id	sid	tid	token	lemma	pos
ftr-493	1	1	florida	florida	PROPN
ftr-493	1	2	tax	tax	PROPN
ftr-493	1	3	review	review	NOUN
ftr-493	1	4	selected	select	VERB
ftr-493	1	5	issues	issue	NOUN
ftr-493	1	6	in	in	ADP
ftr-493	1	7	the	the	DET
ftr-493	1	8	taxation	taxation	NOUN
ftr-493	1	9	of	of	ADP
ftr-493	1	10	swaps	swap	NOUN
ftr-493	1	11	,	,	PUNCT
ftr-493	1	12	structured	structure	VERB
ftr-493	1	13	finance	finance	NOUN
ftr-493	1	14	and	and	CCONJ
ftr-493	1	15	other	other	ADJ
ftr-493	1	16	financial	financial	ADJ
ftr-493	1	17	products	product	NOUN
ftr-493	1	18	lewis	lewis	PROPN
ftr-493	1	19	r.	r.	PROPN
ftr-493	1	20	steinberg	steinberg	PROPN
ftr-493	1	21	*	*	PROPN
ftr-493	1	22	i.	i.	PROPN
ftr-493	1	23	introduction	introduction	PROPN
ftr-493	1	24	h.	h.	PROPN
ftr-493	1	25	swaps	swaps	PROPN
ftr-493	1	26	a.	a.	PROPN
ftr-493	1	27	basic	basic	ADJ
ftr-493	1	28	swap	swap	NOUN
ftr-493	1	29	mechanics	mechanic	NOUN
ftr-493	1	30	b.	b.	VERB
ftr-493	1	31	the	the	DET
ftr-493	1	32	use	use	NOUN
ftr-493	1	33	of	of	ADP
ftr-493	1	34	interest	interest	NOUN
ftr-493	1	35	rate	rate	NOUN
ftr-493	1	36	swaps	swap	NOUN
ftr-493	1	37	to	to	PART
ftr-493	1	38	create	create	VERB
ftr-493	1	39	synthetic	synthetic	ADJ
ftr-493	1	40	tax	tax	NOUN
ftr-493	1	41	-	-	PUNCT
ftr-493	1	42	advantaged	advantage	VERB
ftr-493	1	43	assets	asset	NOUN
ftr-493	1	44	c.	c.	PROPN
ftr-493	1	45	equity	equity	NOUN
ftr-493	1	46	swaps	swap	NOUN
ftr-493	1	47	1	1	NUM
ftr-493	1	48	.	.	PUNCT
ftr-493	1	49	basic	basic	ADJ
ftr-493	1	50	mechanics	mechanic	NOUN
ftr-493	1	51	2	2	NUM
ftr-493	1	52	.	.	PUNCT
ftr-493	2	1	deemed	deem	VERB
ftr-493	2	2	disposition	disposition	NOUN
ftr-493	2	3	of	of	ADP
ftr-493	2	4	the	the	DET
ftr-493	2	5	underlying	underlie	VERB
ftr-493	2	6	stocks	stock	NOUN
ftr-493	2	7	3	3	NUM
ftr-493	2	8	.	.	X
ftr-493	2	9	deductibility	deductibility	NOUN
ftr-493	2	10	of	of	ADP
ftr-493	2	11	swap	swap	NOUN
ftr-493	2	12	payments	payment	NOUN
ftr-493	2	13	:	:	PUNCT
ftr-493	2	14	creation	creation	NOUN
ftr-493	2	15	of	of	ADP
ftr-493	2	16	synthetic	synthetic	ADJ
ftr-493	2	17	tax	tax	NOUN
ftr-493	2	18	-	-	PUNCT
ftr-493	2	19	advantaged	advantaged	ADJ
ftr-493	2	20	assets	asset	NOUN
ftr-493	2	21	using	use	VERB
ftr-493	2	22	equity	equity	NOUN
ftr-493	2	23	swaps	swap	NOUN
ftr-493	2	24	4	4	NUM
ftr-493	2	25	.	.	PUNCT
ftr-493	2	26	dividend	dividend	NOUN
ftr-493	2	27	capture	capture	NOUN
ftr-493	2	28	and	and	CCONJ
ftr-493	2	29	equity	equity	NOUN
ftr-493	2	30	swaps	swap	NOUN
ftr-493	2	31	5	5	NUM
ftr-493	2	32	.	.	PUNCT
ftr-493	2	33	equity	equity	NOUN
ftr-493	2	34	swaps	swap	NOUN
ftr-493	2	35	and	and	CCONJ
ftr-493	2	36	withholding	withholding	NOUN
ftr-493	2	37	taxes	taxis	NOUN
ftr-493	2	38	d.	d.	PROPN
ftr-493	2	39	section	section	PROPN
ftr-493	2	40	382	382	NUM
ftr-493	2	41	and	and	CCONJ
ftr-493	2	42	swaps	swap	NOUN
ftr-493	2	43	i.	i.	NOUN
ftr-493	2	44	structured	structure	VERB
ftr-493	2	45	finance	finance	NOUN
ftr-493	2	46	a.	a.	NOUN
ftr-493	2	47	basic	basic	ADJ
ftr-493	2	48	structure	structure	NOUN
ftr-493	2	49	and	and	CCONJ
ftr-493	2	50	goals	goal	NOUN
ftr-493	2	51	b.	b.	PROPN
ftr-493	2	52	dividing	divide	VERB
ftr-493	2	53	up	up	ADP
ftr-493	2	54	cash	cash	NOUN
ftr-493	2	55	flows	flow	NOUN
ftr-493	2	56	to	to	PART
ftr-493	2	57	better	well	ADV
ftr-493	2	58	meet	meet	VERB
ftr-493	2	59	investor	investor	NOUN
ftr-493	2	60	objectives	objective	NOUN
ftr-493	2	61	c.	c.	PROPN
ftr-493	2	62	tax	tax	PROPN
ftr-493	2	63	transparency	transparency	NOUN
ftr-493	2	64	d.	d.	PROPN
ftr-493	2	65	optimization	optimization	NOUN
ftr-493	2	66	of	of	ADP
ftr-493	2	67	the	the	DET
ftr-493	2	68	drd	drd	NOUN
ftr-493	2	69	267	267	NUM
ftr-493	2	70	267	267	NUM
ftr-493	2	71	268	268	NUM
ftr-493	2	72	281	281	NUM
ftr-493	2	73	281	281	NUM
ftr-493	2	74	282	282	NUM
ftr-493	2	75	284	284	NUM
ftr-493	2	76	285	285	NUM
ftr-493	2	77	287	287	NUM
ftr-493	2	78	293	293	NUM
ftr-493	2	79	296	296	NUM
ftr-493	2	80	296	296	NUM
ftr-493	2	81	297	297	NUM
ftr-493	2	82	298	298	NUM
ftr-493	2	83	302	302	NUM
ftr-493	2	84	iv	iv	NOUN
ftr-493	2	85	.	.	PUNCT
ftr-493	3	1	conclusion	conclusion	NOUN
ftr-493	3	2	*	*	PUNCT
ftr-493	3	3	partner	partner	NOUN
ftr-493	3	4	,	,	PUNCT
ftr-493	3	5	cravath	cravath	NOUN
ftr-493	3	6	,	,	PUNCT
ftr-493	3	7	swaine	swaine	NOUN
ftr-493	3	8	&	&	CCONJ
ftr-493	3	9	moore	moore	PROPN
ftr-493	3	10	,	,	PUNCT
ftr-493	3	11	new	new	PROPN
ftr-493	3	12	york	york	PROPN
ftr-493	3	13	.	.	PUNCT
ftr-493	4	1	ny	ny	PROPN
ftr-493	4	2	.	.	PUNCT
ftr-493	5	1	this	this	DET
ftr-493	5	2	article	article	NOUN
ftr-493	5	3	is	be	AUX
ftr-493	5	4	based	base	VERB
ftr-493	5	5	on	on	ADP
ftr-493	5	6	a	a	DET
ftr-493	5	7	paper	paper	NOUN
ftr-493	5	8	presented	present	VERB
ftr-493	5	9	by	by	ADP
ftr-493	5	10	the	the	DET
ftr-493	5	11	author	author	NOUN
ftr-493	5	12	to	to	ADP
ftr-493	5	13	the	the	DET
ftr-493	5	14	tax	tax	NOUN
ftr-493	5	15	review	review	NOUN
ftr-493	5	16	of	of	ADP
ftr-493	5	17	new	new	PROPN
ftr-493	5	18	york	york	PROPN
ftr-493	5	19	city	city	PROPN
ftr-493	5	20	on	on	ADP
ftr-493	5	21	november	november	PROPN
ftr-493	5	22	16	16	NUM
ftr-493	5	23	,	,	PUNCT
ftr-493	5	24	1992	1992	NUM
ftr-493	5	25	.	.	PUNCT
ftr-493	6	1	the	the	DET
ftr-493	6	2	author	author	NOUN
ftr-493	6	3	would	would	AUX
ftr-493	6	4	like	like	VERB
ftr-493	6	5	to	to	PART
ftr-493	6	6	thank	thank	VERB
ftr-493	6	7	mary	mary	PROPN
ftr-493	6	8	f.	f.	PROPN
ftr-493	6	9	cliff	cliff	PROPN
ftr-493	6	10	for	for	ADP
ftr-493	6	11	her	her	PRON
ftr-493	6	12	invaluable	invaluable	ADJ
ftr-493	6	13	assistance	assistance	NOUN
ftr-493	6	14	in	in	ADP
ftr-493	6	15	researching	research	VERB
ftr-493	6	16	and	and	CCONJ
ftr-493	6	17	editing	edit	VERB
ftr-493	6	18	this	this	DET
ftr-493	6	19	article	article	NOUN
ftr-493	6	20	,	,	PUNCT
ftr-493	6	21	and	and	CCONJ
ftr-493	6	22	michael	michael	PROPN
ftr-493	6	23	l.	l.	PROPN
ftr-493	6	24	schier	schier	PROPN
ftr-493	6	25	for	for	ADP
ftr-493	6	26	his	his	PRON
ftr-493	6	27	helpful	helpful	ADJ
ftr-493	6	28	comments	comment	NOUN
ftr-493	6	29	on	on	ADP
ftr-493	6	30	an	an	DET
ftr-493	6	31	earlier	early	ADJ
ftr-493	6	32	draft	draft	NOUN
ftr-493	6	33	.	.	PUNCT
ftr-493	7	1	volume	volume	NOUN
ftr-493	7	2	i	i	PRON
ftr-493	7	3	number	number	NOUN
ftr-493	7	4	5	5	NUM
ftr-493	7	5	florida	florida	PROPN
ftr-493	7	6	tax	tax	PROPN
ftr-493	7	7	review	review	PROPN
ftr-493	7	8	i.	i.	NOUN
ftr-493	7	9	introduction	introduction	NOUN
ftr-493	7	10	the	the	DET
ftr-493	7	11	last	last	ADJ
ftr-493	7	12	decade	decade	NOUN
ftr-493	7	13	has	have	AUX
ftr-493	7	14	seen	see	VERB
ftr-493	7	15	an	an	DET
ftr-493	7	16	explosive	explosive	ADJ
ftr-493	7	17	growth	growth	NOUN
ftr-493	7	18	in	in	ADP
ftr-493	7	19	the	the	DET
ftr-493	7	20	use	use	NOUN
ftr-493	7	21	of	of	ADP
ftr-493	7	22	swaps	swap	NOUN
ftr-493	7	23	and	and	CCONJ
ftr-493	7	24	other	other	ADJ
ftr-493	7	25	derivative	derivative	ADJ
ftr-493	7	26	products	product	NOUN
ftr-493	7	27	'	'	PUNCT
ftr-493	7	28	as	as	ADP
ftr-493	7	29	part	part	NOUN
ftr-493	7	30	of	of	ADP
ftr-493	7	31	the	the	DET
ftr-493	7	32	asset	asset	NOUN
ftr-493	7	33	and	and	CCONJ
ftr-493	7	34	liability	liability	NOUN
ftr-493	7	35	management	management	NOUN
ftr-493	7	36	strategies	strategy	NOUN
ftr-493	7	37	of	of	ADP
ftr-493	7	38	corporations	corporation	NOUN
ftr-493	7	39	and	and	CCONJ
ftr-493	7	40	other	other	ADJ
ftr-493	7	41	institutional	institutional	ADJ
ftr-493	7	42	investors	investor	NOUN
ftr-493	7	43	.	.	PUNCT
ftr-493	8	1	beginning	begin	VERB
ftr-493	8	2	with	with	ADP
ftr-493	8	3	interest	interest	NOUN
ftr-493	8	4	rate	rate	NOUN
ftr-493	8	5	and	and	CCONJ
ftr-493	8	6	currency	currency	NOUN
ftr-493	8	7	swaps	swap	NOUN
ftr-493	8	8	,	,	PUNCT
ftr-493	8	9	the	the	DET
ftr-493	8	10	menu	menu	NOUN
ftr-493	8	11	of	of	ADP
ftr-493	8	12	swap	swap	NOUN
ftr-493	8	13	products	product	NOUN
ftr-493	8	14	has	have	AUX
ftr-493	8	15	expanded	expand	VERB
ftr-493	8	16	to	to	PART
ftr-493	8	17	include	include	VERB
ftr-493	8	18	commodity	commodity	NOUN
ftr-493	8	19	swaps	swap	NOUN
ftr-493	8	20	,	,	PUNCT
ftr-493	8	21	equity	equity	NOUN
ftr-493	8	22	index	index	NOUN
ftr-493	8	23	swaps	swap	NOUN
ftr-493	8	24	,	,	PUNCT
ftr-493	8	25	equity	equity	NOUN
ftr-493	8	26	swaps	swap	NOUN
ftr-493	8	27	,	,	PUNCT
ftr-493	8	28	total	total	ADJ
ftr-493	8	29	return	return	NOUN
ftr-493	8	30	swaps	swap	NOUN
ftr-493	8	31	,	,	PUNCT
ftr-493	8	32	basis	basis	NOUN
ftr-493	8	33	swaps	swap	NOUN
ftr-493	8	34	,	,	PUNCT
ftr-493	8	35	and	and	CCONJ
ftr-493	8	36	interest	interest	NOUN
ftr-493	8	37	rate	rate	NOUN
ftr-493	8	38	caps	cap	NOUN
ftr-493	8	39	,	,	PUNCT
ftr-493	8	40	floors	floor	NOUN
ftr-493	8	41	and	and	CCONJ
ftr-493	8	42	collars	collar	NOUN
ftr-493	8	43	.	.	PUNCT
ftr-493	9	1	according	accord	VERB
ftr-493	9	2	to	to	ADP
ftr-493	9	3	industry	industry	NOUN
ftr-493	9	4	sources	source	NOUN
ftr-493	9	5	,	,	PUNCT
ftr-493	9	6	the	the	DET
ftr-493	9	7	market	market	NOUN
ftr-493	9	8	for	for	ADP
ftr-493	9	9	interest	interest	NOUN
ftr-493	9	10	rate	rate	NOUN
ftr-493	9	11	swaps	swap	NOUN
ftr-493	9	12	has	have	AUX
ftr-493	9	13	grown	grow	VERB
ftr-493	9	14	in	in	ADP
ftr-493	9	15	notional	notional	ADJ
ftr-493	9	16	principal	principal	ADJ
ftr-493	9	17	amount	amount	NOUN
ftr-493	9	18	from	from	ADP
ftr-493	9	19	an	an	DET
ftr-493	9	20	estimated	estimate	VERB
ftr-493	9	21	$	$	SYM
ftr-493	9	22	3	3	NUM
ftr-493	9	23	billion	billion	NUM
ftr-493	9	24	in	in	ADP
ftr-493	9	25	19822	19822	NUM
ftr-493	9	26	to	to	ADP
ftr-493	9	27	over	over	ADP
ftr-493	9	28	$	$	SYM
ftr-493	9	29	3.065	3.065	NUM
ftr-493	9	30	trillion	trillion	NUM
ftr-493	9	31	by	by	ADP
ftr-493	9	32	the	the	DET
ftr-493	9	33	end	end	NOUN
ftr-493	9	34	of	of	ADP
ftr-493	9	35	1991	1991	NUM
ftr-493	9	36	(	(	PUNCT
ftr-493	9	37	the	the	DET
ftr-493	9	38	most	most	ADV
ftr-493	9	39	recent	recent	ADJ
ftr-493	9	40	figures	figure	NOUN
ftr-493	9	41	available	available	ADJ
ftr-493	9	42	)	)	PUNCT
ftr-493	9	43	.	.	PUNCT
ftr-493	10	1	3	3	NUM
ftr-493	10	2	similarly	similarly	ADV
ftr-493	10	3	,	,	PUNCT
ftr-493	10	4	the	the	DET
ftr-493	10	5	outstanding	outstanding	ADJ
ftr-493	10	6	aggregate	aggregate	ADJ
ftr-493	10	7	notional	notional	ADJ
ftr-493	10	8	principal	principal	ADJ
ftr-493	10	9	amount	amount	NOUN
ftr-493	10	10	of	of	ADP
ftr-493	10	11	currency	currency	NOUN
ftr-493	10	12	swaps	swap	NOUN
ftr-493	10	13	has	have	AUX
ftr-493	10	14	grown	grow	VERB
ftr-493	10	15	from	from	ADP
ftr-493	10	16	$	$	SYM
ftr-493	10	17	182	182	NUM
ftr-493	10	18	billion	billion	NUM
ftr-493	10	19	in	in	ADP
ftr-493	10	20	1987	1987	NUM
ftr-493	10	21	to	to	ADP
ftr-493	10	22	$	$	SYM
ftr-493	10	23	807	807	NUM
ftr-493	10	24	billion	billion	NUM
ftr-493	10	25	by	by	ADP
ftr-493	10	26	the	the	DET
ftr-493	10	27	end	end	NOUN
ftr-493	10	28	of	of	ADP
ftr-493	10	29	1991	1991	NUM
ftr-493	10	30	.	.	PUNCT
ftr-493	10	31	'	'	PUNCT
ftr-493	11	1	at	at	ADP
ftr-493	11	2	the	the	DET
ftr-493	11	3	same	same	ADJ
ftr-493	11	4	time	time	NOUN
ftr-493	11	5	as	as	SCONJ
ftr-493	11	6	the	the	DET
ftr-493	11	7	swap	swap	NOUN
ftr-493	11	8	market	market	NOUN
ftr-493	11	9	has	have	AUX
ftr-493	11	10	been	be	AUX
ftr-493	11	11	expanding	expand	VERB
ftr-493	11	12	,	,	PUNCT
ftr-493	11	13	the	the	DET
ftr-493	11	14	structured	structured	ADJ
ftr-493	11	15	finance	finance	NOUN
ftr-493	11	16	market,5	market,5	NOUN
ftr-493	11	17	including	include	VERB
ftr-493	11	18	mortgage	mortgage	NOUN
ftr-493	11	19	and	and	CCONJ
ftr-493	11	20	asset	asset	NOUN
ftr-493	11	21	securitization,6	securitization,6	NOUN
ftr-493	11	22	has	have	AUX
ftr-493	11	23	seen	see	VERB
ftr-493	11	24	similar	similar	ADJ
ftr-493	11	25	growth	growth	NOUN
ftr-493	11	26	.	.	PUNCT
ftr-493	12	1	beginning	begin	VERB
ftr-493	12	2	in	in	ADP
ftr-493	12	3	the	the	DET
ftr-493	12	4	1970s	1970s	NUM
ftr-493	12	5	,	,	PUNCT
ftr-493	12	6	u.s	u.s	PROPN
ftr-493	12	7	.	.	PROPN
ftr-493	12	8	government	government	NOUN
ftr-493	12	9	-	-	PUNCT
ftr-493	12	10	backed	back	VERB
ftr-493	12	11	enterprises	enterprise	NOUN
ftr-493	12	12	such	such	ADJ
ftr-493	12	13	as	as	ADP
ftr-493	12	14	the	the	DET
ftr-493	12	15	government	government	NOUN
ftr-493	12	16	national	national	PROPN
ftr-493	12	17	mortgage	mortgage	PROPN
ftr-493	12	18	association	association	PROPN
ftr-493	12	19	(	(	PUNCT
ftr-493	12	20	"	"	PUNCT
ftr-493	12	21	ginnie	ginnie	PROPN
ftr-493	12	22	mae	mae	PROPN
ftr-493	12	23	"	"	PUNCT
ftr-493	12	24	)	)	PUNCT
ftr-493	12	25	and	and	CCONJ
ftr-493	12	26	the	the	DET
ftr-493	12	27	federal	federal	ADJ
ftr-493	12	28	home	home	PROPN
ftr-493	12	29	loan	loan	NOUN
ftr-493	12	30	mortgage	mortgage	NOUN
ftr-493	12	31	corporation	corporation	NOUN
ftr-493	12	32	(	(	PUNCT
ftr-493	12	33	"	"	PUNCT
ftr-493	12	34	freddie	freddie	PROPN
ftr-493	12	35	mac	mac	PROPN
ftr-493	12	36	"	"	PUNCT
ftr-493	12	37	)	)	PUNCT
ftr-493	12	38	sponsored	sponsor	VERB
ftr-493	12	39	transactions	transaction	NOUN
ftr-493	12	40	in	in	ADP
ftr-493	12	41	which	which	PRON
ftr-493	12	42	pools	pool	NOUN
ftr-493	12	43	of	of	ADP
ftr-493	12	44	residential	residential	ADJ
ftr-493	12	45	first	first	ADJ
ftr-493	12	46	mortgages	mortgage	NOUN
ftr-493	12	47	were	be	AUX
ftr-493	12	48	bundled	bundle	VERB
ftr-493	12	49	into	into	ADP
ftr-493	12	50	pass	pass	NOUN
ftr-493	12	51	-	-	PUNCT
ftr-493	12	52	through	through	ADP
ftr-493	12	53	certificates	certificate	NOUN
ftr-493	12	54	that	that	PRON
ftr-493	12	55	were	be	AUX
ftr-493	12	56	then	then	ADV
ftr-493	12	57	sold	sell	VERB
ftr-493	12	58	to	to	ADP
ftr-493	12	59	thrifts	thrift	NOUN
ftr-493	12	60	,	,	PUNCT
ftr-493	12	61	banks	bank	NOUN
ftr-493	12	62	and	and	CCONJ
ftr-493	12	63	other	other	ADJ
ftr-493	12	64	institutional	institutional	ADJ
ftr-493	12	65	investors	investor	NOUN
ftr-493	12	66	.	.	PUNCT
ftr-493	13	1	in	in	ADP
ftr-493	13	2	1983	1983	NUM
ftr-493	13	3	,	,	PUNCT
ftr-493	13	4	freddie	freddie	PROPN
ftr-493	13	5	mac	mac	PROPN
ftr-493	13	6	introduced	introduce	VERB
ftr-493	13	7	collateralized	collateralized	ADJ
ftr-493	13	8	mortgage	mortgage	NOUN
ftr-493	13	9	obligations	obligation	NOUN
ftr-493	13	10	(	(	PUNCT
ftr-493	13	11	"	"	PUNCT
ftr-493	13	12	cmos	cmos	NOUN
ftr-493	13	13	"	"	PUNCT
ftr-493	13	14	)	)	PUNCT
ftr-493	13	15	.	.	PUNCT
ftr-493	14	1	cmos	cmos	PROPN
ftr-493	14	2	,	,	PUNCT
ftr-493	14	3	which	which	PRON
ftr-493	14	4	divided	divide	VERB
ftr-493	14	5	up	up	ADP
ftr-493	14	6	the	the	DET
ftr-493	14	7	cashflows	cashflow	NOUN
ftr-493	14	8	from	from	ADP
ftr-493	14	9	1	1	NUM
ftr-493	14	10	.	.	PUNCT
ftr-493	15	1	a	a	DET
ftr-493	15	2	derivative	derivative	ADJ
ftr-493	15	3	product	product	NOUN
ftr-493	15	4	is	be	AUX
ftr-493	15	5	a	a	DET
ftr-493	15	6	financial	financial	ADJ
ftr-493	15	7	instrument	instrument	NOUN
ftr-493	15	8	that	that	PRON
ftr-493	15	9	,	,	PUNCT
ftr-493	15	10	while	while	SCONJ
ftr-493	15	11	not	not	PART
ftr-493	15	12	itself	itself	PRON
ftr-493	15	13	constituting	constitute	VERB
ftr-493	15	14	a	a	DET
ftr-493	15	15	share	share	NOUN
ftr-493	15	16	of	of	ADP
ftr-493	15	17	stock	stock	NOUN
ftr-493	15	18	,	,	PUNCT
ftr-493	15	19	debt	debt	NOUN
ftr-493	15	20	obligation	obligation	NOUN
ftr-493	15	21	or	or	CCONJ
ftr-493	15	22	commodity	commodity	NOUN
ftr-493	15	23	,	,	PUNCT
ftr-493	15	24	has	have	VERB
ftr-493	15	25	a	a	DET
ftr-493	15	26	value	value	NOUN
ftr-493	15	27	derived	derive	VERB
ftr-493	15	28	from	from	ADP
ftr-493	15	29	the	the	DET
ftr-493	15	30	values	value	NOUN
ftr-493	15	31	,	,	PUNCT
ftr-493	15	32	prices	price	NOUN
ftr-493	15	33	or	or	CCONJ
ftr-493	15	34	returns	return	NOUN
ftr-493	15	35	of	of	ADP
ftr-493	15	36	or	or	CCONJ
ftr-493	15	37	on	on	ADP
ftr-493	15	38	such	such	ADJ
ftr-493	15	39	"	"	PUNCT
ftr-493	15	40	underlying	underlying	ADJ
ftr-493	15	41	"	"	PUNCT
ftr-493	15	42	assets	asset	NOUN
ftr-493	15	43	.	.	PUNCT
ftr-493	16	1	examples	example	NOUN
ftr-493	16	2	of	of	ADP
ftr-493	16	3	derivative	derivative	ADJ
ftr-493	16	4	products	product	NOUN
ftr-493	16	5	include	include	VERB
ftr-493	16	6	swaps	swap	NOUN
ftr-493	16	7	,	,	PUNCT
ftr-493	16	8	options	option	NOUN
ftr-493	16	9	of	of	ADP
ftr-493	16	10	either	either	CCONJ
ftr-493	16	11	the	the	DET
ftr-493	16	12	cash	cash	NOUN
ftr-493	16	13	-	-	PUNCT
ftr-493	16	14	settled	settle	VERB
ftr-493	16	15	or	or	CCONJ
ftr-493	16	16	physical	physical	ADJ
ftr-493	16	17	-	-	PUNCT
ftr-493	16	18	settled	settle	VERB
ftr-493	16	19	variety	variety	NOUN
ftr-493	16	20	,	,	PUNCT
ftr-493	16	21	futures	future	NOUN
ftr-493	16	22	contracts	contract	NOUN
ftr-493	16	23	,	,	PUNCT
ftr-493	16	24	forward	forward	ADJ
ftr-493	16	25	contracts	contract	NOUN
ftr-493	16	26	,	,	PUNCT
ftr-493	16	27	caps	cap	NOUN
ftr-493	16	28	,	,	PUNCT
ftr-493	16	29	floors	floor	NOUN
ftr-493	16	30	and	and	CCONJ
ftr-493	16	31	collars	collar	NOUN
ftr-493	16	32	.	.	PUNCT
ftr-493	17	1	see	see	VERB
ftr-493	17	2	generally	generally	ADV
ftr-493	17	3	saul	saul	PROPN
ftr-493	17	4	hansell	hansell	PROPN
ftr-493	17	5	,	,	PUNCT
ftr-493	17	6	is	be	AUX
ftr-493	17	7	the	the	DET
ftr-493	17	8	world	world	NOUN
ftr-493	17	9	ready	ready	ADJ
ftr-493	17	10	for	for	ADP
ftr-493	17	11	synthetic	synthetic	ADJ
ftr-493	17	12	equity	equity	NOUN
ftr-493	17	13	?	?	PUNCT
ftr-493	17	14	,	,	PUNCT
ftr-493	17	15	institutional	institutional	ADJ
ftr-493	17	16	investor	investor	NOUN
ftr-493	17	17	,	,	PUNCT
ftr-493	17	18	aug	aug	PROPN
ftr-493	17	19	.	.	PROPN
ftr-493	17	20	1990	1990	NUM
ftr-493	17	21	,	,	PUNCT
ftr-493	17	22	at	at	ADP
ftr-493	17	23	54	54	NUM
ftr-493	17	24	(	(	PUNCT
ftr-493	17	25	discussing	discuss	VERB
ftr-493	17	26	the	the	DET
ftr-493	17	27	types	type	NOUN
ftr-493	17	28	and	and	CCONJ
ftr-493	17	29	economic	economic	ADJ
ftr-493	17	30	uses	use	NOUN
ftr-493	17	31	of	of	ADP
ftr-493	17	32	swaps	swap	NOUN
ftr-493	17	33	and	and	CCONJ
ftr-493	17	34	other	other	ADJ
ftr-493	17	35	derivative	derivative	ADJ
ftr-493	17	36	products	product	NOUN
ftr-493	17	37	)	)	PUNCT
ftr-493	17	38	;	;	PUNCT
ftr-493	17	39	steven	steven	PROPN
ftr-493	17	40	d.	d.	PROPN
ftr-493	17	41	felgran	felgran	PROPN
ftr-493	17	42	,	,	PUNCT
ftr-493	17	43	interest	interest	NOUN
ftr-493	17	44	rate	rate	NOUN
ftr-493	17	45	swaps	swap	NOUN
ftr-493	17	46	:	:	PUNCT
ftr-493	17	47	use	use	NOUN
ftr-493	17	48	,	,	PUNCT
ftr-493	17	49	risk	risk	NOUN
ftr-493	17	50	,	,	PUNCT
ftr-493	17	51	and	and	CCONJ
ftr-493	17	52	prices	price	NOUN
ftr-493	17	53	,	,	PUNCT
ftr-493	17	54	new	new	PROPN
ftr-493	17	55	england	england	PROPN
ftr-493	17	56	econ	econ	PROPN
ftr-493	17	57	.	.	PUNCT
ftr-493	18	1	rev	rev	PROPN
ftr-493	18	2	.	.	PROPN
ftr-493	18	3	,	,	PUNCT
ftr-493	18	4	nov.-dec	nov.-dec	PROPN
ftr-493	18	5	.	.	PROPN
ftr-493	18	6	1987	1987	NUM
ftr-493	18	7	,	,	PUNCT
ftr-493	18	8	at	at	ADP
ftr-493	18	9	22	22	NUM
ftr-493	18	10	.	.	PUNCT
ftr-493	19	1	2	2	NUM
ftr-493	19	2	.	.	X
ftr-493	19	3	why	why	SCONJ
ftr-493	19	4	bank	bank	NOUN
ftr-493	19	5	regulators	regulator	NOUN
ftr-493	19	6	need	need	VERB
ftr-493	19	7	a	a	DET
ftr-493	19	8	contingency	contingency	NOUN
ftr-493	19	9	plan	plan	NOUN
ftr-493	19	10	,	,	PUNCT
ftr-493	19	11	the	the	DET
ftr-493	19	12	economist	economist	NOUN
ftr-493	19	13	,	,	PUNCT
ftr-493	19	14	dec	dec	PROPN
ftr-493	19	15	.	.	PROPN
ftr-493	19	16	1	1	NUM
ftr-493	19	17	,	,	PUNCT
ftr-493	19	18	1984	1984	NUM
ftr-493	19	19	,	,	PUNCT
ftr-493	19	20	at	at	ADP
ftr-493	19	21	93	93	NUM
ftr-493	19	22	,	,	PUNCT
ftr-493	19	23	94	94	NUM
ftr-493	19	24	.	.	PUNCT
ftr-493	20	1	3	3	X
ftr-493	20	2	.	.	X
ftr-493	20	3	international	international	ADJ
ftr-493	20	4	swap	swap	NOUN
ftr-493	20	5	dealers	dealer	NOUN
ftr-493	20	6	association	association	NOUN
ftr-493	20	7	,	,	PUNCT
ftr-493	20	8	market	market	NOUN
ftr-493	20	9	survey	survey	NOUN
ftr-493	20	10	highlights	highlight	NOUN
ftr-493	20	11	year	year	NOUN
ftr-493	20	12	end	end	VERB
ftr-493	20	13	1991	1991	NUM
ftr-493	20	14	7	7	NUM
ftr-493	20	15	(	(	PUNCT
ftr-493	20	16	1992	1992	NUM
ftr-493	20	17	)	)	PUNCT
ftr-493	20	18	.	.	PUNCT
ftr-493	21	1	4	4	X
ftr-493	21	2	.	.	X
ftr-493	22	1	i	i	PRON
ftr-493	22	2	d.	d.	PROPN
ftr-493	22	3	because	because	SCONJ
ftr-493	22	4	the	the	DET
ftr-493	22	5	international	international	ADJ
ftr-493	22	6	swap	swap	NOUN
ftr-493	22	7	dealers	dealer	NOUN
ftr-493	22	8	association	association	NOUN
ftr-493	22	9	counts	count	VERB
ftr-493	22	10	only	only	ADV
ftr-493	22	11	the	the	DET
ftr-493	22	12	firms	firm	NOUN
ftr-493	22	13	that	that	PRON
ftr-493	22	14	participate	participate	VERB
ftr-493	22	15	in	in	ADP
ftr-493	22	16	its	its	PRON
ftr-493	22	17	survey	survey	NOUN
ftr-493	22	18	,	,	PUNCT
ftr-493	22	19	it	it	PRON
ftr-493	22	20	may	may	AUX
ftr-493	22	21	understate	understate	VERB
ftr-493	22	22	the	the	DET
ftr-493	22	23	true	true	ADJ
ftr-493	22	24	size	size	NOUN
ftr-493	22	25	of	of	ADP
ftr-493	22	26	the	the	DET
ftr-493	22	27	market	market	NOUN
ftr-493	22	28	.	.	PUNCT
ftr-493	23	1	true	true	ADJ
ftr-493	23	2	size	size	NOUN
ftr-493	23	3	of	of	ADP
ftr-493	23	4	swap	swap	NOUN
ftr-493	23	5	market	market	NOUN
ftr-493	23	6	approaches	approach	VERB
ftr-493	23	7	$	$	SYM
ftr-493	23	8	6	6	NUM
ftr-493	23	9	trillion	trillion	NUM
ftr-493	23	10	,	,	PUNCT
ftr-493	23	11	with	with	ADP
ftr-493	23	12	replacement	replacement	NOUN
ftr-493	23	13	cost	cost	NOUN
ftr-493	23	14	of	of	ADP
ftr-493	23	15	$	$	SYM
ftr-493	23	16	275bn	275bn	NOUN
ftr-493	23	17	,	,	PUNCT
ftr-493	23	18	swaps	swap	NOUN
ftr-493	23	19	monitor	monitor	NOUN
ftr-493	23	20	,	,	PUNCT
ftr-493	23	21	oct	oct	PROPN
ftr-493	23	22	.	.	PROPN
ftr-493	23	23	19	19	NUM
ftr-493	23	24	,	,	PUNCT
ftr-493	23	25	1992	1992	NUM
ftr-493	23	26	,	,	PUNCT
ftr-493	23	27	at	at	ADP
ftr-493	23	28	1	1	NUM
ftr-493	23	29	.	.	PUNCT
ftr-493	24	1	it	it	PRON
ftr-493	24	2	has	have	AUX
ftr-493	24	3	been	be	AUX
ftr-493	24	4	estimated	estimate	VERB
ftr-493	24	5	that	that	SCONJ
ftr-493	24	6	the	the	DET
ftr-493	24	7	true	true	ADJ
ftr-493	24	8	aggregate	aggregate	ADJ
ftr-493	24	9	amount	amount	NOUN
ftr-493	24	10	of	of	ADP
ftr-493	24	11	currency	currency	NOUN
ftr-493	24	12	and	and	CCONJ
ftr-493	24	13	interest	interest	NOUN
ftr-493	24	14	rate	rate	NOUN
ftr-493	24	15	swaps	swap	NOUN
ftr-493	24	16	outstanding	outstanding	ADJ
ftr-493	24	17	at	at	ADP
ftr-493	24	18	the	the	DET
ftr-493	24	19	end	end	NOUN
ftr-493	24	20	of	of	ADP
ftr-493	24	21	1991	1991	NUM
ftr-493	24	22	was	be	AUX
ftr-493	24	23	$	$	SYM
ftr-493	24	24	5.7	5.7	NUM
ftr-493	24	25	trillion	trillion	NUM
ftr-493	24	26	(	(	PUNCT
ftr-493	24	27	notional	notional	ADJ
ftr-493	24	28	principal	principal	ADJ
ftr-493	24	29	amount	amount	NOUN
ftr-493	24	30	)	)	PUNCT
ftr-493	24	31	.	.	PUNCT
ftr-493	25	1	i	i	PRON
ftr-493	25	2	d.	d.	PROPN
ftr-493	25	3	5	5	NUM
ftr-493	25	4	.	.	PUNCT
ftr-493	26	1	"	"	PUNCT
ftr-493	26	2	structured	structured	ADJ
ftr-493	26	3	finance	finance	NOUN
ftr-493	26	4	is	be	AUX
ftr-493	26	5	a	a	DET
ftr-493	26	6	financing	financing	NOUN
ftr-493	26	7	technique	technique	NOUN
ftr-493	26	8	in	in	ADP
ftr-493	26	9	which	which	PRON
ftr-493	26	10	financial	financial	ADJ
ftr-493	26	11	assets	asset	NOUN
ftr-493	26	12	...	...	PUNCT
ftr-493	26	13	are	be	AUX
ftr-493	26	14	pooled	pool	VERB
ftr-493	26	15	and	and	CCONJ
ftr-493	26	16	converted	convert	VERB
ftr-493	26	17	into	into	ADP
ftr-493	26	18	capital	capital	NOUN
ftr-493	26	19	market	market	NOUN
ftr-493	26	20	instruments	instrument	NOUN
ftr-493	26	21	.	.	PUNCT
ftr-493	26	22	"	"	PUNCT
ftr-493	27	1	div	div	PROPN
ftr-493	27	2	.	.	PUNCT
ftr-493	27	3	of	of	ADP
ftr-493	27	4	inv	inv	PROPN
ftr-493	27	5	.	.	PUNCT
ftr-493	28	1	management	management	NOUN
ftr-493	28	2	,	,	PUNCT
ftr-493	28	3	u.s	u.s	PROPN
ftr-493	28	4	.	.	PROPN
ftr-493	28	5	sec	sec	PROPN
ftr-493	28	6	.	.	PROPN
ftr-493	29	1	and	and	CCONJ
ftr-493	29	2	exch	exch	PROPN
ftr-493	29	3	.	.	PUNCT
ftr-493	30	1	comm'n	comm'n	VERB
ftr-493	30	2	,	,	PUNCT
ftr-493	30	3	protecting	protect	VERB
ftr-493	30	4	investors	investor	NOUN
ftr-493	30	5	:	:	PUNCT
ftr-493	30	6	a	a	DET
ftr-493	30	7	half	half	ADJ
ftr-493	30	8	century	century	NOUN
ftr-493	30	9	of	of	ADP
ftr-493	30	10	investment	investment	NOUN
ftr-493	30	11	company	company	NOUN
ftr-493	30	12	regulation	regulation	NOUN
ftr-493	30	13	i	i	PRON
ftr-493	30	14	(	(	PUNCT
ftr-493	30	15	may	may	PROPN
ftr-493	30	16	1992	1992	NUM
ftr-493	30	17	)	)	PUNCT
ftr-493	30	18	.	.	PUNCT
ftr-493	31	1	6	6	X
ftr-493	31	2	.	.	X
ftr-493	31	3	securitization	securitization	NOUN
ftr-493	31	4	is	be	AUX
ftr-493	31	5	the	the	DET
ftr-493	31	6	transformation	transformation	NOUN
ftr-493	31	7	of	of	ADP
ftr-493	31	8	illiquid	illiquid	ADJ
ftr-493	31	9	debt	debt	NOUN
ftr-493	31	10	into	into	ADP
ftr-493	31	11	standardized	standardized	ADJ
ftr-493	31	12	,	,	PUNCT
ftr-493	31	13	marketable	marketable	ADJ
ftr-493	31	14	securities	security	NOUN
ftr-493	31	15	.	.	PUNCT
ftr-493	32	1	1	1	NUM
ftr-493	32	2	tamar	tamar	PROPN
ftr-493	32	3	frankel	frankel	PROPN
ftr-493	32	4	,	,	PUNCT
ftr-493	32	5	securitization	securitization	NOUN
ftr-493	32	6	3	3	NUM
ftr-493	32	7	(	(	PUNCT
ftr-493	32	8	1991	1991	NUM
ftr-493	32	9	)	)	PUNCT
ftr-493	32	10	.	.	PUNCT
ftr-493	33	1	[	[	X
ftr-493	33	2	vol	vol	NOUN
ftr-493	33	3	1:5	1:5	NUM
ftr-493	33	4	selected	select	VERB
ftr-493	33	5	issues	issue	NOUN
ftr-493	33	6	in	in	ADP
ftr-493	33	7	the	the	DET
ftr-493	33	8	taxation	taxation	NOUN
ftr-493	33	9	of	of	ADP
ftr-493	33	10	swaps	swap	NOUN
ftr-493	33	11	an	an	DET
ftr-493	33	12	underlying	underlie	VERB
ftr-493	33	13	pool	pool	NOUN
ftr-493	33	14	of	of	ADP
ftr-493	33	15	mortgages	mortgage	NOUN
ftr-493	33	16	into	into	ADP
ftr-493	33	17	separate	separate	ADJ
ftr-493	33	18	debt	debt	NOUN
ftr-493	33	19	securities	security	NOUN
ftr-493	33	20	having	have	VERB
ftr-493	33	21	different	different	ADJ
ftr-493	33	22	maturity	maturity	NOUN
ftr-493	33	23	,	,	PUNCT
ftr-493	33	24	interest	interest	NOUN
ftr-493	33	25	rate	rate	NOUN
ftr-493	33	26	and	and	CCONJ
ftr-493	33	27	credit	credit	NOUN
ftr-493	33	28	characteristics	characteristic	NOUN
ftr-493	33	29	,	,	PUNCT
ftr-493	33	30	dramatically	dramatically	ADV
ftr-493	33	31	broadened	broaden	VERB
ftr-493	33	32	the	the	DET
ftr-493	33	33	market	market	NOUN
ftr-493	33	34	for	for	ADP
ftr-493	33	35	mortgage	mortgage	NOUN
ftr-493	33	36	-	-	PUNCT
ftr-493	33	37	backed	back	VERB
ftr-493	33	38	securities	security	NOUN
ftr-493	33	39	.	.	PUNCT
ftr-493	34	1	with	with	ADP
ftr-493	34	2	the	the	DET
ftr-493	34	3	enactment	enactment	NOUN
ftr-493	34	4	of	of	ADP
ftr-493	34	5	the	the	DET
ftr-493	34	6	"	"	PUNCT
ftr-493	34	7	real	real	ADJ
ftr-493	34	8	estate	estate	NOUN
ftr-493	34	9	mortgage	mortgage	NOUN
ftr-493	34	10	investment	investment	NOUN
ftr-493	34	11	conduit	conduit	NOUN
ftr-493	34	12	"	"	PUNCT
ftr-493	34	13	(	(	PUNCT
ftr-493	34	14	"	"	PUNCT
ftr-493	34	15	remic	remic	ADJ
ftr-493	34	16	"	"	PUNCT
ftr-493	34	17	)	)	PUNCT
ftr-493	34	18	provisions7	provisions7	NOUN
ftr-493	34	19	as	as	ADP
ftr-493	34	20	part	part	NOUN
ftr-493	34	21	of	of	ADP
ftr-493	34	22	the	the	DET
ftr-493	34	23	1986	1986	NUM
ftr-493	34	24	tax	tax	NOUN
ftr-493	34	25	reform	reform	NOUN
ftr-493	34	26	act	act	PROPN
ftr-493	34	27	,	,	PUNCT
ftr-493	34	28	the	the	DET
ftr-493	34	29	taxation	taxation	NOUN
ftr-493	34	30	of	of	ADP
ftr-493	34	31	mortgage	mortgage	NOUN
ftr-493	34	32	pass	pass	NOUN
ftr-493	34	33	-	-	PUNCT
ftr-493	34	34	through	through	NOUN
ftr-493	34	35	and	and	CCONJ
ftr-493	34	36	pay	pay	VERB
ftr-493	34	37	-	-	PUNCT
ftr-493	34	38	through	through	ADP
ftr-493	34	39	securities	security	NOUN
ftr-493	34	40	became	become	VERB
ftr-493	34	41	subject	subject	ADJ
ftr-493	34	42	to	to	ADP
ftr-493	34	43	a	a	DET
ftr-493	34	44	new	new	ADJ
ftr-493	34	45	,	,	PUNCT
ftr-493	34	46	self	self	NOUN
ftr-493	34	47	-	-	PUNCT
ftr-493	34	48	contained	contain	VERB
ftr-493	34	49	set	set	NOUN
ftr-493	34	50	of	of	ADP
ftr-493	34	51	rules	rule	NOUN
ftr-493	34	52	.	.	PUNCT
ftr-493	35	1	moreover	moreover	ADV
ftr-493	35	2	,	,	PUNCT
ftr-493	35	3	since	since	SCONJ
ftr-493	35	4	the	the	DET
ftr-493	35	5	mid-1980s	mid-1980	NOUN
ftr-493	35	6	,	,	PUNCT
ftr-493	35	7	structured	structure	VERB
ftr-493	35	8	finance	finance	NOUN
ftr-493	35	9	techniques	technique	NOUN
ftr-493	35	10	originally	originally	ADV
ftr-493	35	11	employed	employ	VERB
ftr-493	35	12	in	in	ADP
ftr-493	35	13	securitizing	securitize	VERB
ftr-493	35	14	mortgages	mortgage	NOUN
ftr-493	35	15	have	have	AUX
ftr-493	35	16	been	be	AUX
ftr-493	35	17	applied	apply	VERB
ftr-493	35	18	to	to	ADP
ftr-493	35	19	a	a	DET
ftr-493	35	20	broad	broad	ADJ
ftr-493	35	21	range	range	NOUN
ftr-493	35	22	of	of	ADP
ftr-493	35	23	other	other	ADJ
ftr-493	35	24	financial	financial	ADJ
ftr-493	35	25	assets	asset	NOUN
ftr-493	35	26	,	,	PUNCT
ftr-493	35	27	including	include	VERB
ftr-493	35	28	stocks	stock	NOUN
ftr-493	35	29	,	,	PUNCT
ftr-493	35	30	credit	credit	NOUN
ftr-493	35	31	card	card	NOUN
ftr-493	35	32	receivables	receivables	NOUN
ftr-493	35	33	,	,	PUNCT
ftr-493	35	34	auto	auto	NOUN
ftr-493	35	35	loans	loan	NOUN
ftr-493	35	36	,	,	PUNCT
ftr-493	35	37	lease	lease	NOUN
ftr-493	35	38	receivables	receivables	NOUN
ftr-493	35	39	,	,	PUNCT
ftr-493	35	40	home	home	NOUN
ftr-493	35	41	equity	equity	NOUN
ftr-493	35	42	loans	loan	NOUN
ftr-493	35	43	,	,	PUNCT
ftr-493	35	44	commercial	commercial	ADJ
ftr-493	35	45	and	and	CCONJ
ftr-493	35	46	industrial	industrial	ADJ
ftr-493	35	47	loans	loan	NOUN
ftr-493	35	48	and	and	CCONJ
ftr-493	35	49	trade	trade	NOUN
ftr-493	35	50	receivables	receivable	NOUN
ftr-493	35	51	.	.	PUNCT
ftr-493	35	52	'	'	PUNCT
ftr-493	36	1	the	the	DET
ftr-493	36	2	development	development	NOUN
ftr-493	36	3	of	of	ADP
ftr-493	36	4	swaps	swap	NOUN
ftr-493	36	5	and	and	CCONJ
ftr-493	36	6	structured	structure	VERB
ftr-493	36	7	finance	finance	NOUN
ftr-493	36	8	products	product	NOUN
ftr-493	36	9	has	have	AUX
ftr-493	36	10	given	give	VERB
ftr-493	36	11	rise	rise	NOUN
ftr-493	36	12	to	to	ADP
ftr-493	36	13	a	a	DET
ftr-493	36	14	number	number	NOUN
ftr-493	36	15	of	of	ADP
ftr-493	36	16	tax	tax	NOUN
ftr-493	36	17	issues	issue	NOUN
ftr-493	36	18	.	.	PUNCT
ftr-493	37	1	even	even	ADV
ftr-493	37	2	today	today	NOUN
ftr-493	37	3	,	,	PUNCT
ftr-493	37	4	many	many	ADJ
ftr-493	37	5	aspects	aspect	NOUN
ftr-493	37	6	of	of	ADP
ftr-493	37	7	the	the	DET
ftr-493	37	8	taxation	taxation	NOUN
ftr-493	37	9	of	of	ADP
ftr-493	37	10	these	these	DET
ftr-493	37	11	products	product	NOUN
ftr-493	37	12	remain	remain	VERB
ftr-493	37	13	confused	confused	ADJ
ftr-493	37	14	and	and	CCONJ
ftr-493	37	15	in	in	ADP
ftr-493	37	16	doubt	doubt	NOUN
ftr-493	37	17	.	.	PUNCT
ftr-493	38	1	this	this	DET
ftr-493	38	2	article	article	NOUN
ftr-493	38	3	explores	explore	VERB
ftr-493	38	4	some	some	PRON
ftr-493	38	5	of	of	ADP
ftr-493	38	6	those	those	DET
ftr-493	38	7	confusing	confusing	ADJ
ftr-493	38	8	and	and	CCONJ
ftr-493	38	9	contentious	contentious	ADJ
ftr-493	38	10	issues	issue	NOUN
ftr-493	38	11	,	,	PUNCT
ftr-493	38	12	as	as	ADV
ftr-493	38	13	well	well	ADV
ftr-493	38	14	as	as	ADP
ftr-493	38	15	some	some	DET
ftr-493	38	16	issues	issue	NOUN
ftr-493	38	17	on	on	ADP
ftr-493	38	18	which	which	PRON
ftr-493	38	19	there	there	PRON
ftr-493	38	20	is	be	VERB
ftr-493	38	21	,	,	PUNCT
ftr-493	38	22	one	one	NUM
ftr-493	38	23	hopes	hope	NOUN
ftr-493	38	24	,	,	PUNCT
ftr-493	38	25	more	more	ADV
ftr-493	38	26	universal	universal	ADJ
ftr-493	38	27	agreement	agreement	NOUN
ftr-493	38	28	.	.	PUNCT
ftr-493	39	1	this	this	DET
ftr-493	39	2	article	article	NOUN
ftr-493	39	3	is	be	AUX
ftr-493	39	4	divided	divide	VERB
ftr-493	39	5	into	into	ADP
ftr-493	39	6	two	two	NUM
ftr-493	39	7	broad	broad	ADJ
ftr-493	39	8	parts	part	NOUN
ftr-493	39	9	.	.	PUNCT
ftr-493	40	1	part	part	NOUN
ftr-493	41	1	h	h	PROPN
ftr-493	41	2	describes	describe	VERB
ftr-493	41	3	and	and	CCONJ
ftr-493	41	4	analyzes	analyze	VERB
ftr-493	41	5	certain	certain	ADJ
ftr-493	41	6	tax	tax	NOUN
ftr-493	41	7	issues	issue	NOUN
ftr-493	41	8	involving	involve	VERB
ftr-493	41	9	swaps	swap	NOUN
ftr-493	41	10	.	.	PUNCT
ftr-493	42	1	after	after	ADP
ftr-493	42	2	describing	describe	VERB
ftr-493	42	3	the	the	DET
ftr-493	42	4	basic	basic	ADJ
ftr-493	42	5	mechanics	mechanic	NOUN
ftr-493	42	6	of	of	ADP
ftr-493	42	7	swap	swap	NOUN
ftr-493	42	8	transactions	transaction	NOUN
ftr-493	42	9	,	,	PUNCT
ftr-493	42	10	part	part	NOUN
ftr-493	42	11	h	h	PROPN
ftr-493	42	12	shows	show	VERB
ftr-493	42	13	how	how	SCONJ
ftr-493	42	14	swaps	swap	NOUN
ftr-493	42	15	can	can	AUX
ftr-493	42	16	be	be	AUX
ftr-493	42	17	utilized	utilize	VERB
ftr-493	42	18	to	to	PART
ftr-493	42	19	create	create	VERB
ftr-493	42	20	synthetic	synthetic	ADJ
ftr-493	42	21	tax	tax	NOUN
ftr-493	42	22	-	-	PUNCT
ftr-493	42	23	advantaged	advantaged	ADJ
ftr-493	42	24	assets	asset	NOUN
ftr-493	42	25	,	,	PUNCT
ftr-493	42	26	to	to	PART
ftr-493	42	27	enable	enable	VERB
ftr-493	42	28	an	an	DET
ftr-493	42	29	investor	investor	NOUN
ftr-493	42	30	to	to	PART
ftr-493	42	31	alter	alter	VERB
ftr-493	42	32	the	the	DET
ftr-493	42	33	mix	mix	NOUN
ftr-493	42	34	of	of	ADP
ftr-493	42	35	its	its	PRON
ftr-493	42	36	investment	investment	NOUN
ftr-493	42	37	assets	asset	NOUN
ftr-493	42	38	without	without	ADP
ftr-493	42	39	triggering	trigger	VERB
ftr-493	42	40	gain	gain	NOUN
ftr-493	42	41	recognition	recognition	NOUN
ftr-493	42	42	,	,	PUNCT
ftr-493	42	43	and	and	CCONJ
ftr-493	42	44	,	,	PUNCT
ftr-493	42	45	in	in	ADP
ftr-493	42	46	the	the	DET
ftr-493	42	47	case	case	NOUN
ftr-493	42	48	of	of	ADP
ftr-493	42	49	foreign	foreign	ADJ
ftr-493	42	50	investors	investor	NOUN
ftr-493	42	51	,	,	PUNCT
ftr-493	42	52	to	to	PART
ftr-493	42	53	avoid	avoid	VERB
ftr-493	42	54	withholding	withhold	VERB
ftr-493	42	55	taxes	taxis	NOUN
ftr-493	42	56	.	.	PUNCT
ftr-493	43	1	the	the	DET
ftr-493	43	2	emphasis	emphasis	NOUN
ftr-493	43	3	in	in	ADP
ftr-493	43	4	part	part	NOUN
ftr-493	43	5	ii	ii	PROPN
ftr-493	43	6	is	be	AUX
ftr-493	43	7	on	on	ADP
ftr-493	43	8	interest	interest	NOUN
ftr-493	43	9	rate	rate	NOUN
ftr-493	43	10	and	and	CCONJ
ftr-493	43	11	equity	equity	NOUN
ftr-493	43	12	swaps	swap	NOUN
ftr-493	43	13	,	,	PUNCT
ftr-493	43	14	but	but	CCONJ
ftr-493	43	15	the	the	DET
ftr-493	43	16	analysis	analysis	NOUN
ftr-493	43	17	contained	contain	VERB
ftr-493	43	18	therein	therein	ADV
ftr-493	43	19	applies	apply	VERB
ftr-493	43	20	more	more	ADV
ftr-493	43	21	broadly	broadly	ADV
ftr-493	43	22	to	to	ADP
ftr-493	43	23	all	all	DET
ftr-493	43	24	kinds	kind	NOUN
ftr-493	43	25	of	of	ADP
ftr-493	43	26	swap	swap	NOUN
ftr-493	43	27	products	product	NOUN
ftr-493	43	28	.	.	PUNCT
ftr-493	44	1	also	also	ADV
ftr-493	44	2	discussed	discuss	VERB
ftr-493	44	3	in	in	ADP
ftr-493	44	4	part	part	NOUN
ftr-493	44	5	h	h	NOUN
ftr-493	44	6	is	be	AUX
ftr-493	44	7	whether	whether	SCONJ
ftr-493	44	8	equity	equity	NOUN
ftr-493	44	9	swaps	swap	NOUN
ftr-493	44	10	can	can	AUX
ftr-493	44	11	be	be	AUX
ftr-493	44	12	used	use	VERB
ftr-493	44	13	as	as	ADP
ftr-493	44	14	part	part	NOUN
ftr-493	44	15	of	of	ADP
ftr-493	44	16	dividend	dividend	NOUN
ftr-493	44	17	capture	capture	NOUN
ftr-493	44	18	strategies	strategy	NOUN
ftr-493	44	19	to	to	PART
ftr-493	44	20	avoid	avoid	VERB
ftr-493	44	21	the	the	DET
ftr-493	44	22	strictures	stricture	NOUN
ftr-493	44	23	of	of	ADP
ftr-493	44	24	section	section	NOUN
ftr-493	44	25	246	246	NUM
ftr-493	44	26	and	and	CCONJ
ftr-493	44	27	how	how	SCONJ
ftr-493	44	28	swaps	swap	NOUN
ftr-493	44	29	should	should	AUX
ftr-493	44	30	be	be	AUX
ftr-493	44	31	treated	treat	VERB
ftr-493	44	32	for	for	ADP
ftr-493	44	33	purposes	purpose	NOUN
ftr-493	44	34	of	of	ADP
ftr-493	44	35	the	the	DET
ftr-493	44	36	built	build	VERB
ftr-493	44	37	-	-	PUNCT
ftr-493	44	38	in	in	ADP
ftr-493	44	39	gain	gain	NOUN
ftr-493	44	40	and	and	CCONJ
ftr-493	44	41	loss	loss	NOUN
ftr-493	44	42	rules	rule	NOUN
ftr-493	44	43	of	of	ADP
ftr-493	44	44	section	section	NOUN
ftr-493	44	45	382(h	382(h	PROPN
ftr-493	44	46	)	)	PUNCT
ftr-493	44	47	.	.	PUNCT
ftr-493	45	1	part	part	NOUN
ftr-493	45	2	iii	iii	NUM
ftr-493	45	3	explores	explore	NOUN
ftr-493	45	4	a	a	DET
ftr-493	45	5	number	number	NOUN
ftr-493	45	6	of	of	ADP
ftr-493	45	7	issues	issue	NOUN
ftr-493	45	8	in	in	ADP
ftr-493	45	9	structured	structured	ADJ
ftr-493	45	10	finance	finance	NOUN
ftr-493	45	11	.	.	PUNCT
ftr-493	46	1	this	this	DET
ftr-493	46	2	part	part	NOUN
ftr-493	46	3	uses	use	VERB
ftr-493	46	4	an	an	DET
ftr-493	46	5	equity	equity	NOUN
ftr-493	46	6	-	-	PUNCT
ftr-493	46	7	based	base	VERB
ftr-493	46	8	product	product	NOUN
ftr-493	46	9	recently	recently	ADV
ftr-493	46	10	developed	develop	VERB
ftr-493	46	11	by	by	ADP
ftr-493	46	12	merrill	merrill	PROPN
ftr-493	46	13	lynch	lynch	PROPN
ftr-493	46	14	as	as	ADP
ftr-493	46	15	a	a	DET
ftr-493	46	16	case	case	NOUN
ftr-493	46	17	study	study	NOUN
ftr-493	46	18	for	for	ADP
ftr-493	46	19	analyzing	analyze	VERB
ftr-493	46	20	structured	structured	ADJ
ftr-493	46	21	finance	finance	NOUN
ftr-493	46	22	techniques	technique	NOUN
ftr-493	46	23	.	.	PUNCT
ftr-493	47	1	as	as	SCONJ
ftr-493	47	2	is	be	AUX
ftr-493	47	3	typical	typical	ADJ
ftr-493	47	4	of	of	ADP
ftr-493	47	5	most	most	ADV
ftr-493	47	6	structured	structured	ADJ
ftr-493	47	7	finance	finance	NOUN
ftr-493	47	8	transactions	transaction	NOUN
ftr-493	47	9	,	,	PUNCT
ftr-493	47	10	the	the	DET
ftr-493	47	11	merrill	merrill	PROPN
ftr-493	47	12	lynch	lynch	PROPN
ftr-493	47	13	product	product	NOUN
ftr-493	47	14	maximizes	maximize	VERB
ftr-493	47	15	economic	economic	ADJ
ftr-493	47	16	value	value	NOUN
ftr-493	47	17	by	by	ADP
ftr-493	47	18	achieving	achieve	VERB
ftr-493	47	19	three	three	NUM
ftr-493	47	20	goals	goal	NOUN
ftr-493	47	21	involving	involve	VERB
ftr-493	47	22	both	both	CCONJ
ftr-493	47	23	tax	tax	NOUN
ftr-493	47	24	and	and	CCONJ
ftr-493	47	25	non	non	ADJ
ftr-493	47	26	-	-	ADJ
ftr-493	47	27	tax	tax	ADJ
ftr-493	47	28	considerations	consideration	NOUN
ftr-493	47	29	:	:	PUNCT
ftr-493	47	30	(	(	PUNCT
ftr-493	47	31	i	i	NOUN
ftr-493	47	32	)	)	PUNCT
ftr-493	47	33	the	the	DET
ftr-493	47	34	dividing	dividing	NOUN
ftr-493	47	35	up	up	ADP
ftr-493	47	36	of	of	ADP
ftr-493	47	37	pre	pre	ADJ
ftr-493	47	38	-	-	ADJ
ftr-493	47	39	tax	tax	ADJ
ftr-493	47	40	cashflows	cashflow	NOUN
ftr-493	47	41	from	from	ADP
ftr-493	47	42	an	an	DET
ftr-493	47	43	underlying	underlie	VERB
ftr-493	47	44	financial	financial	ADJ
ftr-493	47	45	asset	asset	NOUN
ftr-493	47	46	or	or	CCONJ
ftr-493	47	47	assets	asset	NOUN
ftr-493	47	48	in	in	ADP
ftr-493	47	49	order	order	NOUN
ftr-493	47	50	to	to	PART
ftr-493	47	51	create	create	VERB
ftr-493	47	52	new	new	ADJ
ftr-493	47	53	securities	security	NOUN
ftr-493	47	54	that	that	PRON
ftr-493	47	55	better	well	ADV
ftr-493	47	56	match	match	VERB
ftr-493	47	57	the	the	DET
ftr-493	47	58	investment	investment	NOUN
ftr-493	47	59	needs	need	NOUN
ftr-493	47	60	of	of	ADP
ftr-493	47	61	discrete	discrete	ADJ
ftr-493	47	62	investor	investor	NOUN
ftr-493	47	63	groups	group	NOUN
ftr-493	47	64	;	;	PUNCT
ftr-493	47	65	(	(	PUNCT
ftr-493	47	66	ii	ii	NOUN
ftr-493	47	67	)	)	PUNCT
ftr-493	47	68	the	the	DET
ftr-493	47	69	structuring	structuring	NOUN
ftr-493	47	70	of	of	ADP
ftr-493	47	71	the	the	DET
ftr-493	47	72	investment	investment	NOUN
ftr-493	47	73	vehicle	vehicle	NOUN
ftr-493	47	74	,	,	PUNCT
ftr-493	47	75	in	in	ADP
ftr-493	47	76	this	this	DET
ftr-493	47	77	case	case	NOUN
ftr-493	47	78	,	,	PUNCT
ftr-493	47	79	a	a	DET
ftr-493	47	80	state	state	NOUN
ftr-493	47	81	law	law	NOUN
ftr-493	47	82	trust	trust	NOUN
ftr-493	47	83	,	,	PUNCT
ftr-493	47	84	in	in	ADP
ftr-493	47	85	order	order	NOUN
ftr-493	47	86	to	to	PART
ftr-493	47	87	avoid	avoid	VERB
ftr-493	47	88	an	an	DET
ftr-493	47	89	entitylevel	entitylevel	ADJ
ftr-493	47	90	tax	tax	NOUN
ftr-493	47	91	;	;	PUNCT
ftr-493	47	92	and	and	CCONJ
ftr-493	47	93	(	(	PUNCT
ftr-493	47	94	iii	iii	X
ftr-493	47	95	)	)	PUNCT
ftr-493	47	96	the	the	DET
ftr-493	47	97	structuring	structuring	NOUN
ftr-493	47	98	of	of	ADP
ftr-493	47	99	the	the	DET
ftr-493	47	100	transaction	transaction	NOUN
ftr-493	47	101	to	to	PART
ftr-493	47	102	preserve	preserve	VERB
ftr-493	47	103	,	,	PUNCT
ftr-493	47	104	and	and	CCONJ
ftr-493	47	105	flow	flow	VERB
ftr-493	47	106	through	through	ADP
ftr-493	47	107	to	to	ADP
ftr-493	47	108	the	the	DET
ftr-493	47	109	investors	investor	NOUN
ftr-493	47	110	,	,	PUNCT
ftr-493	47	111	the	the	DET
ftr-493	47	112	tax	tax	NOUN
ftr-493	47	113	-	-	PUNCT
ftr-493	47	114	advantaged	advantaged	ADJ
ftr-493	47	115	character	character	NOUN
ftr-493	47	116	of	of	ADP
ftr-493	47	117	the	the	DET
ftr-493	47	118	income	income	NOUN
ftr-493	47	119	from	from	ADP
ftr-493	47	120	the	the	DET
ftr-493	47	121	underlying	underlie	VERB
ftr-493	47	122	asset	asset	NOUN
ftr-493	47	123	or	or	CCONJ
ftr-493	47	124	assets	asset	NOUN
ftr-493	47	125	.	.	PUNCT
ftr-493	48	1	7	7	X
ftr-493	48	2	.	.	X
ftr-493	48	3	irc	irc	PROPN
ftr-493	48	4	§	§	PROPN
ftr-493	48	5	§	§	PROPN
ftr-493	48	6	860a-860	860a-860	NUM
ftr-493	48	7	g.	g.	PROPN
ftr-493	48	8	8	8	NUM
ftr-493	48	9	.	.	PUNCT
ftr-493	49	1	see	see	VERB
ftr-493	49	2	generally	generally	ADV
ftr-493	49	3	christine	christine	PROPN
ftr-493	49	4	pavel	pavel	PROPN
ftr-493	49	5	,	,	PUNCT
ftr-493	49	6	securitization	securitization	NOUN
ftr-493	49	7	,	,	PUNCT
ftr-493	49	8	econ	econ	PROPN
ftr-493	49	9	.	.	PUNCT
ftr-493	50	1	persp	persp	PROPN
ftr-493	50	2	.	.	PUNCT
ftr-493	50	3	,	,	PUNCT
ftr-493	50	4	july	july	PROPN
ftr-493	50	5	-	-	PUNCT
ftr-493	50	6	aug	aug	PROPN
ftr-493	50	7	.	.	PROPN
ftr-493	50	8	1986	1986	NUM
ftr-493	50	9	.	.	PUNCT
ftr-493	51	1	at	at	ADP
ftr-493	51	2	16	16	NUM
ftr-493	51	3	.	.	PUNCT
ftr-493	51	4	19931	19931	NUM
ftr-493	51	5	florida	florida	PROPN
ftr-493	51	6	tax	tax	NOUN
ftr-493	51	7	review	review	NOUN
ftr-493	51	8	in	in	ADP
ftr-493	51	9	one	one	NUM
ftr-493	51	10	sense	sense	NOUN
ftr-493	51	11	,	,	PUNCT
ftr-493	51	12	this	this	DET
ftr-493	51	13	article	article	NOUN
ftr-493	51	14	does	do	AUX
ftr-493	51	15	not	not	PART
ftr-493	51	16	have	have	VERB
ftr-493	51	17	a	a	DET
ftr-493	51	18	single	single	ADJ
ftr-493	51	19	unifying	unifying	ADJ
ftr-493	51	20	theme	theme	NOUN
ftr-493	51	21	.	.	PUNCT
ftr-493	52	1	rather	rather	ADV
ftr-493	52	2	,	,	PUNCT
ftr-493	52	3	it	it	PRON
ftr-493	52	4	represents	represent	VERB
ftr-493	52	5	an	an	DET
ftr-493	52	6	outgrowth	outgrowth	NOUN
ftr-493	52	7	of	of	ADP
ftr-493	52	8	my	my	PRON
ftr-493	52	9	professional	professional	ADJ
ftr-493	52	10	practice	practice	NOUN
ftr-493	52	11	advising	advise	VERB
ftr-493	52	12	investment	investment	NOUN
ftr-493	52	13	banking	banking	NOUN
ftr-493	52	14	and	and	CCONJ
ftr-493	52	15	other	other	ADJ
ftr-493	52	16	clients	client	NOUN
ftr-493	52	17	about	about	ADP
ftr-493	52	18	derivative	derivative	ADJ
ftr-493	52	19	products	product	NOUN
ftr-493	52	20	and	and	CCONJ
ftr-493	52	21	asset	asset	NOUN
ftr-493	52	22	securitization	securitization	NOUN
ftr-493	52	23	,	,	PUNCT
ftr-493	52	24	and	and	CCONJ
ftr-493	52	25	is	be	AUX
ftr-493	52	26	intended	intend	VERB
ftr-493	52	27	to	to	PART
ftr-493	52	28	introduce	introduce	VERB
ftr-493	52	29	generalist	generalist	ADJ
ftr-493	52	30	tax	tax	NOUN
ftr-493	52	31	practitioners	practitioner	NOUN
ftr-493	52	32	to	to	ADP
ftr-493	52	33	some	some	PRON
ftr-493	52	34	of	of	ADP
ftr-493	52	35	the	the	DET
ftr-493	52	36	new	new	ADJ
ftr-493	52	37	financial	financial	ADJ
ftr-493	52	38	products	product	NOUN
ftr-493	52	39	that	that	PRON
ftr-493	52	40	have	have	AUX
ftr-493	52	41	been	be	AUX
ftr-493	52	42	developed	develop	VERB
ftr-493	52	43	in	in	ADP
ftr-493	52	44	the	the	DET
ftr-493	52	45	swaps	swap	NOUN
ftr-493	52	46	and	and	CCONJ
ftr-493	52	47	structured	structure	VERB
ftr-493	52	48	finance	finance	NOUN
ftr-493	52	49	areas	area	NOUN
ftr-493	52	50	over	over	ADP
ftr-493	52	51	the	the	DET
ftr-493	52	52	last	last	ADJ
ftr-493	52	53	few	few	ADJ
ftr-493	52	54	years	year	NOUN
ftr-493	52	55	,	,	PUNCT
ftr-493	52	56	and	and	CCONJ
ftr-493	52	57	to	to	ADP
ftr-493	52	58	some	some	PRON
ftr-493	52	59	of	of	ADP
ftr-493	52	60	the	the	DET
ftr-493	52	61	tax	tax	NOUN
ftr-493	52	62	issues	issue	NOUN
ftr-493	52	63	that	that	PRON
ftr-493	52	64	have	have	AUX
ftr-493	52	65	arisen	arise	VERB
ftr-493	52	66	with	with	ADP
ftr-493	52	67	respect	respect	NOUN
ftr-493	52	68	to	to	ADP
ftr-493	52	69	those	those	DET
ftr-493	52	70	new	new	ADJ
ftr-493	52	71	products	product	NOUN
ftr-493	52	72	.	.	PUNCT
ftr-493	53	1	in	in	ADP
ftr-493	53	2	another	another	DET
ftr-493	53	3	sense	sense	NOUN
ftr-493	53	4	,	,	PUNCT
ftr-493	53	5	however	however	ADV
ftr-493	53	6	,	,	PUNCT
ftr-493	53	7	the	the	DET
ftr-493	53	8	theme	theme	NOUN
ftr-493	53	9	linking	link	VERB
ftr-493	53	10	many	many	ADJ
ftr-493	53	11	of	of	ADP
ftr-493	53	12	the	the	DET
ftr-493	53	13	topics	topic	NOUN
ftr-493	53	14	discussed	discuss	VERB
ftr-493	53	15	in	in	ADP
ftr-493	53	16	this	this	DET
ftr-493	53	17	article	article	NOUN
ftr-493	53	18	is	be	AUX
ftr-493	53	19	that	that	PRON
ftr-493	53	20	of	of	ADP
ftr-493	53	21	"	"	PUNCT
ftr-493	53	22	tax	tax	NOUN
ftr-493	53	23	arbitrage	arbitrage	NOUN
ftr-493	53	24	.	.	PUNCT
ftr-493	53	25	"	"	PUNCT
ftr-493	54	1	by	by	ADP
ftr-493	54	2	tax	tax	NOUN
ftr-493	54	3	arbitrage	arbitrage	NOUN
ftr-493	54	4	i	i	PRON
ftr-493	54	5	mean	mean	VERB
ftr-493	54	6	a	a	DET
ftr-493	54	7	taxpayer	taxpayer	NOUN
ftr-493	54	8	's	's	PART
ftr-493	54	9	simultaneously	simultaneously	ADV
ftr-493	54	10	holding	hold	VERB
ftr-493	54	11	"	"	PUNCT
ftr-493	54	12	long	long	ADJ
ftr-493	54	13	"	"	PUNCT
ftr-493	54	14	and	and	CCONJ
ftr-493	54	15	"	"	PUNCT
ftr-493	54	16	short	short	ADJ
ftr-493	54	17	"	"	PUNCT
ftr-493	54	18	positions	position	NOUN
ftr-493	54	19	in	in	ADP
ftr-493	54	20	the	the	DET
ftr-493	54	21	same	same	ADJ
ftr-493	54	22	or	or	CCONJ
ftr-493	54	23	similar	similar	ADJ
ftr-493	54	24	asset(s	asset(s	NOUN
ftr-493	54	25	)	)	PUNCT
ftr-493	54	26	,	,	PUNCT
ftr-493	54	27	but	but	CCONJ
ftr-493	54	28	where	where	SCONJ
ftr-493	54	29	the	the	DET
ftr-493	54	30	tax	tax	NOUN
ftr-493	54	31	treatment	treatment	NOUN
ftr-493	54	32	of	of	ADP
ftr-493	54	33	one	one	NUM
ftr-493	54	34	position	position	NOUN
ftr-493	54	35	differs	differ	VERB
ftr-493	54	36	from	from	ADP
ftr-493	54	37	the	the	DET
ftr-493	54	38	tax	tax	NOUN
ftr-493	54	39	treatment	treatment	NOUN
ftr-493	54	40	of	of	ADP
ftr-493	54	41	the	the	DET
ftr-493	54	42	other	other	ADJ
ftr-493	54	43	,	,	PUNCT
ftr-493	54	44	resulting	result	VERB
ftr-493	54	45	in	in	ADP
ftr-493	54	46	an	an	DET
ftr-493	54	47	after	after	ADP
ftr-493	54	48	-	-	PUNCT
