (German: Geldmarkt-Buchforderungen or GMBF, French: Créances comptables à court terme or CCCT) are debt certificates which are issued by the Swiss federal government. Interest is paid out to investors who lend the government money through MMDRCs at a fixed rate.
Unlike government bonds, loans received by the government through MMDRCs are not converted into securities, but are simply recorded as debt obligations in a ledger. MMDRCs can be traded much like securities.
See also: Public Bond