BTP (Buoni del Tesoro Poliennali)

BTP, or Buoni del Tesoro Poliennali, are Italian government bonds issued to raise funds for public expenses. They are long-term debt securities with fixed interest rates, typically paid semiannually, and have maturities usually ranging from 3 to 30 years. When investors buy BTPs, they are essentially lending money to the Italian government in exchange for regular interest payments and the return of the principal amount at maturity. BTPs are considered a safe investment, as they are backed by the Italian government, and their prices fluctuate based on interest rates and economic conditions.