ftr-493	54	49	tax	tax	NOUN
ftr-493	54	50	return	return	NOUN
ftr-493	54	51	from	from	ADP
ftr-493	54	52	the	the	DET
ftr-493	54	53	overall	overall	ADJ
ftr-493	54	54	transaction	transaction	NOUN
ftr-493	54	55	that	that	PRON
ftr-493	54	56	is	be	AUX
ftr-493	54	57	greater	great	ADJ
ftr-493	54	58	than	than	ADP
ftr-493	54	59	its	its	PRON
ftr-493	54	60	pre	pre	ADJ
ftr-493	54	61	-	-	NOUN
ftr-493	54	62	tax	tax	ADJ
ftr-493	54	63	return.9	return.9	NOUN
ftr-493	54	64	many	many	ADJ
ftr-493	54	65	of	of	ADP
ftr-493	54	66	the	the	DET
ftr-493	54	67	transactions	transaction	NOUN
ftr-493	54	68	explored	explore	VERB
ftr-493	54	69	in	in	ADP
ftr-493	54	70	this	this	DET
ftr-493	54	71	article	article	NOUN
ftr-493	54	72	raise	raise	VERB
ftr-493	54	73	questions	question	NOUN
ftr-493	54	74	about	about	ADP
ftr-493	54	75	the	the	DET
ftr-493	54	76	proper	proper	ADJ
ftr-493	54	77	scope	scope	NOUN
ftr-493	54	78	and	and	CCONJ
ftr-493	54	79	content	content	NOUN
ftr-493	54	80	of	of	ADP
ftr-493	54	81	a	a	DET
ftr-493	54	82	general	general	ADJ
ftr-493	54	83	,	,	PUNCT
ftr-493	54	84	unifying	unify	VERB
ftr-493	54	85	theory	theory	NOUN
ftr-493	54	86	of	of	ADP
ftr-493	54	87	tax	tax	NOUN
ftr-493	54	88	arbitrage	arbitrage	NOUN
ftr-493	54	89	.	.	PUNCT
ftr-493	55	1	in	in	ADP
ftr-493	55	2	particular	particular	ADJ
ftr-493	55	3	,	,	PUNCT
ftr-493	55	4	tax	tax	NOUN
ftr-493	55	5	arbitrage	arbitrage	NOUN
ftr-493	55	6	strategies	strategy	NOUN
ftr-493	55	7	,	,	PUNCT
ftr-493	55	8	at	at	ADP
ftr-493	55	9	least	least	ADJ
ftr-493	55	10	in	in	ADP
ftr-493	55	11	their	their	PRON
ftr-493	55	12	"	"	PUNCT
ftr-493	55	13	purest	pure	ADJ
ftr-493	55	14	"	"	PUNCT
ftr-493	55	15	forms	form	NOUN
ftr-493	55	16	,	,	PUNCT
ftr-493	55	17	are	be	AUX
ftr-493	55	18	generally	generally	ADV
ftr-493	55	19	viewed	view	VERB
ftr-493	55	20	as	as	ADP
ftr-493	55	21	abusive	abusive	ADJ
ftr-493	55	22	.	.	PUNCT
ftr-493	56	1	nevertheless	nevertheless	ADV
ftr-493	56	2	,	,	PUNCT
ftr-493	56	3	in	in	ADP
ftr-493	56	4	discussing	discuss	VERB
ftr-493	56	5	many	many	ADJ
ftr-493	56	6	of	of	ADP
ftr-493	56	7	the	the	DET
ftr-493	56	8	transactions	transaction	NOUN
ftr-493	56	9	analyzed	analyze	VERB
ftr-493	56	10	in	in	ADP
ftr-493	56	11	this	this	DET
ftr-493	56	12	article	article	NOUN
ftr-493	56	13	with	with	ADP
ftr-493	56	14	my	my	PRON
ftr-493	56	15	professional	professional	ADJ
ftr-493	56	16	colleagues	colleague	NOUN
ftr-493	56	17	,	,	PUNCT
ftr-493	56	18	i	i	PRON
ftr-493	56	19	have	have	AUX
ftr-493	56	20	discovered	discover	VERB
ftr-493	56	21	that	that	SCONJ
ftr-493	56	22	,	,	PUNCT
ftr-493	56	23	in	in	ADP
ftr-493	56	24	the	the	DET
ftr-493	56	25	tax	tax	NOUN
ftr-493	56	26	world	world	NOUN
ftr-493	56	27	,	,	PUNCT
ftr-493	56	28	as	as	ADP
ftr-493	56	29	in	in	ADP
ftr-493	56	30	so	so	ADV
ftr-493	56	31	much	much	ADJ
ftr-493	56	32	else	else	ADV
ftr-493	56	33	,	,	PUNCT
ftr-493	56	34	one	one	NUM
ftr-493	56	35	person	person	NOUN
ftr-493	56	36	's	's	PART
ftr-493	56	37	poison	poison	NOUN
ftr-493	56	38	is	be	AUX
ftr-493	56	39	another	another	DET
ftr-493	56	40	person	person	NOUN
ftr-493	56	41	's	's	PART
ftr-493	56	42	meat	meat	NOUN
ftr-493	56	43	.	.	PUNCT
ftr-493	57	1	transactions	transaction	NOUN
ftr-493	57	2	that	that	PRON
ftr-493	57	3	strike	strike	VERB
ftr-493	57	4	me	i	PRON
ftr-493	57	5	as	as	ADP
ftr-493	57	6	clearly	clearly	ADV
ftr-493	57	7	troublesome	troublesome	ADJ
ftr-493	57	8	appear	appear	VERB
ftr-493	57	9	perfectly	perfectly	ADV
ftr-493	57	10	legitimate	legitimate	ADJ
ftr-493	57	11	to	to	ADP
ftr-493	57	12	some	some	PRON
ftr-493	57	13	of	of	ADP
ftr-493	57	14	my	my	PRON
ftr-493	57	15	peers	peer	NOUN
ftr-493	57	16	and	and	CCONJ
ftr-493	57	17	vice	vice	ADV
ftr-493	57	18	versa	versa	ADV
ftr-493	57	19	.	.	PUNCT
ftr-493	58	1	the	the	DET
ftr-493	58	2	reason	reason	NOUN
ftr-493	58	3	for	for	ADP
ftr-493	58	4	these	these	DET
ftr-493	58	5	disagreements	disagreement	NOUN
ftr-493	58	6	is	be	AUX
ftr-493	58	7	not	not	PART
ftr-493	58	8	that	that	SCONJ
ftr-493	58	9	some	some	DET
ftr-493	58	10	persons	person	NOUN
ftr-493	58	11	are	be	AUX
ftr-493	58	12	more	more	ADV
ftr-493	58	13	or	or	CCONJ
ftr-493	58	14	less	less	ADV
ftr-493	58	15	tolerant	tolerant	ADJ
ftr-493	58	16	of	of	ADP
ftr-493	58	17	tax	tax	NOUN
ftr-493	58	18	arbitrage	arbitrage	NOUN
ftr-493	58	19	than	than	ADP
ftr-493	58	20	others	other	NOUN
ftr-493	58	21	.	.	PUNCT
ftr-493	59	1	rather	rather	ADV
ftr-493	59	2	,	,	PUNCT
ftr-493	59	3	the	the	DET
ftr-493	59	4	disagreements	disagreement	NOUN
ftr-493	59	5	stem	stem	VERB
ftr-493	59	6	from	from	ADP
ftr-493	59	7	differing	differ	VERB
ftr-493	59	8	conceptions	conception	NOUN
ftr-493	59	9	of	of	ADP
ftr-493	59	10	what	what	PRON
ftr-493	59	11	makes	make	VERB
ftr-493	59	12	tax	tax	NOUN
ftr-493	59	13	arbitrage	arbitrage	NOUN
ftr-493	59	14	abusive	abusive	ADJ
ftr-493	59	15	and	and	CCONJ
ftr-493	59	16	,	,	PUNCT
ftr-493	59	17	accordingly	accordingly	ADV
ftr-493	59	18	,	,	PUNCT
ftr-493	59	19	what	what	PRON
ftr-493	59	20	particular	particular	ADJ
ftr-493	59	21	transactions	transaction	NOUN
ftr-493	59	22	should	should	AUX
ftr-493	59	23	be	be	AUX
ftr-493	59	24	considered	consider	VERB
ftr-493	59	25	examples	example	NOUN
ftr-493	59	26	of	of	ADP
ftr-493	59	27	tax	tax	NOUN
ftr-493	59	28	arbitrage	arbitrage	NOUN
ftr-493	59	29	in	in	ADP
ftr-493	59	30	the	the	DET
ftr-493	59	31	first	first	ADJ
ftr-493	59	32	place	place	NOUN
ftr-493	59	33	.	.	PUNCT
ftr-493	60	1	some	some	PRON
ftr-493	60	2	of	of	ADP
ftr-493	60	3	my	my	PRON
ftr-493	60	4	colleagues	colleague	NOUN
ftr-493	60	5	believe	believe	VERB
ftr-493	60	6	that	that	SCONJ
ftr-493	60	7	a	a	DET
ftr-493	60	8	sine	sine	NOUN
ftr-493	60	9	qua	qua	X
ftr-493	60	10	non	non	ADJ
ftr-493	60	11	of	of	ADP
ftr-493	60	12	tax	tax	NOUN
ftr-493	60	13	arbitrage	arbitrage	NOUN
ftr-493	60	14	is	be	AUX
ftr-493	60	15	the	the	DET
ftr-493	60	16	presence	presence	NOUN
ftr-493	60	17	of	of	ADP
ftr-493	60	18	debt	debt	NOUN
ftr-493	60	19	financing	financing	NOUN
ftr-493	60	20	.	.	PUNCT
ftr-493	61	1	others	other	NOUN
ftr-493	61	2	believe	believe	VERB
ftr-493	61	3	that	that	SCONJ
ftr-493	61	4	tax	tax	NOUN
ftr-493	61	5	arbitrage	arbitrage	NOUN
ftr-493	61	6	only	only	ADV
ftr-493	61	7	requires	require	VERB
ftr-493	61	8	the	the	DET
ftr-493	61	9	holding	holding	NOUN
ftr-493	61	10	of	of	ADP
ftr-493	61	11	offsetting	offset	VERB
ftr-493	61	12	"	"	PUNCT
ftr-493	61	13	long	long	ADJ
ftr-493	61	14	"	"	PUNCT
ftr-493	61	15	and	and	CCONJ
ftr-493	61	16	"	"	PUNCT
ftr-493	61	17	short	short	ADJ
ftr-493	61	18	"	"	PUNCT
ftr-493	61	19	economic	economic	ADJ
ftr-493	61	20	positions	position	NOUN
ftr-493	61	21	.	.	PUNCT
ftr-493	62	1	some	some	DET
ftr-493	62	2	tax	tax	NOUN
ftr-493	62	3	lawyers	lawyer	NOUN
ftr-493	62	4	seem	seem	VERB
ftr-493	62	5	to	to	PART
ftr-493	62	6	require	require	VERB
ftr-493	62	7	a	a	DET
ftr-493	62	8	"	"	PUNCT
ftr-493	62	9	direct	direct	ADJ
ftr-493	62	10	"	"	PUNCT
ftr-493	62	11	link	link	NOUN
ftr-493	62	12	between	between	ADP
ftr-493	62	13	the	the	DET
ftr-493	62	14	"	"	PUNCT
ftr-493	62	15	long	long	ADJ
ftr-493	62	16	"	"	PUNCT
ftr-493	62	17	and	and	CCONJ
ftr-493	62	18	"	"	PUNCT
ftr-493	62	19	short	short	ADJ
ftr-493	62	20	"	"	PUNCT
ftr-493	62	21	positions	position	NOUN
ftr-493	62	22	before	before	SCONJ
ftr-493	62	23	a	a	DET
ftr-493	62	24	transaction	transaction	NOUN
ftr-493	62	25	can	can	AUX
ftr-493	62	26	be	be	AUX
ftr-493	62	27	considered	consider	VERB
ftr-493	62	28	an	an	DET
ftr-493	62	29	example	example	NOUN
ftr-493	62	30	of	of	ADP
ftr-493	62	31	tax	tax	NOUN
ftr-493	62	32	arbitrage	arbitrage	NOUN
ftr-493	62	33	.	.	PUNCT
ftr-493	63	1	others	other	NOUN
ftr-493	63	2	view	view	VERB
ftr-493	63	3	this	this	PRON
ftr-493	63	4	as	as	ADP
ftr-493	63	5	merely	merely	ADV
ftr-493	63	6	a	a	DET
ftr-493	63	7	rule	rule	NOUN
ftr-493	63	8	of	of	ADP
ftr-493	63	9	administrative	administrative	ADJ
ftr-493	63	10	convenience	convenience	NOUN
ftr-493	63	11	,	,	PUNCT
ftr-493	63	12	rather	rather	ADV
ftr-493	63	13	than	than	ADP
ftr-493	63	14	a	a	DET
ftr-493	63	15	theoretical	theoretical	ADJ
ftr-493	63	16	requirement	requirement	NOUN
ftr-493	63	17	.	.	PUNCT
ftr-493	64	1	my	my	PRON
ftr-493	64	2	purpose	purpose	NOUN
ftr-493	64	3	in	in	ADP
ftr-493	64	4	writing	write	VERB
ftr-493	64	5	this	this	DET
ftr-493	64	6	article	article	NOUN
ftr-493	64	7	is	be	AUX
ftr-493	64	8	far	far	ADV
ftr-493	64	9	more	more	ADV
ftr-493	64	10	modest	modest	ADJ
ftr-493	64	11	than	than	ADP
ftr-493	64	12	crafting	craft	VERB
ftr-493	64	13	a	a	DET
ftr-493	64	14	general	general	ADJ
ftr-493	64	15	,	,	PUNCT
ftr-493	64	16	unifying	unifying	ADJ
ftr-493	64	17	theory	theory	NOUN
ftr-493	64	18	of	of	ADP
ftr-493	64	19	tax	tax	NOUN
ftr-493	64	20	arbitrage	arbitrage	NOUN
ftr-493	64	21	.	.	PUNCT
ftr-493	65	1	i	i	PRON
ftr-493	65	2	do	do	AUX
ftr-493	65	3	believe	believe	VERB
ftr-493	65	4	,	,	PUNCT
ftr-493	65	5	however	however	ADV
ftr-493	65	6	,	,	PUNCT
ftr-493	65	7	that	that	SCONJ
ftr-493	65	8	many	many	ADJ
ftr-493	65	9	of	of	ADP
ftr-493	65	10	the	the	DET
ftr-493	65	11	transactions	transaction	NOUN
ftr-493	65	12	described	describe	VERB
ftr-493	65	13	in	in	ADP
ftr-493	65	14	this	this	DET
ftr-493	65	15	article	article	NOUN
ftr-493	65	16	must	must	AUX
ftr-493	65	17	be	be	AUX
ftr-493	65	18	accounted	account	VERB
ftr-493	65	19	for	for	ADP
ftr-493	65	20	in	in	ADP
ftr-493	65	21	developing	develop	VERB
ftr-493	65	22	such	such	DET
ftr-493	65	23	a	a	DET
ftr-493	65	24	theory	theory	NOUN
ftr-493	65	25	.	.	PUNCT
ftr-493	66	1	thus	thus	ADV
ftr-493	66	2	,	,	PUNCT
ftr-493	66	3	only	only	ADV
ftr-493	66	4	when	when	SCONJ
ftr-493	66	5	one	one	PRON
ftr-493	66	6	is	be	AUX
ftr-493	66	7	able	able	ADJ
ftr-493	66	8	to	to	PART
ftr-493	66	9	articulate	articulate	VERB
ftr-493	66	10	clearly	clearly	ADV
ftr-493	66	11	and	and	CCONJ
ftr-493	66	12	cogently	cogently	ADV
ftr-493	66	13	why	why	SCONJ
ftr-493	66	14	the	the	DET
ftr-493	66	15	strategy	strategy	NOUN
ftr-493	66	16	involving	involve	VERB
ftr-493	66	17	a	a	DET
ftr-493	66	18	market	market	NOUN
ftr-493	66	19	discount	discount	NOUN
ftr-493	66	20	bond	bond	NOUN
ftr-493	66	21	and	and	CCONJ
ftr-493	66	22	an	an	DET
ftr-493	66	23	interest	interest	NOUN
ftr-493	66	24	rate	rate	NOUN
ftr-493	66	25	swap	swap	NOUN
ftr-493	66	26	discussed	discuss	VERB
ftr-493	66	27	in	in	ADP
ftr-493	66	28	part	part	NOUN
ftr-493	66	29	ii	ii	NOUN
ftr-493	66	30	either	either	CCONJ
ftr-493	66	31	is	be	AUX
ftr-493	66	32	,	,	PUNCT
ftr-493	66	33	or	or	CCONJ
ftr-493	66	34	is	be	AUX
ftr-493	66	35	not	not	PART
ftr-493	66	36	,	,	PUNCT
ftr-493	66	37	abusive	abusive	ADJ
ftr-493	66	38	,	,	PUNCT
ftr-493	66	39	will	will	AUX
ftr-493	66	40	the	the	DET
ftr-493	66	41	analysis	analysis	NOUN
ftr-493	66	42	be	be	AUX
ftr-493	66	43	complete	complete	ADJ
ftr-493	66	44	.	.	PUNCT
ftr-493	67	1	9	9	X
ftr-493	67	2	.	.	X
ftr-493	67	3	see	see	VERB
ftr-493	67	4	generally	generally	ADV
ftr-493	67	5	myron	myron	PROPN
ftr-493	67	6	s.	s.	PROPN
ftr-493	67	7	scholes	scholes	PROPN
ftr-493	67	8	&	&	CCONJ
ftr-493	67	9	mark	mark	PROPN
ftr-493	67	10	a.	a.	PROPN
ftr-493	67	11	wolfson	wolfson	PROPN
ftr-493	67	12	,	,	PUNCT
ftr-493	67	13	taxes	taxis	NOUN
ftr-493	67	14	and	and	CCONJ
ftr-493	67	15	business	business	NOUN
ftr-493	67	16	strategy	strategy	NOUN
ftr-493	67	17	:	:	PUNCT
ftr-493	67	18	a	a	DET
ftr-493	67	19	planning	planning	NOUN
ftr-493	67	20	approach	approach	NOUN
ftr-493	67	21	104	104	NUM
ftr-493	67	22	-	-	SYM
ftr-493	67	23	27	27	NUM
ftr-493	67	24	(	(	PUNCT
ftr-493	67	25	1992	1992	NUM
ftr-493	67	26	)	)	PUNCT
ftr-493	67	27	;	;	PUNCT
ftr-493	67	28	c.	c.	PROPN
ftr-493	67	29	eugene	eugene	PROPN
ftr-493	67	30	steuerle	steuerle	PROPN
ftr-493	67	31	,	,	PUNCT
ftr-493	67	32	taxes	taxis	NOUN
ftr-493	67	33	,	,	PUNCT
ftr-493	67	34	loans	loan	NOUN
ftr-493	67	35	and	and	CCONJ
ftr-493	67	36	inflation	inflation	NOUN
ftr-493	67	37	:	:	PUNCT
ftr-493	67	38	how	how	SCONJ
ftr-493	67	39	the	the	DET
ftr-493	67	40	nation	nation	NOUN
ftr-493	67	41	's	's	PART
ftr-493	67	42	wealth	wealth	NOUN
ftr-493	67	43	becomes	become	VERB
ftr-493	67	44	misallocated	misallocated	ADJ
ftr-493	67	45	(	(	PUNCT
ftr-493	67	46	1985	1985	NUM
ftr-493	67	47	)	)	PUNCT
ftr-493	67	48	.	.	PUNCT
ftr-493	68	1	[	[	X
ftr-493	68	2	vol	vol	NOUN
ftr-493	68	3	1:5	1:5	NUM
ftr-493	68	4	selected	select	VERB
ftr-493	68	5	issues	issue	NOUN
ftr-493	68	6	in	in	ADP
ftr-493	68	7	the	the	DET
ftr-493	68	8	taxation	taxation	NOUN
ftr-493	68	9	of	of	ADP
ftr-493	68	10	swaps	swap	NOUN
ftr-493	68	11	ii	ii	NOUN
ftr-493	68	12	.	.	PUNCT
ftr-493	69	1	swaps	swap	NOUN
ftr-493	69	2	a.	a.	NOUN
ftr-493	69	3	basic	basic	ADJ
ftr-493	69	4	swap	swap	NOUN
ftr-493	69	5	mechanics	mechanic	NOUN
ftr-493	69	6	a	a	DET
ftr-493	69	7	swap	swap	NOUN
ftr-493	69	8	,	,	PUNCT
ftr-493	69	9	or	or	CCONJ
ftr-493	69	10	more	more	ADV
ftr-493	69	11	technically	technically	ADV
ftr-493	69	12	a	a	DET
ftr-493	69	13	"	"	PUNCT
ftr-493	69	14	notional	notional	ADJ
ftr-493	69	15	principal	principal	ADJ
ftr-493	69	16	contract	contract	NOUN
ftr-493	69	17	,	,	PUNCT
ftr-493	69	18	"	"	PUNCT
ftr-493	69	19	is	be	AUX
ftr-493	69	20	defined	define	VERB
ftr-493	69	21	in	in	ADP
ftr-493	69	22	proposed	propose	VERB
ftr-493	69	23	regulations	regulation	NOUN
ftr-493	69	24	section	section	NOUN
ftr-493	69	25	1.446	1.446	NUM
ftr-493	69	26	-	-	SYM
ftr-493	69	27	3(c)(1	3(c)(1	NUM
ftr-493	69	28	)	)	PUNCT
ftr-493	69	29	,	,	PUNCT
ftr-493	69	30	56	56	NUM
ftr-493	69	31	fed	feed	VERB
ftr-493	69	32	.	.	PUNCT
ftr-493	70	1	reg	reg	PROPN
ftr-493	70	2	.	.	PUNCT
ftr-493	71	1	31,350	31,350	NUM
ftr-493	71	2	(	(	PUNCT
ftr-493	71	3	1991	1991	NUM
ftr-493	71	4	)	)	PUNCT
ftr-493	71	5	,	,	PUNCT
ftr-493	71	6	as	as	ADP
ftr-493	71	7	"	"	PUNCT
ftr-493	71	8	a	a	DET
ftr-493	71	9	financial	financial	ADJ
ftr-493	71	10	instrument	instrument	NOUN
ftr-493	71	11	that	that	PRON
ftr-493	71	12	provides	provide	VERB
ftr-493	71	13	for	for	ADP
ftr-493	71	14	the	the	DET
ftr-493	71	15	payment	payment	NOUN
ftr-493	71	16	of	of	ADP
ftr-493	71	17	amounts	amount	NOUN
ftr-493	71	18	by	by	ADP
ftr-493	71	19	one	one	NUM
ftr-493	71	20	party	party	NOUN
ftr-493	71	21	to	to	ADP
ftr-493	71	22	another	another	PRON
ftr-493	71	23	at	at	ADP
ftr-493	71	24	specified	specify	VERB
ftr-493	71	25	intervals	interval	NOUN
ftr-493	71	26	calculated	calculate	VERB
ftr-493	71	27	by	by	ADP
ftr-493	71	28	reference	reference	NOUN
ftr-493	71	29	to	to	ADP
ftr-493	71	30	a	a	DET
ftr-493	71	31	specified	specified	ADJ
ftr-493	71	32	index	index	NOUN
ftr-493	71	33	upon	upon	SCONJ
ftr-493	71	34	a	a	DET
ftr-493	71	35	notional	notional	ADJ
ftr-493	71	36	principal	principal	ADJ
ftr-493	71	37	amount	amount	NOUN
ftr-493	71	38	in	in	ADP
ftr-493	71	39	exchange	exchange	NOUN
ftr-493	71	40	for	for	ADP
ftr-493	71	41	specified	specify	VERB
ftr-493	71	42	consideration	consideration	NOUN
ftr-493	71	43	or	or	CCONJ
ftr-493	71	44	a	a	DET
ftr-493	71	45	promise	promise	NOUN
ftr-493	71	46	to	to	PART
ftr-493	71	47	pay	pay	VERB
ftr-493	71	48	similar	similar	ADJ
ftr-493	71	49	amounts	amount	NOUN
ftr-493	71	50	.	.	PUNCT
ftr-493	71	51	"	"	PUNCT
ftr-493	72	1	for	for	ADP
ftr-493	72	2	example	example	NOUN
ftr-493	72	3	,	,	PUNCT
ftr-493	72	4	suppose	suppose	VERB
ftr-493	72	5	a	a	PRON
ftr-493	72	6	and	and	CCONJ
ftr-493	72	7	b10	b10	PROPN
ftr-493	72	8	enter	enter	VERB
ftr-493	72	9	into	into	ADP
ftr-493	72	10	an	an	DET
ftr-493	72	11	interest	interest	NOUN
ftr-493	72	12	rate	rate	NOUN
ftr-493	72	13	swap	swap	NOUN
ftr-493	72	14	pursuant	pursuant	ADJ
ftr-493	72	15	to	to	ADP
ftr-493	72	16	which	which	PRON
ftr-493	72	17	a	a	PRON
ftr-493	72	18	is	be	AUX
ftr-493	72	19	obligated	obligate	VERB
ftr-493	72	20	to	to	PART
ftr-493	72	21	pay	pay	VERB
ftr-493	72	22	b	b	DET
ftr-493	72	23	$	$	SYM
ftr-493	72	24	100	100	NUM
ftr-493	72	25	,	,	PUNCT
ftr-493	72	26	or	or	CCONJ
ftr-493	72	27	10	10	NUM
ftr-493	72	28	%	%	NOUN
ftr-493	72	29	of	of	ADP
ftr-493	72	30	$	$	SYM
ftr-493	72	31	1,000	1,000	NUM
ftr-493	72	32	,	,	PUNCT
ftr-493	72	33	on	on	ADP
ftr-493	72	34	december	december	PROPN
ftr-493	72	35	31st	31st	NOUN
ftr-493	72	36	of	of	ADP
ftr-493	72	37	each	each	DET
ftr-493	72	38	year	year	NOUN
ftr-493	72	39	,	,	PUNCT
ftr-493	72	40	and	and	CCONJ
ftr-493	72	41	b	b	NOUN
ftr-493	72	42	is	be	AUX
ftr-493	72	43	required	require	VERB
ftr-493	72	44	to	to	PART
ftr-493	72	45	pay	pay	VERB
ftr-493	72	46	a	a	PRON
ftr-493	72	47	at	at	ADP
ftr-493	72	48	the	the	DET
ftr-493	72	49	end	end	NOUN
ftr-493	72	50	of	of	ADP
ftr-493	72	51	each	each	DET
ftr-493	72	52	calendar	calendar	NOUN
ftr-493	72	53	quarter	quarter	NOUN
ftr-493	72	54	an	an	DET
ftr-493	72	55	amount	amount	NOUN
ftr-493	72	56	equal	equal	ADJ
ftr-493	72	57	to	to	ADP
ftr-493	72	58	the	the	DET
ftr-493	72	59	product	product	NOUN
ftr-493	72	60	of	of	ADP
ftr-493	72	61	$	$	SYM
ftr-493	72	62	1,000	1,000	NUM
ftr-493	72	63	and	and	CCONJ
ftr-493	72	64	the	the	DET
ftr-493	72	65	prevailing	prevail	VERB
ftr-493	72	66	london	london	PROPN
ftr-493	72	67	interbank	interbank	ADV
ftr-493	72	68	offered	offer	VERB
ftr-493	72	69	rate	rate	NOUN
ftr-493	72	70	(	(	PUNCT
ftr-493	72	71	"	"	PUNCT
ftr-493	72	72	libor	libor	PROPN
ftr-493	72	73	"	"	PUNCT
ftr-493	72	74	)	)	PUNCT
ftr-493	72	75	for	for	ADP
ftr-493	72	76	90	90	NUM
ftr-493	72	77	-	-	PUNCT
ftr-493	72	78	day	day	NOUN
ftr-493	72	79	deposits	deposit	NOUN
ftr-493	72	80	for	for	ADP
ftr-493	72	81	the	the	DET
ftr-493	72	82	period	period	NOUN
ftr-493	72	83	,	,	PUNCT
ftr-493	72	84	as	as	SCONJ
ftr-493	72	85	determined	determine	VERB
ftr-493	72	86	at	at	ADP
ftr-493	72	87	the	the	DET
ftr-493	72	88	beginning	beginning	NOUN
ftr-493	72	89	of	of	ADP
ftr-493	72	90	the	the	DET
ftr-493	72	91	calendar	calendar	NOUN
ftr-493	72	92	quarter	quarter	NOUN
ftr-493	72	93	.	.	PUNCT
ftr-493	72	94	"	"	PUNCT
ftr-493	73	1	here	here	ADV
ftr-493	73	2	,	,	PUNCT
ftr-493	73	3	the	the	DET
ftr-493	73	4	notional	notional	ADJ
ftr-493	73	5	principal	principal	ADJ
ftr-493	73	6	amount	amount	NOUN
ftr-493	73	7	is	be	AUX
ftr-493	73	8	$	$	SYM
ftr-493	73	9	1,000	1,000	NUM
ftr-493	73	10	,	,	PUNCT
ftr-493	73	11	the	the	DET
ftr-493	73	12	specified	specified	ADJ
ftr-493	73	13	index	index	NOUN
ftr-493	73	14	for	for	ADP
ftr-493	73	15	a	a	PRON
ftr-493	73	16	is	be	AUX
ftr-493	73	17	a	a	DET
ftr-493	73	18	fixed	fix	VERB
ftr-493	73	19	10	10	NUM
ftr-493	73	20	%	%	NOUN
ftr-493	73	21	interest	interest	NOUN
ftr-493	73	22	rate	rate	NOUN
ftr-493	73	23	,	,	PUNCT
ftr-493	73	24	and	and	CCONJ
ftr-493	73	25	the	the	DET
ftr-493	73	26	specified	specified	ADJ
ftr-493	73	27	index	index	NOUN
ftr-493	73	28	for	for	ADP
ftr-493	73	29	b	b	PROPN
ftr-493	73	30	is	be	AUX
ftr-493	73	31	a	a	DET
ftr-493	73	32	floating	float	VERB
ftr-493	73	33	90	90	NUM
ftr-493	73	34	-	-	PUNCT
ftr-493	73	35	day	day	NOUN
ftr-493	73	36	libor	libor	PROPN
ftr-493	73	37	interest	interest	PROPN
ftr-493	73	38	rate	rate	NOUN
ftr-493	73	39	.	.	PUNCT
ftr-493	74	1	a	a	PRON
ftr-493	74	2	and	and	CCONJ
ftr-493	74	3	b	b	NOUN
ftr-493	74	4	might	might	AUX
ftr-493	74	5	enter	enter	VERB
ftr-493	74	6	into	into	ADP
ftr-493	74	7	this	this	DET
ftr-493	74	8	swap	swap	NOUN
ftr-493	74	9	in	in	ADP
ftr-493	74	10	order	order	NOUN
ftr-493	74	11	to	to	PART
ftr-493	74	12	allow	allow	VERB
ftr-493	74	13	a	a	PRON
ftr-493	74	14	to	to	PART
ftr-493	74	15	convert	convert	VERB
ftr-493	74	16	its	its	PRON
ftr-493	74	17	libor	libor	PROPN
ftr-493	74	18	-	-	PUNCT
ftr-493	74	19	based	base	VERB
ftr-493	74	20	floating	float	VERB
ftr-493	74	21	interest	interest	NOUN
ftr-493	74	22	rate	rate	NOUN
ftr-493	74	23	debt	debt	NOUN
ftr-493	74	24	obligations	obligation	NOUN
ftr-493	74	25	into	into	ADP
ftr-493	74	26	fixed	fix	VERB
ftr-493	74	27	interest	interest	NOUN
ftr-493	74	28	rate	rate	NOUN
ftr-493	74	29	obligations	obligation	NOUN
ftr-493	74	30	and	and	CCONJ
ftr-493	74	31	b	b	NOUN
ftr-493	74	32	to	to	PART
ftr-493	74	33	convert	convert	VERB
ftr-493	74	34	its	its	PRON
ftr-493	74	35	fixed	fix	VERB
ftr-493	74	36	interest	interest	NOUN
ftr-493	74	37	rate	rate	NOUN
ftr-493	74	38	debt	debt	NOUN
ftr-493	74	39	obligations	obligation	NOUN
ftr-493	74	40	into	into	ADP
ftr-493	74	41	floating	float	VERB
ftr-493	74	42	interest	interest	NOUN
ftr-493	74	43	rate	rate	NOUN
ftr-493	74	44	obligations	obligation	NOUN
ftr-493	74	45	.	.	PUNCT
ftr-493	74	46	'	'	PUNCT
ftr-493	75	1	2	2	NUM
ftr-493	75	2	this	this	PRON
ftr-493	75	3	is	be	AUX
ftr-493	75	4	an	an	DET
ftr-493	75	5	example	example	NOUN
ftr-493	75	6	of	of	ADP
ftr-493	75	7	a	a	DET
ftr-493	75	8	liability	liability	NOUN
ftr-493	75	9	-	-	PUNCT
ftr-493	75	10	based	base	VERB
ftr-493	75	11	swap	swap	NOUN
ftr-493	75	12	strategy	strategy	NOUN
ftr-493	75	13	.	.	PUNCT
ftr-493	76	1	alternatively	alternatively	ADV
ftr-493	76	2	,	,	PUNCT
ftr-493	76	3	a	a	PRON
ftr-493	76	4	may	may	AUX
ftr-493	76	5	own	own	VERB
ftr-493	76	6	a	a	DET
ftr-493	76	7	fixed	fix	VERB
ftr-493	76	8	interest	interest	NOUN
ftr-493	76	9	rate	rate	NOUN
ftr-493	76	10	asset	asset	PROPN
ftr-493	76	11	,	,	PUNCT
ftr-493	76	12	a	a	DET
ftr-493	76	13	general	general	ADJ
ftr-493	76	14	motors	motor	NOUN
ftr-493	76	15	debenture	debenture	NOUN
ftr-493	76	16	for	for	ADP
ftr-493	76	17	example	example	NOUN
ftr-493	76	18	,	,	PUNCT
ftr-493	76	19	and	and	CCONJ
ftr-493	76	20	b	b	NOUN
ftr-493	76	21	may	may	AUX
ftr-493	76	22	own	own	VERB
ftr-493	76	23	a	a	DET
ftr-493	76	24	floating	float	VERB
ftr-493	76	25	interest	interest	NOUN
ftr-493	76	26	rate	rate	NOUN
ftr-493	76	27	asset	asset	PROPN
ftr-493	76	28	,	,	PUNCT
ftr-493	76	29	a	a	DET
ftr-493	76	30	libor	libor	PROPN
ftr-493	76	31	-	-	PUNCT
ftr-493	76	32	based	base	VERB
ftr-493	76	33	bank	bank	NOUN
ftr-493	76	34	deposit	deposit	NOUN
ftr-493	76	35	note	note	NOUN
ftr-493	76	36	for	for	ADP
ftr-493	76	37	example	example	NOUN
ftr-493	76	38	,	,	PUNCT
ftr-493	76	39	and	and	CCONJ
ftr-493	76	40	each	each	PRON
ftr-493	76	41	may	may	AUX
ftr-493	76	42	wish	wish	VERB
ftr-493	76	43	,	,	PUNCT
ftr-493	76	44	by	by	ADP
ftr-493	76	45	entering	enter	VERB
ftr-493	76	46	into	into	ADP
ftr-493	76	47	the	the	DET
ftr-493	76	48	swap	swap	NOUN
ftr-493	76	49	,	,	PUNCT
ftr-493	76	50	to	to	PART
ftr-493	76	51	convert	convert	VERB
ftr-493	76	52	its	its	PRON
ftr-493	76	53	"	"	PUNCT
ftr-493	76	54	real	real	ADJ
ftr-493	76	55	"	"	PUNCT
ftr-493	76	56	asset	asset	NOUN
ftr-493	76	57	into	into	ADP
ftr-493	76	58	a	a	DET
ftr-493	76	59	"	"	PUNCT
ftr-493	76	60	synthetic	synthetic	ADJ
ftr-493	76	61	"	"	PUNCT
ftr-493	76	62	floating	float	VERB
ftr-493	76	63	rate	rate	NOUN
ftr-493	76	64	asset	asset	NOUN
ftr-493	76	65	,	,	PUNCT
ftr-493	76	66	in	in	ADP
ftr-493	76	67	the	the	DET
ftr-493	76	68	case	case	NOUN
ftr-493	76	69	of	of	ADP
ftr-493	76	70	a	a	PRON
ftr-493	76	71	,	,	PUNCT
ftr-493	76	72	or	or	CCONJ
ftr-493	76	73	"	"	PUNCT
ftr-493	76	74	synthetic	synthetic	ADJ
ftr-493	76	75	"	"	PUNCT
ftr-493	76	76	fixed	fix	VERB
ftr-493	76	77	rate	rate	NOUN
ftr-493	76	78	asset	asset	NOUN
ftr-493	76	79	,	,	PUNCT
ftr-493	76	80	in	in	ADP
ftr-493	76	81	the	the	DET
ftr-493	76	82	case	case	NOUN
ftr-493	76	83	of	of	ADP
ftr-493	76	84	b.	b.	PROPN
ftr-493	76	85	this	this	PRON
ftr-493	76	86	would	would	AUX
ftr-493	76	87	be	be	AUX
ftr-493	76	88	an	an	DET
ftr-493	76	89	example	example	NOUN
ftr-493	76	90	of	of	ADP
ftr-493	76	91	an	an	DET
ftr-493	76	92	asset	asset	NOUN
ftr-493	76	93	-	-	PUNCT
ftr-493	76	94	based	base	VERB
ftr-493	76	95	swap	swap	NOUN
ftr-493	76	96	strategy	strategy	NOUN
ftr-493	76	97	.	.	PUNCT
ftr-493	77	1	10	10	NUM
ftr-493	77	2	.	.	X
ftr-493	78	1	a	a	PRON
ftr-493	78	2	and	and	CCONJ
ftr-493	78	3	b	b	NOUN
ftr-493	78	4	are	be	AUX
ftr-493	78	5	assumed	assume	VERB
ftr-493	78	6	to	to	PART
ftr-493	78	7	be	be	AUX
ftr-493	78	8	accrual	accrual	ADJ
ftr-493	78	9	basis	basis	NOUN
ftr-493	78	10	taxpayers	taxpayer	NOUN
ftr-493	78	11	throughout	throughout	ADP
ftr-493	78	12	this	this	DET
ftr-493	78	13	article	article	NOUN
ftr-493	78	14	.	.	PUNCT
ftr-493	79	1	11	11	NUM
ftr-493	79	2	.	.	PUNCT
ftr-493	80	1	in	in	ADP
ftr-493	80	2	practice	practice	NOUN
ftr-493	80	3	,	,	PUNCT
ftr-493	80	4	in	in	ADP
ftr-493	80	5	order	order	NOUN
ftr-493	80	6	to	to	PART
ftr-493	80	7	limit	limit	VERB
ftr-493	80	8	b	b	NOUN
ftr-493	80	9	's	's	PART
ftr-493	80	10	exposure	exposure	NOUN
ftr-493	80	11	to	to	ADP
ftr-493	80	12	a	a	DET
ftr-493	80	13	's	's	PART
ftr-493	80	14	credit	credit	NOUN
ftr-493	80	15	risk	risk	NOUN
ftr-493	80	16	,	,	PUNCT
ftr-493	80	17	both	both	CCONJ
ftr-493	80	18	the	the	DET
ftr-493	80	19	fixed	fix	VERB
ftr-493	80	20	and	and	CCONJ
ftr-493	80	21	floating	float	VERB
ftr-493	80	22	payments	payment	NOUN
ftr-493	80	23	would	would	AUX
ftr-493	80	24	generally	generally	ADV
ftr-493	80	25	be	be	AUX
ftr-493	80	26	made	make	VERB
ftr-493	80	27	on	on	ADP
ftr-493	80	28	a	a	DET
ftr-493	80	29	quarterly	quarterly	ADJ
ftr-493	80	30	basis	basis	NOUN
ftr-493	80	31	and	and	CCONJ
ftr-493	80	32	would	would	AUX
ftr-493	80	33	be	be	AUX
ftr-493	80	34	netted	net	VERB
ftr-493	80	35	(	(	PUNCT
ftr-493	80	36	i.e.	i.e.	X
ftr-493	80	37	,	,	PUNCT
ftr-493	80	38	depending	depend	VERB
ftr-493	80	39	on	on	ADP
ftr-493	80	40	the	the	DET
ftr-493	80	41	relationship	relationship	NOUN
ftr-493	80	42	of	of	ADP
ftr-493	80	43	current	current	ADJ
ftr-493	80	44	libor	libor	PROPN
ftr-493	80	45	rates	rate	NOUN
ftr-493	80	46	to	to	ADP
ftr-493	80	47	the	the	DET
ftr-493	80	48	10	10	NUM
ftr-493	80	49	%	%	NOUN
ftr-493	80	50	fixed	fix	VERB
ftr-493	80	51	rate	rate	NOUN
ftr-493	80	52	under	under	ADP
ftr-493	80	53	the	the	DET
ftr-493	80	54	swap	swap	NOUN
ftr-493	80	55	,	,	PUNCT
ftr-493	80	56	either	either	CCONJ
ftr-493	80	57	a	a	PRON
ftr-493	80	58	or	or	CCONJ
ftr-493	80	59	b	b	NOUN
ftr-493	80	60	,	,	PUNCT
ftr-493	80	61	but	but	CCONJ
ftr-493	80	62	not	not	PART
ftr-493	80	63	both	both	PRON
ftr-493	80	64	,	,	PUNCT
ftr-493	80	65	would	would	AUX
ftr-493	80	66	make	make	VERB
ftr-493	80	67	a	a	DET
ftr-493	80	68	payment	payment	NOUN
ftr-493	80	69	each	each	DET
ftr-493	80	70	quarter	quarter	NOUN
ftr-493	80	71	)	)	PUNCT
ftr-493	80	72	.	.	PUNCT
ftr-493	81	1	the	the	DET
ftr-493	81	2	examples	example	NOUN
ftr-493	81	3	in	in	ADP
ftr-493	81	4	the	the	DET
ftr-493	81	5	text	text	NOUN
ftr-493	81	6	provide	provide	VERB
ftr-493	81	7	for	for	ADP
ftr-493	81	8	only	only	ADV
ftr-493	81	9	one	one	NUM
ftr-493	81	10	fixed	fix	VERB
ftr-493	81	11	swap	swap	NOUN
ftr-493	81	12	payment	payment	NOUN
ftr-493	81	13	each	each	DET
ftr-493	81	14	year	year	NOUN
ftr-493	81	15	in	in	ADP
ftr-493	81	16	order	order	NOUN
ftr-493	81	17	to	to	PART
ftr-493	81	18	make	make	VERB
ftr-493	81	19	the	the	DET
ftr-493	81	20	analyses	analysis	NOUN
ftr-493	81	21	somewhat	somewhat	ADV
ftr-493	81	22	easier	easy	ADJ
ftr-493	81	23	to	to	PART
ftr-493	81	24	follow	follow	VERB
ftr-493	81	25	.	.	PUNCT
ftr-493	82	1	12	12	NUM
ftr-493	82	2	.	.	PUNCT
ftr-493	83	1	because	because	SCONJ
ftr-493	83	2	of	of	ADP
ftr-493	83	3	market	market	NOUN
ftr-493	83	4	imperfections	imperfection	NOUN
ftr-493	83	5	,	,	PUNCT
ftr-493	83	6	for	for	ADP
ftr-493	83	7	example	example	NOUN
ftr-493	83	8	,	,	PUNCT
ftr-493	83	9	a	a	PRON
ftr-493	83	10	may	may	AUX
ftr-493	83	11	be	be	AUX
ftr-493	83	12	unable	unable	ADJ
ftr-493	83	13	to	to	PART
ftr-493	83	14	borrow	borrow	VERB
ftr-493	83	15	on	on	ADP
ftr-493	83	16	a	a	DET
ftr-493	83	17	fixed	fix	VERB
ftr-493	83	18	rate	rate	NOUN
ftr-493	83	19	basis	basis	NOUN
ftr-493	83	20	in	in	ADP
ftr-493	83	21	the	the	DET
ftr-493	83	22	public	public	ADJ
ftr-493	83	23	or	or	CCONJ
ftr-493	83	24	private	private	ADJ
ftr-493	83	25	debt	debt	NOUN
ftr-493	83	26	markets	market	NOUN
ftr-493	83	27	,	,	PUNCT
ftr-493	83	28	or	or	CCONJ
ftr-493	83	29	may	may	AUX
ftr-493	83	30	be	be	AUX
ftr-493	83	31	able	able	ADJ
ftr-493	83	32	to	to	PART
ftr-493	83	33	borrow	borrow	VERB
ftr-493	83	34	in	in	ADP
ftr-493	83	35	those	those	DET
ftr-493	83	36	markets	market	NOUN
ftr-493	83	37	only	only	ADV
ftr-493	83	38	at	at	ADP
ftr-493	83	39	a	a	DET
ftr-493	83	40	rate	rate	NOUN
ftr-493	83	41	substantially	substantially	ADV
ftr-493	83	42	in	in	ADP
ftr-493	83	43	excess	excess	NOUN
ftr-493	83	44	of	of	ADP
ftr-493	83	45	10	10	NUM
ftr-493	83	46	%	%	NOUN
ftr-493	83	47	.	.	PUNCT
ftr-493	84	1	similarly	similarly	ADV
ftr-493	84	2	,	,	PUNCT
ftr-493	84	3	imperfections	imperfection	NOUN
ftr-493	84	4	in	in	ADP
ftr-493	84	5	the	the	DET
ftr-493	84	6	debt	debt	NOUN
ftr-493	84	7	markets	market	NOUN
ftr-493	84	8	may	may	AUX
ftr-493	84	9	prevent	prevent	VERB
ftr-493	84	10	b	b	NOUN
ftr-493	84	11	from	from	ADP
ftr-493	84	12	borrowing	borrow	VERB
ftr-493	84	13	at	at	ADP
ftr-493	84	14	90	90	NUM
ftr-493	84	15	-	-	PUNCT
ftr-493	84	16	day	day	NOUN
ftr-493	84	17	libor	libor	PROPN
ftr-493	84	18	rates	rate	NOUN
ftr-493	84	19	.	.	PUNCT
ftr-493	85	1	the	the	DET
ftr-493	85	2	use	use	NOUN
ftr-493	85	3	of	of	ADP
ftr-493	85	4	swaps	swap	NOUN
ftr-493	85	5	can	can	AUX
ftr-493	85	6	allow	allow	VERB
ftr-493	85	7	both	both	DET
ftr-493	85	8	parties	party	NOUN
ftr-493	85	9	to	to	PART
ftr-493	85	10	borrow	borrow	VERB
ftr-493	85	11	,	,	PUNCT
ftr-493	85	12	on	on	ADP
ftr-493	85	13	a	a	DET
ftr-493	85	14	net	net	ADJ
ftr-493	85	15	basis	basis	NOUN
ftr-493	85	16	,	,	PUNCT
ftr-493	85	17	at	at	ADP
ftr-493	85	18	more	more	ADV
ftr-493	85	19	attractive	attractive	ADJ
ftr-493	85	20	interest	interest	NOUN
ftr-493	85	21	rates	rate	NOUN
ftr-493	85	22	,	,	PUNCT
ftr-493	85	23	thereby	thereby	ADV
ftr-493	85	24	increasing	increase	VERB
ftr-493	85	25	the	the	DET
ftr-493	85	26	overall	overall	ADJ
ftr-493	85	27	efficiency	efficiency	NOUN
ftr-493	85	28	of	of	ADP
ftr-493	85	29	the	the	DET
ftr-493	85	30	markets	market	NOUN
ftr-493	85	31	for	for	ADP
ftr-493	85	32	borrowed	borrow	VERB
ftr-493	85	33	funds	fund	NOUN
ftr-493	85	34	.	.	PUNCT
ftr-493	86	1	19931	19931	NUM
ftr-493	86	2	florida	florida	PROPN
ftr-493	86	3	tax	tax	PROPN
ftr-493	86	4	review	review	PROPN
ftr-493	86	5	b.	b.	VERB
ftr-493	86	6	the	the	DET
ftr-493	86	7	use	use	NOUN
ftr-493	86	8	of	of	ADP
ftr-493	86	9	interest	interest	NOUN
ftr-493	86	10	rate	rate	NOUN
ftr-493	86	11	swaps	swap	NOUN
ftr-493	86	12	to	to	PART
ftr-493	86	13	create	create	VERB
ftr-493	86	14	synthetic	synthetic	ADJ
ftr-493	86	15	tax	tax	NOUN
ftr-493	86	16	-	-	PUNCT
ftr-493	86	17	advantaged	advantaged	ADJ
ftr-493	86	18	assets	asset	NOUN
ftr-493	86	19	as	as	SCONJ
ftr-493	86	20	described	describe	VERB
ftr-493	86	21	in	in	ADP
ftr-493	86	22	part	part	NOUN
ftr-493	86	23	ii(a	ii(a	SYM
ftr-493	86	24	)	)	PUNCT
ftr-493	86	25	supra	supra	NOUN
ftr-493	86	26	,	,	PUNCT
ftr-493	86	27	swaps	swap	NOUN
ftr-493	86	28	can	can	AUX
ftr-493	86	29	be	be	AUX
ftr-493	86	30	used	use	VERB
ftr-493	86	31	to	to	PART
ftr-493	86	32	create	create	VERB
ftr-493	86	33	"	"	PUNCT
ftr-493	86	34	synthetic	synthetic	ADJ
ftr-493	86	35	"	"	PUNCT
ftr-493	86	36	assets	asset	NOUN
ftr-493	86	37	.	.	PUNCT
ftr-493	87	1	for	for	ADP
ftr-493	87	2	example	example	NOUN
ftr-493	87	3	,	,	PUNCT
ftr-493	87	4	suppose	suppose	VERB
ftr-493	87	5	a	a	PRON
ftr-493	87	6	owns	own	VERB
ftr-493	87	7	a	a	DET
ftr-493	87	8	$	$	SYM
ftr-493	87	9	1,000	1,000	NUM
ftr-493	87	10	principal	principal	NOUN
ftr-493	87	11	amount	amount	NOUN
ftr-493	87	12	u.s	u.s	PROPN
ftr-493	87	13	.	.	PROPN
ftr-493	87	14	treasury	treasury	PROPN
ftr-493	87	15	bond	bond	NOUN
ftr-493	87	16	that	that	PRON
ftr-493	87	17	pays	pay	VERB
ftr-493	87	18	10	10	NUM
ftr-493	87	19	%	%	NOUN
ftr-493	87	20	interest	interest	NOUN
ftr-493	87	21	per	per	ADP
ftr-493	87	22	year	year	NOUN
ftr-493	87	23	and	and	CCONJ
ftr-493	87	24	matures	mature	NOUN
ftr-493	87	25	in	in	ADP
ftr-493	87	26	two	two	NUM
ftr-493	87	27	years	year	NOUN
ftr-493	87	28	.	.	PUNCT
ftr-493	88	1	a	a	DET
ftr-493	88	2	likes	like	NOUN
ftr-493	88	3	the	the	DET
ftr-493	88	4	credit	credit	NOUN
ftr-493	88	5	characteristics	characteristic	NOUN
ftr-493	88	6	of	of	ADP
ftr-493	88	7	this	this	DET
ftr-493	88	8	bond	bond	NOUN
ftr-493	88	9	but	but	CCONJ
ftr-493	88	10	,	,	PUNCT
ftr-493	88	11	because	because	SCONJ
ftr-493	88	12	a	a	PRON
ftr-493	88	13	believes	believe	VERB
ftr-493	88	14	interest	interest	NOUN
ftr-493	88	15	rates	rate	NOUN
ftr-493	88	16	will	will	AUX
ftr-493	88	17	rise	rise	VERB
ftr-493	88	18	over	over	ADP
ftr-493	88	19	the	the	DET
ftr-493	88	20	next	next	ADJ
ftr-493	88	21	two	two	NUM
ftr-493	88	22	years	year	NOUN
ftr-493	88	23	,	,	PUNCT
ftr-493	88	24	wishes	wish	VERB
ftr-493	88	25	to	to	PART
ftr-493	88	26	convert	convert	VERB
ftr-493	88	27	the	the	DET
ftr-493	88	28	fixed	fix	VERB
ftr-493	88	29	rate	rate	NOUN
ftr-493	88	30	return	return	NOUN
ftr-493	88	31	on	on	ADP
ftr-493	88	32	the	the	DET
ftr-493	88	33	bond	bond	NOUN
ftr-493	88	34	into	into	ADP
ftr-493	88	35	a	a	DET
ftr-493	88	36	libor	libor	PROPN
ftr-493	88	37	-	-	PUNCT
ftr-493	88	38	based	base	VERB
ftr-493	88	39	floating	float	VERB
ftr-493	88	40	rate	rate	NOUN
ftr-493	88	41	return	return	NOUN
ftr-493	88	42	.	.	PUNCT
ftr-493	89	1	accordingly	accordingly	ADV
ftr-493	89	2	,	,	PUNCT
ftr-493	89	3	a	a	DET
ftr-493	89	4	enters	enter	NOUN
ftr-493	89	5	into	into	ADP
ftr-493	89	6	the	the	DET
ftr-493	89	7	asset	asset	NOUN
ftr-493	89	8	-	-	PUNCT
ftr-493	89	9	based	base	VERB
ftr-493	89	10	interest	interest	NOUN
ftr-493	89	11	rate	rate	NOUN
ftr-493	89	12	swap	swap	PROPN
ftr-493	89	13	described	describe	VERB
ftr-493	89	14	in	in	ADP
ftr-493	89	15	part	part	NOUN
ftr-493	89	16	ii(a	ii(a	SYM
ftr-493	89	17	)	)	PUNCT
ftr-493	89	18	supra	supra	NOUN
ftr-493	89	19	.	.	PUNCT
ftr-493	90	1	economically	economically	ADV
ftr-493	90	2	,	,	PUNCT
ftr-493	90	3	a	a	PRON
ftr-493	90	4	has	have	AUX
ftr-493	90	5	created	create	VERB
ftr-493	90	6	a	a	DET
ftr-493	90	7	synthetic	synthetic	ADJ
ftr-493	90	8	two	two	NUM
ftr-493	90	9	-	-	PUNCT
ftr-493	90	10	year	year	NOUN
ftr-493	90	11	bond	bond	NOUN
ftr-493	90	12	that	that	PRON
ftr-493	90	13	pays	pay	VERB
ftr-493	90	14	interest	interest	NOUN
ftr-493	90	15	quarterly	quarterly	ADV
ftr-493	90	16	based	base	VERB
ftr-493	90	17	on	on	ADP
ftr-493	90	18	current	current	ADJ
ftr-493	90	19	90	90	NUM
ftr-493	90	20	-	-	PUNCT
ftr-493	90	21	day	day	NOUN
ftr-493	90	22	libor	libor	PROPN
ftr-493	90	23	interest	interest	NOUN
ftr-493	90	24	rates	rate	NOUN
ftr-493	90	25	and	and	CCONJ
ftr-493	90	26	that	that	PRON
ftr-493	90	27	provides	provide	VERB
ftr-493	90	28	for	for	ADP
ftr-493	90	29	a	a	DET
ftr-493	90	30	bullet	bullet	NOUN
ftr-493	90	31	$	$	SYM
ftr-493	90	32	1,000	1,000	NUM
ftr-493	90	33	payment	payment	NOUN
ftr-493	90	34	of	of	ADP
ftr-493	90	35	principal	principal	NOUN
ftr-493	90	36	,	,	PUNCT
ftr-493	90	37	"	"	PUNCT
ftr-493	90	38	guaranteed	guarantee	VERB
ftr-493	90	39	"	"	PUNCT
ftr-493	90	40	by	by	ADP
ftr-493	90	41	the	the	DET
ftr-493	90	42	u.s	u.s	PROPN
ftr-493	90	43	.	.	PROPN
ftr-493	90	44	government	government	NOUN
ftr-493	90	45	,	,	PUNCT
ftr-493	90	46	at	at	ADP
ftr-493	90	47	the	the	DET
ftr-493	90	48	end	end	NOUN
ftr-493	90	49	of	of	ADP
ftr-493	90	50	two	two	NUM
ftr-493	90	51	years	year	NOUN
ftr-493	90	52	.	.	PUNCT
ftr-493	91	1	thus	thus	ADV
ftr-493	91	2	,	,	PUNCT
ftr-493	91	3	if	if	SCONJ
ftr-493	91	4	the	the	DET
ftr-493	91	5	libor	libor	PROPN
ftr-493	91	6	-	-	PUNCT
ftr-493	91	7	based	base	VERB
ftr-493	91	8	payments	payment	NOUN
ftr-493	91	9	made	make	VERB
ftr-493	91	10	by	by	ADP
ftr-493	91	11	b	b	NOUN
ftr-493	91	12	in	in	ADP
ftr-493	91	13	a	a	DET
ftr-493	91	14	given	give	VERB
ftr-493	91	15	year	year	NOUN
ftr-493	91	16	equal	equal	ADJ
ftr-493	91	17	$	$	SYM
ftr-493	91	18	110	110	NUM
ftr-493	91	19	(	(	PUNCT
ftr-493	91	20	i.e.	i.e.	X
ftr-493	91	21	,	,	PUNCT
ftr-493	91	22	11	11	NUM
ftr-493	91	23	%	%	NOUN
ftr-493	91	24	of	of	ADP
ftr-493	91	25	the	the	DET
ftr-493	91	26	swap	swap	NOUN
ftr-493	91	27	's	's	PART
ftr-493	91	28	notional	notional	ADJ
ftr-493	91	29	principal	principal	ADJ
ftr-493	91	30	amount	amount	NOUN
ftr-493	91	31	of	of	ADP
ftr-493	91	32	$	$	SYM
ftr-493	91	33	1,000	1,000	NUM
ftr-493	91	34	)	)	PUNCT
ftr-493	91	35	,	,	PUNCT
ftr-493	91	36	a	a	PRON
ftr-493	91	37	's	's	PART
ftr-493	91	38	net	net	ADJ
ftr-493	91	39	economic	economic	ADJ
ftr-493	91	40	income	income	NOUN
ftr-493	91	41	from	from	ADP
ftr-493	91	42	the	the	DET
ftr-493	91	43	swap	swap	NOUN
ftr-493	91	44	will	will	AUX
ftr-493	91	45	equal	equal	VERB
ftr-493	91	46	$	$	SYM
ftr-493	91	47	10	10	NUM
ftr-493	91	48	(	(	PUNCT
ftr-493	91	49	i.e.	i.e.	X
ftr-493	91	50	,	,	PUNCT
ftr-493	91	51	$	$	SYM
ftr-493	91	52	110	110	NUM
ftr-493	91	53	received	receive	VERB
ftr-493	91	54	from	from	ADP
ftr-493	91	55	b	b	PROPN
ftr-493	91	56	minus	minus	CCONJ
ftr-493	91	57	$	$	SYM
ftr-493	91	58	100	100	NUM
ftr-493	91	59	of	of	ADP
ftr-493	91	60	fixed	fix	VERB
ftr-493	91	61	payments	payment	NOUN
ftr-493	91	62	made	make	VERB
ftr-493	91	63	by	by	ADP
ftr-493	91	64	a	a	PRON
ftr-493	91	65	)	)	PUNCT
ftr-493	91	66	.	.	PUNCT
ftr-493	92	1	this	this	DET
ftr-493	92	2	net	net	ADJ
ftr-493	92	3	economic	economic	ADJ
ftr-493	92	4	income	income	NOUN
ftr-493	92	5	coupled	couple	VERB
ftr-493	92	6	with	with	ADP
ftr-493	92	7	the	the	DET
ftr-493	92	8	$	$	SYM
ftr-493	92	9	100	100	NUM
ftr-493	92	10	(	(	PUNCT
ftr-493	92	11	i.e.	i.e.	X
ftr-493	92	12	,	,	PUNCT
ftr-493	92	13	10	10	NUM
ftr-493	92	14	%	%	NOUN
ftr-493	92	15	of	of	ADP
ftr-493	92	16	the	the	DET
ftr-493	92	17	bond	bond	NOUN
ftr-493	92	18	's	's	PART
ftr-493	92	19	principal	principal	ADJ
ftr-493	92	20	amount	amount	NOUN
ftr-493	92	21	of	of	ADP
ftr-493	92	22	$	$	SYM
ftr-493	92	23	1,000	1,000	NUM
ftr-493	92	24	)	)	PUNCT
ftr-493	92	25	of	of	ADP
ftr-493	92	26	interest	interest	NOUN
ftr-493	92	27	received	receive	VERB
ftr-493	92	28	on	on	ADP
ftr-493	92	29	the	the	DET
ftr-493	92	30	bond	bond	NOUN
ftr-493	92	31	that	that	PRON
ftr-493	92	32	year	year	NOUN
ftr-493	92	33	results	result	VERB
ftr-493	92	34	in	in	ADP
ftr-493	92	35	a	a	PRON
ftr-493	92	36	's	's	AUX
ftr-493	92	37	receiving	receive	VERB
ftr-493	92	38	a	a	DET
ftr-493	92	39	total	total	NOUN
ftr-493	92	40	of	of	ADP
ftr-493	92	41	$	$	SYM
ftr-493	92	42	110	110	NUM
ftr-493	92	43	,	,	PUNCT
ftr-493	92	44	equal	equal	ADJ
ftr-493	92	45	to	to	ADP
ftr-493	92	46	the	the	DET
ftr-493	92	47	amount	amount	NOUN
ftr-493	92	48	of	of	ADP
ftr-493	92	49	the	the	DET
ftr-493	92	50	liborbased	liborbase	VERB
ftr-493	92	51	payments	payment	NOUN
ftr-493	92	52	received	receive	VERB
ftr-493	92	53	from	from	ADP
ftr-493	92	54	b.	b.	PROPN
ftr-493	92	55	conversely	conversely	ADV
ftr-493	92	56	,	,	PUNCT
ftr-493	92	57	if	if	SCONJ
ftr-493	92	58	the	the	DET
ftr-493	92	59	libor	libor	PROPN
ftr-493	92	60	-	-	PUNCT
ftr-493	92	61	based	base	VERB
ftr-493	92	62	payments	payment	NOUN
ftr-493	92	63	in	in	ADP
ftr-493	92	64	any	any	DET
ftr-493	92	65	given	give	VERB
ftr-493	92	66	year	year	NOUN
ftr-493	92	67	equal	equal	ADJ
ftr-493	92	68	$	$	SYM
ftr-493	92	69	90	90	NUM
ftr-493	92	70	(	(	PUNCT
ftr-493	92	71	i.e.	i.e.	X
ftr-493	92	72	,	,	PUNCT
ftr-493	92	73	9	9	NUM
ftr-493	92	74	%	%	NOUN
ftr-493	92	75	of	of	ADP
ftr-493	92	76	the	the	DET
ftr-493	92	77	swap	swap	NOUN
ftr-493	92	78	's	's	PART
ftr-493	92	79	notional	notional	ADJ
ftr-493	92	80	principal	principal	ADJ
ftr-493	92	81	amount	amount	NOUN
ftr-493	92	82	of	of	ADP
ftr-493	92	83	$	$	SYM
ftr-493	92	84	1,000	1,000	NUM
ftr-493	92	85	)	)	PUNCT
ftr-493	92	86	,	,	PUNCT
ftr-493	92	87	a	a	PRON
ftr-493	92	88	's	's	PART
ftr-493	92	89	net	net	ADJ
ftr-493	92	90	economic	economic	ADJ
ftr-493	92	91	income	income	NOUN
ftr-493	92	92	from	from	ADP
ftr-493	92	93	the	the	DET
ftr-493	92	94	swap	swap	NOUN
ftr-493	92	95	will	will	AUX
ftr-493	92	96	equal	equal	VERB
ftr-493	92	97	a	a	DET
ftr-493	92	98	loss	loss	NOUN
ftr-493	92	99	of	of	ADP
ftr-493	92	100	$	$	SYM
ftr-493	92	101	10	10	NUM
ftr-493	92	102	(	(	PUNCT
ftr-493	92	103	i.e.	i.e.	X
ftr-493	92	104	,	,	PUNCT
ftr-493	92	105	$	$	SYM
ftr-493	92	106	90	90	NUM
ftr-493	92	107	received	receive	VERB
ftr-493	92	108	from	from	ADP
ftr-493	92	109	b	b	PROPN
ftr-493	92	110	minus	minus	CCONJ
ftr-493	92	111	$	$	SYM
ftr-493	92	112	100	100	NUM
ftr-493	92	113	of	of	ADP
ftr-493	92	114	fixed	fix	VERB
ftr-493	92	115	payments	payment	NOUN
ftr-493	92	116	made	make	VERB
ftr-493	92	117	by	by	ADP
ftr-493	92	118	a	a	PRON
ftr-493	92	119	)	)	PUNCT
ftr-493	92	120	.	.	PUNCT
ftr-493	93	1	again	again	ADV
ftr-493	93	2	,	,	PUNCT
ftr-493	93	3	this	this	DET
ftr-493	93	4	net	net	ADJ
ftr-493	93	5	economic	economic	ADJ
ftr-493	93	6	loss	loss	NOUN
ftr-493	93	7	coupled	couple	VERB
ftr-493	93	8	with	with	ADP
ftr-493	93	9	the	the	DET
ftr-493	93	10	$	$	SYM
ftr-493	93	11	100	100	NUM
ftr-493	93	12	of	of	ADP
ftr-493	93	13	interest	interest	NOUN
ftr-493	93	14	received	receive	VERB
ftr-493	93	15	by	by	ADP
ftr-493	93	16	a	a	PRON
ftr-493	93	17	on	on	ADP
ftr-493	93	18	the	the	DET
ftr-493	93	19	bond	bond	NOUN
ftr-493	93	20	results	result	NOUN
ftr-493	93	21	in	in	ADP
ftr-493	93	22	a	a	DET
ftr-493	93	23	's	's	PART
ftr-493	93	24	economic	economic	ADJ
ftr-493	93	25	income	income	NOUN
ftr-493	93	26	being	be	AUX
ftr-493	93	27	$	$	SYM
ftr-493	93	28	100	100	NUM
ftr-493	93	29	minus	minus	ADP
ftr-493	93	30	the	the	DET
ftr-493	93	31	loss	loss	NOUN
ftr-493	93	32	of	of	ADP
ftr-493	93	33	$	$	SYM
ftr-493	93	34	10	10	NUM
ftr-493	93	35	,	,	PUNCT
ftr-493	93	36	or	or	CCONJ
ftr-493	93	37	$	$	SYM
ftr-493	93	38	90	90	NUM
ftr-493	93	39	,	,	PUNCT
ftr-493	93	40	the	the	DET
ftr-493	93	41	amount	amount	NOUN
ftr-493	93	42	of	of	ADP
ftr-493	93	43	the	the	DET
ftr-493	93	44	libor	libor	PROPN
ftr-493	93	45	-	-	PUNCT
ftr-493	93	46	based	base	VERB
ftr-493	93	47	payments	payment	NOUN
ftr-493	93	48	.	.	PUNCT
ftr-493	94	1	3	3	NUM
ftr-493	94	2	for	for	ADP
ftr-493	94	3	income	income	NOUN
ftr-493	94	4	tax	tax	NOUN
ftr-493	94	5	purposes	purpose	NOUN
ftr-493	94	6	,	,	PUNCT
ftr-493	94	7	however	however	ADV
ftr-493	94	8	,	,	PUNCT
ftr-493	94	9	the	the	DET
ftr-493	94	10	interest	interest	NOUN
ftr-493	94	11	on	on	ADP
ftr-493	94	12	the	the	DET
ftr-493	94	13	u.s	u.s	PROPN
ftr-493	94	14	.	.	PROPN
ftr-493	94	15	treasury	treasury	PROPN
ftr-493	94	16	bond	bond	NOUN
ftr-493	94	17	and	and	CCONJ
ftr-493	94	18	the	the	DET
ftr-493	94	19	net	net	ADJ
ftr-493	94	20	income	income	NOUN
ftr-493	94	21	or	or	CCONJ
ftr-493	94	22	loss	loss	NOUN
ftr-493	94	23	from	from	ADP
ftr-493	94	24	the	the	DET
ftr-493	94	25	interest	interest	NOUN
ftr-493	94	26	rate	rate	NOUN
ftr-493	94	27	swap	swap	NOUN
ftr-493	94	28	are	be	AUX
ftr-493	94	29	accounted	account	VERB
ftr-493	94	30	for	for	ADP
ftr-493	94	31	separately	separately	ADV
ftr-493	94	32	.	.	PUNCT
ftr-493	95	1	4	4	NUM
ftr-493	95	2	thus	thus	ADV
ftr-493	95	3	,	,	PUNCT
ftr-493	95	4	each	each	DET
ftr-493	95	5	year	year	NOUN
ftr-493	95	6	a	a	DET
ftr-493	95	7	(	(	PUNCT
ftr-493	95	8	i	i	NOUN
ftr-493	95	9	)	)	PUNCT
ftr-493	95	10	includes	include	VERB
ftr-493	95	11	the	the	DET
ftr-493	95	12	interest	interest	NOUN
ftr-493	95	13	income	income	NOUN
ftr-493	95	14	on	on	ADP
ftr-493	95	15	the	the	DET
ftr-493	95	16	bond	bond	NOUN
ftr-493	95	17	in	in	ADP
ftr-493	95	18	taxable	taxable	ADJ
ftr-493	95	19	income	income	NOUN
ftr-493	95	20	and	and	CCONJ
ftr-493	95	21	(	(	PUNCT
ftr-493	95	22	ii	ii	NOUN
ftr-493	95	23	)	)	PUNCT
ftr-493	95	24	includes	include	VERB
ftr-493	95	25	,	,	PUNCT
ftr-493	95	26	or	or	CCONJ
ftr-493	95	27	deducts	deduct	NOUN
ftr-493	95	28	,	,	PUNCT
ftr-493	95	29	as	as	SCONJ
ftr-493	95	30	the	the	DET
ftr-493	95	31	case	case	NOUN
ftr-493	95	32	may	may	AUX
ftr-493	95	33	be	be	AUX
ftr-493	95	34	,	,	PUNCT
ftr-493	95	35	the	the	DET
ftr-493	95	36	net	net	ADJ
ftr-493	95	37	13	13	NUM
ftr-493	95	38	.	.	PUNCT
ftr-493	96	1	the	the	DET
ftr-493	96	2	reason	reason	NOUN
ftr-493	96	3	for	for	ADP
ftr-493	96	4	these	these	DET
ftr-493	96	5	results	result	NOUN
ftr-493	96	6	is	be	AUX
ftr-493	96	7	that	that	SCONJ
ftr-493	96	8	a	a	PRON
ftr-493	96	9	's	's	PART
ftr-493	96	10	$	$	SYM
ftr-493	96	11	100	100	NUM
ftr-493	96	12	per	per	ADP
ftr-493	96	13	year	year	NOUN
ftr-493	96	14	liability	liability	NOUN
ftr-493	96	15	to	to	ADP
ftr-493	96	16	b	b	NOUN
ftr-493	96	17	under	under	ADP
ftr-493	96	18	the	the	DET
ftr-493	96	19	swap	swap	NOUN
ftr-493	96	20	is	be	AUX
ftr-493	96	21	exactly	exactly	ADV
ftr-493	96	22	offset	offset	VERB
ftr-493	96	23	,	,	PUNCT
ftr-493	96	24	as	as	ADP
ftr-493	96	25	an	an	DET
ftr-493	96	26	economic	economic	ADJ
ftr-493	96	27	matter	matter	NOUN
ftr-493	96	28	,	,	PUNCT
ftr-493	96	29	by	by	ADP
ftr-493	96	30	a	a	DET
ftr-493	96	31	's	's	PART
ftr-493	96	32	right	right	NOUN
ftr-493	96	33	to	to	PART
ftr-493	96	34	receive	receive	VERB
ftr-493	96	35	$	$	SYM
ftr-493	96	36	100	100	NUM
ftr-493	96	37	of	of	ADP
ftr-493	96	38	interest	interest	NOUN
ftr-493	96	39	each	each	DET
ftr-493	96	40	year	year	NOUN
ftr-493	96	41	on	on	ADP
ftr-493	96	42	the	the	DET
ftr-493	96	43	bond	bond	NOUN
ftr-493	96	44	,	,	PUNCT
ftr-493	96	45	leaving	leave	VERB
ftr-493	96	46	a	a	PRON
ftr-493	96	47	with	with	ADP
ftr-493	96	48	annual	annual	ADJ
ftr-493	96	49	net	net	ADJ
ftr-493	96	50	income	income	NOUN
ftr-493	96	51	equal	equal	ADJ
ftr-493	96	52	to	to	ADP
ftr-493	96	53	the	the	DET
ftr-493	96	54	amount	amount	NOUN
ftr-493	96	55	of	of	ADP
ftr-493	96	56	the	the	DET
ftr-493	96	57	libor	libor	PROPN
ftr-493	96	58	-	-	PUNCT
ftr-493	96	59	based	base	VERB
ftr-493	96	60	payments	payment	NOUN
ftr-493	96	61	received	receive	VERB
ftr-493	96	62	from	from	ADP
ftr-493	96	63	b	b	PROPN
ftr-493	96	64	that	that	DET
ftr-493	96	65	year	year	NOUN
ftr-493	96	66	under	under	ADP
ftr-493	96	67	the	the	DET
ftr-493	96	68	swap	swap	NOUN
ftr-493	96	69	.	.	PUNCT
ftr-493	97	1	14	14	NUM
ftr-493	97	2	.	.	PUNCT
ftr-493	97	3	compare	compare	ADJ
ftr-493	97	4	regs	reg	NOUN
ftr-493	97	5	.	.	PUNCT
ftr-493	98	1	§	§	PROPN
ftr-493	98	2	1.988	1.988	NUM
ftr-493	98	3	-	-	SYM
ftr-493	98	4	5(a	5(a	NUM
ftr-493	98	5	)	)	PUNCT
ftr-493	98	6	(	(	PUNCT
ftr-493	98	7	allowing	allow	VERB
ftr-493	98	8	a	a	DET
ftr-493	98	9	taxpayer	taxpayer	NOUN
ftr-493	98	10	to	to	PART
ftr-493	98	11	integrate	integrate	VERB
ftr-493	98	12	a	a	DET
ftr-493	98	13	nonfunctional	nonfunctional	ADJ
ftr-493	98	14	currency	currency	NOUN
ftr-493	98	15	debt	debt	NOUN
ftr-493	98	16	instrument	instrument	NOUN
ftr-493	98	17	or	or	CCONJ
ftr-493	98	18	obligation	obligation	NOUN
ftr-493	98	19	and	and	CCONJ
ftr-493	98	20	certain	certain	ADJ
ftr-493	98	21	types	type	NOUN
ftr-493	98	22	of	of	ADP
ftr-493	98	23	hedges	hedge	NOUN
ftr-493	98	24	to	to	PART
