During the closing ceremony, all those who participated in the event received a participation certificate.

They are backed by 8 percent Freddie Mac participation certificates.

These securities are backed by 10 percent Freddie Mac participation certificates.

That's where this new security, called a participation certificate, comes in.

About 150,000 participation certificates will be distributed to certain managers and directors who hold options on Cal Fed stock.

Personalized participation certificates, with a student's results, can be printed from the web page.

Another form of participation certificate is used by banks to ease liquidity.

In this case banks have the option to share their credit asset(s) with other banks by issuing participation certificates.

While providing short term funds, participation certificates can also be used to reduce risk.

U.S. Small Business Administration, about $84 million of guaranteed participation certificates due 1997.