ftr-493	98	25	create	create	VERB
ftr-493	98	26	a	a	DET
ftr-493	98	27	synthetic	synthetic	ADJ
ftr-493	98	28	asset	asset	NOUN
ftr-493	98	29	or	or	CCONJ
ftr-493	98	30	liability	liability	NOUN
ftr-493	98	31	,	,	PUNCT
ftr-493	98	32	which	which	PRON
ftr-493	98	33	is	be	AUX
ftr-493	98	34	then	then	ADV
ftr-493	98	35	taxed	tax	VERB
ftr-493	98	36	as	as	SCONJ
ftr-493	98	37	if	if	SCONJ
ftr-493	98	38	it	it	PRON
ftr-493	98	39	were	be	AUX
ftr-493	98	40	a	a	DET
ftr-493	98	41	real	real	ADJ
ftr-493	98	42	asset	asset	NOUN
ftr-493	98	43	or	or	CCONJ
ftr-493	98	44	liability	liability	NOUN
ftr-493	98	45	)	)	PUNCT
ftr-493	98	46	with	with	ADP
ftr-493	98	47	preamble	preamble	NOUN
ftr-493	98	48	to	to	PART
ftr-493	98	49	prop	prop	VERB
ftr-493	98	50	.	.	PUNCT
ftr-493	98	51	regs	regs	PROPN
ftr-493	98	52	.	.	PUNCT
ftr-493	99	1	§	§	PROPN
ftr-493	99	2	1.446	1.446	NUM
ftr-493	99	3	-	-	SYM
ftr-493	99	4	3	3	NUM
ftr-493	99	5	,	,	PUNCT
ftr-493	99	6	56	56	NUM
ftr-493	99	7	fed	feed	VERB
ftr-493	99	8	.	.	PUNCT
ftr-493	100	1	reg	reg	PROPN
ftr-493	100	2	.	.	PUNCT
ftr-493	101	1	31,350	31,350	NUM
ftr-493	101	2	(	(	PUNCT
ftr-493	101	3	1991	1991	NUM
ftr-493	101	4	)	)	PUNCT
ftr-493	101	5	(	(	PUNCT
ftr-493	101	6	stating	state	VERB
ftr-493	101	7	that	that	SCONJ
ftr-493	101	8	the	the	DET
ftr-493	101	9	internal	internal	ADJ
ftr-493	101	10	revenue	revenue	NOUN
ftr-493	101	11	service	service	NOUN
ftr-493	101	12	"	"	PUNCT
ftr-493	101	13	is	be	AUX
ftr-493	101	14	considering	consider	VERB
ftr-493	101	15	whether	whether	SCONJ
ftr-493	101	16	to	to	PART
ftr-493	101	17	permit	permit	VERB
ftr-493	101	18	taxpayers	taxpayer	NOUN
ftr-493	101	19	to	to	PART
ftr-493	101	20	account	account	VERB
ftr-493	101	21	for	for	ADP
ftr-493	101	22	a	a	DET
ftr-493	101	23	notional	notional	ADJ
ftr-493	101	24	principal	principal	ADJ
ftr-493	101	25	contract	contract	NOUN
ftr-493	101	26	and	and	CCONJ
ftr-493	101	27	the	the	DET
ftr-493	101	28	asset	asset	NOUN
ftr-493	101	29	or	or	CCONJ
ftr-493	101	30	liability	liability	NOUN
ftr-493	101	31	that	that	PRON
ftr-493	101	32	the	the	DET
ftr-493	101	33	notional	notional	ADJ
ftr-493	101	34	principal	principal	ADJ
ftr-493	101	35	contract	contract	NOUN
ftr-493	101	36	hedges	hedge	NOUN
ftr-493	101	37	on	on	ADP
ftr-493	101	38	an	an	DET
ftr-493	101	39	integrated	integrated	ADJ
ftr-493	101	40	basis	basis	NOUN
ftr-493	101	41	"	"	PUNCT
ftr-493	101	42	)	)	PUNCT
ftr-493	101	43	.	.	PUNCT
ftr-493	102	1	[	[	X
ftr-493	102	2	vol	vol	NOUN
ftr-493	102	3	1:5	1:5	NUM
ftr-493	102	4	selected	select	VERB
ftr-493	102	5	issues	issue	NOUN
ftr-493	102	6	in	in	ADP
ftr-493	102	7	the	the	DET
ftr-493	102	8	taxation	taxation	NOUN
ftr-493	102	9	of	of	ADP
ftr-493	102	10	swaps	swap	NOUN
ftr-493	102	11	swap	swap	NOUN
ftr-493	102	12	payments	payment	NOUN
ftr-493	102	13	in	in	ADP
ftr-493	102	14	,	,	PUNCT
ftr-493	102	15	or	or	CCONJ
ftr-493	102	16	from	from	ADP
ftr-493	102	17	,	,	PUNCT
ftr-493	102	18	taxable	taxable	ADJ
ftr-493	102	19	income	income	NOUN
ftr-493	102	20	.	.	PUNCT
ftr-493	102	21	'	'	PUNCT
ftr-493	103	1	the	the	DET
ftr-493	103	2	combination	combination	NOUN
ftr-493	103	3	each	each	DET
ftr-493	103	4	year	year	NOUN
ftr-493	103	5	of	of	ADP
ftr-493	103	6	the	the	DET
ftr-493	103	7	bond	bond	NOUN
ftr-493	103	8	interest	interest	NOUN
ftr-493	103	9	income	income	NOUN
ftr-493	103	10	plus	plus	CCONJ
ftr-493	103	11	(	(	PUNCT
ftr-493	103	12	or	or	CCONJ
ftr-493	103	13	minus	minus	NUM
ftr-493	103	14	)	)	PUNCT
ftr-493	103	15	the	the	DET
ftr-493	103	16	net	net	ADJ
ftr-493	103	17	swap	swap	NOUN
ftr-493	103	18	income	income	NOUN
ftr-493	103	19	(	(	PUNCT
ftr-493	103	20	or	or	CCONJ
ftr-493	103	21	deduction	deduction	NOUN
ftr-493	103	22	)	)	PUNCT
ftr-493	103	23	will	will	AUX
ftr-493	103	24	equal	equal	VERB
ftr-493	103	25	the	the	DET
ftr-493	103	26	amount	amount	NOUN
ftr-493	103	27	of	of	ADP
ftr-493	103	28	the	the	DET
ftr-493	103	29	libor	libor	PROPN
ftr-493	103	30	-	-	PUNCT
ftr-493	103	31	based	base	VERB
ftr-493	103	32	payments	payment	NOUN
ftr-493	103	33	to	to	PART
ftr-493	103	34	be	be	AUX
ftr-493	103	35	made	make	VERB
ftr-493	103	36	by	by	ADP
ftr-493	103	37	b	b	NOUN
ftr-493	103	38	for	for	ADP
ftr-493	103	39	such	such	ADJ
ftr-493	103	40	year	year	NOUN
ftr-493	103	41	.	.	PUNCT
ftr-493	104	1	'6	'6	PUNCT
ftr-493	105	1	thus	thus	ADV
ftr-493	105	2	,	,	PUNCT
ftr-493	105	3	a	a	DET
ftr-493	105	4	's	's	PART
ftr-493	105	5	economic	economic	ADJ
ftr-493	105	6	income	income	NOUN
ftr-493	105	7	and	and	CCONJ
ftr-493	105	8	taxable	taxable	ADJ
ftr-493	105	9	income	income	NOUN
ftr-493	105	10	will	will	AUX
ftr-493	105	11	be	be	AUX
ftr-493	105	12	the	the	DET
ftr-493	105	13	same	same	ADJ
ftr-493	105	14	each	each	DET
ftr-493	105	15	year	year	NOUN
ftr-493	105	16	,	,	PUNCT
ftr-493	105	17	and	and	CCONJ
ftr-493	105	18	will	will	AUX
ftr-493	105	19	be	be	AUX
ftr-493	105	20	the	the	DET
ftr-493	105	21	same	same	ADJ
ftr-493	105	22	as	as	SCONJ
ftr-493	105	23	would	would	AUX
ftr-493	105	24	have	have	AUX
ftr-493	105	25	been	be	AUX
ftr-493	105	26	the	the	DET
ftr-493	105	27	case	case	NOUN
ftr-493	105	28	if	if	SCONJ
ftr-493	105	29	a	a	PRON
ftr-493	105	30	had	have	AUX
ftr-493	105	31	purchased	purchase	VERB
ftr-493	105	32	a	a	DET
ftr-493	105	33	libor	libor	PROPN
ftr-493	105	34	-	-	PUNCT
ftr-493	105	35	based	base	VERB
ftr-493	105	36	bond	bond	NOUN
ftr-493	105	37	having	have	VERB
ftr-493	105	38	the	the	DET
ftr-493	105	39	same	same	ADJ
ftr-493	105	40	payment	payment	NOUN
ftr-493	105	41	terms	term	NOUN
ftr-493	105	42	as	as	ADP
ftr-493	105	43	the	the	DET
ftr-493	105	44	synthetic	synthetic	ADJ
ftr-493	105	45	bond	bond	NOUN
ftr-493	105	46	created	create	VERB
ftr-493	105	47	through	through	ADP
ftr-493	105	48	the	the	DET
ftr-493	105	49	combination	combination	NOUN
ftr-493	105	50	of	of	ADP
ftr-493	105	51	the	the	DET
ftr-493	105	52	bond	bond	NOUN
ftr-493	105	53	and	and	CCONJ
ftr-493	105	54	the	the	DET
ftr-493	105	55	interest	interest	NOUN
ftr-493	105	56	rate	rate	NOUN
ftr-493	105	57	swap	swap	NOUN
ftr-493	105	58	.	.	PUNCT
ftr-493	106	1	now	now	ADV
ftr-493	106	2	assume	assume	VERB
ftr-493	106	3	that	that	SCONJ
ftr-493	106	4	,	,	PUNCT
ftr-493	106	5	rather	rather	ADV
ftr-493	106	6	than	than	ADP
ftr-493	106	7	purchasing	purchase	VERB
ftr-493	106	8	a	a	DET
ftr-493	106	9	u.s	u.s	PROPN
ftr-493	106	10	.	.	PROPN
ftr-493	106	11	treasury	treasury	PROPN
ftr-493	106	12	bond	bond	PROPN
ftr-493	106	13	,	,	PUNCT
ftr-493	106	14	a	a	DET
ftr-493	106	15	purchases	purchase	NOUN
ftr-493	106	16	a	a	DET
ftr-493	106	17	municipal	municipal	ADJ
ftr-493	106	18	bond	bond	NOUN
ftr-493	106	19	,	,	PUNCT
ftr-493	106	20	the	the	DET
ftr-493	106	21	interest	interest	NOUN
ftr-493	106	22	on	on	ADP
ftr-493	106	23	which	which	PRON
ftr-493	106	24	is	be	AUX
ftr-493	106	25	excludable	excludable	ADJ
ftr-493	106	26	from	from	ADP
ftr-493	106	27	a	a	PRON
ftr-493	106	28	's	's	PART
ftr-493	106	29	income	income	NOUN
ftr-493	106	30	pursuant	pursuant	NOUN
ftr-493	106	31	to	to	ADP
ftr-493	106	32	section	section	NOUN
ftr-493	106	33	103	103	NUM
ftr-493	106	34	.	.	PUNCT
ftr-493	106	35	'	'	PUNCT
ftr-493	106	36	7	7	NUM
ftr-493	106	37	in	in	ADP
ftr-493	106	38	that	that	DET
ftr-493	106	39	case	case	NOUN
ftr-493	106	40	,	,	PUNCT
ftr-493	106	41	a	a	DET
ftr-493	106	42	's	's	PART
ftr-493	106	43	economic	economic	ADJ
ftr-493	106	44	income	income	NOUN
ftr-493	106	45	each	each	DET
ftr-493	106	46	year	year	NOUN
ftr-493	106	47	will	will	AUX
ftr-493	106	48	still	still	ADV
ftr-493	106	49	equal	equal	VERB
ftr-493	106	50	the	the	DET
ftr-493	106	51	libor	libor	PROPN
ftr-493	106	52	-	-	PUNCT
ftr-493	106	53	based	base	VERB
ftr-493	106	54	payments	payment	NOUN
ftr-493	106	55	received	receive	VERB
ftr-493	106	56	from	from	ADP
ftr-493	106	57	b	b	PROPN
ftr-493	106	58	that	that	DET
ftr-493	106	59	year	year	NOUN
ftr-493	106	60	.	.	PUNCT
ftr-493	107	1	but	but	CCONJ
ftr-493	107	2	now	now	ADV
ftr-493	107	3	,	,	PUNCT
ftr-493	107	4	the	the	DET
ftr-493	107	5	combination	combination	NOUN
ftr-493	107	6	of	of	ADP
ftr-493	107	7	the	the	DET
ftr-493	107	8	tax	tax	NOUN
ftr-493	107	9	-	-	PUNCT
ftr-493	107	10	free	free	ADJ
ftr-493	107	11	interest	interest	NOUN
ftr-493	107	12	income	income	NOUN
ftr-493	107	13	on	on	ADP
ftr-493	107	14	the	the	DET
ftr-493	107	15	bond	bond	NOUN
ftr-493	107	16	and	and	CCONJ
ftr-493	107	17	the	the	DET
ftr-493	107	18	net	net	ADJ
ftr-493	107	19	income	income	NOUN
ftr-493	107	20	/	/	SYM
ftr-493	107	21	deduction	deduction	NOUN
ftr-493	107	22	from	from	ADP
ftr-493	107	23	the	the	DET
ftr-493	107	24	swap	swap	NOUN
ftr-493	107	25	results	result	NOUN
ftr-493	107	26	in	in	ADP
ftr-493	107	27	a	a	DET
ftr-493	107	28	's	's	PART
ftr-493	107	29	taxable	taxable	ADJ
ftr-493	107	30	income	income	NOUN
ftr-493	107	31	being	be	AUX
ftr-493	107	32	$	$	SYM
ftr-493	107	33	100	100	NUM
ftr-493	107	34	less	less	ADJ
ftr-493	107	35	than	than	ADP
ftr-493	107	36	its	its	PRON
ftr-493	107	37	economic	economic	ADJ
ftr-493	107	38	income	income	NOUN
ftr-493	107	39	each	each	DET
ftr-493	107	40	year	year	NOUN
ftr-493	107	41	.	.	PUNCT
ftr-493	108	1	for	for	ADP
ftr-493	108	2	example	example	NOUN
ftr-493	108	3	,	,	PUNCT
ftr-493	108	4	if	if	SCONJ
ftr-493	108	5	the	the	DET
ftr-493	108	6	libor	libor	PROPN
ftr-493	108	7	-	-	PUNCT
ftr-493	108	8	based	base	VERB
ftr-493	108	9	payments	payment	NOUN
ftr-493	108	10	in	in	ADP
ftr-493	108	11	a	a	DET
ftr-493	108	12	given	give	VERB
ftr-493	108	13	year	year	NOUN
ftr-493	108	14	equal	equal	ADJ
ftr-493	108	15	$	$	SYM
ftr-493	108	16	110	110	NUM
ftr-493	108	17	,	,	PUNCT
ftr-493	108	18	the	the	DET
ftr-493	108	19	net	net	ADJ
ftr-493	108	20	swap	swap	NOUN
ftr-493	108	21	income	income	NOUN
ftr-493	108	22	for	for	ADP
ftr-493	108	23	the	the	DET
ftr-493	108	24	year	year	NOUN
ftr-493	108	25	will	will	AUX
ftr-493	108	26	still	still	ADV
ftr-493	108	27	equal	equal	VERB
ftr-493	108	28	$	$	SYM
ftr-493	108	29	10	10	NUM
ftr-493	108	30	.	.	PUNCT
ftr-493	109	1	the	the	DET
ftr-493	109	2	combination	combination	NOUN
ftr-493	109	3	of	of	ADP
ftr-493	109	4	this	this	DET
ftr-493	109	5	net	net	ADJ
ftr-493	109	6	swap	swap	NOUN
ftr-493	109	7	income	income	NOUN
ftr-493	109	8	with	with	ADP
ftr-493	109	9	the	the	DET
ftr-493	109	10	$	$	SYM
ftr-493	109	11	100	100	NUM
ftr-493	109	12	of	of	ADP
ftr-493	109	13	tax	tax	NOUN
ftr-493	109	14	-	-	PUNCT
ftr-493	109	15	free	free	ADJ
ftr-493	109	16	interest	interest	NOUN
ftr-493	109	17	received	receive	VERB
ftr-493	109	18	on	on	ADP
ftr-493	109	19	the	the	DET
ftr-493	109	20	bond	bond	NOUN
ftr-493	109	21	results	result	NOUN
ftr-493	109	22	in	in	ADP
ftr-493	109	23	taxable	taxable	ADJ
ftr-493	109	24	income	income	NOUN
ftr-493	109	25	to	to	ADP
ftr-493	109	26	a	a	PRON
ftr-493	109	27	of	of	ADP
ftr-493	109	28	only	only	ADV
ftr-493	109	29	$	$	SYM
ftr-493	109	30	10	10	NUM
ftr-493	109	31	,	,	PUNCT
ftr-493	109	32	which	which	PRON
ftr-493	109	33	is	be	AUX
ftr-493	109	34	$	$	SYM
ftr-493	109	35	100	100	NUM
ftr-493	109	36	less	less	ADJ
ftr-493	109	37	than	than	ADP
ftr-493	109	38	a	a	PRON
ftr-493	109	39	's	's	PART
ftr-493	109	40	economic	economic	ADJ
ftr-493	109	41	income	income	NOUN
ftr-493	109	42	for	for	ADP
ftr-493	109	43	that	that	DET
ftr-493	109	44	year	year	NOUN
ftr-493	109	45	.	.	PUNCT
ftr-493	110	1	similarly	similarly	ADV
ftr-493	110	2	,	,	PUNCT
ftr-493	110	3	if	if	SCONJ
ftr-493	110	4	the	the	DET
ftr-493	110	5	libor	libor	PROPN
ftr-493	110	6	-	-	PUNCT
ftr-493	110	7	based	base	VERB
ftr-493	110	8	payments	payment	NOUN
ftr-493	110	9	equal	equal	VERB
ftr-493	110	10	$	$	SYM
ftr-493	110	11	90	90	NUM
ftr-493	110	12	,	,	PUNCT
ftr-493	110	13	the	the	DET
ftr-493	110	14	net	net	ADJ
ftr-493	110	15	swap	swap	NOUN
ftr-493	110	16	deduction	deduction	NOUN
ftr-493	110	17	for	for	ADP
ftr-493	110	18	the	the	DET
ftr-493	110	19	year	year	NOUN
ftr-493	110	20	will	will	AUX
ftr-493	110	21	equal	equal	VERB
ftr-493	110	22	$	$	SYM
ftr-493	110	23	10	10	NUM
ftr-493	110	24	;	;	PUNCT
ftr-493	110	25	this	this	PRON
ftr-493	110	26	,	,	PUNCT
ftr-493	110	27	plus	plus	CCONJ
ftr-493	110	28	the	the	DET
ftr-493	110	29	$	$	SYM
ftr-493	110	30	100	100	NUM
ftr-493	110	31	of	of	ADP
ftr-493	110	32	tax	tax	NOUN
ftr-493	110	33	-	-	PUNCT
ftr-493	110	34	free	free	ADJ
ftr-493	110	35	interest	interest	NOUN
ftr-493	110	36	received	receive	VERB
ftr-493	110	37	on	on	ADP
ftr-493	110	38	the	the	DET
ftr-493	110	39	bond	bond	NOUN
ftr-493	110	40	,	,	PUNCT
ftr-493	110	41	results	result	VERB
ftr-493	110	42	in	in	ADP
ftr-493	110	43	a	a	DET
ftr-493	110	44	's	's	PART
ftr-493	110	45	recognizing	recognize	VERB
ftr-493	110	46	a	a	DET
ftr-493	110	47	net	net	ADJ
ftr-493	110	48	taxable	taxable	ADJ
ftr-493	110	49	loss	loss	NOUN
ftr-493	110	50	of	of	ADP
ftr-493	110	51	$	$	SYM
ftr-493	110	52	10	10	NUM
ftr-493	110	53	for	for	ADP
ftr-493	110	54	the	the	DET
ftr-493	110	55	year	year	NOUN
ftr-493	110	56	,	,	PUNCT
ftr-493	110	57	which	which	PRON
ftr-493	110	58	is	be	AUX
ftr-493	110	59	$	$	SYM
ftr-493	110	60	100	100	NUM
ftr-493	110	61	less	less	ADJ
ftr-493	110	62	than	than	ADP
ftr-493	110	63	a	a	PRON
ftr-493	110	64	's	's	PART
ftr-493	110	65	economic	economic	ADJ
ftr-493	110	66	income	income	NOUN
ftr-493	110	67	.	.	PUNCT
ftr-493	110	68	'	'	PUNCT
ftr-493	110	69	8	8	NUM
ftr-493	110	70	thus	thus	ADV
ftr-493	110	71	,	,	PUNCT
ftr-493	110	72	even	even	ADV
ftr-493	110	73	though	though	SCONJ
ftr-493	110	74	the	the	DET
ftr-493	110	75	pre	pre	ADJ
ftr-493	110	76	-	-	ADJ
ftr-493	110	77	tax	tax	ADJ
ftr-493	110	78	pay15	pay15	PROPN
ftr-493	110	79	.	.	PUNCT
ftr-493	111	1	prop	prop	NOUN
ftr-493	111	2	.	.	PUNCT
ftr-493	111	3	regs	regs	PROPN
ftr-493	111	4	.	.	PUNCT
ftr-493	112	1	§	§	PROPN
ftr-493	112	2	1.446	1.446	NUM
ftr-493	112	3	-	-	SYM
ftr-493	112	4	3(e)(1	3(e)(1	NUM
ftr-493	112	5	)	)	PUNCT
ftr-493	112	6	,	,	PUNCT
ftr-493	112	7	56	56	NUM
ftr-493	112	8	fed	feed	VERB
ftr-493	112	9	.	.	PUNCT
ftr-493	113	1	reg	reg	PROPN
ftr-493	113	2	.	.	PUNCT
ftr-493	114	1	31,350	31,350	NUM
ftr-493	114	2	(	(	PUNCT
ftr-493	114	3	1991	1991	NUM
ftr-493	114	4	)	)	PUNCT
ftr-493	114	5	.	.	PUNCT
ftr-493	115	1	the	the	DET
ftr-493	115	2	swap	swap	NOUN
ftr-493	115	3	will	will	AUX
ftr-493	115	4	give	give	VERB
ftr-493	115	5	rise	rise	NOUN
ftr-493	115	6	to	to	ADP
ftr-493	115	7	net	net	ADJ
ftr-493	115	8	income	income	NOUN
ftr-493	115	9	in	in	ADP
ftr-493	115	10	any	any	DET
ftr-493	115	11	year	year	NOUN
ftr-493	115	12	in	in	ADP
ftr-493	115	13	which	which	PRON
ftr-493	115	14	the	the	DET
ftr-493	115	15	libor	libor	PROPN
ftr-493	115	16	-	-	PUNCT
ftr-493	115	17	based	base	VERB
ftr-493	115	18	payments	payment	NOUN
ftr-493	115	19	received	receive	VERB
ftr-493	115	20	from	from	ADP
ftr-493	115	21	b	b	NUM
ftr-493	115	22	exceed	exceed	VERB
ftr-493	115	23	the	the	DET
ftr-493	115	24	fixed	fix	VERB
ftr-493	115	25	payments	payment	NOUN
ftr-493	115	26	made	make	VERB
ftr-493	115	27	by	by	ADP
ftr-493	115	28	a	a	PRON
ftr-493	115	29	;	;	PUNCT
ftr-493	115	30	conversely	conversely	ADV
ftr-493	115	31	,	,	PUNCT
ftr-493	115	32	the	the	DET
ftr-493	115	33	swap	swap	NOUN
ftr-493	115	34	will	will	AUX
ftr-493	115	35	give	give	VERB
ftr-493	115	36	rise	rise	NOUN
ftr-493	115	37	to	to	ADP
ftr-493	115	38	a	a	DET
ftr-493	115	39	net	net	ADJ
ftr-493	115	40	deduction	deduction	NOUN
ftr-493	115	41	in	in	ADP
ftr-493	115	42	any	any	DET
ftr-493	115	43	year	year	NOUN
ftr-493	115	44	in	in	ADP
ftr-493	115	45	which	which	PRON
ftr-493	115	46	the	the	DET
ftr-493	115	47	libor	libor	PROPN
ftr-493	115	48	-	-	PUNCT
ftr-493	115	49	based	base	VERB
ftr-493	115	50	payments	payment	NOUN
ftr-493	115	51	are	be	AUX
ftr-493	115	52	less	less	ADJ
ftr-493	115	53	than	than	ADP
ftr-493	115	54	the	the	DET
ftr-493	115	55	fixed	fix	VERB
ftr-493	115	56	payments	payment	NOUN
ftr-493	115	57	.	.	PUNCT
ftr-493	116	1	16	16	NUM
ftr-493	116	2	.	.	PUNCT
ftr-493	117	1	for	for	ADP
ftr-493	117	2	example	example	NOUN
ftr-493	117	3	,	,	PUNCT
ftr-493	117	4	if	if	SCONJ
ftr-493	117	5	the	the	DET
ftr-493	117	6	libor	libor	PROPN
ftr-493	117	7	-	-	PUNCT
ftr-493	117	8	based	base	VERB
ftr-493	117	9	payments	payment	NOUN
ftr-493	117	10	made	make	VERB
ftr-493	117	11	by	by	ADP
ftr-493	117	12	b	b	NOUN
ftr-493	117	13	equal	equal	ADJ
ftr-493	117	14	si	si	PROPN
ftr-493	117	15	10	10	NUM
ftr-493	117	16	.	.	PUNCT
ftr-493	118	1	a	a	PRON
ftr-493	118	2	's	's	PART
ftr-493	118	3	net	net	ADJ
ftr-493	118	4	taxable	taxable	ADJ
ftr-493	118	5	income	income	NOUN
ftr-493	118	6	from	from	ADP
ftr-493	118	7	the	the	DET
ftr-493	118	8	swap	swap	NOUN
ftr-493	118	9	will	will	AUX
ftr-493	118	10	equal	equal	VERB
ftr-493	118	11	$	$	SYM
ftr-493	118	12	i0	i0	PROPN
ftr-493	118	13	(	(	PUNCT
ftr-493	118	14	i.e	i.e	PROPN
ftr-493	118	15	..	..	PUNCT
ftr-493	118	16	si10	si10	PROPN
ftr-493	118	17	received	receive	VERB
ftr-493	118	18	from	from	ADP
ftr-493	118	19	b	b	PROPN
ftr-493	118	20	minus	minus	ADP
ftr-493	118	21	si00	si00	PROPN
ftr-493	118	22	of	of	ADP
ftr-493	118	23	fixed	fix	VERB
ftr-493	118	24	payments	payment	NOUN
ftr-493	118	25	made	make	VERB
ftr-493	118	26	by	by	ADP
ftr-493	118	27	a	a	PRON
ftr-493	118	28	under	under	ADP
ftr-493	118	29	the	the	DET
ftr-493	118	30	swap	swap	NOUN
ftr-493	118	31	)	)	PUNCT
ftr-493	118	32	.	.	PUNCT
ftr-493	119	1	coupled	couple	VERB
ftr-493	119	2	with	with	ADP
ftr-493	119	3	the	the	DET
ftr-493	119	4	s100	s100	PROPN
ftr-493	119	5	of	of	ADP
ftr-493	119	6	bond	bond	NOUN
ftr-493	119	7	interest	interest	NOUN
ftr-493	119	8	received	receive	VERB
ftr-493	119	9	by	by	ADP
ftr-493	119	10	a	a	DET
ftr-493	119	11	results	result	NOUN
ftr-493	119	12	in	in	ADP
ftr-493	119	13	a	a	DET
ftr-493	119	14	's	's	PART
ftr-493	119	15	net	net	ADJ
ftr-493	119	16	taxable	taxable	ADJ
ftr-493	119	17	income	income	NOUN
ftr-493	119	18	being	be	AUX
ftr-493	119	19	$	$	SYM
ftr-493	119	20	110	110	NUM
ftr-493	119	21	,	,	PUNCT
ftr-493	119	22	the	the	DET
ftr-493	119	23	amount	amount	NOUN
ftr-493	119	24	of	of	ADP
ftr-493	119	25	the	the	DET
ftr-493	119	26	libor	libor	PROPN
ftr-493	119	27	-	-	PUNCT
ftr-493	119	28	based	base	VERB
ftr-493	119	29	payments	payment	NOUN
ftr-493	119	30	under	under	ADP
ftr-493	119	31	the	the	DET
ftr-493	119	32	swap	swap	NOUN
ftr-493	119	33	.	.	PUNCT
ftr-493	120	1	if	if	SCONJ
ftr-493	120	2	,	,	PUNCT
ftr-493	120	3	alternatively	alternatively	ADV
ftr-493	120	4	,	,	PUNCT
ftr-493	120	5	the	the	DET
ftr-493	120	6	libor	libor	PROPN
ftr-493	120	7	-	-	PUNCT
ftr-493	120	8	based	base	VERB
ftr-493	120	9	payments	payment	NOUN
ftr-493	120	10	equalled	equal	VERB
ftr-493	120	11	only	only	ADV
ftr-493	120	12	s90	s90	PROPN
ftr-493	120	13	.	.	PUNCT
ftr-493	121	1	a	a	PRON
ftr-493	121	2	would	would	AUX
ftr-493	121	3	have	have	VERB
ftr-493	121	4	a	a	DET
ftr-493	121	5	net	net	ADJ
ftr-493	121	6	deduction	deduction	NOUN
ftr-493	121	7	of	of	ADP
ftr-493	121	8	$	$	SYM
ftr-493	121	9	10	10	NUM
ftr-493	121	10	with	with	ADP
ftr-493	121	11	respect	respect	NOUN
ftr-493	121	12	to	to	ADP
ftr-493	121	13	the	the	DET
ftr-493	121	14	swap	swap	NOUN
ftr-493	121	15	(	(	PUNCT
ftr-493	121	16	i.e.	i.e.	X
ftr-493	121	17	,	,	PUNCT
ftr-493	121	18	$	$	SYM
ftr-493	121	19	90	90	NUM
ftr-493	121	20	received	receive	VERB
ftr-493	121	21	minus	minus	CCONJ
ftr-493	121	22	$	$	SYM
ftr-493	121	23	100	100	NUM
ftr-493	121	24	paid	pay	VERB
ftr-493	121	25	)	)	PUNCT
ftr-493	121	26	,	,	PUNCT
ftr-493	121	27	which	which	PRON
ftr-493	121	28	,	,	PUNCT
ftr-493	121	29	coupled	couple	VERB
ftr-493	121	30	with	with	ADP
ftr-493	121	31	the	the	DET
ftr-493	121	32	$	$	SYM
ftr-493	121	33	100	100	NUM
ftr-493	121	34	of	of	ADP
ftr-493	121	35	bond	bond	NOUN
ftr-493	121	36	interest	interest	NOUN
ftr-493	121	37	income	income	NOUN
ftr-493	121	38	,	,	PUNCT
ftr-493	121	39	results	result	NOUN
ftr-493	121	40	in	in	ADP
ftr-493	121	41	net	net	ADJ
ftr-493	121	42	taxable	taxable	ADJ
ftr-493	121	43	income	income	NOUN
ftr-493	121	44	of	of	ADP
ftr-493	121	45	s90	s90	NOUN
ftr-493	121	46	,	,	PUNCT
ftr-493	121	47	again	again	ADV
ftr-493	121	48	,	,	PUNCT
ftr-493	121	49	the	the	DET
ftr-493	121	50	amount	amount	NOUN
ftr-493	121	51	of	of	ADP
ftr-493	121	52	the	the	DET
ftr-493	121	53	libor	libor	PROPN
ftr-493	121	54	-	-	PUNCT
ftr-493	121	55	based	base	VERB
ftr-493	121	56	payments	payment	NOUN
ftr-493	121	57	.	.	PUNCT
ftr-493	122	1	17	17	NUM
ftr-493	122	2	.	.	PUNCT
ftr-493	122	3	also	also	ADV
ftr-493	122	4	assume	assume	VERB
ftr-493	122	5	that	that	SCONJ
ftr-493	122	6	a	a	PRON
ftr-493	122	7	is	be	AUX
ftr-493	122	8	a	a	DET
ftr-493	122	9	corporation	corporation	NOUN
ftr-493	122	10	so	so	SCONJ
ftr-493	122	11	that	that	SCONJ
ftr-493	122	12	net	net	ADJ
ftr-493	122	13	swap	swap	NOUN
ftr-493	122	14	payments	payment	NOUN
ftr-493	122	15	are	be	AUX
ftr-493	122	16	deductible	deductible	ADJ
ftr-493	122	17	under	under	ADP
ftr-493	122	18	section	section	NOUN
ftr-493	122	19	162	162	NUM
ftr-493	122	20	,	,	PUNCT
ftr-493	122	21	not	not	PART
ftr-493	122	22	section	section	NOUN
ftr-493	122	23	212	212	NUM
ftr-493	122	24	,	,	PUNCT
ftr-493	122	25	and	and	CCONJ
ftr-493	122	26	section	section	NOUN
ftr-493	122	27	265(a)(1	265(a)(1	PROPN
ftr-493	122	28	)	)	PUNCT
ftr-493	122	29	will	will	AUX
ftr-493	122	30	therefore	therefore	ADV
ftr-493	122	31	not	not	PART
ftr-493	122	32	apply	apply	VERB
ftr-493	122	33	.	.	PUNCT
ftr-493	123	1	18	18	NUM
ftr-493	123	2	.	.	PUNCT
ftr-493	124	1	as	as	SCONJ
ftr-493	124	2	discussed	discuss	VERB
ftr-493	124	3	in	in	ADP
ftr-493	124	4	note	note	NOUN
ftr-493	124	5	13	13	NUM
ftr-493	124	6	supra	supra	NOUN
ftr-493	124	7	,	,	PUNCT
ftr-493	124	8	as	as	ADP
ftr-493	124	9	an	an	DET
ftr-493	124	10	economic	economic	ADJ
ftr-493	124	11	matter	matter	NOUN
ftr-493	124	12	,	,	PUNCT
ftr-493	124	13	a	a	PRON
ftr-493	124	14	's	's	PART
ftr-493	124	15	obligation	obligation	NOUN
ftr-493	124	16	under	under	ADP
ftr-493	124	17	the	the	DET
ftr-493	124	18	swap	swap	NOUN
ftr-493	124	19	to	to	PART
ftr-493	124	20	make	make	VERB
ftr-493	124	21	a	a	DET
ftr-493	124	22	$	$	SYM
ftr-493	124	23	100	100	NUM
ftr-493	124	24	fixed	fix	VERB
ftr-493	124	25	payment	payment	NOUN
ftr-493	124	26	to	to	ADP
ftr-493	124	27	b	b	NOUN
ftr-493	124	28	each	each	DET
ftr-493	124	29	year	year	NOUN
ftr-493	124	30	is	be	AUX
ftr-493	124	31	exactly	exactly	ADV
ftr-493	124	32	offset	offset	VERB
ftr-493	124	33	by	by	ADP
ftr-493	124	34	a	a	DET
ftr-493	124	35	's	's	PART
ftr-493	124	36	right	right	NOUN
ftr-493	124	37	to	to	PART
ftr-493	124	38	receive	receive	VERB
ftr-493	124	39	$	$	SYM
ftr-493	124	40	100	100	NUM
ftr-493	124	41	of	of	ADP
ftr-493	124	42	coupon	coupon	NOUN
ftr-493	124	43	interest	interest	NOUN
ftr-493	124	44	on	on	ADP
ftr-493	124	45	the	the	DET
ftr-493	124	46	tax	tax	NOUN
ftr-493	124	47	-	-	PUNCT
ftr-493	124	48	exempt	exempt	ADJ
ftr-493	124	49	bond	bond	NOUN
ftr-493	124	50	,	,	PUNCT
ftr-493	124	51	resulting	result	VERB
ftr-493	124	52	in	in	ADP
ftr-493	124	53	a	a	PRON
ftr-493	124	54	's	's	PART
ftr-493	124	55	economic	economic	ADJ
ftr-493	124	56	income	income	NOUN
ftr-493	124	57	being	be	AUX
ftr-493	124	58	equal	equal	ADJ
ftr-493	124	59	to	to	ADP
ftr-493	124	60	the	the	DET
ftr-493	124	61	amount	amount	NOUN
ftr-493	124	62	of	of	ADP
ftr-493	124	63	the	the	DET
ftr-493	124	64	libor	libor	PROPN
ftr-493	124	65	-	-	PUNCT
ftr-493	124	66	based	base	VERB
ftr-493	124	67	payments	payment	NOUN
ftr-493	124	68	received	receive	VERB
ftr-493	124	69	from	from	ADP
ftr-493	124	70	b.	b.	PROPN
ftr-493	124	71	for	for	ADP
ftr-493	124	72	tax	tax	NOUN
ftr-493	124	73	purposes	purpose	NOUN
ftr-493	124	74	,	,	PUNCT
ftr-493	124	75	however	however	ADV
ftr-493	124	76	,	,	PUNCT
ftr-493	124	77	the	the	DET
ftr-493	124	78	$	$	SYM
ftr-493	124	79	100	100	NUM
ftr-493	124	80	fixed	fix	VERB
ftr-493	124	81	payment	payment	NOUN
ftr-493	124	82	under	under	ADP
ftr-493	124	83	the	the	DET
ftr-493	124	84	swap	swap	NOUN
ftr-493	124	85	is	be	AUX
ftr-493	124	86	deductible	deductible	ADJ
ftr-493	124	87	against	against	ADP
ftr-493	124	88	the	the	DET
ftr-493	124	89	libor	libor	PROPN
ftr-493	124	90	-	-	PUNCT
ftr-493	124	91	based	base	VERB
ftr-493	124	92	payments	payment	NOUN
ftr-493	124	93	received	receive	VERB
ftr-493	124	94	from	from	ADP
ftr-493	124	95	b	b	PROPN
ftr-493	124	96	(	(	PUNCT
ftr-493	124	97	or	or	CCONJ
ftr-493	124	98	,	,	PUNCT
ftr-493	124	99	if	if	SCONJ
ftr-493	124	100	b	b	NOUN
ftr-493	124	101	's	's	PART
ftr-493	124	102	payments	payment	NOUN
ftr-493	124	103	are	be	AUX
ftr-493	124	104	less	less	ADJ
ftr-493	124	105	than	than	ADP
ftr-493	124	106	a	a	PRON
ftr-493	124	107	's	's	PART
ftr-493	124	108	payment	payment	NOUN
ftr-493	124	109	,	,	PUNCT
ftr-493	124	110	from	from	ADP
ftr-493	124	111	other	other	ADJ
ftr-493	124	112	income	income	NOUN
ftr-493	124	113	)	)	PUNCT
ftr-493	124	114	,	,	PUNCT
ftr-493	124	115	which	which	PRON
ftr-493	124	116	,	,	PUNCT
ftr-493	124	117	coupled	couple	VERB
ftr-493	124	118	with	with	ADP
ftr-493	124	119	the	the	DET
ftr-493	124	120	$	$	SYM
ftr-493	124	121	100	100	NUM
ftr-493	124	122	of	of	ADP
ftr-493	124	123	excludable	excludable	ADJ
ftr-493	124	124	interest	interest	NOUN
ftr-493	124	125	on	on	ADP
ftr-493	124	126	the	the	DET
ftr-493	124	127	bond	bond	NOUN
ftr-493	124	128	,	,	PUNCT
ftr-493	124	129	results	result	VERB
ftr-493	124	130	in	in	ADP
ftr-493	124	131	a	a	DET
ftr-493	124	132	's	's	PART
ftr-493	124	133	taxable	taxable	ADJ
ftr-493	124	134	income	income	NOUN
ftr-493	124	135	always	always	ADV
ftr-493	124	136	being	be	AUX
ftr-493	124	137	1993	1993	NUM
ftr-493	124	138	]	]	PUNCT
ftr-493	125	1	florida	florida	PROPN
ftr-493	125	2	tax	tax	PROPN
ftr-493	125	3	review	review	NOUN
ftr-493	125	4	ment	ment	NOUN
ftr-493	125	5	stream	stream	NOUN
ftr-493	125	6	of	of	ADP
ftr-493	125	7	the	the	DET
ftr-493	125	8	synthetic	synthetic	ADJ
ftr-493	125	9	asset	asset	NOUN
ftr-493	125	10	in	in	ADP
ftr-493	125	11	this	this	DET
ftr-493	125	12	second	second	ADJ
ftr-493	125	13	example	example	NOUN
ftr-493	125	14	is	be	AUX
ftr-493	125	15	the	the	DET
ftr-493	125	16	same	same	ADJ
ftr-493	125	17	as	as	ADP
ftr-493	125	18	that	that	PRON
ftr-493	125	19	in	in	ADP
ftr-493	125	20	the	the	DET
ftr-493	125	21	first	first	ADJ
ftr-493	125	22	,	,	PUNCT
ftr-493	125	23	the	the	DET
ftr-493	125	24	tax	tax	NOUN
ftr-493	125	25	treatment	treatment	NOUN
ftr-493	125	26	of	of	ADP
ftr-493	125	27	the	the	DET
ftr-493	125	28	two	two	NUM
ftr-493	125	29	synthetic	synthetic	ADJ
ftr-493	125	30	assets	asset	NOUN
ftr-493	125	31	is	be	AUX
ftr-493	125	32	very	very	ADV
ftr-493	125	33	different	different	ADJ
ftr-493	125	34	.	.	PUNCT
ftr-493	126	1	in	in	ADP
ftr-493	126	2	essence	essence	NOUN
ftr-493	126	3	,	,	PUNCT
ftr-493	126	4	by	by	ADP
ftr-493	126	5	using	use	VERB
ftr-493	126	6	a	a	DET
ftr-493	126	7	tax	tax	NOUN
ftr-493	126	8	-	-	PUNCT
ftr-493	126	9	exempt	exempt	ADJ
ftr-493	126	10	bond	bond	NOUN
ftr-493	126	11	as	as	ADP
ftr-493	126	12	one	one	NUM
ftr-493	126	13	leg	leg	NOUN
ftr-493	126	14	of	of	ADP
ftr-493	126	15	the	the	DET
ftr-493	126	16	transaction	transaction	NOUN
ftr-493	126	17	,	,	PUNCT
ftr-493	126	18	a	a	PRON
ftr-493	126	19	has	have	AUX
ftr-493	126	20	been	be	AUX
ftr-493	126	21	able	able	ADJ
ftr-493	126	22	to	to	PART
ftr-493	126	23	create	create	VERB
ftr-493	126	24	a	a	DET
ftr-493	126	25	synthetic	synthetic	ADJ
ftr-493	126	26	libor	libor	NOUN
ftr-493	126	27	-	-	PUNCT
ftr-493	126	28	based	base	VERB
ftr-493	126	29	bond	bond	NOUN
ftr-493	126	30	the	the	DET
ftr-493	126	31	income	income	NOUN
ftr-493	126	32	from	from	ADP
ftr-493	126	33	which	which	PRON
ftr-493	126	34	is	be	AUX
ftr-493	126	35	taxexempt	taxexempt	ADJ
ftr-493	126	36	to	to	ADP
ftr-493	126	37	the	the	DET
ftr-493	126	38	extent	extent	NOUN
ftr-493	126	39	of	of	ADP
ftr-493	126	40	the	the	DET
ftr-493	126	41	10	10	NUM
ftr-493	126	42	%	%	NOUN
ftr-493	126	43	interest	interest	NOUN
ftr-493	126	44	earned	earn	VERB
ftr-493	126	45	on	on	ADP
ftr-493	126	46	the	the	DET
ftr-493	126	47	tax	tax	NOUN
ftr-493	126	48	exempt	exempt	ADJ
ftr-493	126	49	bond	bond	NOUN
ftr-493	126	50	.	.	PUNCT
ftr-493	126	51	'	'	PUNCT
ftr-493	127	1	9	9	NUM
ftr-493	127	2	the	the	DET
ftr-493	127	3	same	same	ADJ
ftr-493	127	4	strategy	strategy	NOUN
ftr-493	127	5	could	could	AUX
ftr-493	127	6	be	be	AUX
ftr-493	127	7	employed	employ	VERB
ftr-493	127	8	using	use	VERB
ftr-493	127	9	other	other	ADJ
ftr-493	127	10	tax	tax	NOUN
ftr-493	127	11	-	-	PUNCT
ftr-493	127	12	advantaged	advantaged	ADJ
ftr-493	127	13	assets	asset	NOUN
ftr-493	127	14	as	as	ADP
ftr-493	127	15	one	one	NUM
ftr-493	127	16	part	part	NOUN
ftr-493	127	17	of	of	ADP
ftr-493	127	18	the	the	DET
ftr-493	127	19	bond	bond	NOUN
ftr-493	127	20	/	/	SYM
ftr-493	127	21	swap	swap	NOUN
ftr-493	127	22	strategy	strategy	NOUN
ftr-493	127	23	.	.	PUNCT
ftr-493	128	1	for	for	ADP
ftr-493	128	2	example	example	NOUN
ftr-493	128	3	,	,	PUNCT
ftr-493	128	4	under	under	ADP
ftr-493	128	5	the	the	DET
ftr-493	128	6	market	market	NOUN
ftr-493	128	7	discount	discount	NOUN
ftr-493	128	8	rules	rule	NOUN
ftr-493	128	9	of	of	ADP
ftr-493	128	10	sections	section	NOUN
ftr-493	128	11	1276	1276	NUM
ftr-493	128	12	-	-	SYM
ftr-493	128	13	1278	1278	NUM
ftr-493	128	14	,	,	PUNCT
ftr-493	128	15	an	an	DET
ftr-493	128	16	investor	investor	NOUN
ftr-493	128	17	is	be	AUX
ftr-493	128	18	not	not	PART
ftr-493	128	19	required	require	VERB
ftr-493	128	20	to	to	PART
ftr-493	128	21	include	include	VERB
ftr-493	128	22	market	market	NOUN
ftr-493	128	23	discount	discount	NOUN
ftr-493	128	24	on	on	ADP
ftr-493	128	25	a	a	DET
ftr-493	128	26	bond2	bond2	NOUN
ftr-493	128	27	in	in	ADP
ftr-493	128	28	income	income	NOUN
ftr-493	128	29	until	until	SCONJ
ftr-493	128	30	the	the	DET
ftr-493	128	31	bond	bond	NOUN
ftr-493	128	32	is	be	AUX
ftr-493	128	33	retired	retire	VERB
ftr-493	128	34	or	or	CCONJ
ftr-493	128	35	otherwise	otherwise	ADV
ftr-493	128	36	disposed	dispose	VERB
ftr-493	128	37	of	of	ADP
ftr-493	128	38	,	,	PUNCT
ftr-493	128	39	or	or	CCONJ
ftr-493	128	40	until	until	SCONJ
ftr-493	128	41	the	the	DET
ftr-493	128	42	investor	investor	NOUN
ftr-493	128	43	receives	receive	VERB
ftr-493	128	44	principal	principal	ADJ
ftr-493	128	45	payments	payment	NOUN
ftr-493	128	46	on	on	ADP
ftr-493	128	47	the	the	DET
ftr-493	128	48	bond.2	bond.2	NOUN
ftr-493	128	49	the	the	DET
ftr-493	128	50	universe	universe	NOUN
ftr-493	128	51	of	of	ADP
ftr-493	128	52	outstanding	outstanding	ADJ
ftr-493	128	53	market	market	NOUN
ftr-493	128	54	discount	discount	NOUN
ftr-493	128	55	bonds	bond	NOUN
ftr-493	128	56	at	at	ADP
ftr-493	128	57	any	any	DET
ftr-493	128	58	given	give	VERB
ftr-493	128	59	time	time	NOUN
ftr-493	128	60	is	be	AUX
ftr-493	128	61	limited	limit	VERB
ftr-493	128	62	and	and	CCONJ
ftr-493	128	63	an	an	DET
ftr-493	128	64	investor	investor	NOUN
ftr-493	128	65	,	,	PUNCT
ftr-493	128	66	although	although	SCONJ
ftr-493	128	67	aware	aware	ADJ
ftr-493	128	68	of	of	ADP
ftr-493	128	69	the	the	DET
ftr-493	128	70	tax	tax	NOUN
ftr-493	128	71	advantages	advantage	NOUN
ftr-493	128	72	of	of	ADP
ftr-493	128	73	owning	own	VERB
ftr-493	128	74	such	such	DET
ftr-493	128	75	a	a	DET
ftr-493	128	76	bond,22	bond,22	NOUN
ftr-493	128	77	may	may	AUX
ftr-493	128	78	be	be	AUX
ftr-493	128	79	unable	unable	ADJ
ftr-493	128	80	to	to	PART
ftr-493	128	81	find	find	VERB
ftr-493	128	82	a	a	DET
ftr-493	128	83	bond	bond	NOUN
ftr-493	128	84	that	that	PRON
ftr-493	128	85	matches	match	VERB
ftr-493	128	86	its	its	PRON
ftr-493	128	87	investment	investment	NOUN
ftr-493	128	88	profile	profile	NOUN
ftr-493	128	89	.	.	PUNCT
ftr-493	129	1	by	by	ADP
ftr-493	129	2	buying	buy	VERB
ftr-493	129	3	a	a	DET
ftr-493	129	4	market	market	NOUN
ftr-493	129	5	discount	discount	NOUN
ftr-493	129	6	bond	bond	NOUN
ftr-493	129	7	and	and	CCONJ
ftr-493	129	8	simultaneously	simultaneously	ADV
ftr-493	129	9	entering	enter	VERB
ftr-493	129	10	into	into	ADP
ftr-493	129	11	a	a	DET
ftr-493	129	12	swap	swap	NOUN
ftr-493	129	13	,	,	PUNCT
ftr-493	129	14	however	however	ADV
ftr-493	129	15	,	,	PUNCT
ftr-493	129	16	an	an	DET
ftr-493	129	17	investor	investor	NOUN
ftr-493	129	18	can	can	AUX
ftr-493	129	19	create	create	VERB
ftr-493	129	20	a	a	DET
ftr-493	129	21	synthetic	synthetic	ADJ
ftr-493	129	22	market	market	NOUN
ftr-493	129	23	discount	discount	NOUN
ftr-493	129	24	bond	bond	NOUN
ftr-493	129	25	,	,	PUNCT
ftr-493	129	26	one	one	NUM
ftr-493	129	27	that	that	PRON
ftr-493	129	28	retains	retain	VERB
ftr-493	129	29	the	the	DET
ftr-493	129	30	tax	tax	NOUN
ftr-493	129	31	advantages	advantage	NOUN
ftr-493	129	32	of	of	ADP
ftr-493	129	33	the	the	DET
ftr-493	129	34	original	original	ADJ
ftr-493	129	35	but	but	CCONJ
ftr-493	129	36	has	have	VERB
ftr-493	129	37	non	non	ADJ
ftr-493	129	38	-	-	ADJ
ftr-493	129	39	tax	tax	ADJ
ftr-493	129	40	characteristics	characteristic	NOUN
ftr-493	129	41	more	more	ADJ
ftr-493	129	42	to	to	ADP
ftr-493	129	43	the	the	DET
ftr-493	129	44	investor	investor	NOUN
ftr-493	129	45	's	's	PART
ftr-493	129	46	liking	liking	NOUN
ftr-493	129	47	.	.	PUNCT
ftr-493	130	1	for	for	ADP
ftr-493	130	2	example	example	NOUN
ftr-493	130	3	,	,	PUNCT
ftr-493	130	4	assume	assume	VERB
ftr-493	130	5	that	that	SCONJ
ftr-493	130	6	on	on	ADP
ftr-493	130	7	january	january	PROPN
ftr-493	130	8	1	1	NUM
ftr-493	130	9	of	of	ADP
ftr-493	130	10	year	year	NOUN
ftr-493	130	11	1	1	NUM
ftr-493	130	12	a	a	DET
ftr-493	130	13	purchases	purchase	NOUN
ftr-493	130	14	on	on	ADP
ftr-493	130	15	the	the	DET
ftr-493	130	16	open	open	ADJ
ftr-493	130	17	market	market	NOUN
ftr-493	130	18	a	a	DET
ftr-493	130	19	u.s	u.s	PROPN
ftr-493	130	20	.	.	PROPN
ftr-493	130	21	treasury	treasury	PROPN
ftr-493	130	22	obligation	obligation	NOUN
ftr-493	130	23	having	have	VERB
ftr-493	130	24	a	a	DET
ftr-493	130	25	remaining	remain	VERB
ftr-493	130	26	term	term	NOUN
ftr-493	130	27	to	to	ADP
ftr-493	130	28	maturity	maturity	NOUN
ftr-493	130	29	of	of	ADP
ftr-493	130	30	two	two	NUM
ftr-493	130	31	years	year	NOUN
ftr-493	130	32	,	,	PUNCT
ftr-493	130	33	and	and	CCONJ
ftr-493	130	34	that	that	SCONJ
ftr-493	130	35	the	the	DET
ftr-493	130	36	treasury	treasury	NOUN
ftr-493	130	37	obligation	obligation	NOUN
ftr-493	130	38	bears	bear	VERB
ftr-493	130	39	coupon	coupon	NOUN
ftr-493	130	40	interest	interest	NOUN
ftr-493	130	41	of	of	ADP
ftr-493	130	42	5	5	NUM
ftr-493	130	43	%	%	NOUN
ftr-493	130	44	at	at	ADP
ftr-493	130	45	a	a	DET
ftr-493	130	46	time	time	NOUN
ftr-493	130	47	when	when	SCONJ
ftr-493	130	48	prevailing	prevail	VERB
ftr-493	130	49	treasury	treasury	NOUN
ftr-493	130	50	interest	interest	NOUN
ftr-493	130	51	rates	rate	NOUN
ftr-493	130	52	are	be	AUX
ftr-493	130	53	10	10	NUM
ftr-493	130	54	%	%	NOUN
ftr-493	130	55	.	.	PUNCT
ftr-493	131	1	thus	thus	ADV
ftr-493	131	2	,	,	PUNCT
ftr-493	131	3	in	in	ADP
ftr-493	131	4	general	general	ADJ
ftr-493	131	5	,	,	PUNCT
ftr-493	131	6	the	the	DET
ftr-493	131	7	treasury	treasury	NOUN
ftr-493	131	8	bond	bond	NOUN
ftr-493	131	9	will	will	AUX
ftr-493	131	10	sell	sell	VERB
ftr-493	131	11	at	at	ADP
ftr-493	131	12	a	a	DET
ftr-493	131	13	market	market	NOUN
ftr-493	131	14	discount	discount	NOUN
ftr-493	131	15	designed	design	VERB
ftr-493	131	16	to	to	PART
ftr-493	131	17	give	give	VERB
ftr-493	131	18	the	the	DET
ftr-493	131	19	holder	holder	NOUN
ftr-493	131	20	a	a	DET
ftr-493	131	21	10	10	NUM
ftr-493	131	22	%	%	NOUN
ftr-493	131	23	pre	pre	ADJ
ftr-493	131	24	-	-	ADJ
ftr-493	131	25	tax	tax	ADJ
ftr-493	131	26	yield	yield	NOUN
ftr-493	131	27	to	to	ADP
ftr-493	131	28	maturity.23	maturity.23	PROPN
ftr-493	131	29	assuming	assume	VERB
ftr-493	131	30	a	a	DET
ftr-493	131	31	remaining	remain	VERB
ftr-493	131	32	term	term	NOUN
ftr-493	131	33	to	to	ADP
ftr-493	131	34	maturity	maturity	NOUN
ftr-493	131	35	of	of	ADP
ftr-493	131	36	$	$	SYM
ftr-493	131	37	100	100	NUM
ftr-493	131	38	less	less	ADJ
ftr-493	131	39	than	than	ADP
ftr-493	131	40	its	its	PRON
ftr-493	131	41	economic	economic	ADJ
ftr-493	131	42	income	income	NOUN
ftr-493	131	43	.	.	PUNCT
ftr-493	132	1	as	as	ADP
ftr-493	132	2	discussed	discuss	VERB
ftr-493	132	3	infra	infra	NOUN
ftr-493	132	4	,	,	PUNCT
ftr-493	132	5	since	since	SCONJ
ftr-493	132	6	payments	payment	NOUN
ftr-493	132	7	under	under	ADP
ftr-493	132	8	the	the	DET
ftr-493	132	9	swap	swap	NOUN
ftr-493	132	10	would	would	AUX
ftr-493	132	11	not	not	PART
ftr-493	132	12	constitute	constitute	VERB
ftr-493	132	13	interest	interest	NOUN
ftr-493	132	14	for	for	ADP
ftr-493	132	15	tax	tax	NOUN
ftr-493	132	16	purposes	purpose	NOUN
ftr-493	132	17	,	,	PUNCT
ftr-493	132	18	section	section	NOUN
ftr-493	132	19	265(a)(2	265(a)(2	NOUN
ftr-493	132	20	)	)	PUNCT
ftr-493	132	21	would	would	AUX
ftr-493	132	22	not	not	PART
ftr-493	132	23	apply	apply	VERB
ftr-493	132	24	to	to	PART
ftr-493	132	25	disallow	disallow	VERB
ftr-493	132	26	a	a	DET
ftr-493	132	27	deduction	deduction	NOUN
ftr-493	132	28	for	for	ADP
ftr-493	132	29	such	such	ADJ
ftr-493	132	30	payments	payment	NOUN
ftr-493	132	31	.	.	PUNCT
ftr-493	133	1	19	19	NUM
ftr-493	133	2	.	.	X
ftr-493	133	3	note	note	VERB
ftr-493	133	4	that	that	SCONJ
ftr-493	133	5	under	under	ADP
ftr-493	133	6	the	the	DET
ftr-493	133	7	integration	integration	NOUN
ftr-493	133	8	approach	approach	NOUN
ftr-493	133	9	of	of	ADP
ftr-493	133	10	regulations	regulation	NOUN
ftr-493	133	11	section	section	VERB
ftr-493	133	12	1.988	1.988	NUM
ftr-493	133	13	-	-	SYM
ftr-493	133	14	5(a	5(a	NUM
ftr-493	133	15	)	)	PUNCT
ftr-493	133	16	,	,	PUNCT
ftr-493	133	17	a	a	DET
ftr-493	133	18	synthetic	synthetic	ADJ
ftr-493	133	19	asset	asset	NOUN
ftr-493	133	20	is	be	AUX
ftr-493	133	21	taxed	tax	VERB
ftr-493	133	22	as	as	SCONJ
ftr-493	133	23	if	if	SCONJ
ftr-493	133	24	it	it	PRON
ftr-493	133	25	were	be	AUX
ftr-493	133	26	a	a	DET
ftr-493	133	27	real	real	ADJ
ftr-493	133	28	asset	asset	NOUN
ftr-493	133	29	,	,	PUNCT
ftr-493	133	30	without	without	ADP
ftr-493	133	31	regard	regard	NOUN
ftr-493	133	32	to	to	ADP
ftr-493	133	33	the	the	DET
ftr-493	133	34	tax	tax	NOUN
ftr-493	133	35	treatment	treatment	NOUN
ftr-493	133	36	of	of	ADP
ftr-493	133	37	its	its	PRON
ftr-493	133	38	constituent	constituent	NOUN
ftr-493	133	39	parts	part	NOUN
ftr-493	133	40	.	.	PUNCT
ftr-493	134	1	if	if	SCONJ
ftr-493	134	2	this	this	DET
ftr-493	134	3	approach	approach	NOUN
ftr-493	134	4	were	be	AUX
ftr-493	134	5	applied	apply	VERB
ftr-493	134	6	to	to	ADP
ftr-493	134	7	the	the	DET
ftr-493	134	8	examples	example	NOUN
ftr-493	134	9	in	in	ADP
ftr-493	134	10	the	the	DET
ftr-493	134	11	text	text	NOUN
ftr-493	134	12	,	,	PUNCT
ftr-493	134	13	the	the	DET
ftr-493	134	14	taxable	taxable	ADJ
ftr-493	134	15	bond	bond	NOUN
ftr-493	134	16	/	/	SYM
ftr-493	134	17	swap	swap	NOUN
ftr-493	134	18	and	and	CCONJ
ftr-493	134	19	tax	tax	NOUN
ftr-493	134	20	-	-	PUNCT
ftr-493	134	21	exempt	exempt	ADJ
ftr-493	134	22	bond	bond	NOUN
ftr-493	134	23	/	/	SYM
ftr-493	134	24	swap	swap	NOUN
ftr-493	134	25	transactions	transaction	NOUN
ftr-493	134	26	would	would	AUX
ftr-493	134	27	be	be	AUX
ftr-493	134	28	taxed	tax	VERB
ftr-493	134	29	identically	identically	ADV
ftr-493	134	30	(	(	PUNCT
ftr-493	134	31	i.e.	i.e.	X
ftr-493	134	32	,	,	PUNCT
ftr-493	134	33	a	a	PRON
ftr-493	134	34	would	would	AUX
ftr-493	134	35	not	not	PART
ftr-493	134	36	benefit	benefit	VERB
ftr-493	134	37	from	from	ADP
ftr-493	134	38	the	the	DET
ftr-493	134	39	tax	tax	NOUN
ftr-493	134	40	exemption	exemption	NOUN
ftr-493	134	41	with	with	ADP
ftr-493	134	42	respect	respect	NOUN
ftr-493	134	43	to	to	ADP
ftr-493	134	44	the	the	DET
ftr-493	134	45	bond	bond	NOUN
ftr-493	134	46	interest	interest	NOUN
ftr-493	134	47	and	and	CCONJ
ftr-493	134	48	would	would	AUX
ftr-493	134	49	be	be	AUX
ftr-493	134	50	taxed	tax	VERB
ftr-493	134	51	on	on	ADP
ftr-493	134	52	the	the	DET
ftr-493	134	53	full	full	ADJ
ftr-493	134	54	amount	amount	NOUN
ftr-493	134	55	of	of	ADP
ftr-493	134	56	the	the	DET
ftr-493	134	57	payments	payment	NOUN
ftr-493	134	58	received	receive	VERB
ftr-493	134	59	from	from	ADP
ftr-493	134	60	b	b	PROPN
ftr-493	134	61	each	each	DET
ftr-493	134	62	year	year	NOUN
ftr-493	134	63	)	)	PUNCT
ftr-493	134	64	.	.	PUNCT
ftr-493	135	1	20	20	NUM
ftr-493	135	2	.	.	X
ftr-493	135	3	subject	subject	NOUN
ftr-493	135	4	to	to	ADP
ftr-493	135	5	a	a	DET
ftr-493	135	6	de	de	X
ftr-493	135	7	minimis	minimis	NOUN
ftr-493	135	8	rule	rule	NOUN
ftr-493	135	9	,	,	PUNCT
ftr-493	135	10	section	section	NOUN
ftr-493	135	11	1278(a)(2	1278(a)(2	NOUN
ftr-493	135	12	)	)	PUNCT
ftr-493	135	13	defines	define	VERB
ftr-493	135	14	market	market	NOUN
ftr-493	135	15	discount	discount	NOUN
ftr-493	135	16	as	as	ADP
ftr-493	135	17	the	the	DET
ftr-493	135	18	excess	excess	NOUN
ftr-493	135	19	,	,	PUNCT
ftr-493	135	20	if	if	SCONJ
ftr-493	135	21	any	any	PRON
ftr-493	135	22	,	,	PUNCT
ftr-493	135	23	of	of	ADP
ftr-493	135	24	a	a	DET
ftr-493	135	25	bond	bond	NOUN
ftr-493	135	26	's	's	PART
ftr-493	135	27	stated	state	VERB
ftr-493	135	28	redemption	redemption	NOUN
ftr-493	135	29	price	price	NOUN
ftr-493	135	30	at	at	ADP
ftr-493	135	31	maturity	maturity	NOUN
ftr-493	135	32	over	over	ADP
ftr-493	135	33	a	a	DET
ftr-493	135	34	taxpayer	taxpayer	NOUN
ftr-493	135	35	's	's	PART
ftr-493	135	36	tax	tax	NOUN
ftr-493	135	37	basis	basis	NOUN
ftr-493	135	38	in	in	ADP
ftr-493	135	39	the	the	DET
ftr-493	135	40	bond	bond	NOUN
ftr-493	135	41	immediately	immediately	ADV
ftr-493	135	42	after	after	ADP
ftr-493	135	43	its	its	PRON
ftr-493	135	44	acquisition	acquisition	NOUN
ftr-493	135	45	.	.	PUNCT
ftr-493	136	1	21	21	NUM
ftr-493	136	2	.	.	PUNCT
ftr-493	136	3	irc	irc	PROPN
ftr-493	136	4	§	§	PROPN
ftr-493	136	5	1276(a	1276(a	NUM
ftr-493	136	6	)	)	PUNCT
ftr-493	136	7	.	.	PUNCT
ftr-493	137	1	this	this	PRON
ftr-493	137	2	assumes	assume	VERB
ftr-493	137	3	,	,	PUNCT
ftr-493	137	4	of	of	ADP
ftr-493	137	5	course	course	NOUN
ftr-493	137	6	,	,	PUNCT
ftr-493	137	7	that	that	SCONJ
ftr-493	137	8	the	the	DET
ftr-493	137	9	investor	investor	NOUN
ftr-493	137	10	does	do	AUX
ftr-493	137	11	not	not	PART
ftr-493	137	12	elect	elect	VERB
ftr-493	137	13	under	under	ADP
ftr-493	137	14	section	section	NOUN
ftr-493	137	15	1278(b	1278(b	NOUN
ftr-493	137	16	)	)	PUNCT
ftr-493	137	17	to	to	PART
ftr-493	137	18	include	include	VERB
ftr-493	137	19	market	market	NOUN
ftr-493	137	20	discount	discount	NOUN
ftr-493	137	21	in	in	ADP
ftr-493	137	22	income	income	NOUN
ftr-493	137	23	on	on	ADP
ftr-493	137	24	a	a	DET
ftr-493	137	25	current	current	ADJ
ftr-493	137	26	basis	basis	NOUN
ftr-493	137	27	.	.	PUNCT
ftr-493	138	1	22	22	NUM
ftr-493	138	2	.	.	PUNCT
ftr-493	139	1	this	this	PRON
ftr-493	139	2	ignores	ignore	VERB
ftr-493	139	3	the	the	DET
ftr-493	139	4	fact	fact	NOUN
ftr-493	139	5	that	that	SCONJ
ftr-493	139	6	the	the	DET
ftr-493	139	7	bond	bond	NOUN
ftr-493	139	8	may	may	AUX
ftr-493	139	9	bear	bear	VERB
ftr-493	139	10	"	"	PUNCT
ftr-493	139	11	implicit	implicit	ADJ
ftr-493	139	12	taxes	taxis	NOUN
ftr-493	139	13	,	,	PUNCT
ftr-493	139	14	"	"	PUNCT
ftr-493	139	15	that	that	PRON
ftr-493	139	16	is	be	AUX
ftr-493	139	17	,	,	PUNCT
ftr-493	139	18	that	that	SCONJ
ftr-493	139	19	the	the	DET
ftr-493	139	20	bond	bond	NOUN
ftr-493	139	21	may	may	AUX
ftr-493	139	22	be	be	AUX
ftr-493	139	23	priced	price	VERB
ftr-493	139	24	at	at	ADP
ftr-493	139	25	a	a	DET
ftr-493	139	26	lower	low	ADJ
ftr-493	139	27	pre	pre	ADJ
ftr-493	139	28	-	-	ADJ
ftr-493	139	29	tax	tax	ADJ
ftr-493	139	30	yield	yield	NOUN
ftr-493	139	31	than	than	ADP
ftr-493	139	32	comparable	comparable	ADJ
ftr-493	139	33	,	,	PUNCT
ftr-493	139	34	newly	newly	ADV
ftr-493	139	35	-	-	PUNCT
ftr-493	139	36	issued	issue	VERB
ftr-493	139	37	bonds	bond	NOUN
ftr-493	139	38	to	to	PART
ftr-493	139	39	account	account	VERB
ftr-493	139	40	for	for	ADP
ftr-493	139	41	the	the	DET
ftr-493	139	42	benefit	benefit	NOUN
ftr-493	139	43	of	of	ADP
ftr-493	139	44	being	be	AUX
ftr-493	139	45	able	able	ADJ
ftr-493	139	46	to	to	PART
ftr-493	139	47	defer	defer	VERB
ftr-493	139	48	the	the	DET
ftr-493	139	49	inclusion	inclusion	NOUN
ftr-493	139	50	of	of	ADP
ftr-493	139	51	market	market	NOUN
ftr-493	139	52	discount	discount	NOUN
ftr-493	139	53	in	in	ADP
ftr-493	139	54	taxable	taxable	ADJ
ftr-493	139	55	income	income	NOUN
ftr-493	139	56	.	.	PUNCT
ftr-493	140	1	see	see	VERB
ftr-493	140	2	generally	generally	ADV
ftr-493	140	3	scholes	schole	NOUN
ftr-493	140	4	&	&	CCONJ
ftr-493	140	5	wolfson	wolfson	PROPN
ftr-493	140	6	,	,	PUNCT
ftr-493	140	7	supra	supra	PROPN
ftr-493	140	8	note	note	NOUN
ftr-493	140	9	9	9	NUM
ftr-493	140	10	.	.	NOUN
ftr-493	140	11	23	23	NUM
ftr-493	140	12	.	.	PUNCT
ftr-493	141	1	again	again	ADV
ftr-493	141	2	,	,	PUNCT
ftr-493	141	3	this	this	PRON
ftr-493	141	4	ignores	ignore	VERB
ftr-493	141	5	the	the	DET
ftr-493	141	6	fact	fact	NOUN
ftr-493	141	7	that	that	SCONJ
ftr-493	141	8	the	the	DET
ftr-493	141	9	ability	ability	NOUN
ftr-493	141	10	to	to	PART
ftr-493	141	11	defer	defer	VERB
ftr-493	141	12	market	market	NOUN
ftr-493	141	13	discount	discount	NOUN
ftr-493	141	14	income	income	NOUN
ftr-493	141	15	may	may	AUX
ftr-493	141	16	be	be	AUX
ftr-493	141	17	capitalized	capitalize	VERB
ftr-493	141	18	into	into	ADP
ftr-493	141	19	the	the	DET
ftr-493	141	20	price	price	NOUN
ftr-493	141	21	of	of	ADP
ftr-493	141	22	the	the	DET
ftr-493	141	23	treasury	treasury	NOUN
ftr-493	141	24	obligation	obligation	NOUN
ftr-493	141	25	,	,	PUNCT
ftr-493	141	26	resulting	result	VERB
ftr-493	141	27	in	in	ADP
ftr-493	141	28	a	a	DET
ftr-493	141	29	less	less	ADV
ftr-493	141	30	-	-	PUNCT
ftr-493	141	31	than-10	than-10	NOUN
ftr-493	141	32	%	%	NOUN
ftr-493	141	33	pre	pre	ADJ
ftr-493	141	34	-	-	ADJ
ftr-493	141	35	tax	tax	ADJ
ftr-493	141	36	yield	yield	NOUN
ftr-493	141	37	to	to	ADP
ftr-493	141	38	maturity	maturity	NOUN
ftr-493	141	39	.	.	PUNCT
ftr-493	142	1	[	[	X
ftr-493	142	2	vol	vol	NOUN
ftr-493	142	3	.	.	PUNCT
ftr-493	142	4	1:5	1:5	NUM
ftr-493	142	5	selected	select	VERB
ftr-493	142	6	issues	issue	NOUN
ftr-493	142	7	in	in	ADP
ftr-493	142	8	the	the	DET
ftr-493	142	9	taxation	taxation	NOUN
ftr-493	142	10	of	of	ADP
ftr-493	142	11	swaps	swap	NOUN
ftr-493	142	12	two	two	NUM
ftr-493	142	13	years	year	NOUN
ftr-493	142	14	,	,	PUNCT
ftr-493	142	15	a	a	DET
ftr-493	142	16	$	$	SYM
ftr-493	142	17	1,000	1,000	NUM
ftr-493	142	18	principal	principal	NOUN
ftr-493	142	19	amount	amount	NOUN
ftr-493	142	20	bond	bond	NOUN
ftr-493	142	21	yielding	yield	VERB
ftr-493	142	22	coupon	coupon	NOUN
ftr-493	142	23	interest	interest	NOUN
ftr-493	142	24	of	of	ADP
ftr-493	142	25	5	5	NUM
ftr-493	142	26	%	%	NOUN
ftr-493	142	27	per	per	ADP
ftr-493	142	28	annum	annum	X
ftr-493	142	29	(	(	PUNCT
ftr-493	142	30	i.e.	i.e.	X
ftr-493	142	31	,	,	PUNCT
ftr-493	142	32	$	$	SYM
ftr-493	142	33	50.00	50.00	NUM
ftr-493	142	34	per	per	ADP
ftr-493	142	35	year	year	NOUN
ftr-493	142	36	)	)	PUNCT
ftr-493	142	37	would	would	AUX
ftr-493	142	38	sell	sell	VERB
ftr-493	142	39	for	for	ADP
ftr-493	142	40	approximately	approximately	ADV
ftr-493	142	41	$	$	SYM
ftr-493	142	42	913.22	913.22	NUM
ftr-493	142	43	,	,	PUNCT
ftr-493	142	44	resulting	result	VERB
ftr-493	142	45	in	in	ADP
ftr-493	142	46	market	market	NOUN
ftr-493	142	47	discount	discount	NOUN
ftr-493	142	48	of	of	ADP
ftr-493	142	49	$	$	SYM
ftr-493	142	50	86.78	86.78	NUM
ftr-493	142	51	.	.	PUNCT
ftr-493	143	1	at	at	ADP
ftr-493	143	2	the	the	DET
ftr-493	143	3	same	same	ADJ
ftr-493	143	4	time	time	NOUN
ftr-493	143	5	,	,	PUNCT
ftr-493	143	6	suppose	suppose	VERB
ftr-493	143	7	a	a	PRON
ftr-493	143	8	and	and	CCONJ
ftr-493	143	9	b	b	NOUN
ftr-493	143	10	enter	enter	VERB
ftr-493	143	11	into	into	ADP
ftr-493	143	12	a	a	DET
ftr-493	143	13	two	two	NUM
ftr-493	143	14	-	-	PUNCT
ftr-493	143	15	year	year	NOUN
ftr-493	143	16	,	,	PUNCT
ftr-493	143	17	$	$	SYM
ftr-493	143	18	913.22	913.22	NUM
ftr-493	143	19	notional	notional	ADJ
ftr-493	143	20	principal	principal	ADJ
ftr-493	143	21	amount	amount	NOUN
ftr-493	143	22	interest	interest	NOUN
ftr-493	143	23	rate	rate	NOUN
ftr-493	143	24	swap	swap	NOUN
ftr-493	143	25	pursuant	pursuant	ADJ
ftr-493	143	26	to	to	ADP
ftr-493	143	27	which	which	PRON
ftr-493	143	28	(	(	PUNCT
ftr-493	143	29	i	i	NOUN
ftr-493	143	30	)	)	PUNCT
ftr-493	143	31	a	a	PRON
ftr-493	143	32	is	be	AUX
ftr-493	143	33	obligated	obligate	VERB
ftr-493	143	34	to	to	PART
ftr-493	143	35	pay	pay	VERB
ftr-493	143	36	b	b	DET
ftr-493	143	37	$	$	SYM
ftr-493	143	38	50.00	50.00	NUM
ftr-493	143	39	on	on	ADP
ftr-493	143	40	december	december	PROPN
ftr-493	143	41	31st	31st	NOUN
ftr-493	143	42	of	of	ADP
ftr-493	143	43	year	year	NOUN
ftr-493	143	44	1	1	NUM
ftr-493	143	45	and	and	CCONJ
ftr-493	143	46	$	$	SYM
ftr-493	143	47	136.78	136.78	NUM
ftr-493	143	48	on	on	ADP
ftr-493	143	49	december	december	PROPN
ftr-493	143	50	31st	31st	NOUN
ftr-493	143	51	of	of	ADP
ftr-493	143	52	year	year	NOUN
ftr-493	143	53	2	2	NUM
ftr-493	143	54	,	,	PUNCT
ftr-493	143	55	and	and	CCONJ
ftr-493	143	56	(	(	PUNCT
ftr-493	143	57	ii	ii	NOUN
ftr-493	143	58	)	)	PUNCT
ftr-493	143	59	b	b	PROPN
ftr-493	143	60	is	be	AUX
ftr-493	143	61	obligated	obligate	VERB
ftr-493	143	62	to	to	PART
ftr-493	143	63	pay	pay	VERB
ftr-493	143	64	a	a	DET
ftr-493	143	65	an	an	DET
ftr-493	143	66	amount	amount	NOUN
ftr-493	143	67	on	on	ADP
ftr-493	143	68	march	march	PROPN
ftr-493	143	69	31st	31st	NOUN
ftr-493	143	70	,	,	PUNCT
ftr-493	143	71	june	june	PROPN
ftr-493	143	72	30th	30th	NUM
ftr-493	143	73	,	,	PUNCT
ftr-493	143	74	september	september	PROPN
ftr-493	143	75	30th	30th	NOUN
ftr-493	143	76	and	and	CCONJ
ftr-493	143	77	december	december	PROPN
ftr-493	143	78	31st	31st	NOUN
ftr-493	143	79	,	,	PUNCT
ftr-493	143	80	respectively	respectively	ADV
ftr-493	143	81	,	,	PUNCT
ftr-493	143	82	of	of	ADP
ftr-493	143	83	each	each	DET
ftr-493	143	84	year	year	NOUN
ftr-493	143	85	equal	equal	ADJ
ftr-493	143	86	to	to	ADP
ftr-493	143	87	the	the	DET
ftr-493	143	88	product	product	NOUN
ftr-493	143	89	of	of	ADP
ftr-493	143	90	$	$	SYM
ftr-493	143	91	913.22	913.22	NUM
ftr-493	143	92	and	and	CCONJ
ftr-493	143	93	the	the	DET
ftr-493	143	94	90day	90day	PROPN
ftr-493	143	95	libor	libor	PROPN
ftr-493	143	96	interest	interest	PROPN
ftr-493	143	97	rate	rate	NOUN
ftr-493	143	98	for	for	ADP
ftr-493	143	99	the	the	DET
ftr-493	143	100	period	period	NOUN
ftr-493	143	101	,	,	PUNCT
ftr-493	143	102	as	as	SCONJ
ftr-493	143	103	calculated	calculate	VERB
ftr-493	143	104	on	on	ADP
ftr-493	143	105	the	the	DET
ftr-493	143	106	first	first	ADJ
ftr-493	143	107	day	day	NOUN
ftr-493	143	108	of	of	ADP
ftr-493	143	109	the	the	DET
ftr-493	143	110	second	second	ADJ
ftr-493	143	111	preceding	precede	VERB
ftr-493	143	112	month	month	NOUN
ftr-493	143	113	.	.	PUNCT
ftr-493	144	1	4	4	NUM
ftr-493	145	1	the	the	DET
ftr-493	145	2	following	follow	VERB
ftr-493	145	3	table	table	NOUN
ftr-493	145	4	compares	compare	VERB
ftr-493	145	5	a	a	DET
ftr-493	145	6	's	's	PART
ftr-493	145	7	economic	economic	ADJ
ftr-493	145	8	and	and	CCONJ
ftr-493	145	9	taxable	taxable	ADJ
ftr-493	145	10	incomes	income	NOUN
ftr-493	145	11	each	each	DET
ftr-493	145	12	year	year	NOUN
ftr-493	145	13	from	from	ADP
ftr-493	145	14	entering	enter	VERB
ftr-493	145	15	into	into	ADP
ftr-493	145	16	the	the	DET
ftr-493	145	17	transaction	transaction	NOUN
ftr-493	145	18	:	:	PUNCT
ftr-493	145	19	a.	a.	NOUN
ftr-493	145	20	economic	economic	ADJ
ftr-493	145	21	income	income	NOUN
ftr-493	145	22	:	:	PUNCT
ftr-493	145	23	year	year	NOUN
ftr-493	145	24	1	1	NUM
ftr-493	145	25	(	(	PUNCT
ftr-493	145	26	1	1	NUM
ftr-493	145	27	)	)	PUNCT
ftr-493	145	28	coupon	coupon	NOUN
ftr-493	145	29	interest	interest	NOUN
ftr-493	145	30	:	:	PUNCT
ftr-493	145	31	s50.00	s50.00	NOUN
ftr-493	145	32	(	(	PUNCT
ftr-493	145	33	2	2	NUM
ftr-493	145	34	)	)	PUNCT
ftr-493	145	35	market	market	NOUN
ftr-493	145	36	discount	discount	NOUN
ftr-493	145	37	:	:	PUNCT
ftr-493	145	38	41.323	41.323	NUM
ftr-493	145	39	(	(	PUNCT
ftr-493	145	40	3	3	NUM
ftr-493	145	41	)	)	PUNCT
ftr-493	145	42	net	net	ADJ
ftr-493	145	43	swap	swap	NOUN
ftr-493	145	44	income	income	NOUN
ftr-493	145	45	:	:	PUNCT
ftr-493	145	46	aggregate	aggregate	ADJ
ftr-493	145	47	amount	amount	NOUN
ftr-493	145	48	of	of	ADP
ftr-493	145	49	b	b	NOUN
ftr-493	145	50	's	's	PART
ftr-493	145	51	payments	payment	NOUN
ftr-493	145	52	minus	minus	CCONJ
ftr-493	145	53	$	$	SYM
ftr-493	145	54	91.3226	91.3226	NUM
ftr-493	145	55	total	total	ADJ
ftr-493	145	56	aggregate	aggregate	NOUN
ftr-493	145	57	amount	amount	NOUN
ftr-493	145	58	of	of	ADP
ftr-493	145	59	b	b	NOUN
ftr-493	145	60	's	's	PART
ftr-493	145	61	payments	payment	NOUN
ftr-493	145	62	24	24	NUM
ftr-493	145	63	.	.	PUNCT
ftr-493	146	1	a	a	PRON
ftr-493	146	2	is	be	AUX
ftr-493	146	3	effectively	effectively	ADV
ftr-493	146	4	obligated	obligate	VERB
ftr-493	146	5	to	to	PART
ftr-493	146	6	pay	pay	VERB
ftr-493	146	7	b	b	NOUN
ftr-493	146	8	under	under	ADP
ftr-493	146	9	this	this	DET
ftr-493	146	10	"	"	PUNCT
ftr-493	146	11	deferred	deferred	ADJ
ftr-493	146	12	coupon	coupon	NOUN
ftr-493	146	13	"	"	PUNCT
ftr-493	146	14	swap	swap	NOUN
ftr-493	146	15	at	at	ADP
ftr-493	146	16	an	an	DET
ftr-493	146	17	overall	overall	ADJ
ftr-493	146	18	10	10	NUM
ftr-493	146	19	%	%	NOUN
ftr-493	146	20	(	(	PUNCT
ftr-493	146	21	compounded	compound	VERB
ftr-493	146	22	)	)	PUNCT
ftr-493	146	23	fixed	fix	VERB
ftr-493	146	24	rate	rate	NOUN
ftr-493	146	25	.	.	PUNCT
ftr-493	147	1	only	only	ADV
ftr-493	147	2	a	a	DET
ftr-493	147	3	portion	portion	NOUN
ftr-493	147	4	of	of	ADP
ftr-493	147	5	the	the	DET
ftr-493	147	6	first	first	ADJ
ftr-493	147	7	year	year	NOUN
ftr-493	147	8	's	's	PART
ftr-493	147	9	return	return	NOUN
ftr-493	147	10	,	,	PUNCT
ftr-493	147	11	equal	equal	ADJ
ftr-493	147	12	to	to	ADP
ftr-493	147	13	5.475	5.475	NUM
ftr-493	147	14	%	%	NOUN
ftr-493	147	15	of	of	ADP
ftr-493	147	16	the	the	DET
ftr-493	147	17	original	original	ADJ
ftr-493	147	18	notional	notional	ADJ
ftr-493	147	19	principal	principal	ADJ
ftr-493	147	20	amount	amount	NOUN
ftr-493	147	21	of	of	ADP
ftr-493	147	22	$	$	SYM
ftr-493	147	23	913.22	913.22	NUM
ftr-493	147	24	.	.	PUNCT
ftr-493	148	1	however	however	ADV
ftr-493	148	2	.	.	PUNCT
ftr-493	148	3	is	be	AUX
ftr-493	148	4	required	require	VERB
ftr-493	148	5	to	to	PART
ftr-493	148	6	be	be	AUX
ftr-493	148	7	paid	pay	VERB
ftr-493	148	8	in	in	ADP
ftr-493	148	9	the	the	DET
ftr-493	148	10	first	first	ADJ
ftr-493	148	11	year	year	NOUN
ftr-493	148	12	,	,	PUNCT
ftr-493	148	13	the	the	DET
ftr-493	148	14	rest	rest	NOUN
ftr-493	148	15	accrues	accrue	VERB
ftr-493	148	16	and	and	CCONJ
ftr-493	148	17	,	,	PUNCT
ftr-493	148	18	in	in	ADP
ftr-493	148	19	essence	essence	NOUN
ftr-493	148	20	,	,	PUNCT
ftr-493	148	21	increases	increase	VERB
ftr-493	148	22	the	the	DET
ftr-493	148	23	notional	notional	ADJ
ftr-493	148	24	principal	principal	ADJ
ftr-493	148	25	amount	amount	NOUN
ftr-493	148	26	to	to	PART
ftr-493	148	27	which	which	PRON
ftr-493	148	28	the	the	DET
ftr-493	148	29	10	10	NUM
ftr-493	148	30	%	%	NOUN
ftr-493	148	31	rate	rate	NOUN
ftr-493	148	32	is	be	AUX
ftr-493	148	33	applied	apply	VERB
ftr-493	148	34	in	in	ADP
ftr-493	148	35	the	the	DET
ftr-493	148	36	second	second	ADJ
ftr-493	148	37	year	year	NOUN
ftr-493	148	38	.	.	PUNCT
ftr-493	149	1	thus	thus	ADV
ftr-493	149	2	,	,	PUNCT
ftr-493	149	3	in	in	ADP
ftr-493	149	4	the	the	DET
ftr-493	149	5	first	first	ADJ
ftr-493	149	6	year	year	NOUN
ftr-493	149	7	,	,	PUNCT
ftr-493	149	8	a	a	PRON
ftr-493	149	9	's	's	PART
ftr-493	149	10	liability	liability	NOUN
ftr-493	149	11	to	to	ADP
ftr-493	149	12	b	b	NOUN
ftr-493	149	13	is	be	AUX
ftr-493	149	14	$	$	SYM
ftr-493	149	15	91.32	91.32	NUM
ftr-493	149	16	(	(	PUNCT
ftr-493	149	17	10	10	NUM
ftr-493	149	18	%	%	NOUN
ftr-493	149	19	of	of	ADP
ftr-493	149	20	$	$	SYM
ftr-493	149	21	913.22	913.22	NUM
ftr-493	149	22	)	)	PUNCT
ftr-493	149	23	,	,	PUNCT
ftr-493	149	24	$	$	SYM
ftr-493	149	25	50.00	50.00	NUM
ftr-493	149	26	(	(	PUNCT
ftr-493	149	27	5.475	5.475	NUM
ftr-493	149	28	%	%	NOUN
ftr-493	149	29	of	of	ADP
ftr-493	149	30	$	$	SYM
ftr-493	149	31	913.22	913.22	NUM
ftr-493	149	32	)	)	PUNCT
ftr-493	149	33	of	of	ADP
ftr-493	149	34	which	which	PRON
ftr-493	149	35	is	be	AUX
ftr-493	149	36	paid	pay	VERB
ftr-493	149	37	currently	currently	ADV
ftr-493	149	38	and	and	CCONJ
ftr-493	149	39	the	the	DET
ftr-493	149	40	rest	rest	NOUN
ftr-493	149	41	of	of	ADP
ftr-493	149	42	which	which	PRON
ftr-493	149	43	(	(	PUNCT
ftr-493	149	44	$	$	SYM
ftr-493	149	45	41.32	41.32	NUM
ftr-493	149	46	)	)	PUNCT
ftr-493	149	47	accrues	accrue	NOUN
ftr-493	149	48	,	,	PUNCT
ftr-493	149	49	effectively	effectively	ADV
ftr-493	149	50	increasing	increase	VERB
ftr-493	149	51	the	the	DET
ftr-493	149	52	notional	notional	ADJ
ftr-493	149	53	principal	principal	ADJ
ftr-493	149	54	amount	amount	NOUN
ftr-493	149	55	for	for	ADP
ftr-493	149	56	purposes	purpose	NOUN
ftr-493	149	57	of	of	ADP
ftr-493	149	58	calculating	calculate	VERB
ftr-493	149	59	a	a	PRON
ftr-493	149	60	's	's	PART
ftr-493	149	61	liability	liability	NOUN
ftr-493	149	62	to	to	ADP
ftr-493	149	63	b	b	NOUN
ftr-493	149	64	in	in	ADP
ftr-493	149	65	the	the	DET
ftr-493	149	66	second	second	ADJ
ftr-493	149	67	year	year	NOUN
ftr-493	149	68	,	,	PUNCT
ftr-493	149	69	but	but	CCONJ
ftr-493	149	70	not	not	PART
ftr-493	149	71	b	b	NOUN
ftr-493	149	72	's	's	PART
ftr-493	149	73	liabilities	liability	NOUN
ftr-493	149	74	to	to	PART
ftr-493	149	75	a.	a.	VERB
ftr-493	149	76	from	from	ADP
ftr-493	149	77	$	$	SYM
ftr-493	149	78	913.22	913.22	NUM
ftr-493	149	79	to	to	ADP
ftr-493	149	80	$	$	SYM
ftr-493	149	81	954.54	954.54	NUM
ftr-493	149	82	.	.	PUNCT
ftr-493	150	1	at	at	ADP
ftr-493	150	2	the	the	DET
ftr-493	150	3	end	end	NOUN
ftr-493	150	4	of	of	ADP
ftr-493	150	5	year	year	NOUN
ftr-493	150	6	2	2	NUM
ftr-493	150	7	,	,	PUNCT
ftr-493	150	8	then	then	ADV
ftr-493	150	9	,	,	PUNCT
ftr-493	150	10	a	a	PRON
ftr-493	150	11	is	be	AUX
ftr-493	150	12	required	require	VERB
ftr-493	150	13	to	to	PART
ftr-493	150	14	pay	pay	VERB
ftr-493	150	15	b	b	PROPN
ftr-493	150	16	s136.77	s136.77	NOUN
ftr-493	150	17	,	,	PUNCT
ftr-493	150	18	equal	equal	ADJ
ftr-493	150	19	to	to	ADP
ftr-493	150	20	the	the	DET
ftr-493	150	21	sum	sum	NOUN
ftr-493	150	22	of	of	ADP
ftr-493	150	23	(	(	PUNCT
ftr-493	150	24	i	i	NOUN
ftr-493	150	25	)	)	PUNCT
ftr-493	150	26	$	$	SYM
ftr-493	150	27	95.45	95.45	NUM
ftr-493	150	28	(	(	PUNCT
ftr-493	150	29	10	10	NUM
ftr-493	150	30	%	%	NOUN
ftr-493	150	31	of	of	ADP
ftr-493	150	32	$	$	SYM
ftr-493	150	33	954.54	954.54	NUM
ftr-493	150	34	)	)	PUNCT
ftr-493	150	35	,	,	PUNCT
ftr-493	150	36	and	and	CCONJ
ftr-493	150	37	(	(	PUNCT
ftr-493	150	38	ii	ii	NOUN
ftr-493	150	39	)	)	PUNCT
ftr-493	150	40	$	$	SYM
ftr-493	150	41	41.32	41.32	NUM
ftr-493	150	42	,	,	PUNCT
ftr-493	150	43	the	the	DET
ftr-493	150	44	accrued	accrue	VERB
ftr-493	150	45	but	but	CCONJ
ftr-493	150	46	unpaid	unpaid	ADJ
ftr-493	150	47	amount	amount	NOUN
ftr-493	150	48	from	from	ADP
ftr-493	150	49	year	year	NOUN
ftr-493	150	50	1	1	NUM
ftr-493	150	51	.	.	PUNCT
ftr-493	151	1	the	the	DET
ftr-493	151	2	slight	slight	ADJ
ftr-493	151	3	difference	difference	NOUN
ftr-493	151	4	between	between	ADP
ftr-493	151	5	s136.77	s136.77	NOUN
ftr-493	151	6	and	and	CCONJ
ftr-493	151	7	$	$	SYM
ftr-493	151	8	136.78	136.78	NUM
ftr-493	151	9	.	.	PUNCT
ftr-493	152	1	the	the	DET
ftr-493	152	2	number	number	NOUN
ftr-493	152	3	in	in	ADP
ftr-493	152	4	the	the	DET
ftr-493	152	5	text	text	NOUN
ftr-493	152	6	.	.	PUNCT
ftr-493	153	1	is	be	AUX
ftr-493	153	2	due	due	ADJ
ftr-493	153	3	to	to	ADP
ftr-493	153	4	rounding	round	VERB
ftr-493	153	5	error	error	NOUN
ftr-493	153	6	.	.	PUNCT
ftr-493	154	1	under	under	ADP
ftr-493	154	2	proposed	propose	VERB
ftr-493	154	3	regulations	regulation	NOUN
ftr-493	154	4	sections	section	NOUN
ftr-493	154	5	1.446	1.446	NUM
ftr-493	154	6	-	-	PUNCT
ftr-493	154	7	3(e)(3)hii)(a	3(e)(3)hii)(a	NUM
ftr-493	154	8	)	)	PUNCT
ftr-493	154	9	and	and	CCONJ
ftr-493	154	10	(	(	PUNCT
ftr-493	154	11	elt3itiiltdh	elt3itiiltdh	PROPN
ftr-493	154	12	,	,	PUNCT
ftr-493	154	13	56	56	NUM
ftr-493	154	14	fed	feed	VERB
ftr-493	154	15	.	.	PUNCT
ftr-493	155	1	reg	reg	PROPN
ftr-493	155	2	.	.	PUNCT
ftr-493	156	1	31,350	31,350	NUM
ftr-493	156	2	(	(	PUNCT
ftr-493	156	3	1991	1991	NUM
ftr-493	156	4	)	)	PUNCT
ftr-493	156	5	,	,	PUNCT
ftr-493	156	6	a	a	PRON
ftr-493	156	7	would	would	AUX
ftr-493	156	8	generally	generally	ADV
ftr-493	156	9	be	be	AUX
ftr-493	156	10	entitled	entitle	VERB
ftr-493	156	11	to	to	PART
ftr-493	156	12	deduct	deduct	VERB
ftr-493	156	13	$	$	SYM
ftr-493	156	14	91.32	91.32	NUM
ftr-493	156	15	in	in	ADP
ftr-493	156	16	year	year	NOUN
ftr-493	156	17	i	i	PRON
ftr-493	156	18	(	(	PUNCT
ftr-493	156	19	i.e	i.e	PROPN
ftr-493	156	20	..	..	PUNCT
ftr-493	156	21	the	the	DET
ftr-493	156	22	amount	amount	NOUN
ftr-493	156	23	that	that	PRON
ftr-493	156	24	economically	economically	ADV
ftr-493	156	25	accrued	accrue	VERB
ftr-493	156	26	in	in	ADP
ftr-493	156	27	year	year	NOUN
ftr-493	156	28	i	i	PRON
ftr-493	156	29	with	with	ADP
ftr-493	156	30	respect	respect	NOUN
ftr-493	156	31	to	to	ADP
ftr-493	156	32	a	a	PRON
ftr-493	156	33	's	's	PART
ftr-493	156	34	obligations	obligation	NOUN
ftr-493	156	35	to	to	ADP
ftr-493	156	36	b	b	NOUN
ftr-493	156	37	under	under	ADP
ftr-493	156	38	the	the	DET
ftr-493	156	39	swap	swap	NOUN
ftr-493	156	40	)	)	PUNCT
ftr-493	156	41	,	,	PUNCT
ftr-493	156	42	and	and	CCONJ
ftr-493	156	43	$	$	SYM
ftr-493	156	44	95.45	95.45	NUM
ftr-493	156	45	in	in	ADP
ftr-493	156	46	year	year	NOUN
ftr-493	156	47	2	2	NUM
ftr-493	156	48	(	(	PUNCT
ftr-493	156	49	i.e.	i.e.	X
ftr-493	156	50	,	,	PUNCT
ftr-493	156	51	again	again	ADV
ftr-493	156	52	,	,	PUNCT
ftr-493	156	53	the	the	DET
ftr-493	156	54	amount	amount	NOUN
ftr-493	156	55	that	that	PRON
ftr-493	156	56	economically	economically	ADV
ftr-493	156	57	accrued	accrue	VERB
ftr-493	156	58	in	in	ADP
ftr-493	156	59	year	year	NOUN
ftr-493	156	60	2	2	NUM
ftr-493	156	61	w	w	PROPN
ftr-493	156	62	ith	ith	PROPN
ftr-493	156	63	resplzet	resplzet	NOUN
ftr-493	156	64	to	to	ADP
ftr-493	156	65	a	a	PRON
ftr-493	156	66	's	's	PART
ftr-493	156	67	obligations	obligation	NOUN
ftr-493	156	68	to	to	ADP
ftr-493	156	69	b	b	X
ftr-493	156	70	)	)	PUNCT
ftr-493	156	71	with	with	ADP
ftr-493	156	72	respect	respect	NOUN
ftr-493	156	73	to	to	ADP
ftr-493	156	74	its	its	PRON
ftr-493	156	75	obligations	obligation	NOUN
ftr-493	156	76	to	to	PART
ftr-493	156	77	pay	pay	VERB
ftr-493	156	78	b	b	NUM
ftr-493	156	79	,	,	PUNCT
ftr-493	156	80	and	and	CCONJ
ftr-493	156	81	would	would	AUX
ftr-493	156	82	include	include	VERB
ftr-493	156	83	in	in	ADP
ftr-493	156	84	income	income	NOUN
ftr-493	156	85	each	each	DET
ftr-493	156	86	year	year	NOUN
ftr-493	156	87	the	the	DET
ftr-493	156	88	amounts	amount	NOUN
ftr-493	156	89	receivable	receivable	ADJ
ftr-493	156	90	from	from	ADP
ftr-493	156	91	b	b	NOUN
ftr-493	156	92	in	in	ADP
ftr-493	156	93	that	that	DET
ftr-493	156	94	year	year	NOUN
ftr-493	156	95	.	.	PUNCT
ftr-493	157	1	technically	technically	ADV
ftr-493	157	2	.	.	PUNCT
ftr-493	158	1	under	under	ADP
ftr-493	158	2	proposed	propose	VERB
ftr-493	158	3	regulations	regulation	NOUN
ftr-493	158	4	section	section	NOUN
ftr-493	158	5	1.446	1.446	NUM
ftr-493	158	6	-	-	SYM
ftr-493	158	7	3(e)(1	3(e)(1	NUM
ftr-493	158	8	)	)	PUNCT
ftr-493	158	9	,	,	PUNCT
ftr-493	158	10	these	these	DET
ftr-493	158	11	items	item	NOUN
ftr-493	158	12	would	would	AUX
ftr-493	158	13	be	be	AUX
ftr-493	158	14	netted	net	VERB
ftr-493	158	15	to	to	PART
ftr-493	158	16	determine	determine	VERB
ftr-493	158	17	a	a	DET
ftr-493	158	18	's	's	PART
ftr-493	158	19	net	net	ADJ
ftr-493	158	20	income	income	NOUN
ftr-493	158	21	or	or	CCONJ
ftr-493	158	22	deduction	deduction	NOUN
ftr-493	158	23	from	from	ADP
ftr-493	158	24	the	the	DET
ftr-493	158	25	swap	swap	NOUN
ftr-493	158	26	each	each	DET
ftr-493	158	27	year	year	NOUN
ftr-493	158	28	.	.	PUNCT
ftr-493	159	1	25	25	NUM
ftr-493	159	2	.	.	PUNCT
ftr-493	160	1	i.e.	i.e.	X
ftr-493	160	2	,	,	PUNCT
ftr-493	160	3	10	10	NUM
ftr-493	160	4	%	%	NOUN
ftr-493	160	5	(	(	PUNCT
ftr-493	160	6	the	the	DET
ftr-493	160	7	pre	pre	ADJ
ftr-493	160	8	-	-	ADJ
ftr-493	160	9	tax	tax	ADJ
ftr-493	160	10	yield	yield	NOUN
ftr-493	160	11	)	)	PUNCT
ftr-493	160	12	of	of	ADP
ftr-493	160	13	s913.22	s913.22	NOUN
ftr-493	160	14	(	(	PUNCT
ftr-493	160	15	the	the	DET
ftr-493	160	16	purchase	purchase	NOUN
ftr-493	160	17	price	price	NOUN
ftr-493	160	18	for	for	ADP
ftr-493	160	19	the	the	DET
ftr-493	160	20	treasury	treasury	NOUN
ftr-493	160	21	obligation	obligation	NOUN
ftr-493	160	22	)	)	PUNCT
ftr-493	160	23	,	,	PUNCT
ftr-493	160	24	or	or	CCONJ
ftr-493	160	25	$	$	SYM
ftr-493	160	26	91.32	91.32	NUM
ftr-493	160	27	,	,	PUNCT
ftr-493	160	28	minus	minus	CCONJ
ftr-493	160	29	coupon	coupon	NOUN
ftr-493	160	30	interest	interest	NOUN
ftr-493	160	31	of	of	ADP
ftr-493	160	32	s50.00	s50.00	NOUN
ftr-493	160	33	.	.	PUNCT
ftr-493	161	1	26	26	NUM
ftr-493	161	2	.	.	PUNCT
ftr-493	162	1	this	this	PRON
ftr-493	162	2	takes	take	VERB
ftr-493	162	3	into	into	ADP
ftr-493	162	4	account	account	NOUN
ftr-493	162	5	the	the	DET
ftr-493	162	6	amount	amount	NOUN
ftr-493	162	7	that	that	PRON
ftr-493	162	8	accrues	accrue	VERB
ftr-493	162	9	each	each	DET
ftr-493	162	10	year	year	NOUN
ftr-493	162	11	with	with	ADP
ftr-493	162	12	respect	respect	NOUN
ftr-493	162	13	to	to	ADP
ftr-493	162	14	a	a	PRON
ftr-493	162	15	's	's	PART
ftr-493	162	16	obligations	obligation	NOUN
ftr-493	162	17	to	to	ADP
ftr-493	162	18	b	b	NOUN
ftr-493	162	19	under	under	ADP
ftr-493	162	20	the	the	DET
ftr-493	162	21	swap	swap	NOUN
ftr-493	162	22	.	.	PUNCT
ftr-493	163	1	see	see	VERB
ftr-493	163	2	supra	supra	PROPN
ftr-493	163	3	note	note	PROPN
ftr-493	163	4	24	24	NUM
ftr-493	163	5	.	.	PROPN
ftr-493	163	6	19931	19931	NUM
ftr-493	164	1	florida	florida	PROPN
ftr-493	164	2	tax	tax	PROPN
ftr-493	164	3	review	review	NOUN
ftr-493	164	4	year	year	NOUN
ftr-493	164	5	2	2	NUM
ftr-493	164	6	(	(	PUNCT
ftr-493	164	7	1	1	NUM
ftr-493	164	8	)	)	PUNCT
ftr-493	164	9	coupon	coupon	NOUN
ftr-493	164	10	interest	interest	NOUN
ftr-493	164	11	:	:	PUNCT
ftr-493	164	12	(	(	PUNCT
ftr-493	164	13	2	2	X
ftr-493	164	14	)	)	PUNCT
ftr-493	164	15	market	market	NOUN
ftr-493	164	16	discount	discount	NOUN
ftr-493	164	17	:	:	PUNCT
ftr-493	164	18	(	(	PUNCT
ftr-493	164	19	3	3	X
ftr-493	164	20	)	)	PUNCT
ftr-493	164	21	net	net	ADJ
ftr-493	164	22	swap	swap	NOUN
ftr-493	164	23	income	income	NOUN
ftr-493	164	24	:	:	PUNCT
ftr-493	164	25	total	total	ADJ
ftr-493	164	26	aggregate	aggregate	ADJ
ftr-493	164	27	amount	amount	NOUN
ftr-493	164	28	payments	payment	NOUN
ftr-493	164	29	minus	minus	CCONJ
ftr-493	164	30	aggregate	aggregate	ADJ
ftr-493	164	31	amount	amount	NOUN
ftr-493	164	32	payments	payment	NOUN
ftr-493	164	33	$	$	SYM
ftr-493	164	34	50.00	50.00	NUM
ftr-493	164	35	45.4527	45.4527	NUM
ftr-493	164	36	of	of	ADP
ftr-493	164	37	b	b	PROPN
ftr-493	164	38	's	's	PART
ftr-493	164	39	$	$	SYM
ftr-493	164	40	95.4528	95.4528	NUM
ftr-493	164	41	of	of	ADP
ftr-493	164	42	b	b	NOUN
ftr-493	164	43	's	's	PART
ftr-493	164	44	total	total	NOUN
ftr-493	164	45	over	over	ADP
ftr-493	164	46	two	two	NUM
ftr-493	164	47	-	-	PUNCT
ftr-493	164	48	year	year	NOUN
ftr-493	164	49	period	period	NOUN
ftr-493	164	50	:	:	PUNCT
ftr-493	164	51	aggregate	aggregate	NOUN
ftr-493	164	52	amount	amount	NOUN
ftr-493	164	53	of	of	ADP
ftr-493	164	54	b	b	NOUN
ftr-493	164	55	's	's	PART
ftr-493	164	56	payments	payment	NOUN
ftr-493	164	57	over	over	ADP
ftr-493	164	58	twoyear	twoyear	ADJ
ftr-493	164	59	term	term	NOUN
ftr-493	164	60	of	of	ADP
ftr-493	164	61	swap	swap	NOUN
ftr-493	164	62	.	.	PUNCT
ftr-493	165	1	b.	b.	PROPN
ftr-493	165	2	taxable	taxable	ADJ
ftr-493	165	3	income	income	NOUN
ftr-493	165	4	:	:	PUNCT
ftr-493	165	5	year	year	NOUN
ftr-493	165	6	1	1	NUM
ftr-493	165	7	(	(	PUNCT
ftr-493	165	8	1	1	NUM
ftr-493	165	9	)	)	PUNCT
ftr-493	165	10	coupon	coupon	NOUN
ftr-493	165	11	interest	interest	NOUN
ftr-493	165	12	:	:	PUNCT
ftr-493	165	13	(	(	PUNCT
ftr-493	165	14	2	2	X
ftr-493	165	15	)	)	PUNCT
ftr-493	165	16	market	market	NOUN
ftr-493	165	17	discount	discount	NOUN
ftr-493	165	18	:	:	PUNCT
ftr-493	165	19	(	(	PUNCT
ftr-493	165	20	3	3	X
ftr-493	165	21	)	)	PUNCT
ftr-493	165	22	net	net	ADJ
ftr-493	165	23	swap	swap	NOUN
ftr-493	165	24	income	income	NOUN
ftr-493	165	25	:	:	PUNCT
ftr-493	165	26	total	total	ADJ
ftr-493	165	27	year	year	NOUN
ftr-493	165	28	2	2	NUM
ftr-493	165	29	(	(	PUNCT
ftr-493	165	30	1	1	NUM
ftr-493	165	31	)	)	PUNCT
ftr-493	165	32	coupon	coupon	NOUN
ftr-493	165	33	interest	interest	NOUN
ftr-493	165	34	:	:	PUNCT
ftr-493	165	35	(	(	PUNCT
ftr-493	165	36	2	2	X
ftr-493	165	37	)	)	PUNCT
ftr-493	165	38	market	market	NOUN
ftr-493	165	39	discount	discount	NOUN
ftr-493	165	40	:	:	PUNCT
ftr-493	165	41	(	(	PUNCT
ftr-493	165	42	3	3	X
ftr-493	165	43	)	)	PUNCT
ftr-493	165	44	net	net	ADJ
ftr-493	165	45	swap	swap	NOUN
ftr-493	165	46	income	income	NOUN
ftr-493	165	47	:	:	PUNCT
ftr-493	165	48	total	total	ADJ
ftr-493	165	49	$	$	SYM
ftr-493	165	50	50.00	50.00	NUM
ftr-493	165	51	0	0	NUM
ftr-493	165	52	aggregate	aggregate	NOUN
ftr-493	165	53	amount	amount	NOUN
ftr-493	165	54	of	of	ADP
ftr-493	165	55	b	b	NOUN
ftr-493	165	56	's	's	PART
ftr-493	165	57	payments	payment	NOUN
ftr-493	165	58	minus	minus	CCONJ
ftr-493	165	59	$	$	SYM
ftr-493	165	60	91.3229	91.3229	NUM
ftr-493	165	61	aggregate	aggregate	NOUN
ftr-493	165	62	amount	amount	NOUN
ftr-493	165	63	of	of	ADP
ftr-493	165	64	b	b	NOUN
ftr-493	165	65	's	's	PART
ftr-493	165	66	payments	payment	NOUN
ftr-493	165	67	minus	minus	CCONJ
ftr-493	165	68	$	$	SYM
ftr-493	165	69	41.32	41.32	NUM
ftr-493	165	70	aggregate	aggregate	ADJ
ftr-493	165	71	amount	amount	NOUN
ftr-493	165	72	payments	payment	NOUN
ftr-493	165	73	minus	minus	CCONJ
ftr-493	165	74	aggregate	aggregate	ADJ
ftr-493	165	75	amount	amount	NOUN
ftr-493	165	76	payments	payment	NOUN
ftr-493	165	77	plus	plus	CCONJ
ftr-493	165	78	$	$	SYM
ftr-493	165	79	50.00	50.00	NUM
ftr-493	165	80	86.78	86.78	NUM
ftr-493	165	81	of	of	ADP
ftr-493	165	82	b	b	PROPN
ftr-493	165	83	's	's	PART
ftr-493	165	84	$	$	SYM
ftr-493	165	85	95.4530	95.4530	NUM
ftr-493	165	86	of	of	ADP
ftr-493	165	87	b	b	PROPN
ftr-493	165	88	's	's	PART
ftr-493	165	89	$	$	SYM
ftr-493	165	90	41.3331	41.3331	NUM
ftr-493	165	91	total	total	NOUN
ftr-493	165	92	over	over	ADP
ftr-493	165	93	two	two	NUM
ftr-493	165	94	-	-	PUNCT
ftr-493	165	95	year	year	NOUN
ftr-493	165	96	period	period	NOUN
ftr-493	165	97	:	:	PUNCT
ftr-493	165	98	aggregate	aggregate	NOUN
ftr-493	165	99	amount	amount	NOUN
ftr-493	165	100	of	of	ADP
ftr-493	165	101	b	b	NOUN
ftr-493	165	102	's	's	PART
ftr-493	165	103	payments	payment	NOUN
ftr-493	165	104	over	over	ADP
ftr-493	165	105	twoyear	twoyear	ADJ
ftr-493	165	106	term	term	NOUN
ftr-493	165	107	of	of	ADP
ftr-493	165	108	swap	swap	NOUN
ftr-493	165	109	.	.	PUNCT
ftr-493	166	1	thus	thus	ADV
ftr-493	166	2	,	,	PUNCT
ftr-493	166	3	compared	compare	VERB
ftr-493	166	4	to	to	ADP
ftr-493	166	5	a	a	PRON
ftr-493	166	6	's	's	PART
ftr-493	166	7	economic	economic	ADJ
ftr-493	166	8	income	income	NOUN
ftr-493	166	9	,	,	PUNCT
ftr-493	166	10	a	a	DET
ftr-493	166	11	's	's	PART
ftr-493	166	12	taxable	taxable	ADJ
ftr-493	166	13	income	income	NOUN
ftr-493	166	14	is	be	AUX
ftr-493	166	15	understated	understate	VERB
ftr-493	166	16	by	by	ADP
ftr-493	166	17	$	$	SYM
ftr-493	166	18	41.32	41.32	NUM
ftr-493	166	19	in	in	ADP
ftr-493	166	20	year	year	NOUN
ftr-493	166	21	1	1	NUM
ftr-493	166	22	and	and	CCONJ
ftr-493	166	23	overstated	overstate	VERB
ftr-493	166	24	by	by	ADP
ftr-493	166	25	the	the	DET
ftr-493	166	26	same	same	ADJ
ftr-493	166	27	amount	amount	NOUN
ftr-493	166	28	in	in	ADP
ftr-493	166	29	year	year	NOUN
ftr-493	166	30	2	2	NUM
ftr-493	166	31	.	.	PUNCT
ftr-493	167	1	this	this	DET
ftr-493	167	2	$	$	SYM
ftr-493	167	3	41.32	41.32	NUM
ftr-493	167	4	is	be	AUX
ftr-493	167	5	,	,	PUNCT
ftr-493	167	6	of	of	ADP
ftr-493	167	7	course	course	NOUN
ftr-493	167	8	,	,	PUNCT
ftr-493	167	9	the	the	DET
ftr-493	167	10	amount	amount	NOUN
ftr-493	167	11	of	of	ADP
ftr-493	167	12	market	market	NOUN
ftr-493	167	13	discount	discount	NOUN
ftr-493	167	14	that	that	PRON
ftr-493	167	15	accrued	accrue	VERB
ftr-493	167	16	on	on	ADP
ftr-493	167	17	the	the	DET
ftr-493	167	18	u.s	u.s	PROPN
ftr-493	167	19	.	.	PROPN
ftr-493	167	20	27	27	NUM
ftr-493	167	21	.	.	PUNCT
ftr-493	168	1	i.e.	i.e.	X
ftr-493	168	2	,	,	PUNCT
ftr-493	168	3	10	10	NUM
ftr-493	168	4	%	%	NOUN
ftr-493	168	5	(	(	PUNCT
ftr-493	168	6	the	the	DET
ftr-493	168	7	pre	pre	ADJ
ftr-493	168	8	-	-	ADJ
ftr-493	168	9	tax	tax	ADJ
ftr-493	168	10	yield	yield	NOUN
ftr-493	168	11	)	)	PUNCT
ftr-493	168	12	of	of	ADP
ftr-493	168	13	$	$	SYM
ftr-493	168	14	954.54	954.54	NUM
ftr-493	168	15	(	(	PUNCT
ftr-493	168	16	$	$	SYM
ftr-493	168	17	913.22	913.22	NUM
ftr-493	168	18	purchase	purchase	NOUN
ftr-493	168	19	price	price	NOUN
ftr-493	168	20	for	for	ADP
ftr-493	168	21	the	the	DET
ftr-493	168	22	treasury	treasury	NOUN
ftr-493	168	23	obligation	obligation	NOUN
ftr-493	168	24	plus	plus	CCONJ
ftr-493	168	25	$	$	SYM
ftr-493	168	26	41.32	41.32	NUM
ftr-493	168	27	of	of	ADP
ftr-493	168	28	accrued	accrue	VERB
ftr-493	168	29	but	but	CCONJ
ftr-493	168	30	unpaid	unpaid	ADJ
ftr-493	168	31	market	market	NOUN
ftr-493	168	32	discount	discount	NOUN
ftr-493	168	33	from	from	ADP
ftr-493	168	34	year	year	NOUN
ftr-493	168	35	1	1	NUM
ftr-493	168	36	)	)	PUNCT
ftr-493	168	37	,	,	PUNCT
ftr-493	168	38	or	or	CCONJ
ftr-493	168	39	$	$	SYM
ftr-493	168	40	95.45	95.45	NUM
ftr-493	168	41	,	,	PUNCT
ftr-493	168	42	minus	minus	CCONJ
ftr-493	168	43	coupon	coupon	NOUN
ftr-493	168	44	interest	interest	NOUN
ftr-493	168	45	of	of	ADP
ftr-493	168	46	$	$	SYM
ftr-493	168	47	50.00	50.00	NUM
ftr-493	168	48	.	.	PUNCT
ftr-493	169	1	28	28	NUM
ftr-493	169	2	.	.	PUNCT
ftr-493	170	1	see	see	VERB
ftr-493	170	2	supra	supra	PROPN
ftr-493	170	3	note	note	PROPN
ftr-493	170	4	24	24	NUM
ftr-493	170	5	.	.	NOUN
ftr-493	170	6	29	29	NUM
ftr-493	170	7	.	.	PUNCT
ftr-493	171	1	see	see	VERB
ftr-493	171	2	supra	supra	PROPN
ftr-493	171	3	note	note	PROPN
ftr-493	171	4	24	24	NUM
ftr-493	171	5	.	.	PUNCT
ftr-493	171	6	30	30	NUM
ftr-493	171	7	.	.	PUNCT
ftr-493	172	1	see	see	VERB
ftr-493	172	2	supra	supra	PROPN
ftr-493	172	3	note	note	PROPN
ftr-493	172	4	24	24	NUM
ftr-493	172	5	.	.	PUNCT
ftr-493	173	1	31	31	NUM
ftr-493	173	2	.	.	PUNCT
ftr-493	174	1	again	again	ADV
ftr-493	174	2	,	,	PUNCT
ftr-493	174	3	the	the	DET
ftr-493	174	4	difference	difference	NOUN
ftr-493	174	5	between	between	ADP
ftr-493	174	6	$	$	SYM
ftr-493	174	7	41.32	41.32	NUM
ftr-493	174	8	and	and	CCONJ
ftr-493	174	9	$	$	SYM
ftr-493	174	10	41.33	41.33	NUM
ftr-493	174	11	is	be	AUX
ftr-493	174	12	due	due	ADJ
ftr-493	174	13	to	to	ADP
ftr-493	174	14	rounding	round	VERB
ftr-493	174	15	error	error	NOUN
ftr-493	174	16	.	.	PUNCT
ftr-493	175	1	[	[	X
ftr-493	175	2	vol	vol	NOUN
ftr-493	175	3	1:5	1:5	NUM
ftr-493	175	4	selected	select	VERB
ftr-493	175	5	issues	issue	NOUN
ftr-493	175	6	in	in	ADP
ftr-493	175	7	the	the	DET
ftr-493	175	8	taxation	taxation	NOUN
ftr-493	175	9	of	of	ADP
ftr-493	175	10	swaps	swap	NOUN
ftr-493	175	11	treasury	treasury	NOUN
ftr-493	175	12	obligation	obligation	NOUN
ftr-493	175	13	in	in	ADP
ftr-493	175	14	year	year	NOUN
ftr-493	175	15	i	i	PRON
ftr-493	175	16	but	but	CCONJ
ftr-493	175	17	was	be	AUX
ftr-493	175	18	not	not	PART
ftr-493	175	19	required	require	VERB
ftr-493	175	20	to	to	PART
ftr-493	175	21	be	be	AUX
ftr-493	175	22	included	include	VERB
ftr-493	175	23	in	in	ADP
ftr-493	175	24	a	a	PRON
ftr-493	175	25	's	's	PART
ftr-493	175	26	taxable	taxable	ADJ
ftr-493	175	27	income	income	NOUN
ftr-493	175	28	until	until	ADP
ftr-493	175	29	year	year	NOUN
ftr-493	175	30	2	2	NUM
ftr-493	175	31	.	.	PUNCT
ftr-493	176	1	as	as	ADP
ftr-493	176	2	in	in	ADP
ftr-493	176	3	the	the	DET
ftr-493	176	4	tax	tax	NOUN
ftr-493	176	5	-	-	PUNCT
ftr-493	176	6	exempt	exempt	ADJ
ftr-493	176	7	bond	bond	NOUN
ftr-493	176	8	example	example	NOUN
ftr-493	176	9	,	,	PUNCT
ftr-493	176	10	the	the	DET
ftr-493	176	11	combination	combination	NOUN
ftr-493	176	12	of	of	ADP
ftr-493	176	13	the	the	DET
ftr-493	176	14	market	market	NOUN
ftr-493	176	15	discount	discount	NOUN
ftr-493	176	16	bond	bond	NOUN
ftr-493	176	17	and	and	CCONJ
ftr-493	176	18	the	the	DET
ftr-493	176	19	swap	swap	NOUN
ftr-493	176	20	results	result	NOUN
ftr-493	176	21	in	in	ADP
ftr-493	176	22	the	the	DET
ftr-493	176	23	creation	creation	NOUN
ftr-493	176	24	of	of	ADP
ftr-493	176	25	a	a	DET
ftr-493	176	26	synthetic	synthetic	ADJ
ftr-493	176	27	taxadvantaged	taxadvantage	VERB
ftr-493	176	28	asset	asset	NOUN
ftr-493	176	29	,	,	PUNCT
ftr-493	176	30	one	one	NOUN
ftr-493	176	31	that	that	PRON
ftr-493	176	32	has	have	VERB
ftr-493	176	33	the	the	DET
ftr-493	176	34	non	non	ADJ
ftr-493	176	35	-	-	ADJ
ftr-493	176	36	tax	tax	ADJ
ftr-493	176	37	characteristics	characteristic	NOUN
ftr-493	176	38	of	of	ADP
ftr-493	176	39	a	a	DET
ftr-493	176	40	non	non	ADJ
ftr-493	176	41	-	-	ADJ
ftr-493	176	42	market	market	ADJ
ftr-493	176	43	discount	discount	NOUN
ftr-493	176	44	libor	libor	PROPN
ftr-493	176	45	-	-	PUNCT
ftr-493	176	46	based	base	VERB
ftr-493	176	47	floating	float	VERB
ftr-493	176	48	rate	rate	NOUN
ftr-493	176	49	debt	debt	NOUN
ftr-493	176	50	instrument	instrument	NOUN
ftr-493	176	51	but	but	CCONJ
ftr-493	176	52	that	that	PRON
ftr-493	176	53	preserves	preserve	VERB
ftr-493	176	54	the	the	DET
ftr-493	176	55	favorable	favorable	ADJ
ftr-493	176	56	tax	tax	NOUN
ftr-493	176	57	characteristics	characteristic	NOUN
ftr-493	176	58	of	of	ADP
ftr-493	176	59	the	the	DET
ftr-493	176	60	market	market	NOUN
ftr-493	176	61	discount	discount	NOUN
ftr-493	176	62	bond	bond	NOUN
ftr-493	176	63	.	.	PUNCT
ftr-493	177	1	a	a	PRON
ftr-493	177	2	's	's	PART
ftr-493	177	3	obligation	obligation	NOUN
ftr-493	177	4	to	to	PART
ftr-493	177	5	make	make	VERB
ftr-493	177	6	fixed	fix	VERB
ftr-493	177	7	payments	payment	NOUN
ftr-493	177	8	to	to	ADP
ftr-493	177	9	b	b	NOUN
ftr-493	177	10	under	under	ADP
ftr-493	177	11	the	the	DET
ftr-493	177	12	swap	swap	NOUN
ftr-493	177	13	is	be	AUX
ftr-493	177	14	fully	fully	ADV
ftr-493	177	15	offset	offset	VERB
ftr-493	177	16	as	as	ADP
ftr-493	177	17	an	an	DET
ftr-493	177	18	economic	economic	ADJ
ftr-493	177	19	matter	matter	NOUN
ftr-493	177	20	by	by	ADP
ftr-493	177	21	a	a	DET
ftr-493	177	22	's	's	PART
ftr-493	177	23	right	right	NOUN
ftr-493	177	24	to	to	PART
ftr-493	177	25	receive	receive	VERB
ftr-493	177	26	the	the	DET
ftr-493	177	27	coupon	coupon	NOUN
ftr-493	177	28	interest	interest	NOUN
ftr-493	177	29	and	and	CCONJ
ftr-493	177	30	market	market	NOUN
ftr-493	177	31	discount	discount	NOUN
ftr-493	177	32	component	component	NOUN
ftr-493	177	33	of	of	ADP
ftr-493	177	34	the	the	DET
ftr-493	177	35	principal	principal	ADJ
ftr-493	177	36	payment	payment	NOUN
ftr-493	177	37	on	on	ADP
ftr-493	177	38	the	the	DET
ftr-493	177	39	bond	bond	NOUN
ftr-493	177	40	.	.	PUNCT
ftr-493	178	1	nevertheless	nevertheless	ADV
ftr-493	178	2	,	,	PUNCT
ftr-493	178	3	the	the	DET
ftr-493	178	4	combination	combination	NOUN
ftr-493	178	5	of	of	ADP
ftr-493	178	6	a	a	DET
ftr-493	178	7	current	current	ADJ
ftr-493	178	8	deduction	deduction	NOUN
ftr-493	178	9	for	for	ADP
ftr-493	178	10	the	the	DET
ftr-493	178	11	fixed	fix	VERB
ftr-493	178	12	swap	swap	NOUN
ftr-493	178	13	payments	payment	NOUN
ftr-493	178	14	and	and	CCONJ
ftr-493	178	15	the	the	DET
ftr-493	178	16	deferred	deferred	ADJ
ftr-493	178	17	treatment	treatment	NOUN
ftr-493	178	18	of	of	ADP
ftr-493	178	19	the	the	DET
ftr-493	178	20	market	market	NOUN
ftr-493	178	21	discount	discount	NOUN
ftr-493	178	22	on	on	ADP
ftr-493	178	23	the	the	DET
ftr-493	178	24	bond	bond	NOUN
ftr-493	178	25	results	result	NOUN
ftr-493	178	26	in	in	ADP
ftr-493	178	27	a	a	DET
ftr-493	178	28	's	's	PART
ftr-493	178	29	essentially	essentially	ADV
ftr-493	178	30	being	be	AUX
ftr-493	178	31	able	able	ADJ
ftr-493	178	32	to	to	PART
ftr-493	178	33	convert	convert	VERB
ftr-493	178	34	other	other	ADJ
ftr-493	178	35	income	income	NOUN
ftr-493	178	36	into	into	ADP
ftr-493	178	37	tax	tax	NOUN
ftr-493	178	38	-	-	PUNCT
ftr-493	178	39	deferred	defer	VERB
ftr-493	178	40	market	market	NOUN
ftr-493	178	41	discount?2	discount?2	VERB
ftr-493	178	42	the	the	DET
ftr-493	178	43	combination	combination	NOUN
ftr-493	178	44	of	of	ADP
ftr-493	178	45	deferring	defer	VERB
ftr-493	178	46	taxable	taxable	ADJ
ftr-493	178	47	income	income	NOUN
ftr-493	178	48	with	with	ADP
ftr-493	178	49	respect	respect	NOUN
ftr-493	178	50	to	to	ADP
ftr-493	178	51	an	an	DET
ftr-493	178	52	asset	asset	NOUN
ftr-493	178	53	,	,	PUNCT
ftr-493	178	54	while	while	SCONJ
ftr-493	178	55	taking	take	VERB
ftr-493	178	56	a	a	DET
ftr-493	178	57	current	current	ADJ
ftr-493	178	58	deduction	deduction	NOUN
ftr-493	178	59	with	with	ADP
ftr-493	178	60	respect	respect	NOUN
ftr-493	178	61	to	to	ADP
ftr-493	178	62	an	an	DET
ftr-493	178	63	offsetting	offset	VERB
ftr-493	178	64	liability	liability	NOUN
ftr-493	178	65	,	,	PUNCT
ftr-493	178	66	resulting	result	VERB
ftr-493	178	67	in	in	ADP
ftr-493	178	68	a	a	DET
ftr-493	178	69	conversion	conversion	NOUN
ftr-493	178	70	of	of	ADP
ftr-493	178	71	non	non	ADJ
ftr-493	178	72	-	-	ADJ
ftr-493	178	73	tax	tax	ADJ
ftr-493	178	74	advantaged	advantaged	ADJ
ftr-493	178	75	income	income	NOUN
ftr-493	178	76	into	into	ADP
ftr-493	178	77	tax	tax	NOUN
ftr-493	178	78	-	-	PUNCT
ftr-493	178	79	advantaged	advantaged	ADJ
ftr-493	178	80	income	income	NOUN
ftr-493	178	81	,	,	PUNCT
ftr-493	178	82	is	be	AUX
ftr-493	178	83	a	a	DET
ftr-493	178	84	hallmark	hallmark	NOUN
ftr-493	178	85	of	of	ADP
ftr-493	178	86	tax	tax	NOUN
ftr-493	178	87	arbitrage	arbitrage	NOUN
ftr-493	178	88	strategies.33	strategies.33	NOUN
ftr-493	178	89	it	it	PRON
ftr-493	178	90	might	might	AUX
ftr-493	178	91	be	be	AUX
ftr-493	178	92	argued	argue	VERB
ftr-493	178	93	that	that	SCONJ
ftr-493	178	94	there	there	PRON
ftr-493	178	95	is	be	VERB
ftr-493	178	96	nothing	nothing	PRON
ftr-493	178	97	abusive	abusive	ADJ
ftr-493	178	98	about	about	ADP
ftr-493	178	99	this	this	DET
ftr-493	178	100	transaction	transaction	NOUN
ftr-493	178	101	since	since	SCONJ
ftr-493	178	102	it	it	PRON
ftr-493	178	103	simply	simply	ADV
ftr-493	178	104	"	"	PUNCT
ftr-493	178	105	substitutes	substitute	VERB
ftr-493	178	106	"	"	PUNCT
ftr-493	178	107	a	a	DET
ftr-493	178	108	synthetic	synthetic	ADJ
ftr-493	178	109	market	market	NOUN
ftr-493	178	110	discount	discount	NOUN
ftr-493	178	111	obligation	obligation	NOUN
ftr-493	178	112	for	for	ADP
ftr-493	178	113	a	a	DET
ftr-493	178	114	real	real	ADJ
ftr-493	178	115	one	one	NUM
ftr-493	178	116	without	without	ADP
ftr-493	178	117	increasing	increase	VERB
ftr-493	178	118	the	the	DET
ftr-493	178	119	aggregate	aggregate	ADJ
ftr-493	178	120	amount	amount	NOUN
ftr-493	178	121	of	of	ADP
ftr-493	178	122	market	market	NOUN
ftr-493	178	123	discount	discount	NOUN
ftr-493	178	124	in	in	ADP
ftr-493	178	125	the	the	DET
ftr-493	178	126	universe	universe	NOUN
ftr-493	178	127	.	.	PUNCT
ftr-493	179	1	4	4	NUM
ftr-493	179	2	nevertheless	nevertheless	ADV
ftr-493	179	3	,	,	PUNCT
ftr-493	179	4	there	there	PRON
ftr-493	179	5	is	be	VERB
ftr-493	179	6	something	something	PRON
ftr-493	179	7	troubling	troubling	ADJ
ftr-493	179	8	about	about	ADP
ftr-493	179	9	all	all	DET
ftr-493	179	10	this	this	PRON
ftr-493	179	11	.	.	PUNCT
ftr-493	180	1	in	in	ADP
ftr-493	180	2	32	32	NUM
ftr-493	180	3	.	.	PUNCT
ftr-493	181	1	in	in	ADP
ftr-493	181	2	particular	particular	ADJ
ftr-493	181	3	,	,	PUNCT
ftr-493	181	4	to	to	ADP
ftr-493	181	5	the	the	DET
ftr-493	181	6	extent	extent	NOUN
ftr-493	181	7	the	the	DET
ftr-493	181	8	libor	libor	PROPN
ftr-493	181	9	-	-	PUNCT
ftr-493	181	10	based	base	VERB
ftr-493	181	11	payments	payment	NOUN
ftr-493	181	12	received	receive	VERB
ftr-493	181	13	from	from	ADP
ftr-493	181	14	b	b	PROPN
ftr-493	181	15	on	on	ADP
ftr-493	181	16	the	the	DET
ftr-493	181	17	swap	swap	NOUN
ftr-493	181	18	are	be	AUX
ftr-493	181	19	at	at	ADV
ftr-493	181	20	least	least	ADJ
ftr-493	181	21	$	$	SYM
ftr-493	181	22	41.32	41.32	NUM
ftr-493	181	23	in	in	ADP
ftr-493	181	24	year	year	NOUN
ftr-493	181	25	i	i	PRON
ftr-493	181	26	,	,	PUNCT
ftr-493	181	27	a	a	PRON
ftr-493	181	28	will	will	AUX
ftr-493	181	29	be	be	AUX
ftr-493	181	30	able	able	ADJ
ftr-493	181	31	to	to	PART
ftr-493	181	32	convert	convert	VERB
ftr-493	181	33	$	$	SYM
ftr-493	181	34	41.32	41.32	NUM
ftr-493	181	35	of	of	ADP
ftr-493	181	36	those	those	DET
ftr-493	181	37	payments	payment	NOUN
ftr-493	181	38	into	into	ADP
ftr-493	181	39	tax	tax	NOUN
ftr-493	181	40	-	-	PUNCT
ftr-493	181	41	deferred	defer	VERB
ftr-493	181	42	market	market	NOUN
ftr-493	181	43	discount	discount	NOUN
ftr-493	181	44	.	.	PUNCT
ftr-493	182	1	if	if	SCONJ
ftr-493	182	2	,	,	PUNCT
ftr-493	182	3	because	because	SCONJ
ftr-493	182	4	of	of	ADP
ftr-493	182	5	the	the	DET
ftr-493	182	6	prevailing	prevail	VERB
ftr-493	182	7	level	level	NOUN
ftr-493	182	8	of	of	ADP
ftr-493	182	9	the	the	DET
ftr-493	182	10	libor	libor	PROPN
ftr-493	182	11	,	,	PUNCT
ftr-493	182	12	payments	payment	NOUN
ftr-493	182	13	from	from	ADP
ftr-493	182	14	b	b	NOUN
ftr-493	182	15	in	in	ADP
ftr-493	182	16	year	year	NOUN
ftr-493	182	17	1	1	NUM
ftr-493	182	18	are	be	AUX
ftr-493	182	19	less	less	ADJ
ftr-493	182	20	than	than	ADP
ftr-493	182	21	$	$	SYM
ftr-493	182	22	41.32	41.32	NUM
ftr-493	182	23	,	,	PUNCT
ftr-493	182	24	a	a	PRON
ftr-493	182	25	will	will	AUX
ftr-493	182	26	be	be	AUX
ftr-493	182	27	able	able	ADJ
ftr-493	182	28	to	to	PART
ftr-493	182	29	defer	defer	VERB
ftr-493	182	30	other	other	ADJ
ftr-493	182	31	(	(	PUNCT
ftr-493	182	32	non	non	ADJ
ftr-493	182	33	-	-	ADJ
ftr-493	182	34	swap	swap	ADJ
ftr-493	182	35	related	related	ADJ
ftr-493	182	36	)	)	PUNCT
ftr-493	182	37	income	income	NOUN
ftr-493	182	38	.	.	PUNCT
ftr-493	183	1	because	because	SCONJ
ftr-493	183	2	the	the	DET
ftr-493	183	3	term	term	NOUN
ftr-493	183	4	of	of	ADP
ftr-493	183	5	the	the	DET
ftr-493	183	6	swap	swap	NOUN
ftr-493	183	7	and	and	CCONJ
ftr-493	183	8	the	the	DET
ftr-493	183	9	remaining	remain	VERB
ftr-493	183	10	term	term	NOUN
ftr-493	183	11	of	of	ADP
ftr-493	183	12	the	the	DET
ftr-493	183	13	treasury	treasury	NOUN
ftr-493	183	14	obligation	obligation	NOUN
ftr-493	183	15	are	be	AUX
ftr-493	183	16	only	only	ADV
ftr-493	183	17	two	two	NUM
ftr-493	183	18	years	year	NOUN
ftr-493	183	19	,	,	PUNCT
ftr-493	183	20	the	the	DET
ftr-493	183	21	example	example	NOUN
ftr-493	183	22	in	in	ADP
ftr-493	183	23	the	the	DET
ftr-493	183	24	text	text	NOUN
ftr-493	183	25	provides	provide	VERB
ftr-493	183	26	for	for	ADP
ftr-493	183	27	only	only	ADV
ftr-493	183	28	a	a	DET
ftr-493	183	29	one	one	NUM
ftr-493	183	30	-	-	PUNCT
ftr-493	183	31	year	year	NOUN
ftr-493	183	32	deferral	deferral	NOUN
ftr-493	183	33	.	.	PUNCT
ftr-493	184	1	by	by	ADP
ftr-493	184	2	using	use	VERB
ftr-493	184	3	longer	long	ADJ
ftr-493	184	4	term	term	NOUN
ftr-493	184	5	swaps	swap	NOUN
ftr-493	184	6	and	and	CCONJ
ftr-493	184	7	market	market	NOUN
ftr-493	184	8	discount	discount	NOUN
ftr-493	184	9	obligations	obligation	NOUN
ftr-493	184	10	,	,	PUNCT
ftr-493	184	11	of	of	ADP
ftr-493	184	12	course	course	NOUN
ftr-493	184	13	,	,	PUNCT
ftr-493	184	14	synthetic	synthetic	ADJ
ftr-493	184	15	assets	asset	NOUN
ftr-493	184	16	could	could	AUX
ftr-493	184	17	be	be	AUX
ftr-493	184	18	created	create	VERB
ftr-493	184	19	that	that	PRON
ftr-493	184	20	provide	provide	VERB
ftr-493	184	21	for	for	ADP
ftr-493	184	22	greater	great	ADJ
ftr-493	184	23	periods	period	NOUN
ftr-493	184	24	of	of	ADP
ftr-493	184	25	deferral	deferral	NOUN
ftr-493	184	26	.	.	PUNCT
ftr-493	185	1	indeed	indeed	ADV
ftr-493	185	2	,	,	PUNCT
ftr-493	185	3	because	because	SCONJ
ftr-493	185	4	changes	change	NOUN
ftr-493	185	5	in	in	ADP
ftr-493	185	6	interest	interest	NOUN
ftr-493	185	7	rates	rate	NOUN
ftr-493	185	8	cause	cause	VERB
ftr-493	185	9	larger	large	ADJ
ftr-493	185	10	changes	change	NOUN
ftr-493	185	11	in	in	ADP
ftr-493	185	12	the	the	DET
ftr-493	185	13	prices	price	NOUN
ftr-493	185	14	of	of	ADP
ftr-493	185	15	longer	long	ADJ
ftr-493	185	16	-	-	PUNCT
ftr-493	185	17	term	term	NOUN
ftr-493	185	18	bonds	bond	NOUN
ftr-493	185	19	relative	relative	ADJ
ftr-493	185	20	to	to	ADP
ftr-493	185	21	shorter	short	ADJ
ftr-493	185	22	-	-	PUNCT
ftr-493	185	23	term	term	NOUN
ftr-493	185	24	bonds	bond	NOUN
ftr-493	185	25	,	,	PUNCT
ftr-493	185	26	thereby	thereby	ADV
ftr-493	185	27	maximizing	maximize	VERB
ftr-493	185	28	the	the	DET
ftr-493	185	29	amount	amount	NOUN
ftr-493	185	30	of	of	ADP
ftr-493	185	31	resulting	result	VERB
ftr-493	185	32	market	market	NOUN
ftr-493	185	33	discount	discount	NOUN
ftr-493	185	34	,	,	PUNCT
ftr-493	185	35	the	the	DET
ftr-493	185	36	strategy	strategy	NOUN
ftr-493	185	37	may	may	AUX
ftr-493	185	38	be	be	AUX
ftr-493	185	39	"	"	PUNCT
ftr-493	185	40	optimized	optimize	VERB
ftr-493	185	41	"	"	PUNCT
ftr-493	185	42	by	by	ADP
ftr-493	185	43	using	use	VERB
ftr-493	185	44	longer	long	ADJ
ftr-493	185	45	-	-	PUNCT
ftr-493	185	46	term	term	NOUN
ftr-493	185	47	swaps	swap	NOUN
ftr-493	185	48	and	and	CCONJ
ftr-493	185	49	market	market	NOUN
ftr-493	185	50	discount	discount	NOUN
ftr-493	185	51	bonds	bond	NOUN
ftr-493	185	52	.	.	PUNCT
ftr-493	186	1	33	33	NUM
ftr-493	186	2	.	.	PUNCT
ftr-493	187	1	unlike	unlike	ADP
ftr-493	187	2	classic	classic	ADJ
ftr-493	187	3	tax	tax	NOUN
ftr-493	187	4	arbitrage	arbitrage	NOUN
ftr-493	187	5	strategies	strategy	NOUN
ftr-493	187	6	,	,	PUNCT
ftr-493	187	7	of	of	ADP
ftr-493	187	8	course	course	NOUN
ftr-493	187	9	,	,	PUNCT
ftr-493	187	10	the	the	DET
ftr-493	187	11	swaplbond	swaplbond	ADJ
ftr-493	187	12	examples	example	NOUN
ftr-493	187	13	discussed	discuss	VERB
ftr-493	187	14	in	in	ADP
ftr-493	187	15	the	the	DET
ftr-493	187	16	text	text	NOUN
ftr-493	187	17	require	require	VERB
ftr-493	187	18	a	a	PRON
ftr-493	187	19	to	to	PART
ftr-493	187	20	enter	enter	VERB
ftr-493	187	21	into	into	ADP
ftr-493	187	22	a	a	DET
ftr-493	187	23	second	second	ADJ
ftr-493	187	24	long	long	ADJ
ftr-493	187	25	position	position	NOUN
ftr-493	187	26	(	(	PUNCT
ftr-493	187	27	i.e.	i.e.	X
ftr-493	187	28	,	,	PUNCT
ftr-493	187	29	the	the	DET
ftr-493	187	30	right	right	NOUN
ftr-493	187	31	to	to	PART
ftr-493	187	32	receive	receive	VERB
ftr-493	187	33	libor	libor	PROPN
ftr-493	187	34	-	-	PUNCT
ftr-493	187	35	based	base	VERB
ftr-493	187	36	payments	payment	NOUN
ftr-493	187	37	from	from	ADP
ftr-493	187	38	b	b	NOUN
ftr-493	187	39	under	under	ADP
ftr-493	187	40	the	the	DET
ftr-493	187	41	swap	swap	NOUN
ftr-493	187	42	)	)	PUNCT
ftr-493	187	43	,	,	PUNCT
ftr-493	187	44	which	which	PRON
ftr-493	187	45	arguably	arguably	ADV
ftr-493	187	46	makes	make	VERB
ftr-493	187	47	such	such	ADJ
ftr-493	187	48	transactions	transaction	NOUN
ftr-493	187	49	nonabusive	nonabusive	ADJ
ftr-493	187	50	or	or	CCONJ
ftr-493	187	51	,	,	PUNCT
ftr-493	187	52	at	at	ADP
ftr-493	187	53	least	least	ADJ
ftr-493	187	54	,	,	PUNCT
ftr-493	187	55	far	far	ADV
ftr-493	187	56	less	less	ADV
ftr-493	187	57	abusive	abusive	ADJ
ftr-493	187	58	than	than	ADP
ftr-493	187	59	classic	classic	ADJ
ftr-493	187	60	tax	tax	NOUN
ftr-493	187	61	arbitrage	arbitrage	NOUN
ftr-493	187	62	strategies	strategy	NOUN
ftr-493	187	63	.	.	PUNCT
ftr-493	188	1	34	34	NUM
ftr-493	188	2	.	.	PUNCT
ftr-493	189	1	this	this	DET
ftr-493	189	2	statement	statement	NOUN
ftr-493	189	3	,	,	PUNCT
ftr-493	189	4	of	of	ADP
ftr-493	189	5	course	course	NOUN
ftr-493	189	6	,	,	PUNCT
ftr-493	189	7	is	be	AUX
ftr-493	189	8	not	not	PART
ftr-493	189	9	strictly	strictly	ADV
ftr-493	189	10	true	true	ADJ
ftr-493	189	11	.	.	PUNCT
ftr-493	190	1	more	more	ADV
ftr-493	190	2	precisely	precisely	ADV
ftr-493	190	3	,	,	PUNCT
ftr-493	190	4	the	the	DET
ftr-493	190	5	potential	potential	ADJ
ftr-493	190	6	supply	supply	NOUN
ftr-493	190	7	of	of	ADP
ftr-493	190	8	market	market	NOUN
ftr-493	190	9	discount	discount	NOUN
ftr-493	190	10	bonds	bond	NOUN
ftr-493	190	11	is	be	AUX
ftr-493	190	12	limited	limit	VERB
ftr-493	190	13	at	at	ADP
ftr-493	190	14	any	any	DET
ftr-493	190	15	given	give	VERB
ftr-493	190	16	time	time	NOUN
ftr-493	190	17	by	by	ADP
ftr-493	190	18	the	the	DET
ftr-493	190	19	level	level	NOUN
ftr-493	190	20	of	of	ADP
ftr-493	190	21	prevailing	prevail	VERB
ftr-493	190	22	interest	interest	NOUN
ftr-493	190	23	rates	rate	NOUN
ftr-493	190	24	and	and	CCONJ
ftr-493	190	25	the	the	DET
ftr-493	190	26	payment	payment	NOUN
ftr-493	190	27	terms	term	NOUN
ftr-493	190	28	of	of	ADP
ftr-493	190	29	existing	exist	VERB
ftr-493	190	30	bonds	bond	NOUN
ftr-493	190	31	held	hold	VERB
ftr-493	190	32	by	by	ADP
ftr-493	190	33	investors	investor	NOUN
ftr-493	190	34	.	.	PUNCT
ftr-493	191	1	however	however	ADV
ftr-493	191	2	,	,	PUNCT
ftr-493	191	3	because	because	SCONJ
ftr-493	191	4	a	a	DET
ftr-493	191	5	bond	bond	NOUN
ftr-493	191	6	is	be	AUX
ftr-493	191	7	considered	consider	VERB
ftr-493	191	8	a	a	DET
ftr-493	191	9	market	market	NOUN
ftr-493	191	10	discount	discount	NOUN
ftr-493	191	11	bond	bond	NOUN
ftr-493	191	12	,	,	PUNCT
ftr-493	191	13	within	within	ADP
ftr-493	191	14	the	the	DET
ftr-493	191	15	meaning	meaning	NOUN
ftr-493	191	16	of	of	ADP
ftr-493	191	17	section	section	NOUN
ftr-493	191	18	1278	1278	NUM
ftr-493	191	19	,	,	PUNCT
ftr-493	191	20	only	only	ADV
ftr-493	191	21	if	if	SCONJ
ftr-493	191	22	the	the	DET
ftr-493	191	23	holder	holder	NOUN
ftr-493	191	24	's	's	PART
ftr-493	191	25	tax	tax	NOUN
ftr-493	191	26	basis	basis	NOUN
ftr-493	191	27	in	in	ADP
ftr-493	191	28	the	the	DET
ftr-493	191	29	bond	bond	NOUN
ftr-493	191	30	is	be	AUX
ftr-493	191	31	less	less	ADJ
ftr-493	191	32	than	than	ADP
ftr-493	191	33	the	the	DET
ftr-493	191	34	bond	bond	NOUN
ftr-493	191	35	's	's	PART
ftr-493	191	36	stated	state	VERB
ftr-493	191	37	redemption	redemption	NOUN
ftr-493	191	38	price	price	NOUN
ftr-493	191	39	at	at	ADP
ftr-493	191	40	maturity	maturity	NOUN
ftr-493	191	41	,	,	PUNCT
ftr-493	191	42	the	the	DET
ftr-493	191	43	quantity	quantity	NOUN
ftr-493	191	44	of	of	ADP
ftr-493	191	45	actual	actual	ADJ
ftr-493	191	46	market	market	NOUN
ftr-493	191	47	discount	discount	NOUN
ftr-493	191	48	bonds	bond	NOUN
ftr-493	191	49	extant	extant	ADJ
ftr-493	191	50	will	will	AUX
ftr-493	191	51	be	be	AUX
ftr-493	191	52	increased	increase	VERB
ftr-493	191	53	if	if	SCONJ
ftr-493	191	54	"	"	PUNCT
ftr-493	191	55	high	high	ADJ
ftr-493	191	56	basis	basis	NOUN
ftr-493	191	57	"	"	PUNCT
ftr-493	191	58	investors	investor	NOUN
ftr-493	191	59	can	can	AUX
ftr-493	191	60	be	be	AUX
ftr-493	191	61	induced	induce	VERB
ftr-493	191	62	to	to	PART
ftr-493	191	63	sell	sell	VERB
ftr-493	191	64	their	their	PRON
ftr-493	191	65	depreciated	depreciate	VERB
ftr-493	191	66	bonds	bond	NOUN
ftr-493	191	67	to	to	ADP
ftr-493	191	68	new	new	ADJ
ftr-493	191	69	"	"	PUNCT
ftr-493	191	70	low	low	ADJ
ftr-493	191	71	basis	basis	NOUN
ftr-493	191	72	"	"	PUNCT
ftr-493	191	73	investors	investor	NOUN
ftr-493	191	74	.	.	PUNCT
ftr-493	192	1	such	such	ADJ
ftr-493	192	2	sales	sale	NOUN
ftr-493	192	3	will	will	AUX
ftr-493	192	4	also	also	ADV
ftr-493	192	5	,	,	PUNCT
ftr-493	192	6	of	of	ADP
ftr-493	192	7	course	course	NOUN
ftr-493	192	8	,	,	PUNCT
ftr-493	192	9	generate	generate	VERB
ftr-493	192	10	deductible	deductible	ADJ
ftr-493	192	11	losses	loss	NOUN
ftr-493	192	12	for	for	ADP
ftr-493	192	13	the	the	DET
ftr-493	192	14	"	"	PUNCT
ftr-493	192	15	high	high	ADJ
ftr-493	192	16	basis	basis	NOUN
ftr-493	192	17	"	"	PUNCT
ftr-493	192	18	sellers	seller	NOUN
ftr-493	192	19	.	.	PUNCT
ftr-493	193	1	allowing	allow	VERB
ftr-493	193	2	investors	investor	NOUN
ftr-493	193	3	to	to	PART
ftr-493	193	4	customize	customize	VERB
ftr-493	193	5	their	their	PRON
ftr-493	193	6	investments	investment	NOUN
ftr-493	193	7	through	through	ADP
ftr-493	193	8	the	the	DET
ftr-493	193	9	simultaneous	simultaneous	ADJ
ftr-493	193	10	holding	holding	NOUN
ftr-493	193	11	of	of	ADP
ftr-493	193	12	a	a	DET
ftr-493	193	13	market	market	NOUN
ftr-493	193	14	discount	discount	NOUN
ftr-493	193	15	bond	bond	NOUN
ftr-493	193	16	and	and	CCONJ
ftr-493	193	17	an	an	DET
ftr-493	193	18	interest	interest	NOUN
ftr-493	193	19	19931	19931	NUM
ftr-493	193	20	florida	florida	PROPN
ftr-493	193	21	tax	tax	PROPN
ftr-493	193	22	review	review	NOUN
ftr-493	193	23	particular	particular	ADJ
ftr-493	193	24	,	,	PUNCT
ftr-493	193	25	inasmuch	inasmuch	ADJ
ftr-493	193	26	as	as	SCONJ
ftr-493	193	27	the	the	DET
ftr-493	193	28	original	original	ADJ
ftr-493	193	29	decision	decision	NOUN
ftr-493	193	30	by	by	ADP
ftr-493	193	31	congress	congress	PROPN
ftr-493	193	32	not	not	PART
ftr-493	193	33	to	to	PART
ftr-493	193	34	require	require	VERB
ftr-493	193	35	market	market	NOUN
ftr-493	193	36	discount	discount	NOUN
ftr-493	193	37	to	to	PART
ftr-493	193	38	be	be	AUX
ftr-493	193	39	included	include	VERB
ftr-493	193	40	in	in	ADP
ftr-493	193	41	income	income	NOUN
ftr-493	193	42	on	on	ADP
ftr-493	193	43	a	a	DET
ftr-493	193	44	current	current	ADJ
ftr-493	193	45	basis	basis	NOUN
ftr-493	193	46	was	be	AUX
ftr-493	193	47	based	base	VERB
ftr-493	193	48	on	on	ADP
ftr-493	193	49	concerns	concern	NOUN
ftr-493	193	50	about	about	ADP
ftr-493	193	51	administrative	administrative	ADJ
ftr-493	193	52	convenience,35	convenience,35	PROPN
ftr-493	193	53	it	it	PRON
ftr-493	193	54	seems	seem	VERB
ftr-493	193	55	somewhat	somewhat	ADV
ftr-493	193	56	anomalous	anomalous	ADJ
ftr-493	193	57	that	that	SCONJ
ftr-493	193	58	such	such	ADJ
ftr-493	193	59	concerns	concern	NOUN
ftr-493	193	60	should	should	AUX
ftr-493	193	61	prevail	prevail	VERB
ftr-493	193	62	here	here	ADV
ftr-493	193	63	where	where	SCONJ
ftr-493	193	64	the	the	DET
ftr-493	193	65	parties	party	NOUN
ftr-493	193	66	are	be	AUX
ftr-493	193	67	obviously	obviously	ADV
ftr-493	193	68	economically	economically	ADV
ftr-493	193	69	sophisticated	sophisticated	ADJ
ftr-493	193	70	and	and	CCONJ
ftr-493	193	71	the	the	DET
ftr-493	193	72	swap	swap	NOUN
ftr-493	193	73	tax	tax	NOUN
ftr-493	193	74	accounting	accounting	NOUN
ftr-493	193	75	rules	rule	NOUN
ftr-493	193	76	themselves	themselves	PRON
ftr-493	193	77	,	,	PUNCT
ftr-493	193	78	as	as	SCONJ
ftr-493	193	79	provided	provide	VERB
ftr-493	193	80	in	in	ADP
ftr-493	193	81	proposed	propose	VERB
ftr-493	193	82	regulations	regulation	NOUN
ftr-493	193	83	section	section	NOUN
ftr-493	193	84	1.446	1.446	NUM
ftr-493	193	85	-	-	SYM
ftr-493	193	86	3	3	NUM
ftr-493	193	87	,	,	PUNCT
ftr-493	193	88	56	56	NUM
ftr-493	193	89	fed	feed	VERB
ftr-493	193	90	.	.	PUNCT
ftr-493	194	1	reg	reg	PROPN
ftr-493	194	2	.	.	PUNCT
ftr-493	195	1	31,350	31,350	NUM
ftr-493	195	2	(	(	PUNCT
ftr-493	195	3	1991	1991	NUM
ftr-493	195	4	)	)	PUNCT
ftr-493	195	5	,	,	PUNCT
ftr-493	195	6	seem	seem	VERB
ftr-493	195	7	to	to	PART
ftr-493	195	8	be	be	AUX
ftr-493	195	9	animated	animate	VERB
ftr-493	195	10	more	more	ADV
ftr-493	195	11	by	by	ADP
ftr-493	195	12	a	a	DET
ftr-493	195	13	desire	desire	NOUN
ftr-493	195	14	to	to	PART
ftr-493	195	15	measure	measure	VERB
ftr-493	195	16	income	income	NOUN
ftr-493	195	17	accurately	accurately	ADV
ftr-493	195	18	than	than	ADP
ftr-493	195	19	by	by	ADP
ftr-493	195	20	concerns	concern	NOUN
ftr-493	195	21	about	about	ADP
ftr-493	195	22	simplicity.3	simplicity.3	PROPN
ftr-493	195	23	6	6	NUM
ftr-493	195	24	nevertheless	nevertheless	ADV
ftr-493	195	25	,	,	PUNCT
ftr-493	195	26	it	it	PRON
ftr-493	195	27	is	be	AUX
ftr-493	195	28	hard	hard	ADJ
ftr-493	195	29	to	to	PART
ftr-493	195	30	identify	identify	VERB
ftr-493	195	31	any	any	DET
ftr-493	195	32	particular	particular	ADJ
ftr-493	195	33	provision	provision	NOUN
ftr-493	195	34	of	of	ADP
ftr-493	195	35	the	the	DET
ftr-493	195	36	code	code	NOUN
ftr-493	195	37	or	or	CCONJ
ftr-493	195	38	the	the	DET
ftr-493	195	39	regulations	regulation	NOUN
ftr-493	195	40	that	that	PRON
ftr-493	195	41	would	would	AUX
ftr-493	195	42	be	be	AUX
ftr-493	195	43	violated	violate	VERB
ftr-493	195	44	by	by	ADP
ftr-493	195	45	rate	rate	NOUN
ftr-493	195	46	swap	swap	NOUN
ftr-493	195	47	should	should	AUX
ftr-493	195	48	enhance	enhance	VERB
ftr-493	195	49	the	the	DET
ftr-493	195	50	efficiency	efficiency	NOUN
ftr-493	195	51	of	of	ADP
ftr-493	195	52	the	the	DET
ftr-493	195	53	market	market	NOUN
ftr-493	195	54	discount	discount	NOUN
ftr-493	195	55	bond	bond	NOUN
ftr-493	195	56	"	"	PUNCT
ftr-493	195	57	market	market	NOUN
ftr-493	195	58	"	"	PUNCT
ftr-493	195	59	and	and	CCONJ
ftr-493	195	60	result	result	VERB
ftr-493	195	61	in	in	ADP
ftr-493	195	62	the	the	DET
ftr-493	195	63	creation	creation	NOUN
ftr-493	195	64	of	of	ADP
ftr-493	195	65	more	more	ADJ
ftr-493	195	66	market	market	NOUN
ftr-493	195	67	discount	discount	NOUN
ftr-493	195	68	bonds	bond	NOUN
ftr-493	195	69	.	.	PUNCT
ftr-493	196	1	a	a	DET
ftr-493	196	2	similar	similar	ADJ
ftr-493	196	3	analysis	analysis	NOUN
ftr-493	196	4	would	would	AUX
ftr-493	196	5	apply	apply	VERB
ftr-493	196	6	to	to	ADP
ftr-493	196	7	the	the	DET
ftr-493	196	8	tax	tax	NOUN
ftr-493	196	9	-	-	PUNCT
ftr-493	196	10	exempt	exempt	ADJ
ftr-493	196	11	bond	bond	NOUN
ftr-493	196	12	market	market	NOUN
ftr-493	196	13	.	.	PUNCT
ftr-493	197	1	35	35	NUM
ftr-493	197	2	.	.	PUNCT
ftr-493	198	1	see	see	VERB
ftr-493	198	2	h.r	h.r	PROPN
ftr-493	198	3	.	.	PROPN
ftr-493	198	4	rep	rep	PROPN
ftr-493	198	5	.	.	PROPN
ftr-493	199	1	no	no	INTJ
ftr-493	199	2	.	.	NOUN
ftr-493	199	3	432	432	NUM
ftr-493	199	4	,	,	PUNCT
ftr-493	199	5	98th	98th	ADJ
ftr-493	199	6	cong	cong	NOUN
ftr-493	199	7	.	.	PROPN
ftr-493	199	8	,	,	PUNCT
ftr-493	199	9	2d	2d	NUM
ftr-493	199	10	sess	sess	NOUN
ftr-493	199	11	.	.	PUNCT
ftr-493	200	1	,	,	PUNCT
ftr-493	200	2	pt	pt	PROPN
ftr-493	200	3	.	.	PROPN
ftr-493	200	4	2	2	NUM
ftr-493	200	5	,	,	PUNCT
ftr-493	200	6	at	at	ADP
ftr-493	200	7	1170	1170	NUM
ftr-493	200	8	(	(	PUNCT
ftr-493	200	9	1984	1984	NUM
ftr-493	200	10	)	)	PUNCT
ftr-493	200	11	.	.	PUNCT
ftr-493	201	1	36	36	NUM
ftr-493	201	2	.	.	PUNCT
ftr-493	202	1	see	see	VERB
ftr-493	202	2	,	,	PUNCT
ftr-493	202	3	e.g.	e.g.	ADV
ftr-493	202	4	,	,	PUNCT
ftr-493	202	5	prop	prop	NOUN
ftr-493	202	6	.	.	PUNCT
ftr-493	202	7	regs	regs	PROPN
ftr-493	202	8	.	.	PUNCT
ftr-493	203	1	§	§	PROPN
ftr-493	203	2	1.446	1.446	NUM
ftr-493	203	3	-	-	NUM
ftr-493	203	4	3(e)(3)(ii)(b	3(e)(3)(ii)(b	NUM
ftr-493	203	5	)	)	PUNCT
ftr-493	203	6	and	and	CCONJ
ftr-493	203	7	(	(	PUNCT
ftr-493	203	8	e)(3)(ii)(c	e)(3)(ii)(c	PROPN
ftr-493	203	9	)	)	PUNCT
ftr-493	203	10	,	,	PUNCT
ftr-493	203	11	56	56	NUM
ftr-493	203	12	fed	feed	VERB
ftr-493	203	13	.	.	PUNCT
ftr-493	204	1	reg	reg	PROPN
ftr-493	204	2	.	.	PUNCT
ftr-493	205	1	31,350	31,350	NUM
ftr-493	205	2	(	(	PUNCT
ftr-493	205	3	1991	1991	NUM
ftr-493	205	4	)	)	PUNCT
ftr-493	205	5	(	(	PUNCT
ftr-493	205	6	requiring	require	VERB
ftr-493	205	7	,	,	PUNCT
ftr-493	205	8	in	in	ADP
ftr-493	205	9	certain	certain	ADJ
ftr-493	205	10	circumstances	circumstance	NOUN
ftr-493	205	11	,	,	PUNCT
ftr-493	205	12	that	that	SCONJ
ftr-493	205	13	"	"	PUNCT
ftr-493	205	14	nonperiodic	nonperiodic	ADJ
ftr-493	205	15	payments	payment	NOUN
ftr-493	205	16	"	"	PUNCT
ftr-493	205	17	with	with	ADP
ftr-493	205	18	respect	respect	NOUN
ftr-493	205	19	to	to	ADP
ftr-493	205	20	a	a	DET
ftr-493	205	21	swap	swap	NOUN
ftr-493	205	22	,	,	PUNCT
ftr-493	205	23	cap	cap	NOUN
ftr-493	205	24	or	or	CCONJ
ftr-493	205	25	floor	floor	NOUN
ftr-493	205	26	be	be	AUX
ftr-493	205	27	spread	spread	VERB
ftr-493	205	28	over	over	ADP
ftr-493	205	29	the	the	DET
ftr-493	205	30	life	life	NOUN
ftr-493	205	31	of	of	ADP
ftr-493	205	32	the	the	DET
ftr-493	205	33	contract	contract	NOUN
ftr-493	205	34	"	"	PUNCT
ftr-493	205	35	in	in	ADP
ftr-493	205	36	accordance	accordance	NOUN
ftr-493	205	37	with	with	ADP
ftr-493	205	38	the	the	DET
ftr-493	205	39	values	value	NOUN
ftr-493	205	40	of	of	ADP
ftr-493	205	41	a	a	DET
ftr-493	205	42	series	series	NOUN
ftr-493	205	43	of	of	ADP
ftr-493	205	44	cash	cash	NOUN
ftr-493	205	45	-	-	PUNCT
ftr-493	205	46	settled	settle	VERB
ftr-493	205	47	forward	forward	ADJ
ftr-493	205	48	contracts	contract	NOUN
ftr-493	205	49	[	[	X
ftr-493	205	50	or	or	CCONJ
ftr-493	205	51	,	,	PUNCT
ftr-493	205	52	in	in	ADP
ftr-493	205	53	the	the	DET
ftr-493	205	54	case	case	NOUN
ftr-493	205	55	of	of	ADP
ftr-493	205	56	caps	cap	NOUN
ftr-493	205	57	and	and	CCONJ
ftr-493	205	58	floors	floor	NOUN
ftr-493	205	59	,	,	PUNCT
ftr-493	205	60	option	option	NOUN
ftr-493	205	61	contracts	contract	NOUN
ftr-493	205	62	]	]	PUNCT
ftr-493	205	63	that	that	PRON
ftr-493	205	64	reflect	reflect	VERB
ftr-493	205	65	the	the	DET
ftr-493	205	66	specified	specified	ADJ
ftr-493	205	67	index	index	NOUN
ftr-493	205	68	and	and	CCONJ
ftr-493	205	69	the	the	DET
ftr-493	205	70	notional	notional	ADJ
ftr-493	205	71	principal	principal	ADJ
ftr-493	205	72	amount	amount	NOUN
ftr-493	205	73	"	"	PUNCT
ftr-493	205	74	)	)	PUNCT
ftr-493	205	75	.	.	PUNCT
ftr-493	206	1	while	while	SCONJ
ftr-493	206	2	it	it	PRON
ftr-493	206	3	is	be	AUX
ftr-493	206	4	true	true	ADJ
ftr-493	206	5	that	that	SCONJ
ftr-493	206	6	the	the	DET
ftr-493	206	7	proposed	propose	VERB
ftr-493	206	8	regulations	regulation	NOUN
ftr-493	206	9	do	do	AUX
ftr-493	206	10	provide	provide	VERB
ftr-493	206	11	for	for	ADP
ftr-493	206	12	certain	certain	ADJ
ftr-493	206	13	optional	optional	ADJ
ftr-493	206	14	methods	method	NOUN
ftr-493	206	15	for	for	ADP
ftr-493	206	16	amortizing	amortize	VERB
ftr-493	206	17	swap	swap	NOUN
ftr-493	206	18	,	,	PUNCT
ftr-493	206	19	cap	cap	NOUN
ftr-493	206	20	and	and	CCONJ
ftr-493	206	21	floor	floor	NOUN
ftr-493	206	22	premiums	premium	NOUN
ftr-493	206	23	in	in	ADP
ftr-493	206	24	the	the	DET
ftr-493	206	25	interest	interest	NOUN
ftr-493	206	26	of	of	ADP
ftr-493	206	27	"	"	PUNCT
ftr-493	206	28	simplicity	simplicity	NOUN
ftr-493	206	29	,	,	PUNCT
ftr-493	206	30	"	"	PUNCT
ftr-493	206	31	see	see	VERB
ftr-493	206	32	,	,	PUNCT
ftr-493	206	33	e.g.	e.g.	ADV
ftr-493	206	34	,	,	PUNCT
ftr-493	206	35	prop	prop	NOUN
ftr-493	206	36	.	.	PUNCT
ftr-493	206	37	regs	regs	PROPN
ftr-493	206	38	.	.	PUNCT
ftr-493	207	1	§	§	PROPN
ftr-493	207	2	1.446	1.446	NUM
ftr-493	207	3	-	-	SYM
ftr-493	207	4	3(e)(3)(ii)(d	3(e)(3)(ii)(d	NUM
ftr-493	207	5	)	)	PUNCT
ftr-493	207	6	,	,	PUNCT
ftr-493	207	7	this	this	DET
ftr-493	207	8	type	type	NOUN
ftr-493	207	9	of	of	ADP
ftr-493	207	10	"	"	PUNCT
ftr-493	207	11	simplicity	simplicity	NOUN
ftr-493	207	12	"	"	PUNCT
ftr-493	207	13	is	be	AUX
ftr-493	207	14	clearly	clearly	ADV
ftr-493	207	15	different	different	ADJ
ftr-493	207	16	than	than	ADP
ftr-493	207	17	the	the	DET
ftr-493	207	18	kind	kind	NOUN
ftr-493	207	19	envisioned	envision	VERB
ftr-493	207	20	by	by	ADP
ftr-493	207	21	congress	congress	PROPN
ftr-493	207	22	when	when	SCONJ
ftr-493	207	23	it	it	PRON
ftr-493	207	24	allowed	allow	VERB
ftr-493	207	25	investors	investor	NOUN
ftr-493	207	26	to	to	PART
ftr-493	207	27	defer	defer	VERB
ftr-493	207	28	the	the	DET
ftr-493	207	29	inclusion	inclusion	NOUN
ftr-493	207	30	of	of	ADP
ftr-493	207	31	market	market	NOUN
ftr-493	207	32	discount	discount	NOUN
ftr-493	207	33	in	in	ADP
ftr-493	207	34	income	income	NOUN
ftr-493	207	35	.	.	PUNCT
ftr-493	208	1	two	two	NUM
ftr-493	208	2	other	other	ADJ
ftr-493	208	3	points	point	NOUN
ftr-493	208	4	might	might	AUX
ftr-493	208	5	also	also	ADV
ftr-493	208	6	be	be	AUX
ftr-493	208	7	made	make	VERB
ftr-493	208	8	with	with	ADP
ftr-493	208	9	respect	respect	NOUN
ftr-493	208	10	to	to	ADP
ftr-493	208	11	the	the	DET
ftr-493	208	12	examples	example	NOUN
ftr-493	208	13	in	in	ADP
ftr-493	208	14	the	the	DET
ftr-493	208	15	text	text	NOUN
ftr-493	208	16	.	.	PUNCT
ftr-493	209	1	first	first	ADV
ftr-493	209	2	,	,	PUNCT
ftr-493	209	3	one	one	PRON
ftr-493	209	4	might	might	AUX
ftr-493	209	5	argue	argue	VERB
ftr-493	209	6	that	that	SCONJ
ftr-493	209	7	,	,	PUNCT
ftr-493	209	8	under	under	ADP
ftr-493	209	9	general	general	ADJ
ftr-493	209	10	principles	principle	NOUN
ftr-493	209	11	,	,	PUNCT
ftr-493	209	12	the	the	DET
ftr-493	209	13	right	right	NOUN
ftr-493	209	14	to	to	PART
ftr-493	209	15	claim	claim	VERB
ftr-493	209	16	the	the	DET
ftr-493	209	17	section	section	NOUN
ftr-493	209	18	103	103	NUM
ftr-493	209	19	exclusion	exclusion	NOUN
ftr-493	209	20	with	with	ADP
ftr-493	209	21	respect	respect	NOUN
ftr-493	209	22	to	to	ADP
ftr-493	209	23	the	the	DET
ftr-493	209	24	interest	interest	NOUN
ftr-493	209	25	on	on	ADP
ftr-493	209	26	the	the	DET
ftr-493	209	27	tax	tax	NOUN
ftr-493	209	28	-	-	PUNCT
ftr-493	209	29	exempt	exempt	ADJ
ftr-493	209	30	bond	bond	NOUN
ftr-493	209	31	inures	inure	VERB
ftr-493	209	32	to	to	ADP
ftr-493	209	33	a	a	DET
ftr-493	209	34	as	as	ADP
ftr-493	209	35	the	the	DET
ftr-493	209	36	(	(	PUNCT
ftr-493	209	37	tax	tax	NOUN
ftr-493	209	38	)	)	PUNCT
ftr-493	209	39	owner	owner	NOUN
ftr-493	209	40	of	of	ADP
ftr-493	209	41	that	that	DET
ftr-493	209	42	bond	bond	NOUN
ftr-493	209	43	.	.	PUNCT
ftr-493	210	1	by	by	ADP
ftr-493	210	2	entering	enter	VERB
ftr-493	210	3	into	into	ADP
ftr-493	210	4	the	the	DET
ftr-493	210	5	swap	swap	NOUN
ftr-493	210	6	a	a	PRON
ftr-493	210	7	has	have	AUX
ftr-493	210	8	not	not	PART
ftr-493	210	9	divested	divest	VERB
ftr-493	210	10	itself	itself	PRON
ftr-493	210	11	of	of	ADP
ftr-493	210	12	such	such	ADJ
ftr-493	210	13	ownership	ownership	NOUN
ftr-493	210	14	,	,	PUNCT
ftr-493	210	15	see	see	VERB
ftr-493	210	16	part	part	NOUN
ftr-493	210	17	ii(c)(2	ii(c)(2	NOUN
ftr-493	210	18	)	)	PUNCT
ftr-493	210	19	infra	infra	NOUN
ftr-493	210	20	;	;	PUNCT
ftr-493	210	21	taxing	tax	VERB
ftr-493	210	22	a	a	PRON
ftr-493	210	23	on	on	ADP
ftr-493	210	24	its	its	PRON
ftr-493	210	25	net	net	ADJ
ftr-493	210	26	economic	economic	ADJ
ftr-493	210	27	income	income	NOUN
ftr-493	210	28	from	from	ADP
ftr-493	210	29	the	the	DET
ftr-493	210	30	overall	overall	ADJ
ftr-493	210	31	tax	tax	NOUN
ftr-493	210	32	-	-	PUNCT
ftr-493	210	33	exempt	exempt	ADJ
ftr-493	210	34	bond	bond	NOUN
ftr-493	210	35	/	/	SYM
ftr-493	210	36	swap	swap	NOUN
ftr-493	210	37	transaction	transaction	NOUN
ftr-493	210	38	,	,	PUNCT
ftr-493	210	39	however	however	ADV
ftr-493	210	40	,	,	PUNCT
ftr-493	210	41	would	would	AUX
ftr-493	210	42	effectively	effectively	ADV
ftr-493	210	43	deny	deny	VERB
ftr-493	210	44	a	a	DET
ftr-493	210	45	the	the	DET
ftr-493	210	46	benefit	benefit	NOUN
ftr-493	210	47	of	of	ADP
ftr-493	210	48	the	the	DET
ftr-493	210	49	section	section	NOUN
ftr-493	210	50	103	103	NUM
ftr-493	210	51	exclusion	exclusion	NOUN
ftr-493	210	52	.	.	PUNCT
ftr-493	211	1	a	a	DET
ftr-493	211	2	similar	similar	ADJ
ftr-493	211	3	argument	argument	NOUN
ftr-493	211	4	might	might	AUX
ftr-493	211	5	be	be	AUX
ftr-493	211	6	made	make	VERB
ftr-493	211	7	with	with	ADP
ftr-493	211	8	respect	respect	NOUN
ftr-493	211	9	to	to	ADP
ftr-493	211	10	a	a	PRON
ftr-493	211	11	's	's	PART
ftr-493	211	12	right	right	NOUN
ftr-493	211	13	to	to	PART
ftr-493	211	14	continue	continue	VERB
ftr-493	211	15	deferring	defer	VERB
ftr-493	211	16	market	market	NOUN
ftr-493	211	17	discount	discount	NOUN
ftr-493	211	18	in	in	ADP
ftr-493	211	19	the	the	DET
ftr-493	211	20	market	market	NOUN
ftr-493	211	21	discount	discount	NOUN
ftr-493	211	22	bond	bond	NOUN
ftr-493	211	23	/	/	SYM
ftr-493	211	24	swap	swap	NOUN
ftr-493	211	25	example	example	NOUN
ftr-493	211	26	.	.	PUNCT
ftr-493	212	1	this	this	PRON
ftr-493	212	2	,	,	PUNCT
ftr-493	212	3	however	however	ADV
ftr-493	212	4	,	,	PUNCT
ftr-493	212	5	proves	prove	VERB
ftr-493	212	6	too	too	ADV
ftr-493	212	7	much	much	ADJ
ftr-493	212	8	.	.	PUNCT
ftr-493	213	1	for	for	ADP
ftr-493	213	2	example	example	NOUN
ftr-493	213	3	,	,	PUNCT
ftr-493	213	4	even	even	ADV
ftr-493	213	5	if	if	SCONJ
ftr-493	213	6	the	the	DET
ftr-493	213	7	owner	owner	NOUN
ftr-493	213	8	of	of	ADP
ftr-493	213	9	a	a	DET
ftr-493	213	10	tax	tax	NOUN
ftr-493	213	11	-	-	PUNCT
ftr-493	213	12	exempt	exempt	ADJ
ftr-493	213	13	bond	bond	NOUN
ftr-493	213	14	borrows	borrow	VERB
ftr-493	213	15	on	on	ADP
ftr-493	213	16	a	a	DET
ftr-493	213	17	fully	fully	ADV
ftr-493	213	18	recourse	recourse	NOUN
ftr-493	213	19	basis	basis	NOUN
ftr-493	213	20	,	,	PUNCT
ftr-493	213	21	so	so	SCONJ
ftr-493	213	22	that	that	SCONJ
ftr-493	213	23	it	it	PRON
ftr-493	213	24	is	be	AUX
ftr-493	213	25	unquestionable	unquestionable	ADJ
ftr-493	213	26	that	that	SCONJ
ftr-493	213	27	the	the	DET
ftr-493	213	28	investor	investor	NOUN
ftr-493	213	29	retains	retain	VERB
ftr-493	213	30	ownership	ownership	NOUN
ftr-493	213	31	of	of	ADP
ftr-493	213	32	the	the	DET
ftr-493	213	33	bond	bond	NOUN
ftr-493	213	34	,	,	PUNCT
ftr-493	213	35	section	section	NOUN
ftr-493	213	36	265(a)(2	265(a)(2	NOUN
ftr-493	213	37	)	)	PUNCT
ftr-493	213	38	operates	operate	VERB
ftr-493	213	39	to	to	PART
ftr-493	213	40	prevent	prevent	VERB
ftr-493	213	41	the	the	DET
ftr-493	213	42	owner	owner	NOUN
ftr-493	213	43	from	from	ADP
ftr-493	213	44	combining	combine	VERB
ftr-493	213	45	(	(	PUNCT
ftr-493	213	46	taxable	taxable	ADJ
ftr-493	213	47	)	)	PUNCT
ftr-493	213	48	interest	interest	NOUN
ftr-493	213	49	deductions	deduction	NOUN
ftr-493	213	50	with	with	ADP
ftr-493	213	51	tax	tax	NOUN
ftr-493	213	52	-	-	PUNCT
ftr-493	213	53	exempt	exempt	ADJ
ftr-493	213	54	interest	interest	NOUN
ftr-493	213	55	inclusions	inclusion	NOUN
ftr-493	213	56	to	to	PART
ftr-493	213	57	convert	convert	VERB
ftr-493	213	58	unrelated	unrelated	ADJ
ftr-493	213	59	taxable	taxable	ADJ
ftr-493	213	60	income	income	NOUN
ftr-493	213	61	into	into	ADP
ftr-493	213	62	tax	tax	NOUN
ftr-493	213	63	-	-	PUNCT
ftr-493	213	64	exempt	exempt	ADJ
ftr-493	213	65	interest	interest	NOUN
ftr-493	213	66	income	income	NOUN
ftr-493	213	67	.	.	PUNCT
ftr-493	214	1	second	second	ADJ
ftr-493	214	2	,	,	PUNCT
ftr-493	214	3	one	one	PRON
ftr-493	214	4	might	might	AUX
ftr-493	214	5	analogize	analogize	VERB
ftr-493	214	6	the	the	DET
ftr-493	214	7	combination	combination	NOUN
ftr-493	214	8	of	of	ADP
ftr-493	214	9	a	a	DET
ftr-493	214	10	bond	bond	NOUN
ftr-493	214	11	and	and	CCONJ
ftr-493	214	12	a	a	DET
ftr-493	214	13	swap	swap	NOUN
ftr-493	214	14	to	to	ADP
ftr-493	214	15	an	an	DET
ftr-493	214	16	interest	interest	NOUN
ftr-493	214	17	coupon	coupon	NOUN
ftr-493	214	18	stripping	strip	VERB
ftr-493	214	19	transaction	transaction	NOUN
ftr-493	214	20	under	under	ADP
ftr-493	214	21	section	section	NOUN
ftr-493	214	22	1286	1286	NUM
ftr-493	214	23	.	.	PUNCT
ftr-493	215	1	thus	thus	ADV
ftr-493	215	2	,	,	PUNCT
ftr-493	215	3	by	by	ADP
ftr-493	215	4	entering	enter	VERB
ftr-493	215	5	into	into	ADP
ftr-493	215	6	the	the	DET
ftr-493	215	7	swap	swap	NOUN
ftr-493	215	8	,	,	PUNCT
ftr-493	215	9	a	a	PRON
ftr-493	215	10	has	have	AUX
ftr-493	215	11	effectively	effectively	ADV
ftr-493	215	12	transferred	transfer	VERB
ftr-493	215	13	the	the	DET
ftr-493	215	14	economic	economic	ADJ
ftr-493	215	15	benefit	benefit	NOUN
ftr-493	215	16	of	of	ADP
ftr-493	215	17	the	the	DET
ftr-493	215	18	interest	interest	NOUN
ftr-493	215	19	coupons	coupon	NOUN
ftr-493	215	20	(	(	PUNCT
ftr-493	215	21	and	and	CCONJ
ftr-493	215	22	,	,	PUNCT
ftr-493	215	23	in	in	ADP
ftr-493	215	24	the	the	DET
ftr-493	215	25	market	market	NOUN
ftr-493	215	26	discount	discount	NOUN
ftr-493	215	27	bond	bond	NOUN
ftr-493	215	28	example	example	NOUN
ftr-493	215	29	,	,	PUNCT
ftr-493	215	30	the	the	DET
ftr-493	215	31	market	market	NOUN
ftr-493	215	32	discount	discount	NOUN
ftr-493	215	33	)	)	PUNCT
ftr-493	215	34	on	on	ADP
ftr-493	215	35	the	the	DET
ftr-493	215	36	bond	bond	NOUN
ftr-493	215	37	to	to	ADP
ftr-493	215	38	b.	b.	PROPN
ftr-493	215	39	(	(	PUNCT
ftr-493	215	40	this	this	PRON
ftr-493	215	41	is	be	AUX
ftr-493	215	42	not	not	PART
ftr-493	215	43	to	to	PART
ftr-493	215	44	say	say	VERB
ftr-493	215	45	,	,	PUNCT
ftr-493	215	46	however	however	ADV
ftr-493	215	47	,	,	PUNCT
ftr-493	215	48	that	that	SCONJ
ftr-493	215	49	the	the	DET
ftr-493	215	50	bond	bond	NOUN
ftr-493	215	51	/	/	SYM
ftr-493	215	52	swap	swap	NOUN
ftr-493	215	53	transactions	transaction	NOUN
ftr-493	215	54	are	be	AUX
ftr-493	215	55	tantamount	tantamount	ADJ
ftr-493	215	56	to	to	ADP
ftr-493	215	57	a	a	DET
ftr-493	215	58	stripping	strip	VERB
ftr-493	215	59	transaction	transaction	NOUN
ftr-493	215	60	.	.	PUNCT
ftr-493	216	1	they	they	PRON
ftr-493	216	2	are	be	AUX
ftr-493	216	3	not	not	PART
ftr-493	216	4	,	,	PUNCT
ftr-493	216	5	since	since	SCONJ
ftr-493	216	6	in	in	ADP
ftr-493	216	7	a	a	DET
ftr-493	216	8	stripping	strip	VERB
ftr-493	216	9	transaction	transaction	NOUN
ftr-493	216	10	,	,	PUNCT
ftr-493	216	11	unlike	unlike	ADP
ftr-493	216	12	a	a	DET
ftr-493	216	13	swap	swap	NOUN
ftr-493	216	14	transaction	transaction	NOUN
ftr-493	216	15	,	,	PUNCT
ftr-493	216	16	a	a	PRON
ftr-493	216	17	would	would	AUX
ftr-493	216	18	have	have	AUX
ftr-493	216	19	transferred	transfer	VERB
ftr-493	216	20	tax	tax	NOUN
ftr-493	216	21	ownership	ownership	NOUN
ftr-493	216	22	of	of	ADP
ftr-493	216	23	a	a	DET
ftr-493	216	24	portion	portion	NOUN
ftr-493	216	25	of	of	ADP
ftr-493	216	26	the	the	DET
ftr-493	216	27	bond	bond	NOUN
ftr-493	216	28	to	to	ADP
ftr-493	216	29	b.	b.	PROPN
ftr-493	216	30	cf	cf	PROPN
ftr-493	216	31	.	.	PUNCT
ftr-493	217	1	part	part	NOUN
ftr-493	217	2	it(c)(2	it(c)(2	NOUN
ftr-493	217	3	)	)	PUNCT
ftr-493	217	4	infra	infra	NOUN
ftr-493	217	5	.	.	PUNCT
ftr-493	217	6	)	)	PUNCT
ftr-493	218	1	in	in	ADP
ftr-493	218	2	that	that	DET
ftr-493	218	3	case	case	NOUN
ftr-493	218	4	,	,	PUNCT
ftr-493	218	5	however	however	ADV
ftr-493	218	6	,	,	PUNCT
ftr-493	218	7	section	section	NOUN
ftr-493	218	8	1286(d	1286(d	NUM
ftr-493	218	9	)	)	PUNCT
ftr-493	218	10	would	would	AUX
ftr-493	218	11	require	require	VERB
ftr-493	218	12	that	that	SCONJ
ftr-493	218	13	the	the	DET
ftr-493	218	14	section	section	NOUN
ftr-493	218	15	103	103	NUM
ftr-493	218	16	exclusion	exclusion	NOUN
ftr-493	218	17	be	be	AUX
ftr-493	218	18	split	split	VERB
ftr-493	218	19	between	between	ADP
ftr-493	218	20	the	the	DET
ftr-493	218	21	holder	holder	NOUN
ftr-493	218	22	of	of	ADP
ftr-493	218	23	the	the	DET
ftr-493	218	24	stripped	stripped	ADJ
ftr-493	218	25	coupons	coupon	NOUN
ftr-493	218	26	,	,	PUNCT
ftr-493	218	27	b	b	NOUN
ftr-493	218	28	,	,	PUNCT
ftr-493	218	29	and	and	CCONJ
ftr-493	218	30	the	the	DET
ftr-493	218	31	holder	holder	NOUN
ftr-493	218	32	of	of	ADP
ftr-493	218	33	the	the	DET
ftr-493	218	34	stripped	strip	VERB
ftr-493	218	35	principal	principal	NOUN
ftr-493	218	36	,	,	PUNCT
ftr-493	218	37	a.	a.	NOUN
ftr-493	218	38	in	in	ADP
ftr-493	218	39	the	the	DET
ftr-493	218	40	example	example	NOUN
ftr-493	218	41	in	in	ADP
ftr-493	218	42	the	the	DET
ftr-493	218	43	text	text	NOUN
ftr-493	218	44	,	,	PUNCT
ftr-493	218	45	however	however	ADV
ftr-493	218	46	,	,	PUNCT
ftr-493	218	47	a	a	PRON
ftr-493	218	48	has	have	AUX
ftr-493	218	49	been	be	AUX
ftr-493	218	50	able	able	ADJ
ftr-493	218	51	to	to	PART
ftr-493	218	52	retain	retain	VERB
ftr-493	218	53	100	100	NUM
ftr-493	218	54	%	%	NOUN
ftr-493	218	55	of	of	ADP
ftr-493	218	56	the	the	DET
ftr-493	218	57	tax	tax	NOUN
ftr-493	218	58	exemption	exemption	NOUN
ftr-493	218	59	.	.	PUNCT
ftr-493	219	1	similarly	similarly	ADV
ftr-493	219	2	,	,	PUNCT
ftr-493	219	3	the	the	DET
ftr-493	219	4	stripping	stripping	NOUN
ftr-493	219	5	of	of	ADP
ftr-493	219	6	a	a	DET
ftr-493	219	7	market	market	NOUN
ftr-493	219	8	discount	discount	NOUN
ftr-493	219	9	bond	bond	NOUN
ftr-493	219	10	converts	convert	NOUN
ftr-493	219	11	market	market	NOUN
ftr-493	219	12	discount	discount	NOUN
ftr-493	219	13	into	into	ADP
ftr-493	219	14	original	original	ADJ
ftr-493	219	15	issue	issue	NOUN
ftr-493	219	16	discount	discount	NOUN
ftr-493	219	17	and	and	CCONJ
ftr-493	219	18	therefore	therefore	ADV
ftr-493	219	19	eliminates	eliminate	VERB
ftr-493	219	20	the	the	DET
ftr-493	219	21	deferral	deferral	ADJ
ftr-493	219	22	possibilities	possibility	NOUN
ftr-493	219	23	.	.	PUNCT
ftr-493	220	1	see	see	VERB
ftr-493	220	2	irc	irc	PROPN
ftr-493	220	3	§	§	PROPN
ftr-493	220	4	1286(a	1286(a	NUM
ftr-493	220	5	)	)	PUNCT
ftr-493	220	6	(	(	PUNCT
ftr-493	220	7	treating	treat	VERB
ftr-493	220	8	stripped	strip	VERB
ftr-493	220	9	bond	bond	NOUN
ftr-493	220	10	as	as	SCONJ
ftr-493	220	11	newly	newly	ADV
ftr-493	220	12	issued	issue	VERB
ftr-493	220	13	on	on	ADP
ftr-493	220	14	purchase	purchase	NOUN
ftr-493	220	15	date	date	NOUN
ftr-493	220	16	for	for	ADP
ftr-493	220	17	purposes	purpose	NOUN
ftr-493	220	18	of	of	ADP
ftr-493	220	19	the	the	DET
ftr-493	220	20	original	original	ADJ
ftr-493	220	21	issue	issue	NOUN
ftr-493	220	22	discount	discount	NOUN
ftr-493	220	23	rules	rule	NOUN
ftr-493	220	24	)	)	PUNCT
ftr-493	220	25	.	.	PUNCT
ftr-493	221	1	[	[	X
ftr-493	221	2	vol	vol	NOUN
ftr-493	221	3	1:5	1:5	NUM
ftr-493	221	4	selected	select	VERB
ftr-493	221	5	issues	issue	NOUN
ftr-493	221	6	in	in	ADP
ftr-493	221	7	the	the	DET
ftr-493	221	8	taxation	taxation	NOUN
ftr-493	221	9	of	of	ADP
ftr-493	221	10	swaps	swap	NOUN
ftr-493	221	11	the	the	DET
ftr-493	221	12	transactions	transaction	NOUN
ftr-493	221	13	described	describe	VERB
ftr-493	221	14	above.3	above.3	PROPN
ftr-493	221	15	for	for	ADP
ftr-493	221	16	example	example	NOUN
ftr-493	221	17	,	,	PUNCT
ftr-493	221	18	section	section	NOUN
ftr-493	221	19	1277	1277	NUM
ftr-493	221	20	defers	defer	VERB
ftr-493	221	21	all	all	PRON
ftr-493	221	22	or	or	CCONJ
ftr-493	221	23	a	a	DET
ftr-493	221	24	portion	portion	NOUN
ftr-493	221	25	of	of	ADP
ftr-493	221	26	a	a	DET
ftr-493	221	27	taxpayer	taxpayer	NOUN
ftr-493	221	28	's	's	PART
ftr-493	221	29	interest	interest	NOUN
ftr-493	221	30	deduction	deduction	NOUN
ftr-493	221	31	with	with	ADP
ftr-493	221	32	respect	respect	NOUN
ftr-493	221	33	to	to	ADP
ftr-493	221	34	indebtedness	indebtedness	NOUN
ftr-493	221	35	incurred	incur	VERB
ftr-493	221	36	or	or	CCONJ
ftr-493	221	37	continued	continue	VERB
ftr-493	221	38	to	to	PART
ftr-493	221	39	acquire	acquire	VERB
ftr-493	221	40	or	or	CCONJ
ftr-493	221	41	carry	carry	VERB
ftr-493	221	42	a	a	DET
ftr-493	221	43	market	market	NOUN
ftr-493	221	44	discount	discount	NOUN
ftr-493	221	45	bond	bond	NOUN
ftr-493	221	46	.	.	PUNCT
ftr-493	222	1	the	the	DET
ftr-493	222	2	purpose	purpose	NOUN
ftr-493	222	3	of	of	ADP
ftr-493	222	4	this	this	DET
ftr-493	222	5	rule	rule	NOUN
ftr-493	222	6	is	be	AUX
ftr-493	222	7	to	to	PART
ftr-493	222	8	prevent	prevent	VERB
ftr-493	222	9	taxpayers	taxpayer	NOUN
ftr-493	222	10	from	from	ADP
ftr-493	222	11	converting	convert	VERB
ftr-493	222	12	unrelated	unrelated	ADJ
ftr-493	222	13	income	income	NOUN
ftr-493	222	14	into	into	ADP
ftr-493	222	15	tax	tax	NOUN
ftr-493	222	16	-	-	PUNCT
ftr-493	222	17	deferred	defer	VERB
ftr-493	222	18	market	market	NOUN
ftr-493	222	19	discount	discount	NOUN
ftr-493	222	20	income	income	NOUN
ftr-493	222	21	,	,	PUNCT
ftr-493	222	22	in	in	ADP
ftr-493	222	23	other	other	ADJ
ftr-493	222	24	words	word	NOUN
ftr-493	222	25	,	,	PUNCT
ftr-493	222	26	to	to	PART
ftr-493	222	27	prevent	prevent	VERB
ftr-493	222	28	tax	tax	NOUN
ftr-493	222	29	arbitrage	arbitrage	NOUN
ftr-493	222	30	.	.	PUNCT
ftr-493	222	31	"	"	PUNCT
ftr-493	223	1	interest	interest	NOUN
ftr-493	223	2	expense	expense	NOUN
ftr-493	223	3	for	for	ADP
ftr-493	223	4	this	this	DET
ftr-493	223	5	purpose	purpose	NOUN
ftr-493	223	6	includes	include	VERB
ftr-493	223	7	not	not	PART
ftr-493	223	8	only	only	ADV
ftr-493	223	9	interest	interest	NOUN
ftr-493	223	10	incurred	incur	VERB
ftr-493	223	11	on	on	ADP
ftr-493	223	12	borrowings	borrowing	NOUN
ftr-493	223	13	,	,	PUNCT
ftr-493	223	14	but	but	CCONJ
ftr-493	223	15	also	also	ADV
ftr-493	223	16	expenses	expense	VERB
ftr-493	223	17	attributable	attributable	ADJ
ftr-493	223	18	to	to	ADP
ftr-493	223	19	short	short	ADJ
ftr-493	223	20	sales.39	sales.39	PROPN
ftr-493	223	21	nevertheless	nevertheless	ADV
ftr-493	223	22	,	,	PUNCT
ftr-493	223	23	except	except	SCONJ
ftr-493	223	24	in	in	ADP
ftr-493	223	25	certain	certain	ADJ
ftr-493	223	26	unusual	unusual	ADJ
ftr-493	223	27	circumstances	circumstance	NOUN
ftr-493	223	28	,	,	PUNCT
ftr-493	223	29	'	'	PUNCT
ftr-493	223	30	expense	expense	NOUN
ftr-493	223	31	from	from	ADP
ftr-493	223	32	an	an	DET
ftr-493	223	33	interest	interest	NOUN
ftr-493	223	34	rate	rate	NOUN
ftr-493	223	35	swap	swap	NOUN
ftr-493	223	36	is	be	AUX
ftr-493	223	37	not	not	PART
ftr-493	223	38	generally	generally	ADV
ftr-493	223	39	considered	consider	VERB
ftr-493	223	40	to	to	PART
ftr-493	223	41	be	be	AUX
ftr-493	223	42	interest	interest	NOUN
ftr-493	223	43	for	for	ADP
ftr-493	223	44	purposes	purpose	NOUN
ftr-493	223	45	of	of	ADP
ftr-493	223	46	the	the	DET
ftr-493	223	47	code.4	code.4	PROPN
ftr-493	223	48	thus	thus	ADV
ftr-493	223	49	,	,	PUNCT
ftr-493	223	50	it	it	PRON
ftr-493	223	51	appears	appear	VERB
ftr-493	223	52	that	that	SCONJ
ftr-493	223	53	37	37	X
ftr-493	223	54	.	.	PUNCT
ftr-493	224	1	in	in	ADP
ftr-493	224	2	general	general	ADJ
ftr-493	224	3	,	,	PUNCT
ftr-493	224	4	any	any	DET
ftr-493	224	5	such	such	ADJ
ftr-493	224	6	transaction	transaction	NOUN
ftr-493	224	7	would	would	AUX
ftr-493	224	8	have	have	VERB
ftr-493	224	9	real	real	ADJ
ftr-493	224	10	non	non	ADJ
ftr-493	224	11	-	-	ADJ
ftr-493	224	12	tax	tax	ADJ
ftr-493	224	13	significance	significance	NOUN
ftr-493	224	14	.	.	PUNCT
ftr-493	225	1	thus	thus	ADV
ftr-493	225	2	,	,	PUNCT
ftr-493	225	3	it	it	PRON
ftr-493	225	4	is	be	AUX
ftr-493	225	5	hard	hard	ADJ
ftr-493	225	6	to	to	PART
ftr-493	225	7	see	see	VERB
ftr-493	225	8	how	how	SCONJ
ftr-493	225	9	the	the	DET
ftr-493	225	10	internal	internal	ADJ
ftr-493	225	11	revenue	revenue	NOUN
ftr-493	225	12	service	service	NOUN
ftr-493	225	13	(	(	PUNCT
ftr-493	225	14	the	the	DET
ftr-493	225	15	"	"	PUNCT
ftr-493	225	16	sen'ice	sen'ice	NOUN
ftr-493	225	17	"	"	PUNCT
ftr-493	225	18	)	)	PUNCT
ftr-493	225	19	could	could	AUX
ftr-493	225	20	challenge	challenge	VERB
ftr-493	225	21	these	these	DET
ftr-493	225	22	transactions	transaction	NOUN
ftr-493	225	23	on	on	ADP
ftr-493	225	24	"	"	PUNCT
ftr-493	225	25	substance	substance	NOUN
ftr-493	225	26	over	over	ADP
ftr-493	225	27	form	form	NOUN
ftr-493	225	28	,	,	PUNCT
ftr-493	225	29	"	"	PUNCT
ftr-493	225	30	"	"	PUNCT
ftr-493	225	31	sham	sham	ADJ
ftr-493	225	32	transaction	transaction	NOUN
ftr-493	225	33	"	"	PUNCT
ftr-493	225	34	or	or	CCONJ
ftr-493	225	35	"	"	PUNCT
ftr-493	225	36	step	step	NOUN
ftr-493	225	37	transaction	transaction	NOUN
ftr-493	225	38	"	"	PUNCT
ftr-493	225	39	grounds	ground	NOUN
ftr-493	225	40	,	,	PUNCT
ftr-493	225	41	or	or	CCONJ
ftr-493	225	42	on	on	ADP
ftr-493	225	43	the	the	DET
ftr-493	225	44	basis	basis	NOUN
ftr-493	225	45	that	that	SCONJ
ftr-493	225	46	they	they	PRON
ftr-493	225	47	lacked	lack	VERB
ftr-493	225	48	bona	bona	ADJ
ftr-493	225	49	fide	fide	ADJ
ftr-493	225	50	business	business	NOUN
ftr-493	225	51	purposes	purpose	NOUN
ftr-493	225	52	or	or	CCONJ
ftr-493	225	53	a	a	DET
ftr-493	225	54	profit	profit	NOUN
ftr-493	225	55	-	-	PUNCT
ftr-493	225	56	making	make	VERB
ftr-493	225	57	potential	potential	NOUN
ftr-493	225	58	.	.	PUNCT
ftr-493	226	1	38	38	NUM
ftr-493	226	2	.	.	PUNCT
ftr-493	227	1	h.r	h.r	PROPN
ftr-493	227	2	.	.	PROPN
ftr-493	227	3	rep	rep	PROPN
ftr-493	227	4	.	.	PROPN
ftr-493	228	1	no	no	INTJ
ftr-493	228	2	.	.	NOUN
ftr-493	228	3	432	432	NUM
ftr-493	228	4	,	,	PUNCT
ftr-493	228	5	supra	supra	PROPN
ftr-493	228	6	note	note	NOUN
ftr-493	228	7	35	35	NUM
ftr-493	228	8	.	.	NOUN
ftr-493	228	9	39	39	NUM
ftr-493	228	10	.	.	PUNCT
ftr-493	229	1	irc	irc	PROPN
ftr-493	229	2	§	§	PROPN
ftr-493	229	3	1277(c	1277(c	NUM
ftr-493	229	4	)	)	PUNCT
ftr-493	229	5	.	.	PUNCT
ftr-493	230	1	40	40	NUM
ftr-493	230	2	.	.	PUNCT
ftr-493	231	1	see	see	VERB
ftr-493	231	2	,	,	PUNCT
ftr-493	231	3	e.g.	e.g.	ADV
ftr-493	231	4	,	,	PUNCT
ftr-493	231	5	prop	prop	NOUN
ftr-493	231	6	.	.	PUNCT
ftr-493	231	7	regs	regs	PROPN
ftr-493	231	8	.	.	PUNCT
ftr-493	232	1	§	§	PROPN
ftr-493	232	2	1.446	1.446	NUM
ftr-493	232	3	-	-	SYM
ftr-493	232	4	3(e)(4)(iii	3(e)(4)(iii	NUM
ftr-493	232	5	)	)	PUNCT
ftr-493	232	6	,	,	PUNCT
ftr-493	232	7	56	56	NUM
ftr-493	232	8	fed	feed	VERB
ftr-493	232	9	.	.	PUNCT
ftr-493	233	1	reg	reg	PROPN
ftr-493	233	2	.	.	PUNCT
ftr-493	234	1	31.350	31.350	NUM
ftr-493	234	2	(	(	PUNCT
ftr-493	234	3	1991	1991	NUM
ftr-493	234	4	)	)	PUNCT
ftr-493	234	5	(	(	PUNCT
ftr-493	234	6	dealing	deal	VERB
ftr-493	234	7	with	with	ADP
ftr-493	234	8	swaps	swap	NOUN
ftr-493	234	9	having	have	VERB
ftr-493	234	10	"	"	PUNCT
ftr-493	234	11	significant	significant	ADJ
ftr-493	234	12	nonperiodic	nonperiodic	ADJ
ftr-493	234	13	payments	payment	NOUN
ftr-493	234	14	"	"	PUNCT
ftr-493	234	15	that	that	PRON
ftr-493	234	16	are	be	AUX
ftr-493	234	17	treated	treat	VERB
ftr-493	234	18	as	as	ADP
ftr-493	234	19	having	have	VERB
ftr-493	234	20	"	"	PUNCT
ftr-493	234	21	embedded	embed	VERB
ftr-493	234	22	loans	loan	NOUN
ftr-493	234	23	"	"	PUNCT
ftr-493	234	24	)	)	PUNCT
ftr-493	234	25	;	;	PUNCT
ftr-493	235	1	cf	cf	X
ftr-493	235	2	.	.	PUNCT
ftr-493	235	3	regs	regs	PROPN
ftr-493	235	4	.	.	PUNCT
ftr-493	236	1	§	§	PROPN
ftr-493	236	2	1.861	1.861	NUM
ftr-493	236	3	-	-	PUNCT
ftr-493	236	4	9t(b	9t(b	NUM
ftr-493	236	5	)	)	PUNCT
ftr-493	236	6	(	(	PUNCT
ftr-493	236	7	dealing	deal	VERB
ftr-493	236	8	with	with	ADP
ftr-493	236	9	interest	interest	NOUN
ftr-493	236	10	equivalents	equivalent	NOUN
ftr-493	236	11	for	for	ADP
ftr-493	236	12	purposes	purpose	NOUN
ftr-493	236	13	of	of	ADP
ftr-493	236	14	calculating	calculate	VERB
ftr-493	236	15	domestic	domestic	ADJ
ftr-493	236	16	and	and	CCONJ
ftr-493	236	17	foreign	foreign	ADJ
ftr-493	236	18	source	source	NOUN
ftr-493	236	19	interest	interest	NOUN
ftr-493	236	20	expense	expense	NOUN
ftr-493	236	21	)	)	PUNCT
ftr-493	236	22	.	.	PUNCT
ftr-493	237	1	41	41	NUM
ftr-493	237	2	.	.	PUNCT
ftr-493	238	1	for	for	ADP
ftr-493	238	2	example	example	NOUN
ftr-493	238	3	,	,	PUNCT
ftr-493	238	4	the	the	DET
ftr-493	238	5	preamble	preamble	NOUN
ftr-493	238	6	to	to	ADP
ftr-493	238	7	proposed	propose	VERB
ftr-493	238	8	regulations	regulation	NOUN
ftr-493	238	9	section	section	NOUN
ftr-493	238	10	1.446	1.446	NUM
ftr-493	238	11	-	-	SYM
ftr-493	238	12	3	3	NUM
ftr-493	238	13	.	.	NUM
ftr-493	238	14	56	56	NUM
ftr-493	238	15	fed	fed	PROPN
ftr-493	238	16	.	.	PUNCT
ftr-493	239	1	reg	reg	PROPN
ftr-493	239	2	.	.	PUNCT
ftr-493	240	1	31,350	31,350	NUM
ftr-493	240	2	(	(	PUNCT
ftr-493	240	3	1991	1991	NUM
ftr-493	240	4	)	)	PUNCT
ftr-493	240	5	,	,	PUNCT
ftr-493	240	6	states	state	VERB
ftr-493	240	7	that	that	SCONJ
ftr-493	240	8	"	"	PUNCT
ftr-493	240	9	[	[	X
ftr-493	240	10	blecause	blecause	NOUN
ftr-493	240	11	the	the	DET
ftr-493	240	12	notional	notional	ADJ
ftr-493	240	13	principal	principal	ADJ
ftr-493	240	14	amount	amount	NOUN
ftr-493	240	15	is	be	AUX
ftr-493	240	16	not	not	PART
ftr-493	240	17	exchanged	exchange	VERB
ftr-493	240	18	by	by	ADP
ftr-493	240	19	the	the	DET
ftr-493	240	20	parties	party	NOUN
ftr-493	240	21	,	,	PUNCT
ftr-493	240	22	the	the	DET
ftr-493	240	23	payments	payment	NOUN
ftr-493	240	24	due	due	ADJ
ftr-493	240	25	under	under	ADP
ftr-493	240	26	a	a	DET
ftr-493	240	27	typical	typical	ADJ
ftr-493	240	28	interest	interest	NOUN
ftr-493	240	29	rate	rate	NOUN
ftr-493	240	30	swap	swap	NOUN
ftr-493	240	31	,	,	PUNCT
ftr-493	240	32	cap	cap	NOUN
ftr-493	240	33	.	.	PUNCT
ftr-493	241	1	or	or	CCONJ
ftr-493	241	2	floor	floor	NOUN
ftr-493	241	3	are	be	AUX
ftr-493	241	4	not	not	PART
ftr-493	241	5	compensation	compensation	NOUN
ftr-493	241	6	for	for	ADP
ftr-493	241	7	the	the	DET
ftr-493	241	8	use	use	NOUN
ftr-493	241	9	or	or	CCONJ
ftr-493	241	10	forbearance	forbearance	NOUN
ftr-493	241	11	of	of	ADP
ftr-493	241	12	money	money	NOUN
ftr-493	241	13	and	and	CCONJ
ftr-493	241	14	therefore	therefore	ADV
ftr-493	241	15	are	be	AUX
ftr-493	241	16	not	not	PART
ftr-493	241	17	'	'	PUNCT
ftr-493	241	18	interest	interest	NOUN
ftr-493	241	19	'	'	PUNCT
ftr-493	241	20	.	.	PUNCT
ftr-493	241	21	"	"	PUNCT
ftr-493	242	1	it	it	PRON
ftr-493	242	2	is	be	AUX
ftr-493	242	3	possible	possible	ADJ
ftr-493	242	4	,	,	PUNCT
ftr-493	242	5	however	however	ADV
ftr-493	242	6	,	,	PUNCT
ftr-493	242	7	that	that	SCONJ
ftr-493	242	8	$	$	SYM
ftr-493	242	9	4.13	4.13	NUM
ftr-493	242	10	of	of	ADP
ftr-493	242	11	a	a	PRON
ftr-493	242	12	's	's	PART
ftr-493	242	13	year	year	NOUN
ftr-493	242	14	2	2	NUM
ftr-493	242	15	payments	payment	NOUN
ftr-493	242	16	(	(	PUNCT
ftr-493	242	17	10	10	NUM
ftr-493	242	18	%	%	NOUN
ftr-493	242	19	of	of	ADP
ftr-493	242	20	the	the	DET
ftr-493	242	21	$	$	SYM
ftr-493	242	22	41.32	41.32	NUM
ftr-493	242	23	obligation	obligation	NOUN
ftr-493	242	24	accrued	accrue	VERB
ftr-493	242	25	in	in	ADP
ftr-493	242	26	year	year	NOUN
ftr-493	242	27	1	1	NUM
ftr-493	242	28	but	but	CCONJ
ftr-493	242	29	not	not	PART
ftr-493	242	30	paid	pay	VERB
ftr-493	242	31	until	until	ADP
ftr-493	242	32	year	year	NOUN
ftr-493	242	33	2	2	NUM
ftr-493	242	34	)	)	PUNCT
ftr-493	242	35	could	could	AUX
ftr-493	242	36	be	be	AUX
ftr-493	242	37	recharacterized	recharacterize	VERB
ftr-493	242	38	as	as	ADP
ftr-493	242	39	interest	interest	NOUN
ftr-493	242	40	.	.	PUNCT
ftr-493	243	1	see	see	VERB
ftr-493	243	2	prop	prop	NOUN
ftr-493	243	3	.	.	PUNCT
ftr-493	244	1	regs	regs	PROPN
ftr-493	244	2	.	.	PUNCT
ftr-493	245	1	§	§	PROPN
ftr-493	245	2	1.446	1.446	NUM
ftr-493	245	3	-	-	SYM
ftr-493	245	4	3(e)(4)(iii	3(e)(4)(iii	NUM
ftr-493	245	5	)	)	PUNCT
ftr-493	245	6	.	.	PUNCT
ftr-493	246	1	furthermore	furthermore	ADV
ftr-493	246	2	,	,	PUNCT
ftr-493	246	3	the	the	PRON
ftr-493	246	4	longer	long	ADJ
ftr-493	246	5	the	the	DET
ftr-493	246	6	term	term	NOUN
ftr-493	246	7	of	of	ADP
ftr-493	246	8	the	the	DET
ftr-493	246	9	deferred	defer	VERB
ftr-493	246	10	coupon	coupon	NOUN
ftr-493	246	11	swap	swap	NOUN
ftr-493	246	12	and	and	CCONJ
ftr-493	246	13	therefore	therefore	ADV
ftr-493	246	14	the	the	PRON
ftr-493	246	15	greater	great	ADJ
ftr-493	246	16	the	the	DET
ftr-493	246	17	amount	amount	NOUN
ftr-493	246	18	that	that	PRON
ftr-493	246	19	is	be	AUX
ftr-493	246	20	deferred	defer	VERB
ftr-493	246	21	and	and	CCONJ
ftr-493	246	22	the	the	DET
ftr-493	246	23	period	period	NOUN
ftr-493	246	24	of	of	ADP
ftr-493	246	25	deferral	deferral	NOUN
ftr-493	246	26	,	,	PUNCT
ftr-493	246	27	the	the	PRON
ftr-493	246	28	greater	great	ADJ
ftr-493	246	29	the	the	DET
ftr-493	246	30	amount	amount	NOUN
ftr-493	246	31	that	that	PRON
ftr-493	246	32	could	could	AUX
ftr-493	246	33	be	be	AUX
ftr-493	246	34	recharacterized	recharacterize	VERB
ftr-493	246	35	as	as	ADP
ftr-493	246	36	interest	interest	NOUN
ftr-493	246	37	.	.	PUNCT
ftr-493	247	1	nevertheless	nevertheless	ADV
ftr-493	247	2	,	,	PUNCT
ftr-493	247	3	depending	depend	VERB
ftr-493	247	4	on	on	ADP
ftr-493	247	5	the	the	DET
ftr-493	247	6	circumstances	circumstance	NOUN
ftr-493	247	7	,	,	PUNCT
ftr-493	247	8	any	any	DET
ftr-493	247	9	such	such	ADJ
ftr-493	247	10	recharacterization	recharacterization	NOUN
ftr-493	247	11	might	might	AUX
ftr-493	247	12	not	not	PART
ftr-493	247	13	have	have	VERB
ftr-493	247	14	a	a	DET
ftr-493	247	15	material	material	ADJ
ftr-493	247	16	effect	effect	NOUN
ftr-493	247	17	on	on	ADP
ftr-493	247	18	the	the	DET
ftr-493	247	19	overall	overall	ADJ
ftr-493	247	20	transaction	transaction	NOUN
ftr-493	247	21	.	.	PUNCT
ftr-493	248	1	section	section	NOUN
ftr-493	248	2	1277	1277	NUM
ftr-493	248	3	only	only	ADV
ftr-493	248	4	defers	defer	VERB
ftr-493	248	5	a	a	DET
ftr-493	248	6	deduction	deduction	NOUN
ftr-493	248	7	with	with	ADP
ftr-493	248	8	respect	respect	NOUN
ftr-493	248	9	to	to	ADP
ftr-493	248	10	the	the	DET
ftr-493	248	11	"	"	PUNCT
ftr-493	248	12	net	net	ADJ
ftr-493	248	13	direct	direct	ADJ
ftr-493	248	14	interest	interest	NOUN
ftr-493	248	15	expense	expense	NOUN
ftr-493	248	16	"	"	PUNCT
ftr-493	248	17	with	with	ADP
ftr-493	248	18	respect	respect	NOUN
ftr-493	248	19	to	to	ADP
ftr-493	248	20	a	a	DET
ftr-493	248	21	market	market	NOUN
ftr-493	248	22	discount	discount	NOUN
ftr-493	248	23	bond	bond	NOUN
ftr-493	248	24	.	.	PUNCT
ftr-493	249	1	the	the	DET
ftr-493	249	2	net	net	ADJ
ftr-493	249	3	direct	direct	ADJ
ftr-493	249	4	interest	interest	NOUN
ftr-493	249	5	expense	expense	NOUN
ftr-493	249	6	is	be	AUX
ftr-493	249	7	the	the	DET
ftr-493	249	8	excess	excess	ADJ
ftr-493	249	9	,	,	PUNCT
ftr-493	249	10	if	if	SCONJ
ftr-493	249	11	any	any	PRON
ftr-493	249	12	,	,	PUNCT
ftr-493	249	13	of	of	ADP
ftr-493	249	14	(	(	PUNCT
ftr-493	249	15	i	i	NOUN
ftr-493	249	16	)	)	PUNCT
ftr-493	249	17	the	the	DET
ftr-493	249	18	amount	amount	NOUN
ftr-493	249	19	of	of	ADP
ftr-493	249	20	interest	interest	NOUN
ftr-493	249	21	paid	pay	VERB
ftr-493	249	22	or	or	CCONJ
ftr-493	249	23	accrued	accrue	VERB
ftr-493	249	24	during	during	ADP
ftr-493	249	25	a	a	DET
ftr-493	249	26	taxable	taxable	ADJ
ftr-493	249	27	year	year	NOUN
ftr-493	249	28	on	on	ADP
ftr-493	249	29	indebtedness	indebtedness	NOUN
ftr-493	249	30	incurred	incur	VERB
ftr-493	249	31	or	or	CCONJ
ftr-493	249	32	continued	continue	VERB
ftr-493	249	33	to	to	PART
ftr-493	249	34	purchase	purchase	VERB
ftr-493	249	35	or	or	CCONJ
ftr-493	249	36	carry	carry	VERB
ftr-493	249	37	the	the	DET
ftr-493	249	38	bond	bond	NOUN
ftr-493	249	39	over	over	ADP
ftr-493	249	40	(	(	PUNCT
ftr-493	249	41	ii	ii	NOUN
ftr-493	249	42	)	)	PUNCT
ftr-493	249	43	the	the	DET
ftr-493	249	44	aggregate	aggregate	ADJ
ftr-493	249	45	amount	amount	NOUN
ftr-493	249	46	of	of	ADP
ftr-493	249	47	interest	interest	NOUN
ftr-493	249	48	.	.	PUNCT
ftr-493	250	1	including	include	VERB
ftr-493	250	2	original	original	ADJ
ftr-493	250	3	issue	issue	NOUN
ftr-493	250	4	discount	discount	NOUN
ftr-493	250	5	,	,	PUNCT
ftr-493	250	6	includable	includable	ADJ
ftr-493	250	7	in	in	ADP
ftr-493	250	8	gross	gross	ADJ
ftr-493	250	9	income	income	NOUN
ftr-493	250	10	for	for	ADP
ftr-493	250	11	the	the	DET
ftr-493	250	12	taxable	taxable	ADJ
ftr-493	250	13	year	year	NOUN
ftr-493	250	14	with	with	ADP
ftr-493	250	15	respect	respect	NOUN
ftr-493	250	16	to	to	ADP
ftr-493	250	17	the	the	DET
ftr-493	250	18	bond	bond	NOUN
ftr-493	250	19	.	.	PUNCT
ftr-493	251	1	irc	irc	PROPN
ftr-493	251	2	§	§	PROPN
ftr-493	251	3	1277(c	1277(c	NUM
ftr-493	251	4	)	)	PUNCT
ftr-493	251	5	.	.	PUNCT
ftr-493	252	1	only	only	ADV
ftr-493	252	2	the	the	DET
ftr-493	252	3	portion	portion	NOUN
ftr-493	252	4	of	of	ADP
ftr-493	252	5	the	the	DET
ftr-493	252	6	swap	swap	NOUN
ftr-493	252	7	payments	payment	NOUN
ftr-493	252	8	recharacterized	recharacterize	VERB
ftr-493	252	9	as	as	SCONJ
ftr-493	252	10	interest	interest	NOUN
ftr-493	252	11	would	would	AUX
ftr-493	252	12	be	be	AUX
ftr-493	252	13	taken	take	VERB
ftr-493	252	14	into	into	ADP
ftr-493	252	15	account	account	NOUN
ftr-493	252	16	for	for	ADP
ftr-493	252	17	purposes	purpose	NOUN
ftr-493	252	18	of	of	ADP
ftr-493	252	19	clause	clause	NOUN
ftr-493	252	20	(	(	PUNCT
ftr-493	252	21	i	i	NOUN
ftr-493	252	22	)	)	PUNCT
ftr-493	252	23	,	,	PUNCT
ftr-493	252	24	while	while	SCONJ
ftr-493	252	25	the	the	DET
ftr-493	252	26	full	full	ADJ
ftr-493	252	27	amount	amount	NOUN
ftr-493	252	28	of	of	ADP
ftr-493	252	29	coupon	coupon	NOUN
ftr-493	252	30	interest	interest	NOUN
ftr-493	252	31	and	and	CCONJ
ftr-493	252	32	original	original	ADJ
ftr-493	252	33	issue	issue	NOUN
ftr-493	252	34	discount	discount	NOUN
ftr-493	252	35	on	on	ADP
ftr-493	252	36	the	the	DET
ftr-493	252	37	bond	bond	NOUN
ftr-493	252	38	would	would	AUX
ftr-493	252	39	be	be	AUX
ftr-493	252	40	taken	take	VERB
ftr-493	252	41	into	into	ADP
ftr-493	252	42	account	account	NOUN
ftr-493	252	43	for	for	ADP
ftr-493	252	44	purposes	purpose	NOUN
ftr-493	252	45	of	of	ADP
ftr-493	252	46	clause	clause	NOUN
ftr-493	252	47	(	(	PUNCT
ftr-493	252	48	ii	ii	NOUN
ftr-493	252	49	)	)	PUNCT
ftr-493	252	50	.	.	PUNCT
ftr-493	253	1	for	for	ADP
ftr-493	253	2	example	example	NOUN
ftr-493	253	3	,	,	PUNCT
ftr-493	253	4	assuming	assume	VERB
ftr-493	253	5	a	a	DET
ftr-493	253	6	market	market	NOUN
ftr-493	253	7	discount	discount	NOUN
ftr-493	253	8	bond	bond	NOUN
ftr-493	253	9	paying	pay	VERB
ftr-493	253	10	interest	interest	NOUN
ftr-493	253	11	of	of	ADP
ftr-493	253	12	$	$	SYM
ftr-493	253	13	50	50	NUM
ftr-493	253	14	per	per	ADP
ftr-493	253	15	year	year	NOUN
ftr-493	253	16	,	,	PUNCT
ftr-493	253	17	swap	swap	ADJ
ftr-493	253	18	expense	expense	NOUN
ftr-493	253	19	recharacterized	recharacterize	VERB
ftr-493	253	20	as	as	SCONJ
ftr-493	253	21	interest	interest	NOUN
ftr-493	253	22	would	would	AUX
ftr-493	253	23	be	be	AUX
ftr-493	253	24	limited	limit	VERB
ftr-493	253	25	only	only	ADV
ftr-493	253	26	to	to	ADP
ftr-493	253	27	the	the	DET
ftr-493	253	28	extent	extent	NOUN
ftr-493	253	29	it	it	PRON
ftr-493	253	30	exceeded	exceed	VERB
ftr-493	253	31	$	$	SYM
ftr-493	253	32	50	50	NUM
ftr-493	253	33	in	in	ADP
ftr-493	253	34	any	any	DET
ftr-493	253	35	given	give	VERB
ftr-493	253	36	year	year	NOUN
ftr-493	253	37	.	.	PUNCT
ftr-493	254	1	however	however	ADV
ftr-493	254	2	,	,	PUNCT
ftr-493	254	3	assuming	assume	VERB
ftr-493	254	4	deferred	deferred	ADJ
ftr-493	254	5	amounts	amount	NOUN
ftr-493	254	6	under	under	ADP
ftr-493	254	7	the	the	DET
ftr-493	254	8	swap	swap	NOUN
ftr-493	254	9	compound	compound	NOUN
ftr-493	254	10	at	at	ADP
ftr-493	254	11	a	a	DET
ftr-493	254	12	10	10	NUM
ftr-493	254	13	%	%	NOUN
ftr-493	254	14	(	(	PUNCT
ftr-493	254	15	pre	pre	ADJ
ftr-493	254	16	-	-	ADJ
ftr-493	254	17	tax	tax	ADJ
ftr-493	254	18	)	)	PUNCT
ftr-493	254	19	yield	yield	NOUN
ftr-493	254	20	,	,	PUNCT
ftr-493	254	21	this	this	PRON
ftr-493	254	22	would	would	AUX
ftr-493	254	23	only	only	ADV
ftr-493	254	24	occur	occur	VERB
ftr-493	254	25	if	if	SCONJ
ftr-493	254	26	and	and	CCONJ
ftr-493	254	27	to	to	ADP
ftr-493	254	28	the	the	DET
ftr-493	254	29	extent	extent	NOUN
ftr-493	254	30	the	the	DET
ftr-493	254	31	aggregate	aggregate	NOUN
ftr-493	254	32	of	of	ADP
ftr-493	254	33	the	the	DET
ftr-493	254	34	amounts	amount	NOUN
ftr-493	254	35	deferred	defer	VERB
ftr-493	254	36	under	under	ADP
ftr-493	254	37	the	the	DET
ftr-493	254	38	swap	swap	NOUN
ftr-493	254	39	in	in	ADP
ftr-493	254	40	earlier	early	ADJ
ftr-493	254	41	years	year	NOUN
ftr-493	254	42	exceeded	exceed	VERB
ftr-493	254	43	$	$	SYM
ftr-493	254	44	500	500	NUM
ftr-493	254	45	.	.	PUNCT
ftr-493	255	1	second	second	ADJ
ftr-493	255	2	.	.	PUNCT
ftr-493	256	1	particularly	particularly	ADV
ftr-493	256	2	given	give	VERB
ftr-493	256	3	the	the	DET
ftr-493	256	4	separate	separate	ADJ
ftr-493	256	5	(	(	PUNCT
ftr-493	256	6	nonintegrated	nonintegrated	ADJ
ftr-493	256	7	)	)	PUNCT
ftr-493	256	8	treatment	treatment	NOUN
ftr-493	256	9	of	of	ADP
ftr-493	256	10	the	the	DET
ftr-493	256	11	swap	swap	NOUN
ftr-493	256	12	and	and	CCONJ
ftr-493	256	13	the	the	DET
ftr-493	256	14	bond	bond	NOUN
ftr-493	256	15	for	for	ADP
ftr-493	256	16	tax	tax	NOUN
ftr-493	256	17	purposes	purpose	NOUN
ftr-493	256	18	.	.	PUNCT
ftr-493	257	1	it	it	PRON
ftr-493	257	2	is	be	AUX
ftr-493	257	3	far	far	ADV
ftr-493	257	4	from	from	ADP
ftr-493	257	5	clear	clear	ADJ
ftr-493	257	6	that	that	SCONJ
ftr-493	257	7	swap	swap	ADJ
ftr-493	257	8	expense	expense	NOUN
ftr-493	257	9	recharacterized	recharacterize	VERB
ftr-493	257	10	as	as	SCONJ
ftr-493	257	11	interest	interest	NOUN
ftr-493	257	12	would	would	AUX
ftr-493	257	13	be	be	AUX
ftr-493	257	14	considered	consider	VERB
ftr-493	257	15	attributable	attributable	ADJ
ftr-493	257	16	to	to	ADP
ftr-493	257	17	indebtedness	indebtedness	NOUN
ftr-493	257	18	incurred	incur	VERB
ftr-493	257	19	or	or	CCONJ
ftr-493	257	20	continued	continue	VERB
ftr-493	257	21	to	to	PART
ftr-493	257	22	purchase	purchase	VERB
ftr-493	257	23	or	or	CCONJ
ftr-493	257	24	carry	carry	VERB
ftr-493	257	25	the	the	DET
ftr-493	257	26	market	market	NOUN
ftr-493	257	27	discount	discount	NOUN
ftr-493	257	28	bond	bond	NOUN
ftr-493	257	29	.	.	PUNCT
ftr-493	258	1	rather	rather	ADV
ftr-493	258	2	,	,	PUNCT
ftr-493	258	3	one	one	PRON
ftr-493	258	4	might	might	AUX
ftr-493	258	5	view	view	VERB
ftr-493	258	6	these	these	DET
ftr-493	258	7	amounts	amount	NOUN
ftr-493	258	8	as	as	ADP
ftr-493	258	9	attributable	attributable	ADJ
ftr-493	258	10	to	to	ADP
ftr-493	258	11	loans	loan	NOUN
ftr-493	258	12	by	by	ADP
ftr-493	258	13	b	b	PROPN
ftr-493	258	14	to	to	ADP
ftr-493	258	15	a	a	PRON
ftr-493	258	16	with	with	ADP
ftr-493	258	17	respect	respect	NOUN
ftr-493	258	18	to	to	ADP
ftr-493	258	19	the	the	DET
ftr-493	258	20	swap	swap	NOUN
ftr-493	258	21	.	.	PUNCT
ftr-493	259	1	19931	19931	NUM
ftr-493	259	2	florida	florida	PROPN
ftr-493	259	3	tax	tax	PROPN
ftr-493	259	4	review	review	NOUN
ftr-493	259	5	section	section	NOUN
ftr-493	259	6	1277	1277	NUM
ftr-493	259	7	does	do	AUX
ftr-493	259	8	not	not	PART
ftr-493	259	9	apply	apply	VERB
ftr-493	259	10	to	to	PART
ftr-493	259	11	defer	defer	VERB
ftr-493	259	12	a	a	DET
ftr-493	259	13	's	's	PART
ftr-493	259	14	deduction	deduction	NOUN
ftr-493	259	15	for	for	ADP
ftr-493	259	16	the	the	DET
ftr-493	259	17	fixed	fix	VERB
ftr-493	259	18	payments	payment	NOUN
ftr-493	259	19	under	under	ADP
ftr-493	259	20	the	the	DET
ftr-493	259	21	interest	interest	NOUN
ftr-493	259	22	rate	rate	NOUN
ftr-493	259	23	swap	swap	NOUN
ftr-493	259	24	in	in	ADP
ftr-493	259	25	the	the	DET
ftr-493	259	26	example	example	NOUN
ftr-493	259	27	.	.	PUNCT
ftr-493	260	1	alternatively	alternatively	ADV
ftr-493	260	2	,	,	PUNCT
ftr-493	260	3	perhaps	perhaps	ADV
ftr-493	260	4	the	the	DET
ftr-493	260	5	straddle	straddle	ADJ
ftr-493	260	6	rules	rule	NOUN
ftr-493	260	7	of	of	ADP
ftr-493	260	8	section	section	NOUN
ftr-493	260	9	1092	1092	NUM
ftr-493	260	10	apply	apply	VERB
ftr-493	260	11	.	.	PUNCT
ftr-493	261	1	the	the	DET
ftr-493	261	2	straddle	straddle	NOUN
ftr-493	261	3	rules	rule	NOUN
ftr-493	261	4	were	be	AUX
ftr-493	261	5	enacted	enact	VERB
ftr-493	261	6	in	in	ADP
ftr-493	261	7	1981	1981	NUM
ftr-493	261	8	in	in	ADP
ftr-493	261	9	order	order	NOUN
ftr-493	261	10	to	to	PART
ftr-493	261	11	stop	stop	VERB
ftr-493	261	12	certain	certain	ADJ
ftr-493	261	13	tax	tax	NOUN
ftr-493	261	14	-	-	PUNCT
ftr-493	261	15	motivated	motivate	VERB
ftr-493	261	16	straddle	straddle	NOUN
ftr-493	261	17	transactions	transaction	NOUN
ftr-493	261	18	.	.	PUNCT
ftr-493	262	1	these	these	DET
ftr-493	262	2	transactions	transaction	NOUN
ftr-493	262	3	generally	generally	ADV
ftr-493	262	4	involved	involve	VERB
ftr-493	262	5	the	the	DET
ftr-493	262	6	manipulation	manipulation	NOUN
ftr-493	262	7	of	of	ADP
ftr-493	262	8	the	the	DET
ftr-493	262	9	"	"	PUNCT
ftr-493	262	10	realization	realization	NOUN
ftr-493	262	11	"	"	PUNCT
ftr-493	262	12	requirement	requirement	NOUN
ftr-493	262	13	.	.	PUNCT
ftr-493	263	1	thus	thus	ADV
ftr-493	263	2	,	,	PUNCT
ftr-493	263	3	an	an	DET
ftr-493	263	4	investor	investor	NOUN
ftr-493	263	5	might	might	AUX
ftr-493	263	6	enter	enter	VERB
ftr-493	263	7	into	into	ADP
ftr-493	263	8	offsetting	offset	VERB
ftr-493	263	9	long	long	ADJ
ftr-493	263	10	and	and	CCONJ
ftr-493	263	11	short	short	ADJ
ftr-493	263	12	future	future	ADJ
ftr-493	263	13	contracts	contract	NOUN
ftr-493	263	14	with	with	ADP
ftr-493	263	15	different	different	ADJ
ftr-493	263	16	delivery	delivery	NOUN
ftr-493	263	17	dates	date	VERB
ftr-493	263	18	on	on	ADP
ftr-493	263	19	gold	gold	NOUN
ftr-493	263	20	or	or	CCONJ
ftr-493	263	21	some	some	DET
ftr-493	263	22	other	other	ADJ
ftr-493	263	23	commodity	commodity	NOUN
ftr-493	263	24	.	.	PUNCT
ftr-493	264	1	subsequent	subsequent	ADJ
ftr-493	264	2	changes	change	NOUN
ftr-493	264	3	in	in	ADP
ftr-493	264	4	the	the	DET
ftr-493	264	5	market	market	NOUN
ftr-493	264	6	price	price	NOUN
ftr-493	264	7	for	for	ADP
ftr-493	264	8	the	the	DET
ftr-493	264	9	underlying	underlie	VERB
ftr-493	264	10	commodity	commodity	NOUN
ftr-493	264	11	would	would	AUX
ftr-493	264	12	create	create	VERB
ftr-493	264	13	a	a	DET
ftr-493	264	14	built	build	VERB
ftr-493	264	15	-	-	PUNCT
ftr-493	264	16	in	in	ADP
ftr-493	264	17	gain	gain	NOUN
ftr-493	264	18	or	or	CCONJ
ftr-493	264	19	loss	loss	NOUN
ftr-493	264	20	in	in	ADP
ftr-493	264	21	the	the	DET
ftr-493	264	22	long	long	ADJ
ftr-493	264	23	position	position	NOUN
ftr-493	264	24	,	,	PUNCT
ftr-493	264	25	and	and	CCONJ
ftr-493	264	26	an	an	PRON
ftr-493	264	27	(	(	PUNCT
ftr-493	264	28	almost	almost	ADV
ftr-493	264	29	exactly	exactly	ADV
ftr-493	264	30	)	)	PUNCT
ftr-493	264	31	offsetting	offset	VERB
ftr-493	264	32	loss	loss	NOUN
ftr-493	264	33	or	or	CCONJ
ftr-493	264	34	gain	gain	NOUN
ftr-493	264	35	in	in	ADP
ftr-493	264	36	the	the	DET
ftr-493	264	37	short	short	ADJ
ftr-493	264	38	position	position	NOUN
ftr-493	264	39	.	.	PUNCT
ftr-493	265	1	thus	thus	ADV
ftr-493	265	2	the	the	DET
ftr-493	265	3	overall	overall	ADJ
ftr-493	265	4	net	net	ADJ
ftr-493	265	5	loss	loss	NOUN
ftr-493	265	6	or	or	CCONJ
ftr-493	265	7	gain	gain	NOUN
ftr-493	265	8	in	in	ADP
ftr-493	265	9	the	the	DET
ftr-493	265	10	taxpayer	taxpayer	NOUN
ftr-493	265	11	's	's	PART
ftr-493	265	12	economic	economic	ADJ
ftr-493	265	13	position	position	NOUN
ftr-493	265	14	was	be	AUX
ftr-493	265	15	likely	likely	ADJ
ftr-493	265	16	to	to	PART
ftr-493	265	17	be	be	AUX
ftr-493	265	18	minimal	minimal	ADJ
ftr-493	265	19	.	.	PUNCT
ftr-493	266	1	nevertheless	nevertheless	ADV
ftr-493	266	2	,	,	PUNCT
ftr-493	266	3	by	by	ADP
ftr-493	266	4	disposing	dispose	VERB
ftr-493	266	5	of	of	ADP
ftr-493	266	6	the	the	DET
ftr-493	266	7	loss	loss	NOUN
ftr-493	266	8	leg	leg	NOUN
ftr-493	266	9	of	of	ADP
ftr-493	266	10	the	the	DET
ftr-493	266	11	straddle	straddle	NOUN
ftr-493	266	12	,	,	PUNCT
ftr-493	266	13	while	while	SCONJ
ftr-493	266	14	retaining	retain	VERB
ftr-493	266	15	the	the	DET
ftr-493	266	16	gain	gain	NOUN
ftr-493	266	17	leg	leg	NOUN
ftr-493	266	18	,	,	PUNCT
ftr-493	266	19	the	the	DET
ftr-493	266	20	investor	investor	NOUN
ftr-493	266	21	could	could	AUX
ftr-493	266	22	create	create	VERB
ftr-493	266	23	a	a	DET
ftr-493	266	24	taxable	taxable	ADJ
ftr-493	266	25	loss	loss	NOUN
ftr-493	266	26	that	that	PRON
ftr-493	266	27	could	could	AUX
ftr-493	266	28	be	be	AUX
ftr-493	266	29	used	use	VERB
ftr-493	266	30	to	to	PART
ftr-493	266	31	shelter	shelter	VERB
ftr-493	266	32	unrelated	unrelated	ADJ
ftr-493	266	33	income	income	NOUN
ftr-493	266	34	,	,	PUNCT
ftr-493	266	35	generally	generally	ADV
ftr-493	266	36	,	,	PUNCT
ftr-493	266	37	short	short	ADJ
ftr-493	266	38	-	-	PUNCT
ftr-493	266	39	term	term	NOUN
ftr-493	266	40	capital	capital	NOUN
ftr-493	266	41	gains.42	gains.42	NOUN
ftr-493	266	42	in	in	ADP
ftr-493	266	43	this	this	DET
ftr-493	266	44	way	way	NOUN
ftr-493	266	45	,	,	PUNCT
ftr-493	266	46	the	the	DET
ftr-493	266	47	taxpayer	taxpayer	NOUN
ftr-493	266	48	was	be	AUX
ftr-493	266	49	able	able	ADJ
ftr-493	266	50	to	to	PART
ftr-493	266	51	defer	defer	VERB
ftr-493	266	52	such	such	ADJ
ftr-493	266	53	unrelated	unrelated	ADJ
ftr-493	266	54	income	income	NOUN
ftr-493	266	55	and	and	CCONJ
ftr-493	266	56	frequently	frequently	ADV
ftr-493	266	57	convert	convert	VERB
ftr-493	266	58	it	it	PRON
ftr-493	266	59	from	from	ADP
ftr-493	266	60	short	short	ADJ
ftr-493	266	61	-	-	PUNCT
ftr-493	266	62	term	term	NOUN
ftr-493	266	63	into	into	ADP
ftr-493	266	64	preferentially	preferentially	ADV
ftr-493	266	65	-	-	PUNCT
ftr-493	266	66	taxed	tax	VERB
ftr-493	266	67	long	long	ADJ
ftr-493	266	68	-	-	PUNCT
ftr-493	266	69	term	term	NOUN
ftr-493	266	70	capital	capital	NOUN
ftr-493	266	71	gain.43	gain.43	NOUN
ftr-493	266	72	under	under	ADP
ftr-493	266	73	section	section	NOUN
ftr-493	266	74	1092(a	1092(a	NOUN
ftr-493	266	75	)	)	PUNCT
ftr-493	266	76	,	,	PUNCT
ftr-493	267	1	[	[	X
ftr-493	267	2	a]ny	a]ny	NOUN
ftr-493	267	3	loss	loss	NOUN
ftr-493	267	4	with	with	ADP
ftr-493	267	5	respect	respect	NOUN
ftr-493	267	6	to	to	ADP
ftr-493	267	7	1	1	NUM
ftr-493	267	8	or	or	CCONJ
ftr-493	267	9	more	more	ADJ
ftr-493	267	10	[	[	X
ftr-493	267	11	straddle	straddle	NOUN
ftr-493	267	12	]	]	PUNCT
ftr-493	267	13	positions	position	NOUN
ftr-493	267	14	shall	shall	AUX
ftr-493	267	15	be	be	AUX
ftr-493	267	16	taken	take	VERB
ftr-493	267	17	into	into	ADP
ftr-493	267	18	account	account	NOUN
ftr-493	267	19	for	for	ADP
ftr-493	267	20	any	any	DET
ftr-493	267	21	taxable	taxable	ADJ
ftr-493	267	22	year	year	NOUN
ftr-493	267	23	only	only	ADV
ftr-493	267	24	to	to	ADP
ftr-493	267	25	the	the	DET
ftr-493	267	26	extent	extent	NOUN
ftr-493	267	27	that	that	SCONJ
ftr-493	267	28	the	the	DET
ftr-493	267	29	amount	amount	NOUN
ftr-493	267	30	of	of	ADP
ftr-493	267	31	such	such	ADJ
ftr-493	267	32	loss	loss	NOUN
ftr-493	267	33	exceeds	exceed	VERB
ftr-493	267	34	the	the	DET
ftr-493	267	35	unrecognized	unrecognized	ADJ
ftr-493	267	36	gain	gain	NOUN
ftr-493	267	37	(	(	PUNCT
ftr-493	267	38	if	if	SCONJ
ftr-493	267	39	any	any	PRON
ftr-493	267	40	)	)	PUNCT
ftr-493	267	41	with	with	ADP
ftr-493	267	42	respect	respect	NOUN
ftr-493	267	43	to	to	ADP
ftr-493	267	44	1	1	NUM
ftr-493	267	45	or	or	CCONJ
ftr-493	267	46	more	more	ADJ
ftr-493	267	47	[	[	X
ftr-493	267	48	other	other	ADJ
ftr-493	267	49	]	]	PUNCT
ftr-493	267	50	positions	position	NOUN
ftr-493	267	51	which	which	PRON
ftr-493	267	52	were	be	AUX
ftr-493	267	53	offsetting	offset	VERB
ftr-493	267	54	positions	position	NOUN
ftr-493	267	55	with	with	ADP
ftr-493	267	56	respect	respect	NOUN
ftr-493	267	57	to	to	ADP
ftr-493	267	58	[	[	X
ftr-493	267	59	the	the	X
ftr-493	267	60	]	]	SYM
ftr-493	267	61	1	1	NUM
ftr-493	267	62	or	or	CCONJ
ftr-493	267	63	more	more	ADJ
ftr-493	267	64	positions	position	NOUN
ftr-493	267	65	from	from	ADP
ftr-493	267	66	which	which	PRON
ftr-493	267	67	the	the	DET
ftr-493	267	68	loss	loss	NOUN
ftr-493	267	69	arose	arise	VERB
ftr-493	267	70	.	.	PUNCT
ftr-493	268	1	any	any	DET
ftr-493	268	2	loss	loss	NOUN
ftr-493	268	3	disallowed	disallow	VERB
ftr-493	268	4	under	under	ADP
ftr-493	268	5	this	this	DET
ftr-493	268	6	provision	provision	NOUN
ftr-493	268	7	is	be	AUX
ftr-493	268	8	carried	carry	VERB
ftr-493	268	9	forward	forward	ADV
ftr-493	268	10	and	and	CCONJ
ftr-493	268	11	treated	treat	VERB
ftr-493	268	12	as	as	ADP
ftr-493	268	13	a	a	DET
ftr-493	268	14	loss	loss	NOUN
ftr-493	268	15	arising	arise	VERB
ftr-493	268	16	in	in	ADP
ftr-493	268	17	the	the	DET
ftr-493	268	18	next	next	ADJ
ftr-493	268	19	succeeding	succeed	VERB
ftr-493	268	20	taxable	taxable	ADJ
ftr-493	268	21	year	year	NOUN
ftr-493	268	22	,	,	PUNCT
ftr-493	268	23	when	when	SCONJ
ftr-493	268	24	it	it	PRON
ftr-493	268	25	will	will	AUX
ftr-493	268	26	again	again	ADV
ftr-493	268	27	be	be	AUX
ftr-493	268	28	subject	subject	ADJ
ftr-493	268	29	to	to	ADP
ftr-493	268	30	the	the	DET
ftr-493	268	31	rules	rule	NOUN
ftr-493	268	32	of	of	ADP
ftr-493	268	33	section	section	NOUN
ftr-493	268	34	1092(a	1092(a	NOUN
ftr-493	268	35	)	)	PUNCT
ftr-493	268	36	.	.	PUNCT
ftr-493	269	1	section	section	NOUN
ftr-493	269	2	1092(d)(2	1092(d)(2	NOUN
ftr-493	269	3	)	)	PUNCT
ftr-493	269	4	defines	define	VERB
ftr-493	269	5	a	a	DET
ftr-493	269	6	"	"	PUNCT
ftr-493	269	7	position	position	NOUN
ftr-493	269	8	"	"	PUNCT
ftr-493	269	9	as	as	ADP
ftr-493	269	10	"	"	PUNCT
ftr-493	269	11	an	an	DET
ftr-493	269	12	interest	interest	NOUN
ftr-493	269	13	(	(	PUNCT
ftr-493	269	14	including	include	VERB
ftr-493	269	15	a	a	DET
ftr-493	269	16	futures	future	NOUN
ftr-493	269	17	or	or	CCONJ
ftr-493	269	18	forward	forward	ADJ
ftr-493	269	19	contract	contract	NOUN
ftr-493	269	20	or	or	CCONJ
ftr-493	269	21	option	option	NOUN
ftr-493	269	22	)	)	PUNCT
ftr-493	269	23	in	in	ADP
ftr-493	269	24	personal	personal	ADJ
ftr-493	269	25	property	property	NOUN
ftr-493	269	26	.	.	PUNCT
ftr-493	269	27	"	"	PUNCT
ftr-493	270	1	section	section	NOUN
ftr-493	270	2	1092(d)(1	1092(d)(1	NUM
ftr-493	270	3	)	)	PUNCT
ftr-493	270	4	defines	define	VERB
ftr-493	270	5	"	"	PUNCT
ftr-493	270	6	personal	personal	ADJ
ftr-493	270	7	property	property	NOUN
ftr-493	270	8	"	"	PUNCT
ftr-493	270	9	to	to	PART
ftr-493	270	10	mean	mean	VERB
ftr-493	270	11	"	"	PUNCT
ftr-493	270	12	any	any	DET
ftr-493	270	13	personal	personal	ADJ
ftr-493	270	14	property	property	NOUN
ftr-493	270	15	of	of	ADP
ftr-493	270	16	a	a	DET
ftr-493	270	17	type	type	NOUN
ftr-493	270	18	which	which	PRON
ftr-493	270	19	is	be	AUX
ftr-493	270	20	actively	actively	ADV
ftr-493	270	21	traded	trade	VERB
ftr-493	270	22	.	.	PUNCT
ftr-493	270	23	"	"	PUNCT
ftr-493	271	1	finally	finally	ADV
ftr-493	271	2	,	,	PUNCT
ftr-493	271	3	section	section	NOUN
ftr-493	271	4	1092(c)(2	1092(c)(2	NUM
ftr-493	271	5	)	)	PUNCT
ftr-493	271	6	provides	provide	VERB
ftr-493	271	7	that	that	SCONJ
ftr-493	271	8	[	[	X
ftr-493	271	9	a	a	X
ftr-493	271	10	]	]	X
ftr-493	271	11	taxpayer	taxpayer	NOUN
ftr-493	271	12	holds	hold	VERB
ftr-493	271	13	offsetting	offset	VERB
ftr-493	271	14	positions	position	NOUN
ftr-493	271	15	with	with	ADP
ftr-493	271	16	respect	respect	NOUN
ftr-493	271	17	to	to	ADP
ftr-493	271	18	personal	personal	ADJ
ftr-493	271	19	property	property	NOUN
ftr-493	271	20	if	if	SCONJ
ftr-493	271	21	there	there	PRON
ftr-493	271	22	is	be	VERB
ftr-493	271	23	a	a	DET
ftr-493	271	24	substantial	substantial	ADJ
ftr-493	271	25	diminution	diminution	NOUN
ftr-493	271	26	of	of	ADP
ftr-493	271	27	the	the	DET
ftr-493	271	28	taxpayer	taxpayer	NOUN
ftr-493	271	29	's	's	PART
ftr-493	271	30	risk	risk	NOUN
ftr-493	271	31	of	of	ADP
ftr-493	271	32	loss	loss	NOUN
ftr-493	271	33	from	from	ADP
ftr-493	271	34	holding	hold	VERB
ftr-493	271	35	any	any	DET
ftr-493	271	36	position	position	NOUN
ftr-493	271	37	with	with	ADP
ftr-493	271	38	respect	respect	NOUN
ftr-493	271	39	to	to	ADP
ftr-493	271	40	personal	personal	ADJ
ftr-493	271	41	property	property	NOUN
ftr-493	271	42	by	by	ADP
ftr-493	271	43	reason	reason	NOUN
ftr-493	271	44	of	of	ADP
ftr-493	271	45	his	his	PRON
ftr-493	271	46	holding	holding	NOUN
ftr-493	271	47	1	1	NUM
ftr-493	271	48	or	or	CCONJ
ftr-493	271	49	more	more	ADJ
ftr-493	271	50	other	other	ADJ
ftr-493	271	51	42	42	NUM
ftr-493	271	52	.	.	PUNCT
ftr-493	272	1	cf	cf	NOUN
ftr-493	272	2	.	.	PUNCT
ftr-493	273	1	supra	supra	PROPN
ftr-493	273	2	text	text	NOUN
ftr-493	273	3	accompanying	accompanying	ADJ
ftr-493	273	4	note	note	NOUN
ftr-493	273	5	32	32	NUM
ftr-493	273	6	.	.	PUNCT
ftr-493	274	1	43	43	NUM
ftr-493	274	2	.	.	PUNCT
ftr-493	275	1	moreover	moreover	ADV
ftr-493	275	2	,	,	PUNCT
ftr-493	275	3	by	by	ADP
ftr-493	275	4	entering	enter	VERB
ftr-493	275	5	into	into	ADP
ftr-493	275	6	a	a	DET
ftr-493	275	7	new	new	ADJ
ftr-493	275	8	(	(	PUNCT
ftr-493	275	9	long	long	ADJ
ftr-493	275	10	or	or	CCONJ
ftr-493	275	11	short	short	ADJ
ftr-493	275	12	)	)	PUNCT
ftr-493	275	13	leg	leg	NOUN
ftr-493	275	14	to	to	PART
ftr-493	275	15	replace	replace	VERB
ftr-493	275	16	the	the	DET
ftr-493	275	17	(	(	PUNCT
ftr-493	275	18	long	long	ADJ
ftr-493	275	19	or	or	CCONJ
ftr-493	275	20	short	short	ADJ
ftr-493	275	21	)	)	PUNCT
ftr-493	275	22	leg	leg	NOUN
ftr-493	275	23	of	of	ADP
ftr-493	275	24	the	the	DET
ftr-493	275	25	straddle	straddle	NOUN
ftr-493	275	26	that	that	PRON
ftr-493	275	27	had	have	AUX
ftr-493	275	28	been	be	AUX
ftr-493	275	29	disposed	dispose	VERB
ftr-493	275	30	of	of	ADP
ftr-493	275	31	,	,	PUNCT
ftr-493	275	32	the	the	DET
ftr-493	275	33	taxpayer	taxpayer	NOUN
ftr-493	275	34	would	would	AUX
ftr-493	275	35	be	be	AUX
ftr-493	275	36	able	able	ADJ
ftr-493	275	37	to	to	PART
ftr-493	275	38	reestablish	reestablish	VERB
ftr-493	275	39	its	its	PRON
ftr-493	275	40	hedged	hedge	VERB
ftr-493	275	41	economic	economic	ADJ
ftr-493	275	42	position	position	NOUN
ftr-493	275	43	,	,	PUNCT
ftr-493	275	44	which	which	PRON
ftr-493	275	45	results	result	VERB
ftr-493	275	46	from	from	ADP
ftr-493	275	47	concurrently	concurrently	ADV
ftr-493	275	48	holding	hold	VERB
ftr-493	275	49	offsetting	offset	VERB
ftr-493	275	50	long	long	ADJ
ftr-493	275	51	and	and	CCONJ
ftr-493	275	52	short	short	ADJ
ftr-493	275	53	positions	position	NOUN
ftr-493	275	54	.	.	PUNCT
ftr-493	276	1	[	[	X
ftr-493	276	2	val	val	NOUN
ftr-493	276	3	1:5	1:5	NUM
ftr-493	276	4	selected	select	VERB
ftr-493	276	5	issues	issue	NOUN
ftr-493	276	6	in	in	ADP
ftr-493	276	7	the	the	DET
ftr-493	276	8	taxation	taxation	NOUN
ftr-493	276	9	of	of	ADP
ftr-493	276	10	swaps	swap	NOUN
ftr-493	276	11	positions	position	NOUN
ftr-493	276	12	with	with	ADP
ftr-493	276	13	respect	respect	NOUN
ftr-493	276	14	to	to	ADP
ftr-493	276	15	personal	personal	ADJ
ftr-493	276	16	property	property	NOUN
ftr-493	276	17	(	(	PUNCT
ftr-493	276	18	whether	whether	SCONJ
ftr-493	276	19	or	or	CCONJ
ftr-493	276	20	not	not	PART
ftr-493	276	21	of	of	ADP
ftr-493	276	22	the	the	DET
ftr-493	276	23	same	same	ADJ
ftr-493	276	24	kind	kind	NOUN
ftr-493	276	25	)	)	PUNCT
ftr-493	276	26	.	.	PUNCT
ftr-493	277	1	application	application	NOUN
ftr-493	277	2	of	of	ADP
ftr-493	277	3	section	section	NOUN
ftr-493	277	4	1092	1092	NUM
ftr-493	277	5	to	to	ADP
ftr-493	277	6	the	the	DET
ftr-493	277	7	transactions	transaction	NOUN
ftr-493	277	8	described	describe	VERB
ftr-493	277	9	above	above	ADP
ftr-493	277	10	thus	thus	ADV
ftr-493	277	11	involves	involve	VERB
ftr-493	277	12	a	a	DET
ftr-493	277	13	series	series	NOUN
ftr-493	277	14	of	of	ADP
ftr-493	277	15	technical	technical	ADJ
ftr-493	277	16	and	and	CCONJ
ftr-493	277	17	definitional	definitional	ADJ
ftr-493	277	18	questions	question	NOUN
ftr-493	277	19	.	.	PUNCT
ftr-493	278	1	the	the	DET
ftr-493	278	2	first	first	ADJ
ftr-493	278	3	question	question	NOUN
ftr-493	278	4	is	be	AUX
ftr-493	278	5	whether	whether	SCONJ
ftr-493	278	6	an	an	DET
ftr-493	278	7	interest	interest	NOUN
ftr-493	278	8	rate	rate	NOUN
ftr-493	278	9	swap	swap	NOUN
ftr-493	278	10	can	can	AUX
ftr-493	278	11	be	be	AUX
ftr-493	278	12	a	a	DET
ftr-493	278	13	"	"	PUNCT
ftr-493	278	14	position	position	NOUN
ftr-493	278	15	"	"	PUNCT
ftr-493	278	16	for	for	ADP
ftr-493	278	17	purposes	purpose	NOUN
ftr-493	278	18	of	of	ADP
ftr-493	278	19	section	section	NOUN
ftr-493	278	20	1092	1092	NUM
ftr-493	278	21	.	.	PUNCT
ftr-493	279	1	this	this	DET
ftr-493	279	2	question	question	NOUN
ftr-493	279	3	,	,	PUNCT
ftr-493	279	4	which	which	PRON
ftr-493	279	5	was	be	AUX
ftr-493	279	6	in	in	ADP
ftr-493	279	7	some	some	DET
ftr-493	279	8	doubt	doubt	NOUN
ftr-493	279	9	prior	prior	ADV
ftr-493	279	10	to	to	ADP
ftr-493	279	11	the	the	DET
ftr-493	279	12	issuance	issuance	NOUN
ftr-493	279	13	of	of	ADP
ftr-493	279	14	proposed	propose	VERB
ftr-493	279	15	regulations	regulation	NOUN
ftr-493	279	16	section	section	NOUN
ftr-493	279	17	1.1092(d)-l(c	1.1092(d)-l(c	PROPN
ftr-493	279	18	)	)	PUNCT
ftr-493	279	19	,	,	PUNCT
ftr-493	279	20	56	56	NUM
ftr-493	279	21	fed	feed	VERB
ftr-493	279	22	.	.	PUNCT
ftr-493	280	1	reg	reg	PROPN
ftr-493	280	2	.	.	PUNCT
ftr-493	281	1	31,350	31,350	NUM
ftr-493	281	2	(	(	PUNCT
ftr-493	281	3	1991	1991	NUM
ftr-493	281	4	)	)	PUNCT
ftr-493	281	5	,	,	PUNCT
ftr-493	281	6	was	be	AUX
ftr-493	281	7	addressed	address	VERB
ftr-493	281	8	in	in	ADP
ftr-493	281	9	that	that	DET
ftr-493	281	10	provision	provision	NOUN
ftr-493	281	11	of	of	ADP
ftr-493	281	12	the	the	DET
ftr-493	281	13	proposed	propose	VERB
ftr-493	281	14	regulations	regulation	NOUN
ftr-493	281	15	.	.	PUNCT
ftr-493	282	1	it	it	PRON
ftr-493	282	2	states	state	VERB
ftr-493	282	3	that	that	SCONJ
ftr-493	282	4	a	a	DET
ftr-493	282	5	notional	notional	ADJ
ftr-493	282	6	principal	principal	ADJ
ftr-493	282	7	contract	contract	NOUN
ftr-493	282	8	"	"	PUNCT
ftr-493	282	9	constitutes	constitute	VERB
ftr-493	282	10	personal	personal	ADJ
ftr-493	282	11	property	property	NOUN
ftr-493	282	12	of	of	ADP
ftr-493	282	13	a	a	DET
ftr-493	282	14	type	type	NOUN
ftr-493	282	15	that	that	PRON
ftr-493	282	16	is	be	AUX
ftr-493	282	17	actively	actively	ADV
ftr-493	282	18	traded	trade	VERB
ftr-493	282	19	if	if	SCONJ
ftr-493	282	20	similar	similar	ADJ
ftr-493	282	21	contracts	contract	NOUN
ftr-493	282	22	are	be	AUX
ftr-493	282	23	actively	actively	ADV
ftr-493	282	24	traded	trade	VERB
ftr-493	282	25	"	"	PUNCT
ftr-493	282	26	in	in	ADP
ftr-493	282	27	an	an	DET
ftr-493	282	28	interdealer	interdealer	ADJ
ftr-493	282	29	market	market	NOUN
ftr-493	282	30	or	or	CCONJ
ftr-493	282	31	other	other	ADJ
ftr-493	282	32	financial	financial	ADJ
ftr-493	282	33	market	market	NOUN
ftr-493	282	34	and	and	CCONJ
ftr-493	282	35	that	that	SCONJ
ftr-493	282	36	"	"	PUNCT
ftr-493	282	37	the	the	DET
ftr-493	282	38	rights	right	NOUN
ftr-493	282	39	and	and	CCONJ
ftr-493	282	40	obligations	obligation	NOUN
ftr-493	282	41	of	of	ADP
ftr-493	282	42	a	a	DET
ftr-493	282	43	party	party	NOUN
ftr-493	282	44	to	to	ADP
ftr-493	282	45	a	a	DET
ftr-493	282	46	notional	notional	ADJ
ftr-493	282	47	principal	principal	ADJ
ftr-493	282	48	contract	contract	NOUN
ftr-493	282	49	constitute	constitute	VERB
ftr-493	282	50	an	an	DET
ftr-493	282	51	interest	interest	NOUN
ftr-493	282	52	in	in	ADP
ftr-493	282	53	personal	personal	ADJ
ftr-493	282	54	property	property	NOUN
ftr-493	282	55	.	.	PUNCT
ftr-493	282	56	"	"	PUNCT
ftr-493	283	1	proposed	propose	VERB
ftr-493	283	2	regulations	regulation	NOUN
ftr-493	283	3	section	section	NOUN
ftr-493	283	4	1.1092(d)-l(b)(6	1.1092(d)-l(b)(6	NUM
ftr-493	283	5	)	)	PUNCT
ftr-493	283	6	states	state	VERB
ftr-493	283	7	that	that	SCONJ
ftr-493	283	8	"	"	PUNCT
ftr-493	283	9	[	[	X
ftr-493	283	10	ain	ain	NOUN
ftr-493	283	11	interdealer	interdealer	NOUN
ftr-493	283	12	market	market	NOUN
ftr-493	283	13	is	be	AUX
ftr-493	283	14	characterized	characterize	VERB
ftr-493	283	15	by	by	ADP
ftr-493	283	16	a	a	DET
ftr-493	283	17	system	system	NOUN
ftr-493	283	18	of	of	ADP
ftr-493	283	19	general	general	ADJ
ftr-493	283	20	circulation	circulation	NOUN
ftr-493	283	21	which	which	PRON
ftr-493	283	22	regularly	regularly	ADV
ftr-493	283	23	disseminates	disseminate	VERB
ftr-493	283	24	price	price	NOUN
ftr-493	283	25	quotations	quotation	NOUN
ftr-493	283	26	or	or	CCONJ
ftr-493	283	27	pricing	pricing	NOUN
ftr-493	283	28	information	information	NOUN
ftr-493	283	29	by	by	ADP
ftr-493	283	30	identified	identify	VERB
ftr-493	283	31	dealers	dealer	NOUN
ftr-493	283	32	,	,	PUNCT
ftr-493	283	33	brokers	broker	NOUN
ftr-493	283	34	,	,	PUNCT
ftr-493	283	35	or	or	CCONJ
ftr-493	283	36	traders	trader	NOUN
ftr-493	283	37	.	.	PUNCT
ftr-493	283	38	"	"	PUNCT
ftr-493	284	1	the	the	DET
ftr-493	284	2	proposed	propose	VERB
ftr-493	284	3	regulations	regulation	NOUN
ftr-493	284	4	do	do	AUX
ftr-493	284	5	not	not	PART
ftr-493	284	6	define	define	VERB
ftr-493	284	7	a	a	DET
ftr-493	284	8	dealer	dealer	NOUN
ftr-493	284	9	,	,	PUNCT
ftr-493	284	10	broker	broker	NOUN
ftr-493	284	11	or	or	CCONJ
ftr-493	284	12	trader	trader	NOUN
ftr-493	284	13	,	,	PUNCT
ftr-493	284	14	but	but	CCONJ
ftr-493	284	15	proposed	propose	VERB
ftr-493	284	16	regulations	regulation	NOUN
ftr-493	284	17	section	section	VERB
ftr-493	284	18	1.446	1.446	NUM
ftr-493	284	19	-	-	SYM
ftr-493	284	20	4(b	4(b	NUM
ftr-493	284	21	)	)	PUNCT
ftr-493	284	22	,	,	PUNCT
ftr-493	284	23	56	56	NUM
ftr-493	284	24	fed	feed	VERB
ftr-493	284	25	.	.	PUNCT
ftr-493	285	1	reg	reg	PROPN
ftr-493	285	2	.	.	PUNCT
ftr-493	286	1	31,350	31,350	NUM
ftr-493	286	2	(	(	PUNCT
ftr-493	286	3	1991	1991	NUM
ftr-493	286	4	)	)	PUNCT
ftr-493	286	5	,	,	PUNCT
ftr-493	286	6	issued	issue	VERB
ftr-493	286	7	at	at	ADP
ftr-493	286	8	the	the	DET
ftr-493	286	9	same	same	ADJ
ftr-493	286	10	time	time	NOUN
ftr-493	286	11	as	as	ADP
ftr-493	286	12	proposed	propose	VERB
ftr-493	286	13	regulations	regulation	NOUN
ftr-493	286	14	section	section	NOUN
ftr-493	286	15	1.1092(d)-l(b)(6	1.1092(d)-l(b)(6	NUM
ftr-493	286	16	)	)	PUNCT
ftr-493	286	17	,	,	PUNCT
ftr-493	286	18	states	state	VERB
ftr-493	286	19	that	that	SCONJ
ftr-493	286	20	a	a	DET
ftr-493	286	21	dealer	dealer	NOUN
ftr-493	286	22	or	or	CCONJ
ftr-493	286	23	trader	trader	NOUN
ftr-493	286	24	in	in	ADP
ftr-493	286	25	derivative	derivative	ADJ
ftr-493	286	26	financial	financial	ADJ
ftr-493	286	27	instruments	instrument	NOUN
ftr-493	286	28	(	(	PUNCT
ftr-493	286	29	such	such	ADJ
ftr-493	286	30	as	as	ADP
ftr-493	286	31	swaps	swap	NOUN
ftr-493	286	32	)	)	PUNCT
ftr-493	286	33	includes	include	VERB
ftr-493	286	34	a	a	DET
ftr-493	286	35	person	person	NOUN
ftr-493	286	36	that	that	SCONJ
ftr-493	286	37	"	"	PUNCT
ftr-493	286	38	[	[	X
ftr-493	286	39	m]akes	m]ake	VERB
ftr-493	286	40	a	a	DET
ftr-493	286	41	market	market	NOUN
ftr-493	286	42	in	in	ADP
ftr-493	286	43	derivative	derivative	ADJ
ftr-493	286	44	financial	financial	ADJ
ftr-493	286	45	instruments	instrument	NOUN
ftr-493	286	46	by	by	ADP
ftr-493	286	47	regularly	regularly	ADV
ftr-493	286	48	and	and	CCONJ
ftr-493	286	49	actively	actively	ADV
ftr-493	286	50	offering	offer	VERB
ftr-493	286	51	to	to	PART
ftr-493	286	52	enter	enter	VERB
ftr-493	286	53	into	into	ADP
ftr-493	286	54	,	,	PUNCT
ftr-493	286	55	offset	offset	VERB
ftr-493	286	56	,	,	PUNCT
ftr-493	286	57	assign	assign	VERB
ftr-493	286	58	,	,	PUNCT
ftr-493	286	59	or	or	CCONJ
ftr-493	286	60	otherwise	otherwise	ADV
ftr-493	286	61	terminate	terminate	VERB
ftr-493	286	62	positions	position	NOUN
ftr-493	286	63	in	in	ADP
ftr-493	286	64	those	those	DET
ftr-493	286	65	instruments	instrument	NOUN
ftr-493	286	66	with	with	ADP
ftr-493	286	67	customers	customer	NOUN
ftr-493	286	68	in	in	ADP
ftr-493	286	69	the	the	DET
ftr-493	286	70	ordinary	ordinary	ADJ
ftr-493	286	71	course	course	NOUN
ftr-493	286	72	of	of	ADP
ftr-493	286	73	its	its	PRON
ftr-493	286	74	trade	trade	NOUN
ftr-493	286	75	or	or	CCONJ
ftr-493	286	76	business	business	NOUN
ftr-493	286	77	.	.	PUNCT
ftr-493	287	1	"m	"m	VERB
ftr-493	287	2	because	because	SCONJ
ftr-493	287	3	most	most	ADJ
ftr-493	287	4	swap	swap	NOUN
ftr-493	287	5	transactions	transaction	NOUN
ftr-493	287	6	are	be	AUX
ftr-493	287	7	,	,	PUNCT
ftr-493	287	8	in	in	ADP
ftr-493	287	9	fact	fact	NOUN
ftr-493	287	10	,	,	PUNCT
ftr-493	287	11	intermediated	intermediate	VERB
ftr-493	287	12	by	by	ADP
ftr-493	287	13	investment	investment	NOUN
ftr-493	287	14	and	and	CCONJ
ftr-493	287	15	commercial	commercial	ADJ
ftr-493	287	16	banks	bank	NOUN
ftr-493	287	17	that	that	PRON
ftr-493	287	18	regularly	regularly	ADV
ftr-493	287	19	quote	quote	VERB
ftr-493	287	20	rates	rate	NOUN
ftr-493	287	21	for	for	ADP
ftr-493	287	22	entering	enter	VERB
ftr-493	287	23	into	into	ADP
ftr-493	287	24	swaps	swap	NOUN
ftr-493	287	25	and	and	CCONJ
ftr-493	287	26	act	act	VERB
ftr-493	287	27	as	as	ADP
ftr-493	287	28	middlemen	middleman	NOUN
ftr-493	287	29	between	between	ADP
ftr-493	287	30	the	the	DET
ftr-493	287	31	ultimate	ultimate	ADJ
ftr-493	287	32	counterparties	counterpartie	NOUN
ftr-493	287	33	to	to	ADP
ftr-493	287	34	the	the	DET
ftr-493	287	35	swap	swap	NOUN
ftr-493	287	36	,	,	PUNCT
ftr-493	287	37	5	5	NUM
ftr-493	287	38	it	it	PRON
ftr-493	287	39	is	be	AUX
ftr-493	287	40	likely	likely	ADJ
ftr-493	287	41	that	that	SCONJ
ftr-493	287	42	,	,	PUNCT
ftr-493	287	43	if	if	SCONJ
ftr-493	287	44	this	this	DET
ftr-493	287	45	44	44	NUM
ftr-493	287	46	.	.	PUNCT
ftr-493	288	1	technically	technically	ADV
ftr-493	288	2	,	,	PUNCT
ftr-493	288	3	the	the	DET
ftr-493	288	4	definition	definition	NOUN
ftr-493	288	5	contained	contain	VERB
ftr-493	288	6	in	in	ADP
ftr-493	288	7	proposed	propose	VERB
ftr-493	288	8	regulations	regulation	NOUN
ftr-493	288	9	section	section	NOUN
ftr-493	288	10	1.446	1.446	NUM
ftr-493	288	11	-	-	SYM
ftr-493	288	12	4	4	NUM
ftr-493	288	13	applies	apply	VERB
ftr-493	288	14	only	only	ADV
ftr-493	288	15	for	for	ADP
ftr-493	288	16	purposes	purpose	NOUN
ftr-493	288	17	of	of	ADP
ftr-493	288	18	that	that	DET
ftr-493	288	19	section	section	NOUN
ftr-493	288	20	.	.	PUNCT
ftr-493	289	1	45	45	NUM
ftr-493	289	2	.	.	PUNCT
ftr-493	290	1	generally	generally	ADV
ftr-493	290	2	,	,	PUNCT
ftr-493	290	3	the	the	DET
ftr-493	290	4	investment	investment	NOUN
ftr-493	290	5	or	or	CCONJ
ftr-493	290	6	commercial	commercial	ADJ
ftr-493	290	7	bank	bank	NOUN
ftr-493	290	8	in	in	ADP
ftr-493	290	9	the	the	DET
ftr-493	290	10	middle	middle	NOUN
ftr-493	290	11	will	will	AUX
ftr-493	290	12	act	act	VERB
ftr-493	290	13	in	in	ADP
ftr-493	290	14	a	a	DET
ftr-493	290	15	principal	principal	ADJ
ftr-493	290	16	capacity	capacity	NOUN
ftr-493	290	17	with	with	ADP
ftr-493	290	18	respect	respect	NOUN
ftr-493	290	19	to	to	ADP
ftr-493	290	20	each	each	DET
ftr-493	290	21	counterparty	counterparty	NOUN
ftr-493	290	22	.	.	PUNCT
ftr-493	291	1	thus	thus	ADV
ftr-493	291	2	,	,	PUNCT
ftr-493	291	3	the	the	DET
ftr-493	291	4	bank	bank	NOUN
ftr-493	291	5	will	will	AUX
ftr-493	291	6	be	be	AUX
ftr-493	291	7	taking	take	VERB
ftr-493	291	8	each	each	DET
ftr-493	291	9	party	party	NOUN
ftr-493	291	10	's	's	PART
ftr-493	291	11	credit	credit	NOUN
ftr-493	291	12	risk	risk	NOUN
ftr-493	291	13	and	and	CCONJ
ftr-493	291	14	will	will	AUX
ftr-493	291	15	be	be	AUX
ftr-493	291	16	required	require	VERB
ftr-493	291	17	to	to	PART
ftr-493	291	18	perform	perform	VERB
ftr-493	291	19	its	its	PRON
ftr-493	291	20	obligations	obligation	NOUN
ftr-493	291	21	under	under	ADP
ftr-493	291	22	the	the	DET
ftr-493	291	23	swap	swap	NOUN
ftr-493	291	24	regardless	regardless	ADV
ftr-493	291	25	of	of	ADP
ftr-493	291	26	a	a	DET
ftr-493	291	27	default	default	NOUN
ftr-493	291	28	or	or	CCONJ
ftr-493	291	29	delinquency	delinquency	NOUN
ftr-493	291	30	by	by	ADP
ftr-493	291	31	the	the	DET
ftr-493	291	32	counterparty	counterparty	NOUN
ftr-493	291	33	on	on	ADP
ftr-493	291	34	the	the	DET
ftr-493	291	35	other	other	ADJ
ftr-493	291	36	side	side	NOUN
ftr-493	291	37	of	of	ADP
ftr-493	291	38	the	the	DET
ftr-493	291	39	transaction	transaction	NOUN
ftr-493	291	40	.	.	PUNCT
ftr-493	292	1	for	for	ADP
ftr-493	292	2	obvious	obvious	ADJ
ftr-493	292	3	commercial	commercial	ADJ
ftr-493	292	4	reasons	reason	NOUN
ftr-493	292	5	,	,	PUNCT
ftr-493	292	6	a	a	DET
ftr-493	292	7	bank	bank	NOUN
ftr-493	292	8	acting	act	VERB
ftr-493	292	9	in	in	ADP
ftr-493	292	10	a	a	DET
ftr-493	292	11	principal	principal	ADJ
ftr-493	292	12	capacity	capacity	NOUN
ftr-493	292	13	will	will	AUX
ftr-493	292	14	not	not	PART
ftr-493	292	15	generally	generally	ADV
ftr-493	292	16	reveal	reveal	VERB
ftr-493	292	17	to	to	ADP
ftr-493	292	18	either	either	CCONJ
ftr-493	292	19	counterparty	counterparty	VERB
ftr-493	292	20	the	the	DET
ftr-493	292	21	terms	term	NOUN
ftr-493	292	22	of	of	ADP
ftr-493	292	23	,	,	PUNCT
ftr-493	292	24	or	or	CCONJ
ftr-493	292	25	the	the	DET
ftr-493	292	26	identity	identity	NOUN
ftr-493	292	27	of	of	ADP
ftr-493	292	28	the	the	DET
ftr-493	292	29	counterparty	counterparty	NOUN
ftr-493	292	30	with	with	ADP
ftr-493	292	31	respect	respect	NOUN
ftr-493	292	32	to	to	ADP
ftr-493	292	33	,	,	PUNCT
ftr-493	292	34	the	the	DET
ftr-493	292	35	other	other	ADJ
ftr-493	292	36	leg	leg	NOUN
ftr-493	292	37	of	of	ADP
ftr-493	292	38	the	the	DET
ftr-493	292	39	transaction	transaction	NOUN
ftr-493	292	40	.	.	PUNCT
ftr-493	293	1	the	the	DET
ftr-493	293	2	swap	swap	NOUN
ftr-493	293	3	market	market	NOUN
ftr-493	293	4	is	be	AUX
ftr-493	293	5	described	describe	VERB
ftr-493	293	6	as	as	SCONJ
ftr-493	293	7	follows	follow	VERB
ftr-493	293	8	in	in	ADP
ftr-493	293	9	the	the	DET
ftr-493	293	10	preamble	preamble	NOUN
ftr-493	293	11	to	to	ADP
ftr-493	293	12	the	the	DET
ftr-493	293	13	proposed	propose	VERB
ftr-493	293	14	regulations	regulation	NOUN
ftr-493	293	15	sections	section	NOUN
ftr-493	293	16	446	446	NUM
ftr-493	293	17	and	and	CCONJ
ftr-493	293	18	1092	1092	NUM
ftr-493	293	19	,	,	PUNCT
ftr-493	293	20	56	56	NUM
ftr-493	293	21	fed	feed	VERB
ftr-493	293	22	.	.	PUNCT
ftr-493	294	1	reg	reg	PROPN
ftr-493	294	2	.	.	PUNCT
ftr-493	295	1	31,350	31,350	NUM
ftr-493	295	2	(	(	PUNCT
ftr-493	295	3	1991	1991	NUM
ftr-493	295	4	):	):	PUNCT
ftr-493	295	5	a	a	DET
ftr-493	295	6	notional	notional	ADJ
ftr-493	295	7	principal	principal	ADJ
ftr-493	295	8	contract	contract	NOUN
ftr-493	295	9	may	may	AUX
ftr-493	295	10	be	be	AUX
ftr-493	295	11	entered	enter	VERB
ftr-493	295	12	into	into	ADP
ftr-493	295	13	directly	directly	ADV
ftr-493	295	14	with	with	ADP
ftr-493	295	15	another	another	DET
ftr-493	295	16	principal	principal	ADJ
ftr-493	295	17	end	end	NOUN
ftr-493	295	18	-	-	PUNCT
ftr-493	295	19	user	user	NOUN
ftr-493	295	20	.	.	PUNCT
ftr-493	296	1	more	more	ADV
ftr-493	296	2	commonly	commonly	ADV
ftr-493	296	3	,	,	PUNCT
ftr-493	296	4	however	however	ADV
ftr-493	296	5	,	,	PUNCT
ftr-493	296	6	the	the	DET
ftr-493	296	7	counterparty	counterparty	NOUN
ftr-493	296	8	to	to	ADP
ftr-493	296	9	the	the	DET
ftr-493	296	10	contract	contract	NOUN
ftr-493	296	11	is	be	AUX
ftr-493	296	12	a	a	DET
ftr-493	296	13	commercial	commercial	ADJ
ftr-493	296	14	or	or	CCONJ
ftr-493	296	15	investment	investment	NOUN
ftr-493	296	16	bank	bank	NOUN
ftr-493	296	17	that	that	PRON
ftr-493	296	18	acts	act	VERB
ftr-493	296	19	as	as	ADP
ftr-493	296	20	a	a	DET
ftr-493	296	21	"	"	PUNCT
ftr-493	296	22	dealer	dealer	NOUN
ftr-493	296	23	"	"	PUNCT
ftr-493	296	24	in	in	ADP
ftr-493	296	25	such	such	ADJ
ftr-493	296	26	contracts	contract	NOUN
ftr-493	296	27	.	.	PUNCT
ftr-493	297	1	the	the	DET
ftr-493	297	2	dealer	dealer	NOUN
ftr-493	297	3	typically	typically	ADV
ftr-493	297	4	creates	create	VERB
ftr-493	297	5	a	a	DET
ftr-493	297	6	portfolio	portfolio	NOUN
ftr-493	297	7	of	of	ADP
ftr-493	297	8	notional	notional	ADJ
ftr-493	297	9	principal	principal	ADJ
ftr-493	297	10	contracts	contract	NOUN
ftr-493	297	11	and	and	CCONJ
ftr-493	297	12	seeks	seek	VERB
ftr-493	297	13	to	to	PART
ftr-493	297	14	maintain	maintain	VERB
ftr-493	297	15	a	a	DET
ftr-493	297	16	balanced	balanced	ADJ
ftr-493	297	17	market	market	NOUN
ftr-493	297	18	position	position	NOUN
ftr-493	297	19	.	.	PUNCT
ftr-493	298	1	notional	notional	ADJ
ftr-493	298	2	principal	principal	ADJ
ftr-493	298	3	contract	contract	NOUN
ftr-493	298	4	dealers	dealer	NOUN
ftr-493	298	5	provide	provide	VERB
ftr-493	298	6	liquidity	liquidity	NOUN
ftr-493	298	7	for	for	ADP
ftr-493	298	8	the	the	DET
ftr-493	298	9	market	market	NOUN
ftr-493	298	10	by	by	ADP
ftr-493	298	11	standing	stand	VERB
ftr-493	298	12	19931	19931	NUM
ftr-493	298	13	florida	florida	PROPN
ftr-493	298	14	tax	tax	NOUN
ftr-493	298	15	review	review	NOUN
ftr-493	298	16	definition	definition	NOUN
ftr-493	298	17	of	of	ADP
ftr-493	298	18	dealer	dealer	NOUN
ftr-493	298	19	or	or	CCONJ
ftr-493	298	20	trader	trader	NOUN
ftr-493	298	21	were	be	AUX
ftr-493	298	22	to	to	PART
ftr-493	298	23	apply	apply	VERB
ftr-493	298	24	for	for	ADP
ftr-493	298	25	purposes	purpose	NOUN
ftr-493	298	26	of	of	ADP
ftr-493	298	27	section	section	NOUN
ftr-493	298	28	1092	1092	NUM
ftr-493	298	29	,	,	PUNCT
ftr-493	298	30	most	most	ADJ
ftr-493	298	31	swaps	swap	NOUN
ftr-493	298	32	would	would	AUX
ftr-493	298	33	constitute	constitute	VERB
ftr-493	298	34	property	property	NOUN
ftr-493	298	35	"	"	PUNCT
ftr-493	298	36	of	of	ADP
ftr-493	298	37	a	a	DET
ftr-493	298	38	type	type	NOUN
ftr-493	298	39	"	"	PUNCT
ftr-493	298	40	that	that	PRON
ftr-493	298	41	is	be	AUX
ftr-493	298	42	actively	actively	ADV
ftr-493	298	43	traded	trade	VERB
ftr-493	298	44	in	in	ADP
ftr-493	298	45	an	an	DET
ftr-493	298	46	interdealer	interdealer	ADJ
ftr-493	298	47	market	market	NOUN
ftr-493	298	48	.	.	PUNCT
ftr-493	299	1	indeed	indeed	ADV
ftr-493	299	2	,	,	PUNCT
ftr-493	299	3	perhaps	perhaps	ADV
ftr-493	299	4	based	base	VERB
ftr-493	299	5	on	on	ADP
ftr-493	299	6	this	this	DET
ftr-493	299	7	type	type	NOUN
ftr-493	299	8	of	of	ADP
ftr-493	299	9	analysis	analysis	NOUN
ftr-493	299	10	,	,	PUNCT
ftr-493	299	11	the	the	DET
ftr-493	299	12	preamble	preamble	NOUN
ftr-493	299	13	to	to	ADP
ftr-493	299	14	the	the	DET
ftr-493	299	15	proposed	propose	VERB
ftr-493	299	16	section	section	NOUN
ftr-493	299	17	1092	1092	NUM
ftr-493	299	18	regulations	regulation	NOUN
ftr-493	299	19	concludes	conclude	VERB
ftr-493	299	20	that	that	SCONJ
ftr-493	299	21	"	"	PUNCT
ftr-493	299	22	notional	notional	ADJ
ftr-493	299	23	principal	principal	ADJ
ftr-493	299	24	contracts	contract	NOUN
ftr-493	299	25	are	be	AUX
ftr-493	299	26	generally	generally	ADV
ftr-493	299	27	actively	actively	ADV
ftr-493	299	28	traded	trade	VERB
ftr-493	299	29	personal	personal	ADJ
ftr-493	299	30	property	property	NOUN
ftr-493	299	31	"	"	PUNCT
ftr-493	299	32	for	for	ADP
ftr-493	299	33	purposes	purpose	NOUN
ftr-493	299	34	of	of	ADP
ftr-493	299	35	section	section	NOUN
ftr-493	299	36	1092	1092	NUM
ftr-493	299	37	.	.	PUNCT
ftr-493	300	1	the	the	DET
ftr-493	300	2	next	next	ADJ
ftr-493	300	3	question	question	NOUN
ftr-493	300	4	is	be	AUX
ftr-493	300	5	whether	whether	SCONJ
ftr-493	300	6	the	the	DET
ftr-493	300	7	swap	swap	NOUN
ftr-493	300	8	and	and	CCONJ
ftr-493	300	9	the	the	DET
ftr-493	300	10	bond	bond	NOUN
ftr-493	300	11	are	be	AUX
ftr-493	300	12	offsetting	offset	VERB
ftr-493	300	13	positions	position	NOUN
ftr-493	300	14	?	?	PUNCT
ftr-493	301	1	certainly	certainly	ADV
ftr-493	301	2	,	,	PUNCT
ftr-493	301	3	the	the	DET
ftr-493	301	4	swap	swap	NOUN
ftr-493	301	5	and	and	CCONJ
ftr-493	301	6	the	the	DET
ftr-493	301	7	bond	bond	NOUN
ftr-493	301	8	are	be	AUX
ftr-493	301	9	,	,	PUNCT
ftr-493	301	10	in	in	ADP
ftr-493	301	11	fact	fact	NOUN
ftr-493	301	12	,	,	PUNCT
ftr-493	301	13	economically	economically	ADV
ftr-493	301	14	offsetting	offset	VERB
ftr-493	301	15	positions	position	NOUN
ftr-493	301	16	.	.	PUNCT
ftr-493	302	1	this	this	PRON
ftr-493	302	2	follows	follow	VERB
ftr-493	302	3	ineluctably	ineluctably	ADV
ftr-493	302	4	from	from	ADP
ftr-493	302	5	the	the	DET
ftr-493	302	6	fact	fact	NOUN
ftr-493	302	7	that	that	SCONJ
ftr-493	302	8	a	a	PRON
ftr-493	302	9	is	be	AUX
ftr-493	302	10	required	require	VERB
ftr-493	302	11	to	to	PART
ftr-493	302	12	pay	pay	VERB
ftr-493	302	13	to	to	ADP
ftr-493	302	14	b	b	NOUN
ftr-493	302	15	under	under	ADP
ftr-493	302	16	the	the	DET
ftr-493	302	17	swap	swap	NOUN
ftr-493	302	18	amounts	amount	NOUN
ftr-493	302	19	equal	equal	ADJ
ftr-493	302	20	to	to	ADP
ftr-493	302	21	the	the	DET
ftr-493	302	22	coupon	coupon	NOUN
ftr-493	302	23	interest	interest	NOUN
ftr-493	302	24	and	and	CCONJ
ftr-493	302	25	the	the	DET
ftr-493	302	26	market	market	NOUN
ftr-493	302	27	discount	discount	NOUN
ftr-493	302	28	component	component	NOUN
ftr-493	302	29	of	of	ADP
ftr-493	302	30	the	the	DET
ftr-493	302	31	principal	principal	ADJ
ftr-493	302	32	payment	payment	NOUN
ftr-493	302	33	on	on	ADP
ftr-493	302	34	the	the	DET
ftr-493	302	35	bond	bond	NOUN
ftr-493	302	36	.	.	PUNCT
ftr-493	303	1	thus	thus	ADV
ftr-493	303	2	,	,	PUNCT
ftr-493	303	3	if	if	SCONJ
ftr-493	303	4	interest	interest	NOUN
ftr-493	303	5	rates	rate	NOUN
ftr-493	303	6	fall	fall	VERB
ftr-493	303	7	(	(	PUNCT
ftr-493	303	8	rise	rise	NOUN
ftr-493	303	9	)	)	PUNCT
ftr-493	303	10	,	,	PUNCT
ftr-493	303	11	the	the	DET
ftr-493	303	12	value	value	NOUN
ftr-493	303	13	of	of	ADP
ftr-493	303	14	the	the	DET
ftr-493	303	15	bond	bond	NOUN
ftr-493	303	16	will	will	AUX
ftr-493	303	17	increase	increase	VERB
ftr-493	303	18	(	(	PUNCT
ftr-493	303	19	decrease	decrease	NOUN
ftr-493	303	20	)	)	PUNCT
ftr-493	303	21	,	,	PUNCT
ftr-493	303	22	while	while	SCONJ
ftr-493	303	23	a	a	PRON
ftr-493	303	24	's	's	PART
ftr-493	303	25	obligation	obligation	NOUN
ftr-493	303	26	to	to	PART
ftr-493	303	27	pay	pay	VERB
ftr-493	303	28	b	b	DET
ftr-493	303	29	fixed	fix	VERB
ftr-493	303	30	amounts	amount	NOUN
ftr-493	303	31	under	under	ADP
ftr-493	303	32	the	the	DET
ftr-493	303	33	swap	swap	NOUN
ftr-493	303	34	will	will	AUX
ftr-493	303	35	increase	increase	VERB
ftr-493	303	36	(	(	PUNCT
ftr-493	303	37	decrease	decrease	NOUN
ftr-493	303	38	)	)	PUNCT
ftr-493	303	39	on	on	ADP
ftr-493	303	40	a	a	DET
ftr-493	303	41	present	present	ADJ
ftr-493	303	42	value	value	NOUN
ftr-493	303	43	basis	basis	NOUN
ftr-493	303	44	by	by	ADP
ftr-493	303	45	an	an	DET
ftr-493	303	46	offsetting	offset	VERB
ftr-493	303	47	amount	amount	NOUN
ftr-493	303	48	.	.	PUNCT
ftr-493	304	1	since	since	SCONJ
ftr-493	304	2	the	the	DET
ftr-493	304	3	bond	bond	NOUN
ftr-493	304	4	is	be	AUX
ftr-493	304	5	an	an	DET
ftr-493	304	6	asset	asset	NOUN
ftr-493	304	7	,	,	PUNCT
ftr-493	304	8	while	while	SCONJ
ftr-493	304	9	a	a	DET
ftr-493	304	10	's	's	PART
ftr-493	304	11	obligation	obligation	NOUN
ftr-493	304	12	to	to	PART
ftr-493	304	13	make	make	VERB
ftr-493	304	14	payments	payment	NOUN
ftr-493	304	15	to	to	ADP
ftr-493	304	16	b	b	NOUN
ftr-493	304	17	under	under	ADP
ftr-493	304	18	the	the	DET
ftr-493	304	19	swap	swap	NOUN
ftr-493	304	20	is	be	AUX
ftr-493	304	21	a	a	DET
ftr-493	304	22	liability	liability	NOUN
ftr-493	304	23	,	,	PUNCT
ftr-493	304	24	an	an	DET
ftr-493	304	25	increase	increase	NOUN
ftr-493	304	26	in	in	ADP
ftr-493	304	27	the	the	DET
ftr-493	304	28	former	former	ADJ
ftr-493	304	29	is	be	AUX
ftr-493	304	30	offset	offset	VERB
ftr-493	304	31	by	by	ADP
ftr-493	304	32	an	an	DET
ftr-493	304	33	increase	increase	NOUN
ftr-493	304	34	in	in	ADP
ftr-493	304	35	the	the	DET
ftr-493	304	36	latter	latter	ADJ
ftr-493	304	37	.	.	PUNCT
ftr-493	305	1	6	6	NUM
ftr-493	305	2	the	the	DET
ftr-493	305	3	final	final	ADJ
ftr-493	305	4	question	question	NOUN
ftr-493	305	5	,	,	PUNCT
ftr-493	305	6	however	however	ADV
ftr-493	305	7	,	,	PUNCT
ftr-493	305	8	is	be	AUX
ftr-493	305	9	whether	whether	SCONJ
ftr-493	305	10	the	the	DET
ftr-493	305	11	net	net	ADJ
ftr-493	305	12	deductions	deduction	NOUN
ftr-493	305	13	generated	generate	VERB
ftr-493	305	14	with	with	ADP
ftr-493	305	15	respect	respect	NOUN
ftr-493	305	16	to	to	ADP
ftr-493	305	17	the	the	DET
ftr-493	305	18	interest	interest	NOUN
ftr-493	305	19	rate	rate	NOUN
ftr-493	305	20	swap	swap	NOUN
ftr-493	305	21	constitute	constitute	VERB
ftr-493	305	22	"	"	PUNCT
ftr-493	305	23	losses	loss	NOUN
ftr-493	305	24	"	"	PUNCT
ftr-493	305	25	for	for	ADP
ftr-493	305	26	section	section	NOUN
ftr-493	305	27	1092(a	1092(a	NOUN
ftr-493	305	28	)	)	PUNCT
ftr-493	305	29	purposes	purpose	NOUN
ftr-493	305	30	.	.	PUNCT
ftr-493	306	1	it	it	PRON
ftr-493	306	2	is	be	AUX
ftr-493	306	3	difficult	difficult	ADJ
ftr-493	306	4	to	to	PART
ftr-493	306	5	consider	consider	VERB
ftr-493	306	6	those	those	DET
ftr-493	306	7	net	net	ADJ
ftr-493	306	8	deductions	deduction	NOUN
ftr-493	306	9	as	as	ADP
ftr-493	306	10	losses	loss	NOUN
ftr-493	306	11	for	for	ADP
ftr-493	306	12	tax	tax	NOUN
ftr-493	306	13	purposes	purpose	NOUN
ftr-493	306	14	.	.	PUNCT
ftr-493	307	1	the	the	DET
ftr-493	307	2	regulations	regulation	NOUN
ftr-493	307	3	under	under	ADP
ftr-493	307	4	section	section	NOUN
ftr-493	307	5	1092	1092	NUM
ftr-493	307	6	refer	refer	VERB
ftr-493	307	7	to	to	ADP
ftr-493	307	8	"	"	PUNCT
ftr-493	307	9	dispositions	disposition	NOUN
ftr-493	307	10	"	"	PUNCT
ftr-493	307	11	of	of	ADP
ftr-493	307	12	loss	loss	NOUN
ftr-493	307	13	positions	position	NOUN
ftr-493	307	14	and	and	CCONJ
ftr-493	307	15	define	define	VERB
ftr-493	307	16	a	a	DET
ftr-493	307	17	disposition	disposition	NOUN
ftr-493	307	18	as	as	ADP
ftr-493	307	19	including	include	VERB
ftr-493	307	20	the	the	DET
ftr-493	307	21	"	"	PUNCT
ftr-493	307	22	sale	sale	NOUN
ftr-493	307	23	,	,	PUNCT
ftr-493	307	24	exchange	exchange	NOUN
ftr-493	307	25	,	,	PUNCT
ftr-493	307	26	cancellation	cancellation	NOUN
ftr-493	307	27	,	,	PUNCT
ftr-493	307	28	lapse	lapse	NOUN
ftr-493	307	29	,	,	PUNCT
ftr-493	307	30	expiration	expiration	NOUN
ftr-493	307	31	,	,	PUNCT
ftr-493	307	32	or	or	CCONJ
ftr-493	307	33	other	other	ADJ
ftr-493	307	34	termination	termination	NOUN
ftr-493	307	35	of	of	ADP
ftr-493	307	36	a	a	DET
ftr-493	307	37	right	right	NOUN
ftr-493	307	38	or	or	CCONJ
ftr-493	307	39	obligation	obligation	NOUN
ftr-493	307	40	with	with	ADP
ftr-493	307	41	respect	respect	NOUN
ftr-493	307	42	to	to	ADP
ftr-493	307	43	personal	personal	ADJ
ftr-493	307	44	property	property	NOUN
ftr-493	307	45	....	....	PUNCT
ftr-493	308	1	payments	payment	NOUN
ftr-493	308	2	under	under	ADP
ftr-493	308	3	a	a	DET
ftr-493	308	4	swap	swap	NOUN
ftr-493	308	5	would	would	AUX
ftr-493	308	6	not	not	PART
ftr-493	308	7	seem	seem	VERB
ftr-493	308	8	to	to	PART
ftr-493	308	9	be	be	AUX
ftr-493	308	10	dispositions	disposition	NOUN
ftr-493	308	11	unless	unless	SCONJ
ftr-493	308	12	each	each	DET
ftr-493	308	13	payment	payment	NOUN
ftr-493	308	14	is	be	AUX
ftr-493	308	15	treated	treat	VERB
ftr-493	308	16	as	as	ADP
ftr-493	308	17	a	a	DET
ftr-493	308	18	discrete	discrete	ADJ
ftr-493	308	19	obligation	obligation	NOUN
ftr-493	308	20	.	.	PUNCT
ftr-493	309	1	in	in	ADP
ftr-493	309	2	that	that	DET
ftr-493	309	3	case	case	NOUN
ftr-493	309	4	,	,	PUNCT
ftr-493	309	5	however	however	ADV
ftr-493	309	6	,	,	PUNCT
ftr-493	309	7	unless	unless	SCONJ
ftr-493	309	8	the	the	DET
ftr-493	309	9	payor	payor	NOUN
ftr-493	309	10	were	be	AUX
ftr-493	309	11	a	a	DET
ftr-493	309	12	dealer	dealer	NOUN
ftr-493	309	13	in	in	ADP
ftr-493	309	14	swaps	swap	NOUN
ftr-493	309	15	(	(	PUNCT
ftr-493	309	16	or	or	CCONJ
ftr-493	309	17	in	in	ADP
ftr-493	309	18	the	the	DET
ftr-493	309	19	rare	rare	ADJ
ftr-493	309	20	case	case	NOUN
ftr-493	309	21	where	where	SCONJ
ftr-493	309	22	the	the	DET
ftr-493	309	23	swap	swap	NOUN
ftr-493	309	24	did	do	AUX
ftr-493	309	25	not	not	PART
ftr-493	309	26	constitute	constitute	VERB
ftr-493	309	27	personal	personal	ADJ
ftr-493	309	28	property	property	NOUN
ftr-493	309	29	under	under	ADP
ftr-493	309	30	section	section	NOUN
ftr-493	309	31	1092	1092	NUM
ftr-493	309	32	)	)	PUNCT
ftr-493	309	33	,	,	PUNCT
ftr-493	309	34	payments	payment	NOUN
ftr-493	309	35	under	under	ADP
ftr-493	309	36	the	the	DET
ftr-493	309	37	swap	swap	NOUN
ftr-493	309	38	would	would	AUX
ftr-493	309	39	give	give	VERB
ftr-493	309	40	rise	rise	NOUN
ftr-493	309	41	to	to	ADP
ftr-493	309	42	capital	capital	NOUN
ftr-493	309	43	loss	loss	NOUN
ftr-493	309	44	deductions	deduction	NOUN
ftr-493	309	45	pursuant	pursuant	ADJ
ftr-493	309	46	to	to	ADP
ftr-493	309	47	section	section	NOUN
ftr-493	309	48	1234a(l	1234a(l	NUM
ftr-493	309	49	)	)	PUNCT
ftr-493	309	50	,	,	PUNCT
ftr-493	309	51	which	which	PRON
ftr-493	309	52	would	would	AUX
ftr-493	309	53	certainly	certainly	ADV
ftr-493	309	54	be	be	AUX
ftr-493	309	55	a	a	DET
ftr-493	309	56	surprising	surprising	ADJ
ftr-493	309	57	result	result	NOUN
ftr-493	309	58	.	.	PUNCT
ftr-493	310	1	more	more	ADV
ftr-493	310	2	importantly	importantly	ADV
ftr-493	310	3	,	,	PUNCT
ftr-493	310	4	section	section	NOUN
ftr-493	310	5	1092	1092	NUM
ftr-493	310	6	defines	define	NOUN
ftr-493	310	7	losses	loss	NOUN
ftr-493	310	8	by	by	ADP
ftr-493	310	9	reference	reference	NOUN
ftr-493	310	10	to	to	ADP
ftr-493	310	11	section	section	NOUN
ftr-493	310	12	165(a	165(a	NOUN
ftr-493	310	13	)	)	PUNCT
ftr-493	310	14	,	,	PUNCT
ftr-493	310	15	the	the	DET
ftr-493	310	16	general	general	ADJ
ftr-493	310	17	section	section	NOUN
ftr-493	310	18	governing	govern	VERB
ftr-493	310	19	deductions	deduction	NOUN
ftr-493	310	20	for	for	ADP
ftr-493	310	21	losses	loss	NOUN
ftr-493	310	22	;	;	PUNCT
ftr-493	310	23	payments	payment	NOUN
ftr-493	310	24	under	under	ADP
ftr-493	310	25	a	a	DET
ftr-493	310	26	swap	swap	NOUN
ftr-493	310	27	are	be	AUX
ftr-493	310	28	presumably	presumably	ADV
ftr-493	310	29	deductible	deductible	ADJ
ftr-493	310	30	pursuant	pursuant	ADJ
ftr-493	310	31	to	to	ADP
ftr-493	310	32	section	section	NOUN
ftr-493	310	33	162	162	NUM
ftr-493	310	34	,	,	PUNCT
ftr-493	310	35	not	not	PART
ftr-493	310	36	section	section	NOUN
ftr-493	310	37	165(a	165(a	NOUN
ftr-493	310	38	)	)	PUNCT
ftr-493	310	39	.	.	PUNCT
ftr-493	311	1	moreover	moreover	ADV
ftr-493	311	2	,	,	PUNCT
ftr-493	311	3	proposed	propose	VERB
ftr-493	311	4	regulations	regulation	NOUN
ftr-493	311	5	section	section	VERB
ftr-493	311	6	1.446	1.446	NUM
ftr-493	311	7	-	-	SYM
ftr-493	311	8	3	3	NUM
ftr-493	311	9	,	,	PUNCT
ftr-493	311	10	56	56	NUM
ftr-493	311	11	fed	feed	VERB
ftr-493	311	12	.	.	PUNCT
ftr-493	312	1	reg	reg	PROPN
ftr-493	312	2	.	.	PUNCT
ftr-493	313	1	31,350	31,350	NUM
ftr-493	313	2	(	(	PUNCT
ftr-493	313	3	1991	1991	NUM
ftr-493	313	4	)	)	PUNCT
ftr-493	313	5	,	,	PUNCT
ftr-493	313	6	itself	itself	PRON
ftr-493	313	7	seems	seem	VERB
ftr-493	313	8	to	to	PART
ftr-493	313	9	distinguish	distinguish	VERB
ftr-493	313	10	between	between	ADP
ftr-493	313	11	net	net	ADJ
ftr-493	313	12	income	income	NOUN
ftr-493	313	13	or	or	CCONJ
ftr-493	313	14	deduction	deduction	NOUN
ftr-493	313	15	from	from	ADP
ftr-493	313	16	a	a	DET
ftr-493	313	17	swap	swap	NOUN
ftr-493	313	18	for	for	ADP
ftr-493	313	19	each	each	DET
ftr-493	313	20	taxable	taxable	ADJ
ftr-493	313	21	year	year	NOUN
ftr-493	313	22	and	and	CCONJ
ftr-493	313	23	the	the	DET
ftr-493	313	24	gain	gain	NOUN
ftr-493	313	25	or	or	CCONJ
ftr-493	313	26	loss	loss	NOUN
ftr-493	313	27	recognized	recognize	VERB
ftr-493	313	28	on	on	ADP
ftr-493	313	29	a	a	DET
ftr-493	313	30	sale	sale	NOUN
ftr-493	313	31	,	,	PUNCT
ftr-493	313	32	termination	termination	NOUN
ftr-493	313	33	,	,	PUNCT
ftr-493	313	34	assignment	assignment	NOUN
ftr-493	313	35	or	or	CCONJ
ftr-493	313	36	other	other	ADJ
ftr-493	313	37	disposition	disposition	NOUN
ftr-493	313	38	of	of	ADP
ftr-493	313	39	the	the	DET
ftr-493	313	40	swap	swap	NOUN
ftr-493	313	41	.	.	PUNCT
ftr-493	314	1	for	for	ADP
ftr-493	314	2	example	example	NOUN
ftr-493	314	3	,	,	PUNCT
ftr-493	314	4	ready	ready	ADJ
ftr-493	314	5	to	to	PART
ftr-493	314	6	enter	enter	VERB
ftr-493	314	7	into	into	ADP
ftr-493	314	8	these	these	DET
ftr-493	314	9	contracts	contract	NOUN
ftr-493	314	10	with	with	ADP
ftr-493	314	11	any	any	DET
ftr-493	314	12	qualified	qualified	ADJ
ftr-493	314	13	party	party	NOUN
ftr-493	314	14	at	at	ADP
ftr-493	314	15	any	any	DET
ftr-493	314	16	time	time	NOUN
ftr-493	314	17	.	.	PUNCT
ftr-493	315	1	46	46	NUM
ftr-493	315	2	.	.	PUNCT
ftr-493	316	1	the	the	DET
ftr-493	316	2	changes	change	NOUN
ftr-493	316	3	in	in	ADP
ftr-493	316	4	the	the	DET
ftr-493	316	5	present	present	ADJ
ftr-493	316	6	values	value	NOUN
ftr-493	316	7	of	of	ADP
ftr-493	316	8	the	the	DET
ftr-493	316	9	bond	bond	NOUN
ftr-493	316	10	and	and	CCONJ
ftr-493	316	11	swap	swap	NOUN
ftr-493	316	12	resulting	result	VERB
ftr-493	316	13	from	from	ADP
ftr-493	316	14	changes	change	NOUN
ftr-493	316	15	in	in	ADP
ftr-493	316	16	interest	interest	NOUN
ftr-493	316	17	rates	rate	NOUN
ftr-493	316	18	will	will	AUX
ftr-493	316	19	not	not	PART
ftr-493	316	20	be	be	AUX
ftr-493	316	21	exactly	exactly	ADV
ftr-493	316	22	offsetting	offsetting	ADJ
ftr-493	316	23	,	,	PUNCT
ftr-493	316	24	of	of	ADP
ftr-493	316	25	course	course	NOUN
ftr-493	316	26	,	,	PUNCT
ftr-493	316	27	since	since	SCONJ
ftr-493	316	28	a	a	PRON
ftr-493	316	29	is	be	AUX
ftr-493	316	30	entitled	entitle	VERB
ftr-493	316	31	to	to	PART
ftr-493	316	32	receive	receive	VERB
ftr-493	316	33	all	all	DET
ftr-493	316	34	the	the	DET
ftr-493	316	35	interest	interest	NOUN
ftr-493	316	36	and	and	CCONJ
ftr-493	316	37	principal	principal	NOUN
ftr-493	316	38	on	on	ADP
ftr-493	316	39	the	the	DET
ftr-493	316	40	bond	bond	NOUN
ftr-493	316	41	,	,	PUNCT
ftr-493	316	42	while	while	SCONJ
ftr-493	316	43	a	a	PRON
ftr-493	316	44	is	be	AUX
ftr-493	316	45	only	only	ADV
ftr-493	316	46	obligated	obligate	VERB
ftr-493	316	47	to	to	PART
ftr-493	316	48	pay	pay	VERB
ftr-493	316	49	over	over	ADP
ftr-493	316	50	amounts	amount	NOUN
ftr-493	316	51	under	under	ADP
ftr-493	316	52	the	the	DET
ftr-493	316	53	swap	swap	NOUN
ftr-493	316	54	equal	equal	ADJ
ftr-493	316	55	to	to	ADP
ftr-493	316	56	interest	interest	NOUN
ftr-493	316	57	and	and	CCONJ
ftr-493	316	58	the	the	DET
ftr-493	316	59	market	market	NOUN
ftr-493	316	60	discount	discount	NOUN
ftr-493	316	61	component	component	NOUN
ftr-493	316	62	of	of	ADP
ftr-493	316	63	the	the	DET
ftr-493	316	64	principal	principal	ADJ
ftr-493	316	65	payment	payment	NOUN
ftr-493	316	66	on	on	ADP
ftr-493	316	67	the	the	DET
ftr-493	316	68	bond	bond	NOUN
ftr-493	316	69	.	.	PUNCT
ftr-493	317	1	47	47	NUM
ftr-493	317	2	.	.	PUNCT
ftr-493	317	3	temp	temp	NOUN
ftr-493	317	4	.	.	PUNCT
ftr-493	318	1	regs	regs	PROPN
ftr-493	318	2	.	.	PUNCT
ftr-493	319	1	§	§	PROPN
ftr-493	319	2	1.1092(b)-5t(a	1.1092(b)-5t(a	NUM
ftr-493	319	3	)	)	PUNCT
ftr-493	319	4	.	.	PUNCT
ftr-493	320	1	[	[	X
ftr-493	320	2	vol	vol	NOUN
ftr-493	320	3	.	.	PUNCT
ftr-493	320	4	1:5	1:5	NUM
ftr-493	320	5	selected	select	VERB
ftr-493	320	6	issues	issue	NOUN
ftr-493	320	7	in	in	ADP
ftr-493	320	8	the	the	DET
ftr-493	320	9	taration	taration	NOUN
ftr-493	320	10	of	of	ADP
ftr-493	320	11	siwaps	siwap	NOUN
ftr-493	320	12	proposed	propose	VERB
ftr-493	320	13	regulations	regulation	NOUN
ftr-493	320	14	section	section	VERB
ftr-493	320	15	1.446	1.446	NUM
ftr-493	320	16	-	-	SYM
ftr-493	320	17	3(e)(1	3(e)(1	NUM
ftr-493	320	18	)	)	PUNCT
ftr-493	320	19	,	,	PUNCT
ftr-493	320	20	56	56	NUM
ftr-493	320	21	fed	feed	VERB
ftr-493	320	22	.	.	PUNCT
ftr-493	321	1	reg	reg	PROPN
ftr-493	321	2	.	.	PUNCT
ftr-493	322	1	31,350	31,350	NUM
ftr-493	322	2	(	(	PUNCT
ftr-493	322	3	1991	1991	NUM
ftr-493	322	4	)	)	PUNCT
ftr-493	322	5	,	,	PUNCT
ftr-493	322	6	states	state	VERB
ftr-493	322	7	that	that	SCONJ
ftr-493	322	8	the	the	DET
ftr-493	322	9	"	"	PUNCT
ftr-493	322	10	net	net	ADJ
ftr-493	322	11	income	income	NOUN
ftr-493	322	12	or	or	CCONJ
ftr-493	322	13	deduction	deduction	NOUN
ftr-493	322	14	from	from	ADP
ftr-493	322	15	a	a	DET
ftr-493	322	16	notional	notional	ADJ
ftr-493	322	17	principal	principal	ADJ
ftr-493	322	18	contract	contract	NOUN
ftr-493	322	19	for	for	ADP
ftr-493	322	20	a	a	DET
ftr-493	322	21	taxable	taxable	ADJ
ftr-493	322	22	year	year	NOUN
ftr-493	322	23	is	be	AUX
ftr-493	322	24	included	include	VERB
ftr-493	322	25	in	in	ADP
ftr-493	322	26	or	or	CCONJ
ftr-493	322	27	deducted	deduct	VERB
ftr-493	322	28	from	from	ADP
ftr-493	322	29	gross	gross	ADJ
ftr-493	322	30	income	income	NOUN
ftr-493	322	31	for	for	ADP
ftr-493	322	32	that	that	DET
ftr-493	322	33	taxable	taxable	ADJ
ftr-493	322	34	year	year	NOUN
ftr-493	322	35	.	.	PUNCT
ftr-493	322	36	"	"	PUNCT
ftr-493	323	1	throughout	throughout	ADP
ftr-493	323	2	the	the	DET
ftr-493	323	3	proposed	propose	VERB
ftr-493	323	4	regulations	regulation	NOUN
ftr-493	323	5	,	,	PUNCT
ftr-493	323	6	the	the	DET
ftr-493	323	7	phrase	phrase	NOUN
ftr-493	323	8	"	"	PUNCT
ftr-493	323	9	net	net	ADJ
ftr-493	323	10	income	income	NOUN
ftr-493	323	11	or	or	CCONJ
ftr-493	323	12	deduction	deduction	NOUN
ftr-493	323	13	"	"	PUNCT
ftr-493	323	14	is	be	AUX
ftr-493	323	15	used	use	VERB
ftr-493	323	16	to	to	PART
ftr-493	323	17	refer	refer	VERB
ftr-493	323	18	to	to	ADP
ftr-493	323	19	those	those	DET
ftr-493	323	20	taxable	taxable	ADJ
ftr-493	323	21	items	item	NOUN
ftr-493	323	22	arising	arise	VERB
ftr-493	323	23	from	from	ADP
ftr-493	323	24	payments	payment	NOUN
ftr-493	323	25	received	receive	VERB
ftr-493	323	26	or	or	CCONJ
ftr-493	323	27	made	make	VERB
ftr-493	323	28	according	accord	VERB
ftr-493	323	29	to	to	ADP
ftr-493	323	30	the	the	DET
ftr-493	323	31	terms	term	NOUN
ftr-493	323	32	of	of	ADP
ftr-493	323	33	the	the	DET
ftr-493	323	34	notional	notional	ADJ
ftr-493	323	35	principal	principal	ADJ
ftr-493	323	36	contract	contract	NOUN
ftr-493	323	37	itself	itself	PRON
ftr-493	323	38	.	.	PUNCT
ftr-493	324	1	in	in	ADP
ftr-493	324	2	the	the	DET
ftr-493	324	3	examples	example	NOUN
ftr-493	324	4	dealing	deal	VERB
ftr-493	324	5	with	with	ADP
ftr-493	324	6	the	the	DET
ftr-493	324	7	treatment	treatment	NOUN
ftr-493	324	8	of	of	ADP
ftr-493	324	9	"	"	PUNCT
ftr-493	324	10	termination	termination	NOUN
ftr-493	324	11	payments	payment	NOUN
ftr-493	324	12	"	"	PUNCT
ftr-493	324	13	(	(	PUNCT
ftr-493	324	14	i.e.	i.e.	X
ftr-493	324	15	,	,	PUNCT
ftr-493	324	16	payments	payment	NOUN
ftr-493	324	17	made	make	VERB
ftr-493	324	18	to	to	PART
ftr-493	324	19	extinguish	extinguish	VERB
ftr-493	324	20	or	or	CCONJ
ftr-493	324	21	assign	assign	VERB
ftr-493	324	22	a	a	DET
ftr-493	324	23	notional	notional	ADJ
ftr-493	324	24	principal	principal	ADJ
ftr-493	324	25	contract	contract	NOUN
ftr-493	324	26	)	)	PUNCT
ftr-493	324	27	,	,	PUNCT
ftr-493	324	28	however	however	ADV
ftr-493	324	29	,	,	PUNCT
ftr-493	324	30	the	the	DET
ftr-493	324	31	proposed	propose	VERB
ftr-493	324	32	regulations	regulation	NOUN
ftr-493	324	33	speak	speak	VERB
ftr-493	324	34	uniformly	uniformly	ADV
ftr-493	324	35	of	of	ADP
ftr-493	324	36	the	the	DET
ftr-493	324	37	parties	party	NOUN
ftr-493	324	38	recognizing	recognize	VERB
ftr-493	324	39	gain	gain	NOUN
ftr-493	324	40	or	or	CCONJ
ftr-493	324	41	loss	loss	NOUN
ftr-493	324	42	for	for	ADP
ftr-493	324	43	tax	tax	NOUN
ftr-493	324	44	purposes	purpose	NOUN
ftr-493	324	45	on	on	ADP
ftr-493	324	46	the	the	DET
ftr-493	324	47	termination	termination	NOUN
ftr-493	324	48	of	of	ADP
ftr-493	324	49	the	the	DET
ftr-493	324	50	notional	notional	ADJ
ftr-493	324	51	principal	principal	NOUN
ftr-493	324	52	contracl4	contracl4	PROPN
ftr-493	325	1	this	this	PRON
ftr-493	325	2	is	be	AUX
ftr-493	325	3	also	also	ADV
ftr-493	325	4	consistent	consistent	ADJ
ftr-493	325	5	with	with	ADP
ftr-493	325	6	other	other	ADJ
ftr-493	325	7	areas	area	NOUN
ftr-493	325	8	of	of	ADP
ftr-493	325	9	the	the	DET
ftr-493	325	10	tax	tax	NOUN
ftr-493	325	11	law	law	NOUN
ftr-493	325	12	.	.	PUNCT
ftr-493	326	1	for	for	ADP
ftr-493	326	2	example	example	NOUN
ftr-493	326	3	,	,	PUNCT
ftr-493	326	4	rental	rental	ADJ
ftr-493	326	5	expense	expense	NOUN
ftr-493	326	6	incurred	incur	VERB
ftr-493	326	7	by	by	ADP
ftr-493	326	8	a	a	DET
ftr-493	326	9	lessee	lessee	NOUN
ftr-493	326	10	would	would	AUX
ftr-493	326	11	generally	generally	ADV
ftr-493	326	12	not	not	PART
ftr-493	326	13	be	be	AUX
ftr-493	326	14	considered	consider	VERB
ftr-493	326	15	to	to	PART
ftr-493	326	16	be	be	AUX
ftr-493	326	17	a	a	DET
ftr-493	326	18	loss	loss	NOUN
ftr-493	326	19	with	with	ADP
ftr-493	326	20	respect	respect	NOUN
ftr-493	326	21	to	to	ADP
ftr-493	326	22	the	the	DET
ftr-493	326	23	lessee	lessee	NOUN
ftr-493	326	24	's	's	PART
ftr-493	326	25	leasehold	leasehold	NOUN
ftr-493	326	26	interest	interest	NOUN
ftr-493	326	27	.	.	PUNCT
ftr-493	327	1	rather	rather	ADV
ftr-493	327	2	,	,	PUNCT
ftr-493	327	3	the	the	DET
ftr-493	327	4	lessee	lessee	NOUN
ftr-493	327	5	would	would	AUX
ftr-493	327	6	generally	generally	ADV
ftr-493	327	7	be	be	AUX
ftr-493	327	8	considered	consider	VERB
ftr-493	327	9	to	to	PART
ftr-493	327	10	recognize	recognize	VERB
ftr-493	327	11	gain	gain	NOUN
ftr-493	327	12	or	or	CCONJ
ftr-493	327	13	loss	loss	NOUN
ftr-493	327	14	on	on	ADP
ftr-493	327	15	a	a	DET
ftr-493	327	16	disposition	disposition	NOUN
ftr-493	327	17	of	of	ADP
ftr-493	327	18	its	its	PRON
ftr-493	327	19	leasehold	leasehold	NOUN
ftr-493	327	20	interest	interest	NOUN
ftr-493	327	21	.	.	PUNCT
ftr-493	328	1	thus	thus	ADV
ftr-493	328	2	,	,	PUNCT
ftr-493	328	3	it	it	PRON
ftr-493	328	4	appears	appear	VERB
ftr-493	328	5	to	to	PART
ftr-493	328	6	be	be	AUX
ftr-493	328	7	a	a	DET
ftr-493	328	8	"	"	PUNCT
ftr-493	328	9	stretch	stretch	NOUN
ftr-493	328	10	"	"	PUNCT
ftr-493	328	11	to	to	PART
ftr-493	328	12	treat	treat	VERB
ftr-493	328	13	the	the	DET
ftr-493	328	14	net	net	ADJ
ftr-493	328	15	deductions	deduction	NOUN
ftr-493	328	16	from	from	ADP
ftr-493	328	17	a	a	DET
ftr-493	328	18	swap	swap	NOUN
ftr-493	328	19	as	as	ADP
ftr-493	328	20	losses	loss	NOUN
ftr-493	328	21	for	for	ADP
ftr-493	328	22	purposes	purpose	NOUN
ftr-493	328	23	of	of	ADP
ftr-493	328	24	section	section	NOUN
ftr-493	328	25	1092.49	1092.49	NUM
ftr-493	328	26	finally	finally	ADV
ftr-493	328	27	,	,	PUNCT
ftr-493	328	28	perhaps	perhaps	ADV
ftr-493	328	29	proposed	propose	VERB
ftr-493	328	30	regulations	regulation	NOUN
ftr-493	328	31	section	section	VERB
ftr-493	328	32	1.446	1.446	NUM
ftr-493	328	33	-	-	SYM
ftr-493	328	34	3(e)(4)(ii	3(e)(4)(ii	NUM
ftr-493	328	35	)	)	PUNCT
ftr-493	328	36	applies	apply	VERB
ftr-493	328	37	to	to	PART
ftr-493	328	38	disallow	disallow	VERB
ftr-493	328	39	all	all	PRON
ftr-493	328	40	or	or	CCONJ
ftr-493	328	41	a	a	DET
ftr-493	328	42	portion	portion	NOUN
ftr-493	328	43	of	of	ADP
ftr-493	328	44	the	the	DET
ftr-493	328	45	deductions	deduction	NOUN
ftr-493	328	46	with	with	ADP
ftr-493	328	47	respect	respect	NOUN
ftr-493	328	48	to	to	ADP
ftr-493	328	49	a	a	PRON
ftr-493	328	50	's	's	PART
ftr-493	328	51	obligations	obligation	NOUN
ftr-493	328	52	to	to	PART
ftr-493	328	53	make	make	VERB
ftr-493	328	54	fixed	fix	VERB
ftr-493	328	55	payments	payment	NOUN
ftr-493	328	56	under	under	ADP
ftr-493	328	57	the	the	DET
ftr-493	328	58	interest	interest	NOUN
ftr-493	328	59	rate	rate	NOUN
ftr-493	328	60	swap	swap	NOUN
ftr-493	328	61	.	.	PUNCT
ftr-493	329	1	that	that	DET
ftr-493	329	2	regulation	regulation	NOUN
ftr-493	329	3	provides	provide	VERB
ftr-493	329	4	that	that	SCONJ
ftr-493	329	5	"	"	PUNCT
ftr-493	329	6	the	the	DET
ftr-493	329	7	commissioner	commissioner	NOUN
ftr-493	329	8	may	may	AUX
ftr-493	329	9	require	require	VERB
ftr-493	329	10	that	that	SCONJ
ftr-493	329	11	amounts	amount	NOUN
ftr-493	329	12	paid	pay	VERB
ftr-493	329	13	to	to	ADP
ftr-493	329	14	or	or	CCONJ
ftr-493	329	15	received	receive	VERB
ftr-493	329	16	by	by	ADP
ftr-493	329	17	the	the	DET
ftr-493	329	18	taxpayer	taxpayer	NOUN
ftr-493	329	19	under	under	ADP
ftr-493	329	20	...	...	PUNCT
ftr-493	330	1	[	[	X
ftr-493	330	2	a	a	X
ftr-493	330	3	]	]	X
ftr-493	330	4	notional	notional	ADJ
ftr-493	330	5	principal	principal	ADJ
ftr-493	330	6	contract	contract	NOUN
ftr-493	330	7	"	"	PUNCT
ftr-493	330	8	that	that	PRON
ftr-493	330	9	is	be	AUX
ftr-493	330	10	hedged	hedge	VERB
ftr-493	330	11	by	by	ADP
ftr-493	330	12	the	the	DET
ftr-493	330	13	taxpayer	taxpayer	NOUN
ftr-493	330	14	's	's	PART
ftr-493	330	15	"	"	PUNCT
ftr-493	330	16	purchasing	purchasing	NOUN
ftr-493	330	17	,	,	PUNCT
ftr-493	330	18	selling	selling	NOUN
ftr-493	330	19	or	or	CCONJ
ftr-493	330	20	otherwise	otherwise	ADV
ftr-493	330	21	entering	enter	VERB
ftr-493	330	22	into	into	ADP
ftr-493	330	23	other	other	ADJ
ftr-493	330	24	notional	notional	ADJ
ftr-493	330	25	principal	principal	ADJ
ftr-493	330	26	contracts	contract	NOUN
ftr-493	330	27	,	,	PUNCT
ftr-493	330	28	futures	future	NOUN
ftr-493	330	29	,	,	PUNCT
ftr-493	330	30	forwards	forward	NOUN
ftr-493	330	31	or	or	CCONJ
ftr-493	330	32	other	other	ADJ
ftr-493	330	33	financial	financial	ADJ
ftr-493	330	34	instruments	instrument	NOUN
ftr-493	330	35	be	be	AUX
ftr-493	330	36	treated	treat	VERB
ftr-493	330	37	in	in	ADP
ftr-493	330	38	a	a	DET
ftr-493	330	39	manner	manner	NOUN
ftr-493	330	40	that	that	PRON
ftr-493	330	41	is	be	AUX
ftr-493	330	42	consistent	consistent	ADJ
ftr-493	330	43	with	with	ADP
ftr-493	330	44	the	the	DET
ftr-493	330	45	economic	economic	ADJ
ftr-493	330	46	substance	substance	NOUN
ftr-493	330	47	of	of	ADP
ftr-493	330	48	the	the	DET
ftr-493	330	49	transaction	transaction	NOUN
ftr-493	330	50	as	as	ADP
ftr-493	330	51	a	a	DET
ftr-493	330	52	whole	whole	NOUN
ftr-493	330	53	.	.	PUNCT
ftr-493	331	1	"	"	PUNCT
ftr-493	331	2	'	'	PUNCT
ftr-493	331	3	0	0	PUNCT
ftr-493	331	4	perhaps	perhaps	ADV
ftr-493	331	5	,	,	PUNCT
ftr-493	331	6	the	the	DET
ftr-493	331	7	service	service	NOUN
ftr-493	331	8	could	could	AUX
ftr-493	331	9	exercise	exercise	VERB
ftr-493	331	10	its	its	PRON
ftr-493	331	11	authority	authority	NOUN
ftr-493	331	12	under	under	ADP
ftr-493	331	13	this	this	DET
ftr-493	331	14	48	48	NUM
ftr-493	331	15	.	.	PUNCT
ftr-493	332	1	prop	prop	NOUN
ftr-493	332	2	.	.	PUNCT
ftr-493	332	3	regs	regs	PROPN
ftr-493	332	4	.	.	PUNCT
ftr-493	333	1	§	§	PROPN
ftr-493	333	2	1.446	1.446	NUM
ftr-493	333	3	-	-	SYM
ftr-493	333	4	3(e)(6)(vi	3(e)(6)(vi	NUM
ftr-493	333	5	)	)	PUNCT
ftr-493	333	6	ex	ex	NOUN
ftr-493	333	7	.	.	NOUN
ftr-493	333	8	1	1	NUM
ftr-493	333	9	-	-	SYM
ftr-493	333	10	3	3	NUM
ftr-493	333	11	.	.	NUM
ftr-493	333	12	56	56	NUM
ftr-493	334	1	fed	fed	PROPN
ftr-493	334	2	.	.	PUNCT
ftr-493	335	1	reg	reg	PROPN
ftr-493	335	2	.	.	PUNCT
ftr-493	336	1	31,350	31,350	NUM
ftr-493	336	2	(	(	PUNCT
ftr-493	336	3	1991	1991	NUM
ftr-493	336	4	)	)	PUNCT
ftr-493	336	5	.	.	PUNCT
ftr-493	337	1	it	it	PRON
ftr-493	337	2	is	be	AUX
ftr-493	337	3	perhaps	perhaps	ADV
ftr-493	337	4	significant	significant	ADJ
ftr-493	337	5	that	that	SCONJ
ftr-493	337	6	the	the	DET
ftr-493	337	7	only	only	ADJ
ftr-493	337	8	reference	reference	NOUN
ftr-493	337	9	to	to	ADP
ftr-493	337	10	section	section	NOUN
ftr-493	337	11	1092	1092	NUM
ftr-493	337	12	in	in	ADP
ftr-493	337	13	proposed	propose	VERB
ftr-493	337	14	regulations	regulation	NOUN
ftr-493	337	15	section	section	NOUN
ftr-493	337	16	1.446	1.446	NUM
ftr-493	337	17	-	-	SYM
ftr-493	337	18	3	3	NUM
ftr-493	337	19	is	be	AUX
ftr-493	337	20	in	in	ADP
ftr-493	337	21	the	the	DET
ftr-493	337	22	context	context	NOUN
ftr-493	337	23	of	of	ADP
ftr-493	337	24	terminations	termination	NOUN
ftr-493	337	25	of	of	ADP
ftr-493	337	26	notional	notional	ADJ
ftr-493	337	27	principal	principal	ADJ
ftr-493	337	28	contracts	contract	NOUN
ftr-493	337	29	.	.	PUNCT
ftr-493	338	1	49	49	NUM
ftr-493	338	2	.	.	PUNCT
ftr-493	339	1	section	section	NOUN
ftr-493	339	2	1092	1092	NUM
ftr-493	339	3	would	would	AUX
ftr-493	339	4	,	,	PUNCT
ftr-493	339	5	of	of	ADP
ftr-493	339	6	course	course	NOUN
ftr-493	339	7	,	,	PUNCT
ftr-493	339	8	still	still	ADV
ftr-493	339	9	potentially	potentially	ADV
ftr-493	339	10	apply	apply	VERB
ftr-493	339	11	to	to	PART
ftr-493	339	12	defer	defer	VERB
ftr-493	339	13	losses	loss	NOUN
ftr-493	339	14	arising	arise	VERB
ftr-493	339	15	on	on	ADP
ftr-493	339	16	the	the	DET
ftr-493	339	17	termination	termination	NOUN
ftr-493	339	18	of	of	ADP
ftr-493	339	19	a	a	DET
ftr-493	339	20	swap	swap	NOUN
ftr-493	339	21	.	.	PUNCT
ftr-493	340	1	arguably	arguably	ADV
ftr-493	340	2	,	,	PUNCT
ftr-493	340	3	the	the	DET
ftr-493	340	4	language	language	NOUN
ftr-493	340	5	of	of	ADP
ftr-493	340	6	the	the	DET
ftr-493	340	7	preamble	preamble	NOUN
ftr-493	340	8	to	to	ADP
ftr-493	340	9	the	the	DET
ftr-493	340	10	proposed	propose	VERB
ftr-493	340	11	section	section	NOUN
ftr-493	340	12	1092	1092	NUM
ftr-493	340	13	regulations	regulation	NOUN
ftr-493	340	14	,	,	PUNCT
ftr-493	340	15	56	56	NUM
ftr-493	340	16	fed	feed	VERB
ftr-493	340	17	.	.	PUNCT
ftr-493	341	1	reg	reg	PROPN
ftr-493	341	2	.	.	PUNCT
ftr-493	342	1	31,350	31,350	NUM
ftr-493	342	2	(	(	PUNCT
ftr-493	342	3	1991	1991	NUM
ftr-493	342	4	)	)	PUNCT
ftr-493	342	5	,	,	PUNCT
ftr-493	342	6	suggests	suggest	VERB
ftr-493	342	7	the	the	DET
ftr-493	342	8	service	service	NOUN
ftr-493	342	9	intended	intend	VERB
ftr-493	342	10	that	that	SCONJ
ftr-493	342	11	section	section	NOUN
ftr-493	342	12	1092	1092	NUM
ftr-493	342	13	cover	cover	NOUN
ftr-493	342	14	cases	case	NOUN
ftr-493	342	15	other	other	ADJ
ftr-493	342	16	than	than	ADP
ftr-493	342	17	those	those	PRON
ftr-493	342	18	arising	arise	VERB
ftr-493	342	19	on	on	ADP
ftr-493	342	20	a	a	DET
ftr-493	342	21	termination	termination	NOUN
ftr-493	342	22	of	of	ADP
ftr-493	342	23	a	a	DET
ftr-493	342	24	notional	notional	ADJ
ftr-493	342	25	principal	principal	ADJ
ftr-493	342	26	contract	contract	NOUN
ftr-493	342	27	.	.	PUNCT
ftr-493	343	1	the	the	DET
ftr-493	343	2	preamble	preamble	ADJ
ftr-493	343	3	states	state	NOUN
ftr-493	343	4	:	:	PUNCT
ftr-493	343	5	thus	thus	ADV
ftr-493	343	6	,	,	PUNCT
ftr-493	343	7	under	under	ADP
ftr-493	343	8	the	the	DET
ftr-493	343	9	proposed	propose	VERB
ftr-493	343	10	regulations	regulation	NOUN
ftr-493	343	11	,	,	PUNCT
ftr-493	343	12	a	a	DET
ftr-493	343	13	loss	loss	NOUN
ftr-493	343	14	realized	realize	VERB
ftr-493	343	15	with	with	ADP
ftr-493	343	16	respect	respect	NOUN
ftr-493	343	17	to	to	ADP
ftr-493	343	18	a	a	DET
ftr-493	343	19	notional	notional	ADJ
ftr-493	343	20	principal	principal	ADJ
ftr-493	343	21	contract	contract	NOUN
ftr-493	343	22	would	would	AUX
ftr-493	343	23	not	not	PART
ftr-493	343	24	be	be	AUX
ftr-493	343	25	recognized	recognize	VERB
ftr-493	343	26	under	under	ADP
ftr-493	343	27	section	section	NOUN
ftr-493	343	28	1092(a	1092(a	NOUN
ftr-493	343	29	)	)	PUNCT
ftr-493	343	30	to	to	ADP
ftr-493	343	31	the	the	DET
ftr-493	343	32	extent	extent	NOUN
ftr-493	343	33	the	the	DET
ftr-493	343	34	taxpayer	taxpayer	NOUN
ftr-493	343	35	has	have	VERB
ftr-493	343	36	an	an	DET
ftr-493	343	37	unrecognized	unrecognized	ADJ
ftr-493	343	38	gain	gain	NOUN
ftr-493	343	39	in	in	ADP
ftr-493	343	40	one	one	NUM
ftr-493	343	41	or	or	CCONJ
ftr-493	343	42	more	more	ADV
ftr-493	343	43	offsetting	offsetting	ADJ
ftr-493	343	44	positions	position	NOUN
ftr-493	343	45	.	.	PUNCT
ftr-493	344	1	further	far	ADV
ftr-493	344	2	,	,	PUNCT
ftr-493	344	3	the	the	DET
ftr-493	344	4	gain	gain	NOUN
ftr-493	344	5	or	or	CCONJ
ftr-493	344	6	loss	loss	NOUN
ftr-493	344	7	realized	realize	VERB
ftr-493	344	8	through	through	ADP
ftr-493	344	9	the	the	DET
ftr-493	344	10	termination	termination	NOUN
ftr-493	344	11	(	(	PUNCT
ftr-493	344	12	through	through	ADP
ftr-493	344	13	extinguishment	extinguishment	NOUN
ftr-493	344	14	or	or	CCONJ
ftr-493	344	15	assignment	assignment	NOUN
ftr-493	344	16	)	)	PUNCT
ftr-493	344	17	of	of	ADP
ftr-493	344	18	a	a	DET
ftr-493	344	19	taxpayer	taxpayer	NOUN
ftr-493	344	20	's	's	PART
ftr-493	344	21	rights	right	NOUN
ftr-493	344	22	and	and	CCONJ
ftr-493	344	23	obligations	obligation	NOUN
ftr-493	344	24	under	under	ADP
ftr-493	344	25	a	a	DET
ftr-493	344	26	notional	notional	ADJ
ftr-493	344	27	principal	principal	ADJ
ftr-493	344	28	contract	contract	NOUN
ftr-493	344	29	would	would	AUX
ftr-493	344	30	generally	generally	ADV
ftr-493	344	31	be	be	AUX
ftr-493	344	32	treated	treat	VERB
ftr-493	344	33	as	as	ADP
ftr-493	344	34	gain	gain	NOUN
ftr-493	344	35	or	or	CCONJ
ftr-493	344	36	loss	loss	NOUN
ftr-493	344	37	from	from	ADP
ftr-493	344	38	the	the	DET
ftr-493	344	39	sale	sale	NOUN
ftr-493	344	40	of	of	ADP
ftr-493	344	41	a	a	DET
ftr-493	344	42	capital	capital	NOUN
ftr-493	344	43	asset	asset	NOUN
ftr-493	344	44	under	under	ADP
ftr-493	344	45	section	section	NOUN
ftr-493	344	46	1234a	1234a	NUM
ftr-493	344	47	.	.	PUNCT
ftr-493	345	1	query	query	NOUN
ftr-493	345	2	whether	whether	SCONJ
ftr-493	345	3	the	the	DET
ftr-493	345	4	reference	reference	NOUN
ftr-493	345	5	to	to	PART
ftr-493	345	6	gain	gain	VERB
ftr-493	345	7	or	or	CCONJ
ftr-493	345	8	loss	loss	NOUN
ftr-493	345	9	"	"	PUNCT
ftr-493	345	10	realized	realize	VERB
ftr-493	345	11	through	through	ADP
ftr-493	345	12	termination.found	termination.found	PRON
ftr-493	345	13	in	in	ADP
ftr-493	345	14	the	the	DET
ftr-493	345	15	second	second	ADJ
ftr-493	345	16	sentence	sentence	NOUN
ftr-493	345	17	but	but	CCONJ
ftr-493	345	18	not	not	PART
ftr-493	345	19	the	the	DET
ftr-493	345	20	first	first	ADJ
ftr-493	345	21	,	,	PUNCT
ftr-493	345	22	is	be	AUX
ftr-493	345	23	intended	intend	VERB
ftr-493	345	24	to	to	PART
ftr-493	345	25	imply	imply	VERB
ftr-493	345	26	that	that	SCONJ
ftr-493	345	27	there	there	PRON
ftr-493	345	28	are	be	VERB
ftr-493	345	29	gains	gain	NOUN
ftr-493	345	30	or	or	CCONJ
ftr-493	345	31	losses	loss	NOUN
ftr-493	345	32	that	that	PRON
ftr-493	345	33	arise	arise	VERB
ftr-493	345	34	other	other	ADJ
ftr-493	345	35	than	than	ADP
ftr-493	345	36	through	through	ADP
ftr-493	345	37	terminations	termination	NOUN
ftr-493	345	38	of	of	ADP
ftr-493	345	39	notional	notional	ADJ
ftr-493	345	40	principal	principal	ADJ
ftr-493	345	41	contracts	contract	NOUN
ftr-493	345	42	.	.	PUNCT
ftr-493	346	1	50	50	NUM
ftr-493	346	2	.	.	PUNCT
ftr-493	346	3	prop	prop	NOUN
ftr-493	346	4	.	.	PUNCT
ftr-493	346	5	regs	regs	PROPN
ftr-493	346	6	.	.	PUNCT
ftr-493	347	1	§	§	PROPN
ftr-493	347	2	1.446	1.446	NUM
ftr-493	347	3	-	-	SYM
ftr-493	347	4	3(e)(4)(ii	3(e)(4)(ii	NUM
ftr-493	347	5	)	)	PUNCT
ftr-493	347	6	,	,	PUNCT
ftr-493	347	7	56	56	NUM
ftr-493	347	8	fed	feed	VERB
ftr-493	347	9	.	.	PUNCT
ftr-493	348	1	reg	reg	PROPN
ftr-493	348	2	.	.	PUNCT
ftr-493	349	1	31.350	31.350	NUM
ftr-493	349	2	(	(	PUNCT
ftr-493	349	3	1991	1991	NUM
ftr-493	349	4	)	)	PUNCT
ftr-493	349	5	(	(	PUNCT
ftr-493	349	6	emphasis	emphasis	NOUN
ftr-493	349	7	added	add	VERB
ftr-493	349	8	)	)	PUNCT
ftr-493	349	9	.	.	PUNCT
ftr-493	350	1	19931	19931	NUM
ftr-493	350	2	florida	florida	PROPN
ftr-493	350	3	tax	tax	NOUN
ftr-493	350	4	review	review	NOUN
ftr-493	350	5	regulation	regulation	NOUN
ftr-493	350	6	by	by	ADP
ftr-493	350	7	requiring	require	VERB
ftr-493	350	8	that	that	SCONJ
ftr-493	350	9	a	a	DET
ftr-493	350	10	integrate	integrate	VERB
ftr-493	350	11	the	the	DET
ftr-493	350	12	market	market	NOUN
ftr-493	350	13	discount	discount	NOUN
ftr-493	350	14	(	(	PUNCT
ftr-493	350	15	or	or	CCONJ
ftr-493	350	16	tax	tax	NOUN
ftr-493	350	17	-	-	PUNCT
ftr-493	350	18	exempt	exempt	ADJ
ftr-493	350	19	)	)	PUNCT
ftr-493	350	20	bond	bond	NOUN
ftr-493	350	21	and	and	CCONJ
ftr-493	350	22	the	the	DET
ftr-493	350	23	swap	swap	NOUN
ftr-493	350	24	to	to	PART
ftr-493	350	25	create	create	VERB
ftr-493	350	26	a	a	DET
ftr-493	350	27	(	(	PUNCT
ftr-493	350	28	fully	fully	ADV
ftr-493	350	29	taxable	taxable	ADJ
ftr-493	350	30	)	)	PUNCT
ftr-493	350	31	libor	libor	PROPN
ftr-493	350	32	-	-	PUNCT
ftr-493	350	33	based	base	VERB
ftr-493	350	34	synthetic	synthetic	ADJ
ftr-493	350	35	debt	debt	NOUN
ftr-493	350	36	obligation	obligation	NOUN
ftr-493	350	37	.	.	PUNCT
ftr-493	351	1	nevertheless	nevertheless	ADV
ftr-493	351	2	,	,	PUNCT
ftr-493	351	3	it	it	PRON
ftr-493	351	4	is	be	AUX
ftr-493	351	5	doubtful	doubtful	ADJ
ftr-493	351	6	that	that	SCONJ
ftr-493	351	7	proposed	propose	VERB
ftr-493	351	8	regulations	regulation	NOUN
ftr-493	351	9	section	section	NOUN
ftr-493	351	10	1.4463(e)(4)(ii	1.4463(e)(4)(ii	NUM
ftr-493	351	11	)	)	PUNCT
ftr-493	351	12	should	should	AUX
ftr-493	351	13	be	be	AUX
ftr-493	351	14	applied	apply	VERB
ftr-493	351	15	in	in	ADP
ftr-493	351	16	this	this	DET
ftr-493	351	17	fashion	fashion	NOUN
ftr-493	351	18	.	.	PUNCT
ftr-493	352	1	few	few	ADJ
ftr-493	352	2	endusers	enduser	NOUN
ftr-493	352	3	of	of	ADP
ftr-493	352	4	interest	interest	NOUN
ftr-493	352	5	rate	rate	NOUN
ftr-493	352	6	swaps	swap	NOUN
ftr-493	352	7	ever	ever	ADV
ftr-493	352	8	enter	enter	VERB
ftr-493	352	9	into	into	ADP
ftr-493	352	10	unhedged	unhedged	ADJ
ftr-493	352	11	,	,	PUNCT
ftr-493	352	12	naked	naked	ADJ
ftr-493	352	13	swap	swap	NOUN
ftr-493	352	14	positions	position	NOUN
ftr-493	352	15	:	:	PUNCT
ftr-493	352	16	interest	interest	NOUN
ftr-493	352	17	rate	rate	NOUN
ftr-493	352	18	swaps	swap	NOUN
ftr-493	352	19	are	be	AUX
ftr-493	352	20	almost	almost	ADV
ftr-493	352	21	always	always	ADV
ftr-493	352	22	used	use	VERB
ftr-493	352	23	as	as	ADP
ftr-493	352	24	part	part	NOUN
ftr-493	352	25	of	of	ADP
ftr-493	352	26	a	a	DET
ftr-493	352	27	liability	liability	NOUN
ftr-493	352	28	or	or	CCONJ
ftr-493	352	29	asset	asset	NOUN
ftr-493	352	30	-	-	PUNCT
ftr-493	352	31	based	base	VERB
ftr-493	352	32	strategy	strategy	NOUN
ftr-493	352	33	and	and	CCONJ
ftr-493	352	34	are	be	AUX
ftr-493	352	35	therefore	therefore	ADV
ftr-493	352	36	hedged	hedge	VERB
ftr-493	352	37	by	by	ADP
ftr-493	352	38	some	some	DET
ftr-493	352	39	other	other	ADJ
ftr-493	352	40	(	(	PUNCT
ftr-493	352	41	long	long	ADJ
ftr-493	352	42	or	or	CCONJ
ftr-493	352	43	short	short	ADJ
ftr-493	352	44	)	)	PUNCT
ftr-493	352	45	position	position	NOUN
ftr-493	352	46	held	hold	VERB
ftr-493	352	47	by	by	ADP
ftr-493	352	48	the	the	DET
ftr-493	352	49	taxpayer.5	taxpayer.5	PROPN
ftr-493	352	50	thus	thus	ADV
ftr-493	352	51	,	,	PUNCT
ftr-493	352	52	unless	unless	SCONJ
ftr-493	352	53	proposed	propose	VERB
ftr-493	352	54	regulations	regulation	NOUN
ftr-493	352	55	section	section	VERB
ftr-493	352	56	1.446	1.446	NUM
ftr-493	352	57	-	-	SYM
ftr-493	352	58	3(e)(4)(ii	3(e)(4)(ii	NUM
ftr-493	352	59	)	)	PUNCT
ftr-493	352	60	was	be	AUX
ftr-493	352	61	designed	design	VERB
ftr-493	352	62	to	to	PART
ftr-493	352	63	swallow	swallow	VERB
ftr-493	352	64	up	up	ADP
ftr-493	352	65	the	the	DET
ftr-493	352	66	more	more	ADV
ftr-493	352	67	detailed	detailed	ADJ
ftr-493	352	68	tax	tax	NOUN
ftr-493	352	69	accounting	accounting	NOUN
ftr-493	352	70	rules	rule	NOUN
ftr-493	352	71	set	set	VERB
ftr-493	352	72	forth	forth	ADP
ftr-493	352	73	in	in	ADP
ftr-493	352	74	the	the	DET
ftr-493	352	75	other	other	ADJ
ftr-493	352	76	provisions	provision	NOUN
ftr-493	352	77	of	of	ADP
ftr-493	352	78	proposed	propose	VERB
ftr-493	352	79	regulations	regulation	NOUN
ftr-493	352	80	section	section	NOUN
ftr-493	352	81	1.446	1.446	NUM
ftr-493	352	82	-	-	SYM
ftr-493	352	83	3	3	NUM
ftr-493	352	84	,	,	PUNCT
ftr-493	352	85	it	it	PRON
ftr-493	352	86	is	be	AUX
ftr-493	352	87	unlikely	unlikely	ADJ
ftr-493	352	88	that	that	SCONJ
ftr-493	352	89	the	the	DET
ftr-493	352	90	regulation	regulation	NOUN
ftr-493	352	91	was	be	AUX
ftr-493	352	92	intended	intend	VERB
ftr-493	352	93	to	to	PART
ftr-493	352	94	apply	apply	VERB
ftr-493	352	95	to	to	PART
ftr-493	352	96	integrate	integrate	VERB
ftr-493	352	97	swaps	swap	NOUN
ftr-493	352	98	and	and	CCONJ
ftr-493	352	99	the	the	DET
ftr-493	352	100	assets	asset	NOUN
ftr-493	352	101	or	or	CCONJ
ftr-493	352	102	liabilities	liability	NOUN
ftr-493	352	103	that	that	PRON
ftr-493	352	104	they	they	PRON
ftr-493	352	105	hedge	hedge	VERB
ftr-493	352	106	for	for	ADP
ftr-493	352	107	purposes	purpose	NOUN
ftr-493	352	108	of	of	ADP
ftr-493	352	109	determining	determine	VERB
ftr-493	352	110	the	the	DET
ftr-493	352	111	taxpayer	taxpayer	NOUN
ftr-493	352	112	's	's	PART
ftr-493	352	113	taxable	taxable	ADJ
ftr-493	352	114	income.52	income.52	NOUN
ftr-493	352	115	this	this	DET
ftr-493	352	116	interpretation	interpretation	NOUN
ftr-493	352	117	of	of	ADP
ftr-493	352	118	the	the	DET
ftr-493	352	119	purpose	purpose	NOUN
ftr-493	352	120	of	of	ADP
ftr-493	352	121	the	the	DET
ftr-493	352	122	provision	provision	NOUN
ftr-493	352	123	is	be	AUX
ftr-493	352	124	supported	support	VERB
ftr-493	352	125	by	by	ADP
ftr-493	352	126	the	the	DET
ftr-493	352	127	language	language	NOUN
ftr-493	352	128	of	of	ADP
ftr-493	352	129	the	the	DET
ftr-493	352	130	regulation	regulation	NOUN
ftr-493	352	131	itself	itself	PRON
ftr-493	352	132	,	,	PUNCT
ftr-493	352	133	as	as	ADV
ftr-493	352	134	well	well	ADV
ftr-493	352	135	as	as	ADP
ftr-493	352	136	the	the	DET
ftr-493	352	137	examples	example	NOUN
ftr-493	352	138	in	in	ADP
ftr-493	352	139	proposed	propose	VERB
ftr-493	352	140	regulations	regulation	NOUN
ftr-493	352	141	section	section	NOUN
ftr-493	352	142	1.446	1.446	NUM
ftr-493	352	143	-	-	SYM
ftr-493	352	144	3(e)(4)(v	3(e)(4)(v	NUM
ftr-493	352	145	)	)	PUNCT
ftr-493	352	146	illustrating	illustrate	VERB
ftr-493	352	147	its	its	PRON
ftr-493	352	148	application	application	NOUN
ftr-493	352	149	.	.	PUNCT
ftr-493	353	1	the	the	DET
ftr-493	353	2	regulation	regulation	NOUN
ftr-493	353	3	speaks	speak	VERB
ftr-493	353	4	of	of	ADP
ftr-493	353	5	treating	treat	VERB
ftr-493	353	6	the	the	DET
ftr-493	353	7	"	"	PUNCT
ftr-493	353	8	amounts	amount	NOUN
ftr-493	353	9	paid	pay	VERB
ftr-493	353	10	to	to	ADP
ftr-493	353	11	or	or	CCONJ
ftr-493	353	12	received	receive	VERB
ftr-493	353	13	by	by	ADP
ftr-493	353	14	the	the	DET
ftr-493	353	15	taxpayer	taxpayer	NOUN
ftr-493	353	16	under	under	ADP
ftr-493	353	17	the	the	DET
ftr-493	353	18	notional	notional	ADJ
ftr-493	353	19	principal	principal	ADJ
ftr-493	353	20	contract	contract	NOUN
ftr-493	353	21	"	"	PUNCT
ftr-493	353	22	in	in	ADP
ftr-493	353	23	accordance	accordance	NOUN
ftr-493	353	24	with	with	ADP
ftr-493	353	25	their	their	PRON
ftr-493	353	26	economic	economic	ADJ
ftr-493	353	27	substance	substance	NOUN
ftr-493	353	28	.	.	PUNCT
ftr-493	354	1	the	the	DET
ftr-493	354	2	implication	implication	NOUN
ftr-493	354	3	is	be	AUX
ftr-493	354	4	that	that	SCONJ
ftr-493	354	5	certain	certain	ADJ
ftr-493	354	6	payments	payment	NOUN
ftr-493	354	7	that	that	PRON
ftr-493	354	8	are	be	AUX
ftr-493	354	9	purportedly	purportedly	ADV
ftr-493	354	10	made	make	VERB
ftr-493	354	11	pursuant	pursuant	ADJ
ftr-493	354	12	to	to	ADP
ftr-493	354	13	a	a	DET
ftr-493	354	14	notional	notional	ADJ
ftr-493	354	15	principal	principal	ADJ
ftr-493	354	16	contract	contract	NOUN
ftr-493	354	17	may	may	AUX
ftr-493	354	18	be	be	AUX
ftr-493	354	19	recharacterized	recharacterize	VERB
ftr-493	354	20	as	as	ADP
ftr-493	354	21	something	something	PRON
ftr-493	354	22	else	else	ADV
ftr-493	354	23	if	if	SCONJ
ftr-493	354	24	,	,	PUNCT
ftr-493	354	25	given	give	VERB
ftr-493	354	26	the	the	DET
ftr-493	354	27	overall	overall	ADJ
ftr-493	354	28	transaction	transaction	NOUN
ftr-493	354	29	,	,	PUNCT
ftr-493	354	30	they	they	PRON
ftr-493	354	31	are	be	AUX
ftr-493	354	32	more	more	ADV
ftr-493	354	33	properly	properly	ADV
ftr-493	354	34	characterized	characterize	VERB
ftr-493	354	35	as	as	ADP
ftr-493	354	36	such.53	such.53	NOUN
ftr-493	354	37	for	for	ADP
ftr-493	354	38	example	example	NOUN
ftr-493	354	39	,	,	PUNCT
ftr-493	354	40	example	example	NOUN
ftr-493	354	41	4	4	NUM
ftr-493	354	42	of	of	ADP
ftr-493	354	43	proposed	propose	VERB
ftr-493	354	44	51	51	NUM
ftr-493	354	45	.	.	PUNCT
ftr-493	355	1	see	see	VERB
ftr-493	355	2	preamble	preamble	NOUN
ftr-493	355	3	to	to	PART
ftr-493	355	4	prop	prop	VERB
ftr-493	355	5	.	.	PUNCT
ftr-493	356	1	regs	regs	PROPN
ftr-493	356	2	.	.	PUNCT
ftr-493	357	1	§	§	PROPN
ftr-493	357	2	1.446	1.446	NUM
ftr-493	357	3	-	-	SYM
ftr-493	357	4	3	3	NUM
ftr-493	357	5	,	,	PUNCT
ftr-493	357	6	56	56	NUM
ftr-493	357	7	fed	feed	VERB
ftr-493	357	8	.	.	PUNCT
ftr-493	358	1	reg	reg	PROPN
ftr-493	358	2	.	.	PUNCT
ftr-493	359	1	31,350	31,350	NUM
ftr-493	359	2	(	(	PUNCT
ftr-493	359	3	1991	1991	NUM
ftr-493	359	4	)	)	PUNCT
ftr-493	359	5	(	(	PUNCT
ftr-493	359	6	"	"	PUNCT
ftr-493	359	7	the	the	DET
ftr-493	359	8	service	service	NOUN
ftr-493	359	9	is	be	AUX
ftr-493	359	10	aware	aware	ADJ
ftr-493	359	11	of	of	ADP
ftr-493	359	12	the	the	DET
ftr-493	359	13	fact	fact	NOUN
ftr-493	359	14	that	that	SCONJ
ftr-493	359	15	many	many	ADJ
ftr-493	359	16	notional	notional	ADJ
ftr-493	359	17	principal	principal	ADJ
ftr-493	359	18	contracts	contract	NOUN
ftr-493	359	19	are	be	AUX
ftr-493	359	20	used	use	VERB
ftr-493	359	21	to	to	PART
ftr-493	359	22	hedge	hedge	VERB
ftr-493	359	23	assets	asset	NOUN
ftr-493	359	24	or	or	CCONJ
ftr-493	359	25	liabilities	liability	NOUN
ftr-493	359	26	,	,	PUNCT
ftr-493	359	27	and	and	CCONJ
ftr-493	359	28	it	it	PRON
ftr-493	359	29	is	be	AUX
ftr-493	359	30	considering	consider	VERB
ftr-493	359	31	whether	whether	SCONJ
ftr-493	359	32	to	to	PART
ftr-493	359	33	permit	permit	VERB
ftr-493	359	34	taxpayers	taxpayer	NOUN
ftr-493	359	35	to	to	PART
ftr-493	359	36	account	account	VERB
ftr-493	359	37	for	for	ADP
ftr-493	359	38	a	a	DET
ftr-493	359	39	notional	notional	ADJ
ftr-493	359	40	principal	principal	ADJ
ftr-493	359	41	contract	contract	NOUN
ftr-493	359	42	and	and	CCONJ
ftr-493	359	43	the	the	DET
ftr-493	359	44	asset	asset	NOUN
ftr-493	359	45	or	or	CCONJ
ftr-493	359	46	liability	liability	NOUN
ftr-493	359	47	that	that	PRON
ftr-493	359	48	the	the	DET
ftr-493	359	49	notional	notional	ADJ
ftr-493	359	50	principal	principal	ADJ
ftr-493	359	51	contract	contract	NOUN
ftr-493	359	52	hedges	hedge	NOUN
ftr-493	359	53	on	on	ADP
ftr-493	359	54	an	an	DET
ftr-493	359	55	integrated	integrated	ADJ
ftr-493	359	56	basis	basis	NOUN
ftr-493	359	57	"	"	PUNCT
ftr-493	359	58	)	)	PUNCT
ftr-493	359	59	.	.	PUNCT
ftr-493	360	1	52	52	NUM
ftr-493	360	2	.	.	PUNCT
ftr-493	361	1	on	on	ADP
ftr-493	361	2	the	the	DET
ftr-493	361	3	other	other	ADJ
ftr-493	361	4	hand	hand	NOUN
ftr-493	361	5	,	,	PUNCT
ftr-493	361	6	the	the	DET
ftr-493	361	7	regulation	regulation	NOUN
ftr-493	361	8	is	be	AUX
ftr-493	361	9	permissive	permissive	ADJ
ftr-493	361	10	,	,	PUNCT
ftr-493	361	11	not	not	PART
ftr-493	361	12	mandatory	mandatory	ADJ
ftr-493	361	13	(	(	PUNCT
ftr-493	361	14	i.e.	i.e.	X
ftr-493	361	15	,	,	PUNCT
ftr-493	361	16	the	the	DET
ftr-493	361	17	commissioner	commissioner	NOUN
ftr-493	361	18	"	"	PUNCT
ftr-493	361	19	may	may	AUX
ftr-493	361	20	,	,	PUNCT
ftr-493	361	21	"	"	PUNCT
ftr-493	361	22	but	but	CCONJ
ftr-493	361	23	is	be	AUX
ftr-493	361	24	not	not	PART
ftr-493	361	25	required	require	VERB
ftr-493	361	26	to	to	PART
ftr-493	361	27	,	,	PUNCT
ftr-493	361	28	treat	treat	VERB
ftr-493	361	29	the	the	DET
ftr-493	361	30	transaction	transaction	NOUN
ftr-493	361	31	according	accord	VERB
ftr-493	361	32	to	to	ADP
ftr-493	361	33	its	its	PRON
ftr-493	361	34	economic	economic	ADJ
ftr-493	361	35	substance	substance	NOUN
ftr-493	361	36	)	)	PUNCT
ftr-493	361	37	.	.	PUNCT
ftr-493	362	1	53	53	NUM
ftr-493	362	2	.	.	PUNCT
ftr-493	362	3	proposed	propose	VERB
ftr-493	362	4	regulations	regulation	NOUN
ftr-493	362	5	section	section	VERB
ftr-493	362	6	1.446	1.446	NUM
ftr-493	362	7	-	-	SYM
ftr-493	362	8	3(e)(4)(ii	3(e)(4)(ii	NUM
ftr-493	362	9	)	)	PUNCT
ftr-493	362	10	,	,	PUNCT
ftr-493	362	11	56	56	NUM
ftr-493	362	12	fed	feed	VERB
ftr-493	362	13	.	.	PUNCT
ftr-493	363	1	reg	reg	PROPN
ftr-493	363	2	.	.	PUNCT
ftr-493	364	1	31,350	31,350	NUM
ftr-493	364	2	(	(	PUNCT
ftr-493	364	3	1991	1991	NUM
ftr-493	364	4	)	)	PUNCT
ftr-493	364	5	,	,	PUNCT
ftr-493	364	6	also	also	ADV
ftr-493	364	7	prohibits	prohibit	VERB
ftr-493	364	8	a	a	DET
ftr-493	364	9	taxpayer	taxpayer	NOUN
ftr-493	364	10	from	from	ADP
ftr-493	364	11	using	use	VERB
ftr-493	364	12	certain	certain	ADJ
ftr-493	364	13	methods	method	NOUN
ftr-493	364	14	for	for	ADP
ftr-493	364	15	amortizing	amortize	VERB
ftr-493	364	16	"	"	PUNCT
ftr-493	364	17	nonperiodic	nonperiodic	ADJ
ftr-493	364	18	payments	payment	NOUN
ftr-493	364	19	made	make	VERB
ftr-493	364	20	or	or	CCONJ
ftr-493	364	21	received	receive	VERB
ftr-493	364	22	with	with	ADP
ftr-493	364	23	respect	respect	NOUN
ftr-493	364	24	to	to	ADP
ftr-493	364	25	the	the	DET
ftr-493	364	26	hedged	hedge	VERB
ftr-493	364	27	notional	notional	ADJ
ftr-493	364	28	principal	principal	ADJ
ftr-493	364	29	contract	contract	NOUN
ftr-493	364	30	.	.	PUNCT
ftr-493	364	31	"	"	PUNCT
ftr-493	365	1	once	once	ADV
ftr-493	365	2	again	again	ADV
ftr-493	365	3	,	,	PUNCT
ftr-493	365	4	given	give	VERB
ftr-493	365	5	the	the	DET
ftr-493	365	6	fact	fact	NOUN
ftr-493	365	7	that	that	SCONJ
ftr-493	365	8	substantially	substantially	ADV
ftr-493	365	9	all	all	DET
ftr-493	365	10	interest	interest	NOUN
ftr-493	365	11	rate	rate	NOUN
ftr-493	365	12	swaps	swap	NOUN
ftr-493	365	13	hedge	hedge	VERB
ftr-493	365	14	some	some	DET
ftr-493	365	15	other	other	ADJ
ftr-493	365	16	financial	financial	ADJ
ftr-493	365	17	asset	asset	NOUN
ftr-493	365	18	or	or	CCONJ
ftr-493	365	19	liability	liability	NOUN
ftr-493	365	20	,	,	PUNCT
ftr-493	365	21	it	it	PRON
ftr-493	365	22	is	be	AUX
ftr-493	365	23	hard	hard	ADJ
ftr-493	365	24	to	to	PART
ftr-493	365	25	believe	believe	VERB
ftr-493	365	26	that	that	SCONJ
ftr-493	365	27	this	this	DET
ftr-493	365	28	provision	provision	NOUN
ftr-493	365	29	was	be	AUX
ftr-493	365	30	intended	intend	VERB
ftr-493	365	31	to	to	PART
ftr-493	365	32	apply	apply	VERB
ftr-493	365	33	to	to	ADP
ftr-493	365	34	the	the	DET
ftr-493	365	35	example	example	NOUN
ftr-493	365	36	in	in	ADP
ftr-493	365	37	the	the	DET
ftr-493	365	38	text	text	NOUN
ftr-493	365	39	.	.	PUNCT
ftr-493	366	1	(	(	PUNCT
ftr-493	366	2	note	note	VERB
ftr-493	366	3	that	that	SCONJ
ftr-493	366	4	this	this	DET
ftr-493	366	5	rule	rule	NOUN
ftr-493	366	6	,	,	PUNCT
ftr-493	366	7	unlike	unlike	ADP
ftr-493	366	8	the	the	DET
ftr-493	366	9	"	"	PUNCT
ftr-493	366	10	economic	economic	ADJ
ftr-493	366	11	substance	substance	NOUN
ftr-493	366	12	"	"	PUNCT
ftr-493	366	13	rule	rule	NOUN
ftr-493	366	14	of	of	ADP
ftr-493	366	15	proposed	propose	VERB
ftr-493	366	16	regulations	regulation	NOUN
ftr-493	366	17	section	section	VERB
ftr-493	366	18	1.446	1.446	NUM
ftr-493	366	19	-	-	SYM
ftr-493	366	20	3(e)(4)(ii	3(e)(4)(ii	NUM
ftr-493	366	21	)	)	PUNCT
ftr-493	366	22	,	,	PUNCT
ftr-493	366	23	is	be	AUX
ftr-493	366	24	mandatory	mandatory	ADJ
ftr-493	366	25	.	.	PUNCT
ftr-493	366	26	)	)	PUNCT
ftr-493	367	1	however	however	ADV
ftr-493	367	2	,	,	PUNCT
ftr-493	367	3	if	if	SCONJ
ftr-493	367	4	this	this	DET
ftr-493	367	5	provision	provision	NOUN
ftr-493	367	6	were	be	AUX
ftr-493	367	7	to	to	PART
ftr-493	367	8	apply	apply	VERB
ftr-493	367	9	to	to	ADP
ftr-493	367	10	the	the	DET
ftr-493	367	11	interest	interest	NOUN
ftr-493	367	12	rate	rate	NOUN
ftr-493	367	13	swap	swap	NOUN
ftr-493	367	14	/	/	SYM
ftr-493	367	15	market	market	NOUN
ftr-493	367	16	discount	discount	NOUN
ftr-493	367	17	bond	bond	NOUN
ftr-493	367	18	example	example	NOUN
ftr-493	367	19	discussed	discuss	VERB
ftr-493	367	20	in	in	ADP
ftr-493	367	21	the	the	DET
ftr-493	367	22	text	text	NOUN
ftr-493	367	23	,	,	PUNCT
ftr-493	367	24	it	it	PRON
ftr-493	367	25	is	be	AUX
ftr-493	367	26	at	at	ADP
ftr-493	367	27	least	least	ADJ
ftr-493	367	28	possible	possible	ADJ
ftr-493	367	29	that	that	SCONJ
ftr-493	367	30	a	a	PRON
ftr-493	367	31	would	would	AUX
ftr-493	367	32	be	be	AUX
ftr-493	367	33	prevented	prevent	VERB
ftr-493	367	34	from	from	ADP
ftr-493	367	35	deducting	deduct	VERB
ftr-493	367	36	in	in	ADP
ftr-493	367	37	year	year	NOUN
ftr-493	367	38	i	i	PRON
ftr-493	367	39	more	more	ADJ
ftr-493	367	40	than	than	ADP
ftr-493	367	41	$	$	SYM
ftr-493	367	42	50.00	50.00	NUM
ftr-493	367	43	,	,	PUNCT
ftr-493	367	44	the	the	DET
ftr-493	367	45	amount	amount	NOUN
ftr-493	367	46	actually	actually	ADV
ftr-493	367	47	payable	payable	ADJ
ftr-493	367	48	by	by	ADP
ftr-493	367	49	a	a	DET
ftr-493	367	50	to	to	PART
ftr-493	367	51	b	b	NOUN
ftr-493	367	52	in	in	ADP
ftr-493	367	53	that	that	DET
ftr-493	367	54	year	year	NOUN
ftr-493	367	55	.	.	PUNCT
ftr-493	368	1	nevertheless	nevertheless	ADV
ftr-493	368	2	,	,	PUNCT
ftr-493	368	3	if	if	SCONJ
ftr-493	368	4	this	this	PRON
ftr-493	368	5	were	be	AUX
ftr-493	368	6	a	a	DET
ftr-493	368	7	problem	problem	NOUN
ftr-493	368	8	,	,	PUNCT
ftr-493	368	9	the	the	DET
ftr-493	368	10	fundamental	fundamental	ADJ
ftr-493	368	11	economics	economic	NOUN
ftr-493	368	12	and	and	CCONJ
ftr-493	368	13	desired	desire	VERB
ftr-493	368	14	tax	tax	NOUN
ftr-493	368	15	treatment	treatment	NOUN
ftr-493	368	16	of	of	ADP
ftr-493	368	17	the	the	DET
ftr-493	368	18	transaction	transaction	NOUN
ftr-493	368	19	could	could	AUX
ftr-493	368	20	be	be	AUX
ftr-493	368	21	preserved	preserve	VERB
ftr-493	368	22	by	by	ADP
ftr-493	368	23	having	have	VERB
ftr-493	368	24	a	a	PRON
ftr-493	368	25	and	and	CCONJ
ftr-493	368	26	b	b	NOUN
ftr-493	368	27	enter	enter	VERB
ftr-493	368	28	into	into	ADP
ftr-493	368	29	(	(	PUNCT
ftr-493	368	30	i	i	NOUN
ftr-493	368	31	)	)	PUNCT
ftr-493	368	32	a	a	DET
ftr-493	368	33	"	"	PUNCT
ftr-493	368	34	current	current	ADJ
ftr-493	368	35	coupon	coupon	NOUN
ftr-493	368	36	"	"	PUNCT
ftr-493	368	37	swap	swap	NOUN
ftr-493	368	38	,	,	PUNCT
ftr-493	368	39	pursuant	pursuant	ADJ
ftr-493	368	40	to	to	ADP
ftr-493	368	41	which	which	PRON
ftr-493	368	42	a	a	PRON
ftr-493	368	43	would	would	AUX
ftr-493	368	44	pay	pay	VERB
ftr-493	368	45	b	b	PROPN
ftr-493	368	46	each	each	DET
ftr-493	368	47	year	year	NOUN
ftr-493	368	48	$	$	SYM
ftr-493	368	49	91.32	91.32	NUM
ftr-493	368	50	and	and	CCONJ
ftr-493	368	51	b	b	NOUN
ftr-493	368	52	would	would	AUX
ftr-493	368	53	pay	pay	VERB
ftr-493	368	54	a	a	DET
ftr-493	368	55	libor	libor	PROPN
ftr-493	368	56	-	-	PUNCT
ftr-493	368	57	based	base	VERB
ftr-493	368	58	payments	payment	NOUN
ftr-493	368	59	quarterly	quarterly	ADV
ftr-493	368	60	(	(	PUNCT
ftr-493	368	61	based	base	VERB
ftr-493	368	62	on	on	ADP
ftr-493	368	63	a	a	DET
ftr-493	368	64	$	$	SYM
ftr-493	368	65	913.22	913.22	NUM
ftr-493	368	66	notional	notional	ADJ
ftr-493	368	67	principal	principal	ADJ
ftr-493	368	68	amount	amount	NOUN
ftr-493	368	69	)	)	PUNCT
ftr-493	368	70	and	and	CCONJ
ftr-493	368	71	(	(	PUNCT
ftr-493	368	72	ii	ii	NOUN
ftr-493	368	73	)	)	PUNCT
ftr-493	368	74	a	a	DET
ftr-493	368	75	separate	separate	ADJ
ftr-493	368	76	loan	loan	NOUN
ftr-493	368	77	agreement	agreement	NOUN
ftr-493	368	78	,	,	PUNCT
ftr-493	368	79	whereby	whereby	SCONJ
ftr-493	368	80	b	b	NOUN
ftr-493	368	81	would	would	AUX
ftr-493	368	82	loan	loan	VERB
ftr-493	368	83	a	a	DET
ftr-493	368	84	$	$	SYM
ftr-493	368	85	41.32	41.32	NUM
ftr-493	368	86	at	at	ADP
ftr-493	368	87	the	the	DET
ftr-493	368	88	end	end	NOUN
ftr-493	368	89	of	of	ADP
ftr-493	368	90	year	year	NOUN
ftr-493	368	91	1	1	NUM
ftr-493	368	92	,	,	PUNCT
ftr-493	368	93	repayable	repayable	ADJ
ftr-493	368	94	with	with	ADP
ftr-493	368	95	10	10	NUM
ftr-493	368	96	%	%	NOUN
ftr-493	368	97	interest	interest	NOUN
ftr-493	368	98	at	at	ADP
ftr-493	368	99	the	the	DET
ftr-493	368	100	end	end	NOUN
ftr-493	368	101	of	of	ADP
ftr-493	368	102	year	year	NOUN
ftr-493	368	103	2	2	NUM
ftr-493	368	104	.	.	PUNCT
ftr-493	369	1	a	a	DET
ftr-493	369	2	similar	similar	ADJ
ftr-493	369	3	approach	approach	NOUN
ftr-493	369	4	could	could	AUX
ftr-493	369	5	be	be	AUX
ftr-493	369	6	used	use	VERB
ftr-493	369	7	in	in	ADP
ftr-493	369	8	the	the	DET
ftr-493	369	9	case	case	NOUN
ftr-493	369	10	of	of	ADP
ftr-493	369	11	longcr	longcr	NOUN
ftr-493	369	12	-	-	PUNCT
ftr-493	369	13	tern	tern	NOUN
ftr-493	369	14	[	[	X
ftr-493	369	15	vol	vol	NOUN
ftr-493	369	16	1:5	1:5	NUM
ftr-493	369	17	selected	select	VERB
ftr-493	369	18	issues	issue	NOUN
ftr-493	369	19	in	in	ADP
ftr-493	369	20	the	the	DET
ftr-493	369	21	taxation	taxation	NOUN
ftr-493	369	22	of	of	ADP
ftr-493	369	23	siaps	siap	NOUN
ftr-493	369	24	regulations	regulation	NOUN
ftr-493	369	25	section	section	VERB
ftr-493	369	26	1.446	1.446	NUM
ftr-493	369	27	-	-	SYM
ftr-493	369	28	3(e)(4)(v	3(e)(4)(v	NUM
ftr-493	369	29	)	)	PUNCT
ftr-493	369	30	applies	apply	VERB
ftr-493	369	31	this	this	DET
ftr-493	369	32	"	"	PUNCT
ftr-493	369	33	economic	economic	ADJ
ftr-493	369	34	substance	substance	NOUN
ftr-493	369	35	"	"	PUNCT
ftr-493	369	36	rule	rule	NOUN
ftr-493	369	37	in	in	ADP
ftr-493	369	38	a	a	DET
ftr-493	369	39	situation	situation	NOUN
ftr-493	369	40	where	where	SCONJ
ftr-493	369	41	a	a	DET
ftr-493	369	42	taxpayer	taxpayer	NOUN
ftr-493	369	43	simultaneously	simultaneously	ADV
ftr-493	369	44	enters	enter	VERB
ftr-493	369	45	into	into	ADP
ftr-493	369	46	two	two	NUM
ftr-493	369	47	offmarket	offmarket	NOUN
ftr-493	369	48	,	,	PUNCT
ftr-493	369	49	swaps	swap	NOUN
ftr-493	369	50	with	with	ADP
ftr-493	369	51	different	different	ADJ
ftr-493	369	52	counterparties	counterpartie	NOUN
ftr-493	369	53	and	and	CCONJ
ftr-493	369	54	receives	receive	VERB
ftr-493	369	55	an	an	DET
ftr-493	369	56	upfront	upfront	ADJ
ftr-493	369	57	payment	payment	NOUN
ftr-493	369	58	from	from	ADP
ftr-493	369	59	each	each	DET
ftr-493	369	60	counterparty	counterparty	NOUN
ftr-493	369	61	.	.	PUNCT
ftr-493	370	1	by	by	ADP
ftr-493	370	2	viewing	view	VERB
ftr-493	370	3	the	the	DET
ftr-493	370	4	two	two	NUM
ftr-493	370	5	swaps	swap	NOUN
ftr-493	370	6	together	together	ADV
ftr-493	370	7	,	,	PUNCT
ftr-493	370	8	example	example	NOUN
ftr-493	370	9	4	4	NUM
ftr-493	370	10	concludes	conclude	VERB
ftr-493	370	11	that	that	SCONJ
ftr-493	370	12	the	the	DET
ftr-493	370	13	overall	overall	ADJ
ftr-493	370	14	transaction	transaction	NOUN
ftr-493	370	15	is	be	AUX
ftr-493	370	16	equivalent	equivalent	ADJ
ftr-493	370	17	to	to	ADP
ftr-493	370	18	a	a	DET
ftr-493	370	19	fixed	fix	VERB
ftr-493	370	20	rate	rate	NOUN
ftr-493	370	21	borrowing	borrowing	NOUN
ftr-493	370	22	by	by	ADP
ftr-493	370	23	the	the	DET
ftr-493	370	24	taxpayer	taxpayer	NOUN
ftr-493	370	25	and	and	CCONJ
ftr-493	370	26	recharacterizes	recharacterize	VERB
ftr-493	370	27	the	the	DET
ftr-493	370	28	upfront	upfront	ADJ
ftr-493	370	29	payments	payment	NOUN
ftr-493	370	30	as	as	ADP
ftr-493	370	31	loan	loan	NOUN
ftr-493	370	32	proceeds.5	proceeds.5	PROPN
ftr-493	370	33	c.	c.	PROPN
ftr-493	370	34	equity	equity	NOUN
ftr-493	370	35	swaps	swap	NOUN
ftr-493	370	36	1	1	NUM
ftr-493	370	37	.	.	PUNCT
ftr-493	370	38	basic	basic	ADJ
ftr-493	370	39	meclumics.-interest	meclumics.-inter	ADJ
ftr-493	370	40	rate	rate	NOUN
ftr-493	370	41	and	and	CCONJ
ftr-493	370	42	currency	currency	NOUN
ftr-493	370	43	swaps	swap	NOUN
ftr-493	370	44	were	be	AUX
ftr-493	370	45	the	the	DET
ftr-493	370	46	original	original	ADJ
ftr-493	370	47	types	type	NOUN
ftr-493	370	48	of	of	ADP
ftr-493	370	49	notional	notional	ADJ
ftr-493	370	50	principal	principal	ADJ
ftr-493	370	51	contracts	contract	NOUN
ftr-493	370	52	.	.	PUNCT
ftr-493	371	1	in	in	ADP
ftr-493	371	2	recent	recent	ADJ
ftr-493	371	3	years	year	NOUN
ftr-493	371	4	,	,	PUNCT
ftr-493	371	5	more	more	ADV
ftr-493	371	6	sophisticated	sophisticated	ADJ
ftr-493	371	7	types	type	NOUN
ftr-493	371	8	of	of	ADP
ftr-493	371	9	swap	swap	NOUN
ftr-493	371	10	products	product	NOUN
ftr-493	371	11	have	have	AUX
ftr-493	371	12	been	be	AUX
ftr-493	371	13	developed	develop	VERB
ftr-493	371	14	.	.	PUNCT
ftr-493	372	1	many	many	ADJ
ftr-493	372	2	of	of	ADP
ftr-493	372	3	these	these	PRON
ftr-493	372	4	are	be	AUX
ftr-493	372	5	equitybased	equitybase	VERB
ftr-493	372	6	.	.	PUNCT
ftr-493	373	1	for	for	ADP
ftr-493	373	2	example	example	NOUN
ftr-493	373	3	,	,	PUNCT
ftr-493	373	4	assume	assume	VERB
ftr-493	373	5	that	that	SCONJ
ftr-493	373	6	a	a	PRON
ftr-493	373	7	and	and	CCONJ
ftr-493	373	8	b	b	NOUN
ftr-493	373	9	enter	enter	VERB
ftr-493	373	10	into	into	ADP
ftr-493	373	11	an	an	DET
ftr-493	373	12	equity	equity	NOUN
ftr-493	373	13	swap	swap	NOUN
ftr-493	373	14	based	base	VERB
ftr-493	373	15	on	on	ADP
ftr-493	373	16	the	the	DET
ftr-493	373	17	all	all	ADV
ftr-493	373	18	-	-	PUNCT
ftr-493	373	19	in	in	NOUN
ftr-493	373	20	return	return	NOUN
ftr-493	373	21	(	(	PUNCT
ftr-493	373	22	dividend	dividend	NOUN
ftr-493	373	23	yield	yield	NOUN
ftr-493	373	24	and	and	CCONJ
ftr-493	373	25	net	net	ADJ
ftr-493	373	26	price	price	NOUN
ftr-493	373	27	change	change	NOUN
ftr-493	373	28	)	)	PUNCT
ftr-493	373	29	in	in	ADP
ftr-493	373	30	the	the	DET
ftr-493	373	31	dow	dow	PROPN
ftr-493	373	32	jones	jones	PROPN
ftr-493	373	33	industrial	industrial	PROPN
ftr-493	373	34	average	average	PROPN
ftr-493	373	35	(	(	PUNCT
ftr-493	373	36	"	"	PUNCT
ftr-493	373	37	djia	djia	NOUN
ftr-493	373	38	"	"	PUNCT
ftr-493	373	39	)	)	PUNCT
ftr-493	373	40	.	.	PUNCT
ftr-493	374	1	at	at	ADP
ftr-493	374	2	the	the	DET
ftr-493	374	3	end	end	NOUN
ftr-493	374	4	of	of	ADP
ftr-493	374	5	each	each	DET
ftr-493	374	6	month	month	NOUN
ftr-493	374	7	,	,	PUNCT
ftr-493	374	8	a	a	PRON
ftr-493	374	9	is	be	AUX
ftr-493	374	10	required	require	VERB
ftr-493	374	11	to	to	PART
ftr-493	374	12	pay	pay	VERB
ftr-493	374	13	b	b	PROPN
ftr-493	374	14	(	(	PUNCT
ftr-493	374	15	i	i	NOUN
ftr-493	374	16	)	)	PUNCT
ftr-493	374	17	an	an	DET
ftr-493	374	18	amount	amount	NOUN
ftr-493	374	19	equal	equal	ADJ
ftr-493	374	20	to	to	ADP
ftr-493	374	21	the	the	DET
ftr-493	374	22	net	net	ADJ
ftr-493	374	23	increase	increase	NOUN
ftr-493	374	24	,	,	PUNCT
ftr-493	374	25	if	if	SCONJ
ftr-493	374	26	any	any	PRON
ftr-493	374	27	,	,	PUNCT
ftr-493	374	28	in	in	ADP
ftr-493	374	29	the	the	DET
ftr-493	374	30	djia	djia	PROPN
ftr-493	374	31	over	over	ADP
ftr-493	374	32	the	the	DET
ftr-493	374	33	course	course	NOUN
ftr-493	374	34	of	of	ADP
ftr-493	374	35	that	that	DET
ftr-493	374	36	month	month	NOUN
ftr-493	374	37	(	(	PUNCT
ftr-493	374	38	determined	determine	VERB
ftr-493	374	39	by	by	ADP
ftr-493	374	40	comparing	compare	VERB
ftr-493	374	41	the	the	DET
ftr-493	374	42	value	value	NOUN
ftr-493	374	43	of	of	ADP
ftr-493	374	44	the	the	DET
ftr-493	374	45	djia	djia	PROPN
ftr-493	374	46	at	at	ADP
ftr-493	374	47	the	the	DET
ftr-493	374	48	close	close	NOUN
ftr-493	374	49	of	of	ADP
ftr-493	374	50	the	the	DET
ftr-493	374	51	last	last	ADJ
ftr-493	374	52	trading	trading	NOUN
ftr-493	374	53	day	day	NOUN
ftr-493	374	54	of	of	ADP
ftr-493	374	55	the	the	DET
ftr-493	374	56	month	month	NOUN
ftr-493	374	57	(	(	PUNCT
ftr-493	374	58	the	the	DET
ftr-493	374	59	"	"	PUNCT
ftr-493	374	60	closing	closing	NOUN
ftr-493	374	61	value	value	NOUN
ftr-493	374	62	"	"	PUNCT
ftr-493	374	63	)	)	PUNCT
ftr-493	374	64	with	with	ADP
ftr-493	374	65	the	the	DET
ftr-493	374	66	value	value	NOUN
ftr-493	374	67	of	of	ADP
ftr-493	374	68	the	the	DET
ftr-493	374	69	djia	djia	PROPN
ftr-493	374	70	at	at	ADP
ftr-493	374	71	the	the	DET
ftr-493	374	72	close	close	NOUN
ftr-493	374	73	of	of	ADP
ftr-493	374	74	the	the	DET
ftr-493	374	75	last	last	ADJ
ftr-493	374	76	trading	trading	NOUN
ftr-493	374	77	day	day	NOUN
ftr-493	374	78	of	of	ADP
ftr-493	374	79	the	the	DET
ftr-493	374	80	preceding	precede	VERB
ftr-493	374	81	month	month	NOUN
ftr-493	374	82	(	(	PUNCT
ftr-493	374	83	the	the	DET
ftr-493	374	84	"	"	PUNCT
ftr-493	374	85	beginning	beginning	NOUN
ftr-493	374	86	value	value	NOUN
ftr-493	374	87	"	"	PUNCT
ftr-493	374	88	)	)	PUNCT
ftr-493	374	89	and	and	CCONJ
ftr-493	374	90	(	(	PUNCT
ftr-493	374	91	ii	ii	NOUN
ftr-493	374	92	)	)	PUNCT
ftr-493	374	93	an	an	DET
ftr-493	374	94	amount	amount	NOUN
ftr-493	374	95	equal	equal	ADJ
ftr-493	374	96	to	to	ADP
ftr-493	374	97	the	the	DET
ftr-493	374	98	aggregate	aggregate	ADJ
ftr-493	374	99	amount	amount	NOUN
ftr-493	374	100	of	of	ADP
ftr-493	374	101	dividends	dividend	NOUN
ftr-493	374	102	declared	declare	VERB
ftr-493	374	103	and	and	CCONJ
ftr-493	374	104	paid	pay	VERB
ftr-493	374	105	during	during	ADP
ftr-493	374	106	that	that	DET
ftr-493	374	107	month	month	NOUN
ftr-493	374	108	on	on	ADP
ftr-493	374	109	the	the	DET
ftr-493	374	110	underlying	underlie	VERB
ftr-493	374	111	stocks	stock	NOUN
ftr-493	374	112	making	make	VERB
ftr-493	374	113	up	up	ADP
ftr-493	374	114	the	the	DET
ftr-493	374	115	djia	djia	PROPN
ftr-493	374	116	.	.	PUNCT
ftr-493	375	1	similarly	similarly	ADV
ftr-493	375	2	,	,	PUNCT
ftr-493	375	3	each	each	DET
ftr-493	375	4	month	month	NOUN
ftr-493	375	5	b	b	PROPN
ftr-493	375	6	is	be	AUX
ftr-493	375	7	required	require	VERB
ftr-493	375	8	to	to	PART
ftr-493	375	9	pay	pay	VERB
ftr-493	375	10	a	a	DET
ftr-493	375	11	(	(	PUNCT
ftr-493	375	12	i	i	NOUN
ftr-493	375	13	)	)	PUNCT
ftr-493	375	14	an	an	DET
ftr-493	375	15	amount	amount	NOUN
ftr-493	375	16	equal	equal	ADJ
ftr-493	375	17	to	to	ADP
ftr-493	375	18	the	the	DET
ftr-493	375	19	net	net	ADJ
ftr-493	375	20	decrease	decrease	NOUN
ftr-493	375	21	,	,	PUNCT
ftr-493	375	22	if	if	SCONJ
ftr-493	375	23	any	any	PRON
ftr-493	375	24	,	,	PUNCT
ftr-493	375	25	in	in	ADP
ftr-493	375	26	the	the	DET
ftr-493	375	27	djia	djia	PROPN
ftr-493	375	28	over	over	ADP
ftr-493	375	29	the	the	DET
ftr-493	375	30	course	course	NOUN
ftr-493	375	31	of	of	ADP
ftr-493	375	32	the	the	DET
ftr-493	375	33	month	month	NOUN
ftr-493	375	34	(	(	PUNCT
ftr-493	375	35	determined	determine	VERB
ftr-493	375	36	by	by	ADP
ftr-493	375	37	comparing	compare	VERB
ftr-493	375	38	the	the	DET
ftr-493	375	39	closing	closing	NOUN
ftr-493	375	40	value	value	NOUN
ftr-493	375	41	and	and	CCONJ
ftr-493	375	42	the	the	DET
ftr-493	375	43	beginning	begin	VERB
ftr-493	375	44	value	value	NOUN
ftr-493	375	45	)	)	PUNCT
ftr-493	375	46	and	and	CCONJ
ftr-493	375	47	(	(	PUNCT
ftr-493	375	48	ii	ii	NOUN
ftr-493	375	49	)	)	PUNCT
ftr-493	375	50	an	an	DET
ftr-493	375	51	amount	amount	NOUN
ftr-493	375	52	equal	equal	ADJ
ftr-493	375	53	to	to	ADP
ftr-493	375	54	the	the	DET
ftr-493	375	55	product	product	NOUN
ftr-493	375	56	of	of	ADP
ftr-493	375	57	the	the	DET
ftr-493	375	58	30	30	NUM
ftr-493	375	59	-	-	PUNCT
ftr-493	375	60	day	day	NOUN
ftr-493	375	61	libor	libor	PROPN
ftr-493	375	62	interest	interest	NOUN
ftr-493	375	63	rate	rate	NOUN
ftr-493	375	64	for	for	ADP
ftr-493	375	65	the	the	DET
ftr-493	375	66	period	period	NOUN
ftr-493	375	67	(	(	PUNCT
ftr-493	375	68	determined	determine	VERB
ftr-493	375	69	at	at	ADP
ftr-493	375	70	the	the	DET
ftr-493	375	71	beginning	beginning	NOUN
ftr-493	375	72	of	of	ADP
ftr-493	375	73	the	the	DET
ftr-493	375	74	month	month	NOUN
ftr-493	375	75	)	)	PUNCT
ftr-493	375	76	and	and	CCONJ
ftr-493	375	77	the	the	DET
ftr-493	375	78	beginning	begin	VERB
ftr-493	375	79	value	value	NOUN
ftr-493	375	80	.	.	PUNCT
ftr-493	376	1	what	what	PRON
ftr-493	376	2	if	if	SCONJ
ftr-493	376	3	a	a	PRON
ftr-493	376	4	were	be	AUX
ftr-493	376	5	to	to	PART
ftr-493	376	6	enter	enter	VERB
ftr-493	376	7	into	into	ADP
ftr-493	376	8	this	this	DET
ftr-493	376	9	swap	swap	NOUN
ftr-493	376	10	at	at	ADP
ftr-493	376	11	the	the	DET
ftr-493	376	12	same	same	ADJ
ftr-493	376	13	time	time	NOUN
ftr-493	376	14	it	it	PRON
ftr-493	376	15	owned	own	VERB
ftr-493	376	16	the	the	DET
ftr-493	376	17	basket	basket	NOUN
ftr-493	376	18	of	of	ADP
ftr-493	376	19	stocks	stock	NOUN
ftr-493	376	20	making	make	VERB
ftr-493	376	21	up	up	ADP
ftr-493	376	22	the	the	DET
ftr-493	376	23	djia	djia	NOUN
ftr-493	376	24	,	,	PUNCT
ftr-493	376	25	6	6	NUM
ftr-493	376	26	such	such	ADJ
ftr-493	376	27	stocks	stock	NOUN
ftr-493	376	28	having	have	VERB
ftr-493	376	29	a	a	DET
ftr-493	376	30	current	current	ADJ
ftr-493	376	31	aggregate	aggregate	ADJ
ftr-493	376	32	fair	fair	ADJ
ftr-493	376	33	market	market	NOUN
ftr-493	376	34	value	value	NOUN
ftr-493	376	35	of	of	ADP
ftr-493	376	36	$	$	SYM
ftr-493	376	37	1,000x	1,000x	NUM
ftr-493	376	38	?	?	PUNCT
ftr-493	377	1	by	by	ADP
ftr-493	377	2	entering	enter	VERB
ftr-493	377	3	into	into	ADP
ftr-493	377	4	the	the	DET
ftr-493	377	5	equity	equity	NOUN
ftr-493	377	6	swap,5	swap,5	NOUN
ftr-493	377	7	market	market	NOUN
ftr-493	377	8	discount	discount	NOUN
ftr-493	377	9	bond	bond	NOUN
ftr-493	377	10	/	/	SYM
ftr-493	377	11	swap	swap	NOUN
ftr-493	377	12	transactions	transaction	NOUN
ftr-493	377	13	.	.	PUNCT
ftr-493	378	1	54	54	NUM
ftr-493	378	2	.	.	PUNCT
ftr-493	379	1	an	an	DET
ftr-493	379	2	offmarket	offmarket	ADJ
ftr-493	379	3	swap	swap	NOUN
ftr-493	379	4	is	be	AUX
ftr-493	379	5	one	one	NUM
ftr-493	379	6	where	where	SCONJ
ftr-493	379	7	the	the	DET
ftr-493	379	8	present	present	ADJ
ftr-493	379	9	values	value	NOUN
ftr-493	379	10	of	of	ADP
ftr-493	379	11	each	each	DET
ftr-493	379	12	counterparty	counterparty	NOUN
ftr-493	379	13	's	's	PART
ftr-493	379	14	required	require	VERB
ftr-493	379	15	payments	payment	NOUN
ftr-493	379	16	under	under	ADP
ftr-493	379	17	the	the	DET
ftr-493	379	18	swap	swap	NOUN
ftr-493	379	19	are	be	AUX
ftr-493	379	20	not	not	PART
ftr-493	379	21	equal	equal	ADJ
ftr-493	379	22	,	,	PUNCT
ftr-493	379	23	generally	generally	ADV
ftr-493	379	24	as	as	ADP
ftr-493	379	25	a	a	DET
ftr-493	379	26	result	result	NOUN
ftr-493	379	27	of	of	ADP
ftr-493	379	28	one	one	NUM
ftr-493	379	29	counterparty	counterparty	NOUN
ftr-493	379	30	's	's	PART
ftr-493	379	31	payments	payment	NOUN
ftr-493	379	32	being	be	AUX
ftr-493	379	33	based	base	VERB
ftr-493	379	34	on	on	ADP
ftr-493	379	35	an	an	DET
ftr-493	379	36	interest	interest	NOUN
ftr-493	379	37	rate	rate	NOUN
ftr-493	379	38	index	index	NOUN
ftr-493	379	39	that	that	PRON
ftr-493	379	40	differs	differ	VERB
ftr-493	379	41	from	from	ADP
ftr-493	379	42	current	current	ADJ
ftr-493	379	43	market	market	NOUN
ftr-493	379	44	interest	interest	NOUN
ftr-493	379	45	rates	rate	NOUN
ftr-493	379	46	.	.	PUNCT
ftr-493	380	1	in	in	ADP
ftr-493	380	2	order	order	NOUN
ftr-493	380	3	to	to	PART
ftr-493	380	4	equalize	equalize	VERB
ftr-493	380	5	the	the	DET
ftr-493	380	6	two	two	NUM
ftr-493	380	7	legs	leg	NOUN
ftr-493	380	8	of	of	ADP
ftr-493	380	9	the	the	DET
ftr-493	380	10	swap	swap	NOUN
ftr-493	380	11	,	,	PUNCT
ftr-493	380	12	the	the	DET
ftr-493	380	13	counterparty	counterparty	NOUN
ftr-493	380	14	entitled	entitle	VERB
ftr-493	380	15	to	to	PART
ftr-493	380	16	receive	receive	VERB
ftr-493	380	17	the	the	DET
ftr-493	380	18	stream	stream	NOUN
ftr-493	380	19	of	of	ADP
ftr-493	380	20	swap	swap	NOUN
ftr-493	380	21	payments	payment	NOUN
ftr-493	380	22	having	have	VERB
ftr-493	380	23	a	a	DET
ftr-493	380	24	greater	great	ADJ
ftr-493	380	25	present	present	ADJ
ftr-493	380	26	value	value	NOUN
ftr-493	380	27	is	be	AUX
ftr-493	380	28	required	require	VERB
ftr-493	380	29	to	to	PART
ftr-493	380	30	make	make	VERB
ftr-493	380	31	an	an	DET
ftr-493	380	32	upfront	upfront	ADJ
ftr-493	380	33	payment	payment	NOUN
ftr-493	380	34	to	to	ADP
ftr-493	380	35	the	the	DET
ftr-493	380	36	other	other	ADJ
ftr-493	380	37	counterparty	counterparty	NOUN
ftr-493	380	38	.	.	PUNCT
ftr-493	381	1	55	55	NUM
ftr-493	381	2	.	.	PUNCT
ftr-493	382	1	see	see	AUX
ftr-493	382	2	also	also	ADV
ftr-493	382	3	prop	prop	VERB
ftr-493	382	4	.	.	PUNCT
ftr-493	383	1	regs	regs	PROPN
ftr-493	383	2	.	.	PUNCT
ftr-493	384	1	§	§	PROPN
ftr-493	384	2	1.446	1.446	NUM
ftr-493	384	3	-	-	SYM
ftr-493	384	4	3(0	3(0	NUM
ftr-493	384	5	(	(	PUNCT
ftr-493	384	6	a	a	DET
ftr-493	384	7	general	general	ADJ
ftr-493	384	8	anti	anti	ADJ
ftr-493	384	9	-	-	ADJ
ftr-493	384	10	abuse	abuse	ADJ
ftr-493	384	11	rule	rule	NOUN
ftr-493	384	12	allowing	allow	VERB
ftr-493	384	13	the	the	DET
ftr-493	384	14	service	service	NOUN
ftr-493	384	15	to	to	PART
ftr-493	384	16	account	account	VERB
ftr-493	384	17	for	for	ADP
ftr-493	384	18	a	a	DET
ftr-493	384	19	transaction	transaction	NOUN
ftr-493	384	20	in	in	ADP
ftr-493	384	21	a	a	DET
ftr-493	384	22	manner	manner	NOUN
ftr-493	384	23	necessary	necessary	ADJ
ftr-493	384	24	to	to	PART
ftr-493	384	25	clearly	clearly	ADV
ftr-493	384	26	reflect	reflect	VERB
ftr-493	384	27	a	a	DET
ftr-493	384	28	taxpayer	taxpayer	NOUN
ftr-493	384	29	's	's	PART
ftr-493	384	30	income	income	NOUN
ftr-493	384	31	where	where	SCONJ
ftr-493	384	32	the	the	DET
ftr-493	384	33	"	"	PUNCT
ftr-493	384	34	taxpayer	taxpayer	NOUN
ftr-493	384	35	enters	enter	VERB
ftr-493	384	36	into	into	ADP
ftr-493	384	37	a	a	DET
ftr-493	384	38	transaction	transaction	NOUN
ftr-493	384	39	that	that	PRON
ftr-493	384	40	is	be	AUX
ftr-493	384	41	not	not	PART
ftr-493	384	42	a	a	DET
ftr-493	384	43	customary	customary	ADJ
ftr-493	384	44	commercial	commercial	ADJ
ftr-493	384	45	transaction	transaction	NOUN
ftr-493	384	46	"	"	PUNCT
ftr-493	384	47	)	)	PUNCT
ftr-493	384	48	.	.	PUNCT
ftr-493	385	1	i	i	PRON
ftr-493	385	2	suggest	suggest	VERB
ftr-493	385	3	that	that	SCONJ
ftr-493	385	4	the	the	DET
ftr-493	385	5	transaction	transaction	NOUN
ftr-493	385	6	discussed	discuss	VERB
ftr-493	385	7	in	in	ADP
ftr-493	385	8	the	the	DET
ftr-493	385	9	text	text	NOUN
ftr-493	385	10	would	would	AUX
ftr-493	385	11	constitute	constitute	VERB
ftr-493	385	12	a	a	DET
ftr-493	385	13	"	"	PUNCT
ftr-493	385	14	customary	customary	ADJ
ftr-493	385	15	commercial	commercial	ADJ
ftr-493	385	16	transaction	transaction	NOUN
ftr-493	385	17	.	.	PUNCT
ftr-493	385	18	"	"	PUNCT
ftr-493	386	1	56	56	NUM
ftr-493	386	2	.	.	PUNCT
ftr-493	386	3	more	more	ADV
ftr-493	386	4	precisely	precisely	ADV
ftr-493	386	5	,	,	PUNCT
ftr-493	386	6	a	a	PRON
ftr-493	386	7	would	would	AUX
ftr-493	386	8	own	own	VERB
ftr-493	386	9	one	one	NUM
ftr-493	386	10	share	share	NOUN
ftr-493	386	11	of	of	ADP
ftr-493	386	12	each	each	DET
ftr-493	386	13	stock	stock	NOUN
ftr-493	386	14	included	include	VERB
ftr-493	386	15	in	in	ADP
ftr-493	386	16	the	the	DET
ftr-493	386	17	djia	djia	PROPN
ftr-493	386	18	.	.	PROPN
ftr-493	387	1	57	57	NUM
ftr-493	387	2	.	.	PUNCT
ftr-493	388	1	technically	technically	ADV
ftr-493	388	2	,	,	PUNCT
ftr-493	388	3	this	this	PRON
ftr-493	388	4	would	would	AUX
ftr-493	388	5	be	be	AUX
ftr-493	388	6	an	an	DET
ftr-493	388	7	equity	equity	NOUN
ftr-493	388	8	index	index	NOUN
ftr-493	388	9	swap	swap	NOUN
ftr-493	388	10	since	since	SCONJ
ftr-493	388	11	it	it	PRON
ftr-493	388	12	is	be	AUX
ftr-493	388	13	based	base	VERB
ftr-493	388	14	on	on	ADP
ftr-493	388	15	a	a	DET
ftr-493	388	16	1993	1993	NUM
ftr-493	388	17	]	]	PUNCT
ftr-493	388	18	florida	florida	PROPN
ftr-493	388	19	tax	tax	PROPN
ftr-493	388	20	review	review	NOUN
ftr-493	388	21	a	a	PRON
ftr-493	388	22	would	would	AUX
ftr-493	388	23	have	have	AUX
ftr-493	388	24	been	be	AUX
ftr-493	388	25	able	able	ADJ
ftr-493	388	26	to	to	PART
ftr-493	388	27	insulate	insulate	VERB
ftr-493	388	28	itself	itself	PRON
ftr-493	388	29	from	from	ADP
ftr-493	388	30	all	all	DET
ftr-493	388	31	(	(	PUNCT
ftr-493	388	32	positive	positive	ADJ
ftr-493	388	33	or	or	CCONJ
ftr-493	388	34	negative	negative	ADJ
ftr-493	388	35	)	)	PUNCT
ftr-493	388	36	movements	movement	NOUN
ftr-493	388	37	in	in	ADP
ftr-493	388	38	the	the	DET
ftr-493	388	39	djia	djia	NOUN
ftr-493	388	40	,	,	PUNCT
ftr-493	388	41	and	and	CCONJ
ftr-493	388	42	would	would	AUX
ftr-493	388	43	have	have	AUX
ftr-493	388	44	converted	convert	VERB
ftr-493	388	45	the	the	DET
ftr-493	388	46	return	return	NOUN
ftr-493	388	47	on	on	ADP
ftr-493	388	48	its	its	PRON
ftr-493	388	49	$	$	SYM
ftr-493	388	50	1,000x	1,000x	NUM
ftr-493	388	51	investment	investment	NOUN
ftr-493	388	52	in	in	ADP
ftr-493	388	53	the	the	DET
ftr-493	388	54	underlying	underlie	VERB
ftr-493	388	55	stocks	stock	NOUN
ftr-493	388	56	from	from	ADP
ftr-493	388	57	an	an	DET
ftr-493	388	58	equity	equity	NOUN
ftr-493	388	59	-	-	PUNCT
ftr-493	388	60	based	base	VERB
ftr-493	388	61	return	return	NOUN
ftr-493	388	62	into	into	ADP
ftr-493	388	63	a	a	DET
ftr-493	388	64	debtlike	debtlike	NOUN
ftr-493	388	65	return	return	NOUN
ftr-493	388	66	based	base	VERB
ftr-493	388	67	on	on	ADP
ftr-493	388	68	libor	libor	PROPN
ftr-493	388	69	:	:	PUNCT
ftr-493	388	70	thus	thus	ADV
ftr-493	388	71	,	,	PUNCT
ftr-493	388	72	a	a	DET
ftr-493	388	73	would	would	AUX
ftr-493	388	74	,	,	PUNCT
ftr-493	388	75	in	in	ADP
ftr-493	388	76	effect	effect	NOUN
ftr-493	388	77	,	,	PUNCT
ftr-493	388	78	have	have	AUX
ftr-493	388	79	created	create	VERB
ftr-493	388	80	a	a	DET
ftr-493	388	81	synthetic	synthetic	ADJ
ftr-493	388	82	fixed	fix	VERB
ftr-493	388	83	income	income	NOUN
ftr-493	388	84	(	(	PUNCT
ftr-493	388	85	debt	debt	NOUN
ftr-493	388	86	)	)	PUNCT
ftr-493	388	87	position	position	NOUN
ftr-493	388	88	.	.	PUNCT
ftr-493	389	1	b	b	X
ftr-493	389	2	,	,	PUNCT
ftr-493	389	3	on	on	ADP
ftr-493	389	4	the	the	DET
ftr-493	389	5	other	other	ADJ
ftr-493	389	6	hand	hand	NOUN
ftr-493	389	7	,	,	PUNCT
ftr-493	389	8	now	now	ADV
ftr-493	389	9	holds	hold	VERB
ftr-493	389	10	a	a	DET
ftr-493	389	11	position	position	NOUN
ftr-493	389	12	that	that	PRON
ftr-493	389	13	mimics	mimic	VERB
ftr-493	389	14	the	the	DET
ftr-493	389	15	performance	performance	NOUN
ftr-493	389	16	of	of	ADP
ftr-493	389	17	the	the	DET
ftr-493	389	18	underlying	underlie	VERB
ftr-493	389	19	stocks	stock	NOUN
ftr-493	389	20	.	.	PUNCT
ftr-493	390	1	this	this	PRON
ftr-493	390	2	raises	raise	VERB
ftr-493	390	3	at	at	ADV
ftr-493	390	4	least	least	ADV
ftr-493	390	5	three	three	NUM
ftr-493	390	6	issues	issue	NOUN
ftr-493	390	7	concerning	concern	VERB
ftr-493	390	8	the	the	DET
ftr-493	390	9	tax	tax	NOUN
ftr-493	390	10	consequences	consequence	NOUN
ftr-493	390	11	to	to	PART
ftr-493	390	12	a.	a.	NOUN
ftr-493	390	13	first	first	ADV
ftr-493	390	14	,	,	PUNCT
ftr-493	390	15	by	by	ADP
ftr-493	390	16	entering	enter	VERB
ftr-493	390	17	into	into	ADP
ftr-493	390	18	the	the	DET
ftr-493	390	19	swap	swap	NOUN
ftr-493	390	20	,	,	PUNCT
ftr-493	390	21	will	will	AUX
ftr-493	390	22	a	a	PRON
ftr-493	390	23	be	be	AUX
ftr-493	390	24	considered	consider	VERB
ftr-493	390	25	to	to	PART
ftr-493	390	26	have	have	AUX
ftr-493	390	27	disposed	dispose	VERB
ftr-493	390	28	of	of	ADP
ftr-493	390	29	the	the	DET
ftr-493	390	30	underlying	underlie	VERB
ftr-493	390	31	stocks	stock	NOUN
ftr-493	390	32	for	for	ADP
ftr-493	390	33	tax	tax	NOUN
ftr-493	390	34	purposes	purpose	NOUN
ftr-493	390	35	?	?	PUNCT
ftr-493	391	1	second	second	ADJ
ftr-493	391	2	,	,	PUNCT
ftr-493	391	3	will	will	AUX
ftr-493	391	4	a	a	PRON
ftr-493	391	5	be	be	AUX
ftr-493	391	6	entitled	entitle	VERB
ftr-493	391	7	to	to	PART
ftr-493	391	8	deduct	deduct	VERB
ftr-493	391	9	payments	payment	NOUN
ftr-493	391	10	made	make	VERB
ftr-493	391	11	to	to	ADP
ftr-493	391	12	b	b	NOUN
ftr-493	391	13	with	with	ADP
ftr-493	391	14	respect	respect	NOUN
ftr-493	391	15	to	to	ADP
ftr-493	391	16	positive	positive	ADJ
ftr-493	391	17	movements	movement	NOUN
ftr-493	391	18	in	in	ADP
ftr-493	391	19	the	the	DET
ftr-493	391	20	djia	djia	NOUN
ftr-493	391	21	?	?	PUNCT
ftr-493	392	1	if	if	SCONJ
ftr-493	392	2	it	it	PRON
ftr-493	392	3	can	can	AUX
ftr-493	392	4	,	,	PUNCT
ftr-493	392	5	a	a	PRON
ftr-493	392	6	may	may	AUX
ftr-493	392	7	be	be	AUX
ftr-493	392	8	able	able	ADJ
ftr-493	392	9	,	,	PUNCT
ftr-493	392	10	once	once	ADV
ftr-493	392	11	again	again	ADV
ftr-493	392	12	,	,	PUNCT
ftr-493	392	13	to	to	PART
ftr-493	392	14	create	create	VERB
ftr-493	392	15	a	a	DET
ftr-493	392	16	synthetic	synthetic	ADJ
ftr-493	392	17	tax	tax	NOUN
ftr-493	392	18	-	-	PUNCT
ftr-493	392	19	advantaged	advantaged	ADJ
ftr-493	392	20	asset	asset	NOUN
ftr-493	392	21	.	.	PUNCT
ftr-493	393	1	third	third	ADJ
ftr-493	393	2	,	,	PUNCT
ftr-493	393	3	if	if	SCONJ
ftr-493	393	4	a	a	PRON
ftr-493	393	5	is	be	AUX
ftr-493	393	6	a	a	DET
ftr-493	393	7	corporation	corporation	NOUN
ftr-493	393	8	,	,	PUNCT
ftr-493	393	9	will	will	AUX
ftr-493	393	10	a	a	PRON
ftr-493	393	11	be	be	AUX
ftr-493	393	12	entitled	entitle	VERB
ftr-493	393	13	to	to	PART
ftr-493	393	14	claim	claim	VERB
ftr-493	393	15	the	the	DET
ftr-493	393	16	dividends	dividend	NOUN
ftr-493	393	17	-	-	PUNCT
ftr-493	393	18	received	receive	VERB
ftr-493	393	19	deduction	deduction	NOUN
ftr-493	393	20	(	(	PUNCT
ftr-493	393	21	the	the	DET
ftr-493	393	22	"	"	PUNCT
ftr-493	393	23	drd	drd	NOUN
ftr-493	393	24	"	"	PUNCT
ftr-493	393	25	)	)	PUNCT
ftr-493	393	26	under	under	ADP
ftr-493	393	27	section	section	NOUN
ftr-493	393	28	243	243	NUM
ftr-493	393	29	with	with	ADP
ftr-493	393	30	respect	respect	NOUN
ftr-493	393	31	to	to	ADP
ftr-493	393	32	dividends	dividend	NOUN
ftr-493	393	33	received	receive	VERB
ftr-493	393	34	on	on	ADP
ftr-493	393	35	the	the	DET
ftr-493	393	36	underlying	underlie	VERB
ftr-493	393	37	stocks	stock	NOUN
ftr-493	393	38	,	,	PUNCT
ftr-493	393	39	while	while	SCONJ
ftr-493	393	40	at	at	ADP
ftr-493	393	41	the	the	DET
ftr-493	393	42	same	same	ADJ
ftr-493	393	43	time	time	NOUN
ftr-493	393	44	deducting	deduct	VERB
ftr-493	393	45	the	the	DET
ftr-493	393	46	swap	swap	NOUN
ftr-493	393	47	payments	payment	NOUN
ftr-493	393	48	made	make	VERB
ftr-493	393	49	to	to	ADP
ftr-493	393	50	b	b	NOUN
ftr-493	393	51	with	with	ADP
ftr-493	393	52	respect	respect	NOUN
ftr-493	393	53	to	to	ADP
ftr-493	393	54	such	such	ADJ
ftr-493	393	55	dividends	dividend	NOUN
ftr-493	393	56	?	?	PUNCT
ftr-493	394	1	if	if	SCONJ
ftr-493	394	2	so	so	ADV
ftr-493	394	3	,	,	PUNCT
ftr-493	394	4	all	all	DET
ftr-493	394	5	sorts	sort	NOUN
ftr-493	394	6	of	of	ADP
ftr-493	394	7	tax	tax	NOUN
ftr-493	394	8	arbitrage	arbitrage	NOUN
ftr-493	394	9	possibilities	possibility	NOUN
ftr-493	394	10	will	will	AUX
ftr-493	394	11	have	have	AUX
ftr-493	394	12	been	be	AUX
ftr-493	394	13	created	create	VERB
ftr-493	394	14	.	.	PUNCT
ftr-493	395	1	the	the	DET
ftr-493	395	2	next	next	ADJ
ftr-493	395	3	three	three	NUM
ftr-493	395	4	subparts	subpart	NOUN
ftr-493	395	5	will	will	AUX
ftr-493	395	6	discuss	discuss	VERB
ftr-493	395	7	each	each	PRON
ftr-493	395	8	of	of	ADP
ftr-493	395	9	these	these	DET
ftr-493	395	10	issues	issue	NOUN
ftr-493	395	11	in	in	ADP
ftr-493	395	12	turn	turn	NOUN
ftr-493	395	13	.	.	PUNCT
ftr-493	396	1	then	then	ADV
ftr-493	396	2	the	the	DET
ftr-493	396	3	issue	issue	NOUN
ftr-493	396	4	of	of	ADP
ftr-493	396	5	withholding	withhold	VERB
ftr-493	396	6	taxes	taxis	NOUN
ftr-493	396	7	and	and	CCONJ
ftr-493	396	8	equity	equity	NOUN
ftr-493	396	9	swaps	swap	NOUN
ftr-493	396	10	will	will	AUX
ftr-493	396	11	be	be	AUX
ftr-493	396	12	discussed	discuss	VERB
ftr-493	396	13	.	.	PUNCT
ftr-493	397	1	2	2	X
ftr-493	397	2	.	.	NUM
ftr-493	397	3	deemed	deem	VERB
ftr-493	397	4	disposition	disposition	NOUN
ftr-493	397	5	of	of	ADP
ftr-493	397	6	the	the	DET
ftr-493	397	7	underlying	underlie	VERB
ftr-493	397	8	stocks.-many	stocks.-many	PROPN
ftr-493	397	9	investment	investment	NOUN
ftr-493	397	10	bankers	banker	NOUN
ftr-493	397	11	tout	tout	PROPN
ftr-493	397	12	equity	equity	NOUN
ftr-493	397	13	swaps	swap	NOUN
ftr-493	397	14	as	as	ADP
ftr-493	397	15	a	a	DET
ftr-493	397	16	convenient	convenient	ADJ
ftr-493	397	17	means	mean	NOUN
ftr-493	397	18	for	for	SCONJ
ftr-493	397	19	investors	investor	NOUN
ftr-493	397	20	to	to	PART
ftr-493	397	21	alter	alter	VERB
ftr-493	397	22	the	the	DET
ftr-493	397	23	composition	composition	NOUN
ftr-493	397	24	of	of	ADP
ftr-493	397	25	their	their	PRON
ftr-493	397	26	investment	investment	NOUN
ftr-493	397	27	portfolios	portfolio	NOUN
ftr-493	397	28	without	without	ADP
ftr-493	397	29	incurring	incur	VERB
ftr-493	397	30	the	the	DET
ftr-493	397	31	transaction	transaction	NOUN
ftr-493	397	32	costs	cost	NOUN
ftr-493	397	33	and	and	CCONJ
ftr-493	397	34	taxes	taxis	NOUN
ftr-493	397	35	incident	incident	NOUN
ftr-493	397	36	to	to	ADP
ftr-493	397	37	an	an	DET
ftr-493	397	38	actual	actual	ADJ
ftr-493	397	39	sale	sale	NOUN
ftr-493	397	40	of	of	ADP
ftr-493	397	41	the	the	DET
ftr-493	397	42	underlying	underlie	VERB
ftr-493	397	43	stocks	stock	NOUN
ftr-493	397	44	and	and	CCONJ
ftr-493	397	45	the	the	DET
ftr-493	397	46	reinvestment	reinvestment	NOUN
ftr-493	397	47	of	of	ADP
ftr-493	397	48	the	the	DET
ftr-493	397	49	proceeds	proceed	NOUN
ftr-493	397	50	in	in	ADP
ftr-493	397	51	fixed	fix	VERB
ftr-493	397	52	income	income	NOUN
ftr-493	397	53	securities	security	NOUN
ftr-493	397	54	.	.	PUNCT
ftr-493	398	1	this	this	PRON
ftr-493	398	2	,	,	PUNCT
ftr-493	398	3	assumes	assume	VERB
ftr-493	398	4	,	,	PUNCT
ftr-493	398	5	of	of	ADP
ftr-493	398	6	course	course	NOUN
ftr-493	398	7	,	,	PUNCT
ftr-493	398	8	that	that	PRON
ftr-493	398	9	entering	enter	VERB
ftr-493	398	10	into	into	ADP
ftr-493	398	11	the	the	DET
ftr-493	398	12	equity	equity	NOUN
ftr-493	398	13	swap	swap	NOUN
ftr-493	398	14	will	will	AUX
ftr-493	398	15	not	not	PART
ftr-493	398	16	constitute	constitute	VERB
ftr-493	398	17	a	a	DET
ftr-493	398	18	disposition	disposition	NOUN
ftr-493	398	19	of	of	ADP
ftr-493	398	20	the	the	DET
ftr-493	398	21	underlying	underlie	VERB
ftr-493	398	22	stocks	stock	NOUN
ftr-493	398	23	for	for	ADP
ftr-493	398	24	tax	tax	NOUN
ftr-493	398	25	purposes	purpose	NOUN
ftr-493	398	26	.	.	PUNCT
ftr-493	399	1	is	be	AUX
ftr-493	399	2	this	this	PRON
ftr-493	399	3	a	a	DET
ftr-493	399	4	correct	correct	ADJ
ftr-493	399	5	view	view	NOUN
ftr-493	399	6	?	?	PUNCT
ftr-493	400	1	on	on	ADP
ftr-493	400	2	the	the	DET
ftr-493	400	3	one	one	NUM
ftr-493	400	4	hand	hand	NOUN
ftr-493	400	5	,	,	PUNCT
ftr-493	400	6	by	by	ADP
ftr-493	400	7	entering	enter	VERB
ftr-493	400	8	into	into	ADP
ftr-493	400	9	the	the	DET
ftr-493	400	10	swap	swap	NOUN
ftr-493	400	11	,	,	PUNCT
ftr-493	400	12	a	a	PRON
ftr-493	400	13	has	have	AUX
ftr-493	400	14	effectively	effectively	ADV
ftr-493	400	15	insulated	insulate	VERB
ftr-493	400	16	itself	itself	PRON
ftr-493	400	17	from	from	ADP
ftr-493	400	18	the	the	DET
ftr-493	400	19	future	future	ADJ
ftr-493	400	20	price	price	NOUN
ftr-493	400	21	and	and	CCONJ
ftr-493	400	22	dividend	dividend	NOUN
ftr-493	400	23	performance	performance	NOUN
ftr-493	400	24	of	of	ADP
ftr-493	400	25	the	the	DET
ftr-493	400	26	underlying	underlie	VERB
ftr-493	400	27	stocks	stock	NOUN
ftr-493	400	28	,	,	PUNCT
ftr-493	400	29	and	and	CCONJ
ftr-493	400	30	converted	convert	VERB
ftr-493	400	31	the	the	DET
ftr-493	400	32	return	return	NOUN
ftr-493	400	33	on	on	ADP
ftr-493	400	34	its	its	PRON
ftr-493	400	35	investment	investment	NOUN
ftr-493	400	36	from	from	ADP
ftr-493	400	37	an	an	DET
ftr-493	400	38	equitybased	equitybase	VERB
ftr-493	400	39	return	return	NOUN
ftr-493	400	40	into	into	ADP
ftr-493	400	41	a	a	DET
ftr-493	400	42	debt	debt	NOUN
ftr-493	400	43	-	-	PUNCT
ftr-493	400	44	based	base	VERB
ftr-493	400	45	return	return	NOUN
ftr-493	400	46	,	,	PUNCT
ftr-493	400	47	and	and	CCONJ
ftr-493	400	48	b	b	NOUN
ftr-493	400	49	has	have	AUX
ftr-493	400	50	acquired	acquire	VERB
ftr-493	400	51	a	a	DET
ftr-493	400	52	financial	financial	ADJ
ftr-493	400	53	asset	asset	NOUN
ftr-493	400	54	whose	whose	DET
ftr-493	400	55	return	return	NOUN
ftr-493	400	56	(	(	PUNCT
ftr-493	400	57	positive	positive	ADJ
ftr-493	400	58	or	or	CCONJ
ftr-493	400	59	negative	negative	ADJ
ftr-493	400	60	)	)	PUNCT
ftr-493	400	61	matches	match	VERB
ftr-493	400	62	the	the	DET
ftr-493	400	63	performance	performance	NOUN
ftr-493	400	64	of	of	ADP
ftr-493	400	65	the	the	DET
ftr-493	400	66	underlying	underlie	VERB
ftr-493	400	67	stocks	stock	NOUN
ftr-493	400	68	.	.	PUNCT
ftr-493	401	1	perhaps	perhaps	ADV
ftr-493	401	2	,	,	PUNCT
ftr-493	401	3	then	then	ADV
ftr-493	401	4	,	,	PUNCT
ftr-493	401	5	a	a	PRON
ftr-493	401	6	should	should	AUX
ftr-493	401	7	be	be	AUX
ftr-493	401	8	treated	treat	VERB
ftr-493	401	9	as	as	ADP
ftr-493	401	10	having	having	AUX
ftr-493	401	11	sold	sell	VERB
ftr-493	401	12	the	the	DET
ftr-493	401	13	stocks	stock	NOUN
ftr-493	401	14	to	to	ADP
ftr-493	401	15	b	b	NOUN
ftr-493	401	16	in	in	ADP
ftr-493	401	17	exchange	exchange	NOUN
ftr-493	401	18	for	for	ADP
ftr-493	401	19	b	b	PROPN
ftr-493	401	20	's	's	PART
ftr-493	401	21	libor	libor	PROPN
ftr-493	401	22	-	-	PUNCT
ftr-493	401	23	based	base	VERB
ftr-493	401	24	payments	payment	NOUN
ftr-493	401	25	.	.	PUNCT
ftr-493	402	1	on	on	ADP
ftr-493	402	2	the	the	DET
ftr-493	402	3	other	other	ADJ
ftr-493	402	4	hand	hand	NOUN
ftr-493	402	5	,	,	PUNCT
ftr-493	402	6	applying	apply	VERB
ftr-493	402	7	the	the	DET
ftr-493	402	8	traditional	traditional	ADJ
ftr-493	402	9	tests	test	NOUN
ftr-493	402	10	for	for	ADP
ftr-493	402	11	determining	determine	VERB
ftr-493	402	12	who	who	PRON
ftr-493	402	13	is	be	AUX
ftr-493	402	14	the	the	DET
ftr-493	402	15	owner	owner	NOUN
ftr-493	402	16	of	of	ADP
ftr-493	402	17	assets	asset	NOUN
ftr-493	402	18	for	for	ADP
ftr-493	402	19	tax	tax	NOUN
ftr-493	402	20	purposes	purpose	NOUN
ftr-493	402	21	and	and	CCONJ
ftr-493	402	22	absent	absent	ADJ
ftr-493	402	23	special	special	ADJ
ftr-493	402	24	circumstances	circumstance	NOUN
ftr-493	402	25	,	,	PUNCT
ftr-493	402	26	"	"	PUNCT
ftr-493	402	27	it	it	PRON
ftr-493	402	28	is	be	AUX
ftr-493	402	29	hard	hard	ADJ
ftr-493	402	30	to	to	PART
ftr-493	402	31	see	see	VERB
ftr-493	402	32	how	how	SCONJ
ftr-493	402	33	b	b	NOUN
ftr-493	402	34	could	could	AUX
ftr-493	402	35	be	be	AUX
ftr-493	402	36	treated	treat	VERB
ftr-493	402	37	recognized	recognize	VERB
ftr-493	402	38	stock	stock	NOUN
ftr-493	402	39	index	index	NOUN
ftr-493	402	40	,	,	PUNCT
ftr-493	402	41	rather	rather	ADV
ftr-493	402	42	than	than	ADP
ftr-493	402	43	on	on	ADP
ftr-493	402	44	the	the	DET
ftr-493	402	45	performance	performance	NOUN
ftr-493	402	46	of	of	ADP
ftr-493	402	47	one	one	NUM
ftr-493	402	48	or	or	CCONJ
ftr-493	402	49	more	more	ADV
ftr-493	402	50	discrete	discrete	ADJ
ftr-493	402	51	stocks	stock	NOUN
ftr-493	402	52	.	.	PUNCT
ftr-493	403	1	58	58	NUM
ftr-493	403	2	.	.	PUNCT
ftr-493	404	1	for	for	ADP
ftr-493	404	2	example	example	NOUN
ftr-493	404	3	,	,	PUNCT
ftr-493	404	4	this	this	PRON
ftr-493	404	5	assumes	assume	VERB
ftr-493	404	6	that	that	SCONJ
ftr-493	404	7	(	(	PUNCT
ftr-493	404	8	i	i	NOUN
ftr-493	404	9	)	)	PUNCT
ftr-493	404	10	a	a	PRON
ftr-493	404	11	has	have	AUX
ftr-493	404	12	not	not	PART
ftr-493	404	13	granted	grant	VERB
ftr-493	404	14	b	b	ADP
ftr-493	404	15	a	a	DET
ftr-493	404	16	voting	voting	NOUN
ftr-493	404	17	proxy	proxy	NOUN
ftr-493	404	18	,	,	PUNCT
ftr-493	404	19	or	or	CCONJ
ftr-493	404	20	any	any	DET
ftr-493	404	21	type	type	NOUN
ftr-493	404	22	of	of	ADP
ftr-493	404	23	call	call	NOUN
ftr-493	404	24	option	option	NOUN
ftr-493	404	25	or	or	CCONJ
ftr-493	404	26	forward	forward	ADV
ftr-493	404	27	or	or	CCONJ
ftr-493	404	28	futures	future	NOUN
ftr-493	404	29	contract	contract	NOUN
ftr-493	404	30	,	,	PUNCT
ftr-493	404	31	with	with	ADP
ftr-493	404	32	respect	respect	NOUN
ftr-493	404	33	to	to	ADP
ftr-493	404	34	the	the	DET
ftr-493	404	35	underlying	underlie	VERB
ftr-493	404	36	stocks	stock	NOUN
ftr-493	404	37	,	,	PUNCT
ftr-493	404	38	(	(	PUNCT
ftr-493	404	39	ii	ii	NOUN
ftr-493	404	40	)	)	PUNCT
ftr-493	404	41	a	a	PRON
ftr-493	404	42	is	be	AUX
ftr-493	404	43	a	a	DET
ftr-493	404	44	creditworthy	creditworthy	ADJ
ftr-493	404	45	party	party	NOUN
ftr-493	404	46	and	and	CCONJ
ftr-493	404	47	that	that	SCONJ
ftr-493	404	48	a	a	PRON
ftr-493	404	49	's	's	PART
ftr-493	404	50	obligations	obligation	NOUN
ftr-493	404	51	under	under	ADP
ftr-493	404	52	the	the	DET
ftr-493	404	53	swap	swap	NOUN
ftr-493	404	54	are	be	AUX
ftr-493	404	55	fully	fully	ADV
ftr-493	404	56	recourse	recourse	VERB
ftr-493	404	57	to	to	ADP
ftr-493	404	58	a	a	PRON
ftr-493	404	59	and	and	CCONJ
ftr-493	404	60	its	its	PRON
ftr-493	404	61	assets	asset	NOUN
ftr-493	404	62	,	,	PUNCT
ftr-493	404	63	and	and	CCONJ
ftr-493	404	64	a	a	PRON
ftr-493	404	65	is	be	AUX
ftr-493	404	66	not	not	PART
ftr-493	404	67	required	require	VERB
ftr-493	404	68	to	to	PART
ftr-493	404	69	deposit	deposit	VERB
ftr-493	404	70	in	in	ADP
ftr-493	404	71	escrow	escrow	NOUN
ftr-493	404	72	,	,	PUNCT
ftr-493	404	73	grant	grant	VERB
ftr-493	404	74	b	b	PROPN
ftr-493	404	75	a	a	DET
ftr-493	404	76	pledge	pledge	NOUN
ftr-493	404	77	or	or	CCONJ
ftr-493	404	78	other	other	ADJ
ftr-493	404	79	security	security	NOUN
ftr-493	404	80	interest	interest	NOUN
ftr-493	404	81	in	in	ADP
ftr-493	404	82	,	,	PUNCT
ftr-493	404	83	or	or	CCONJ
ftr-493	404	84	give	give	VERB
ftr-493	404	85	b	b	PRON
ftr-493	404	86	possession	possession	NOUN
ftr-493	404	87	of	of	ADP
ftr-493	404	88	,	,	PUNCT
ftr-493	404	89	the	the	DET
ftr-493	404	90	stocks	stock	NOUN
ftr-493	404	91	in	in	ADP
ftr-493	404	92	order	order	NOUN
ftr-493	404	93	to	to	PART
ftr-493	404	94	secure	secure	VERB
ftr-493	404	95	its	its	PRON
ftr-493	404	96	performance	performance	NOUN
ftr-493	404	97	under	under	ADP
ftr-493	404	98	the	the	DET
ftr-493	404	99	swap	swap	NOUN
ftr-493	404	100	,	,	PUNCT
ftr-493	404	101	(	(	PUNCT
ftr-493	404	102	iii	iii	X
ftr-493	404	103	)	)	PUNCT
ftr-493	404	104	a	a	PRON
ftr-493	404	105	is	be	AUX
ftr-493	404	106	not	not	PART
ftr-493	404	107	required	require	VERB
ftr-493	404	108	to	to	PART
ftr-493	404	109	continue	continue	VERB
ftr-493	404	110	to	to	PART
ftr-493	404	111	own	own	VERB
ftr-493	404	112	all	all	DET
ftr-493	404	113	or	or	CCONJ
ftr-493	404	114	any	any	PRON
ftr-493	404	115	portion	portion	NOUN
ftr-493	404	116	of	of	ADP
ftr-493	404	117	the	the	DET
ftr-493	404	118	existing	exist	VERB
ftr-493	404	119	stock	stock	NOUN
ftr-493	404	120	portfolio	portfolio	NOUN
ftr-493	404	121	,	,	PUNCT
ftr-493	404	122	b	b	PROPN
ftr-493	404	123	has	have	VERB
ftr-493	404	124	[	[	X
ftr-493	404	125	vol	vol	X
ftr-493	404	126	1:5	1:5	NUM
ftr-493	404	127	selected	select	VERB
ftr-493	404	128	issues	issue	NOUN
ftr-493	404	129	in	in	ADP
ftr-493	404	130	the	the	DET
ftr-493	404	131	taxation	taxation	NOUN
ftr-493	404	132	of	of	ADP
ftr-493	404	133	swaps	swap	NOUN
ftr-493	404	134	as	as	ADP
ftr-493	404	135	the	the	DET
ftr-493	404	136	owner	owner	NOUN
ftr-493	404	137	of	of	ADP
ftr-493	404	138	the	the	DET
ftr-493	404	139	stocks	stock	NOUN
ftr-493	404	140	for	for	ADP
ftr-493	404	141	tax	tax	NOUN
ftr-493	404	142	purposes	purpose	NOUN
ftr-493	404	143	,	,	PUNCT
ftr-493	404	144	or	or	CCONJ
ftr-493	404	145	a	a	PRON
ftr-493	404	146	could	could	AUX
ftr-493	404	147	be	be	AUX
ftr-493	404	148	treated	treat	VERB
ftr-493	404	149	as	as	ADP
ftr-493	404	150	having	having	AUX
ftr-493	404	151	ceased	cease	VERB
ftr-493	404	152	to	to	PART
ftr-493	404	153	be	be	AUX
ftr-493	404	154	the	the	DET
ftr-493	404	155	owner	owner	NOUN
ftr-493	404	156	of	of	ADP
ftr-493	404	157	those	those	DET
ftr-493	404	158	securities	security	NOUN
ftr-493	404	159	.	.	PUNCT
ftr-493	405	1	for	for	ADP
ftr-493	405	2	corporate	corporate	ADJ
ftr-493	405	3	law	law	NOUN
ftr-493	405	4	purposes	purpose	NOUN
ftr-493	405	5	,	,	PUNCT
ftr-493	405	6	only	only	ADV
ftr-493	405	7	a	a	PRON
ftr-493	405	8	,	,	PUNCT
ftr-493	405	9	and	and	CCONJ
ftr-493	405	10	not	not	PART
ftr-493	405	11	b	b	NOUN
ftr-493	405	12	,	,	PUNCT
ftr-493	405	13	is	be	AUX
ftr-493	405	14	recognized	recognize	VERB
ftr-493	405	15	as	as	ADP
ftr-493	405	16	a	a	DET
ftr-493	405	17	shareholder	shareholder	NOUN
ftr-493	405	18	of	of	ADP
ftr-493	405	19	the	the	DET
ftr-493	405	20	issuers	issuer	NOUN
ftr-493	405	21	of	of	ADP
ftr-493	405	22	the	the	DET
ftr-493	405	23	underlying	underlie	VERB
ftr-493	405	24	stocks	stock	NOUN
ftr-493	405	25	.	.	PUNCT
ftr-493	406	1	thus	thus	ADV
ftr-493	406	2	,	,	PUNCT
ftr-493	406	3	it	it	PRON
ftr-493	406	4	is	be	AUX
ftr-493	406	5	a	a	PRON
ftr-493	406	6	,	,	PUNCT
ftr-493	406	7	and	and	CCONJ
ftr-493	406	8	not	not	PART
ftr-493	406	9	b	b	NOUN
ftr-493	406	10	,	,	PUNCT
ftr-493	406	11	that	that	PRON
ftr-493	406	12	has	have	VERB
ftr-493	406	13	the	the	DET
ftr-493	406	14	right	right	NOUN
ftr-493	406	15	to	to	PART
ftr-493	406	16	vote	vote	VERB
ftr-493	406	17	those	those	DET
ftr-493	406	18	shares	share	NOUN
ftr-493	406	19	,	,	PUNCT
ftr-493	406	20	to	to	PART
ftr-493	406	21	receive	receive	VERB
ftr-493	406	22	dividends	dividend	NOUN
ftr-493	406	23	and	and	CCONJ
ftr-493	406	24	to	to	PART
ftr-493	406	25	participate	participate	VERB
ftr-493	406	26	in	in	ADP
ftr-493	406	27	liquidating	liquidating	NOUN
ftr-493	406	28	distributions	distribution	NOUN
ftr-493	406	29	;	;	PUNCT
ftr-493	406	30	all	all	DET
ftr-493	406	31	b	b	NOUN
ftr-493	406	32	has	have	AUX
ftr-493	406	33	is	be	AUX
ftr-493	406	34	a	a	DET
ftr-493	406	35	creditor	creditor	NOUN
ftr-493	406	36	's	's	PART
ftr-493	406	37	claim	claim	NOUN
ftr-493	406	38	,	,	PUNCT
ftr-493	406	39	unsecured	unsecured	ADJ
ftr-493	406	40	or	or	CCONJ
ftr-493	406	41	secured	secure	VERB
ftr-493	406	42	by	by	ADP
ftr-493	406	43	assets	asset	NOUN
ftr-493	406	44	other	other	ADJ
ftr-493	406	45	than	than	ADP
ftr-493	406	46	the	the	DET
ftr-493	406	47	stocks	stock	NOUN
ftr-493	406	48	,	,	PUNCT
ftr-493	406	49	to	to	PART
ftr-493	406	50	receive	receive	VERB
ftr-493	406	51	payments	payment	NOUN
ftr-493	406	52	from	from	ADP
ftr-493	406	53	a	a	PRON
ftr-493	406	54	based	base	VERB
ftr-493	406	55	on	on	ADP
ftr-493	406	56	the	the	DET
ftr-493	406	57	economic	economic	ADJ
ftr-493	406	58	performance	performance	NOUN
ftr-493	406	59	of	of	ADP
ftr-493	406	60	those	those	DET
ftr-493	406	61	stocks	stock	NOUN
ftr-493	406	62	.	.	PUNCT
ftr-493	407	1	a	a	PRON
ftr-493	407	2	is	be	AUX
ftr-493	407	3	under	under	ADP
ftr-493	407	4	no	no	DET
ftr-493	407	5	obligation	obligation	NOUN
ftr-493	407	6	to	to	PART
ftr-493	407	7	continue	continue	VERB
ftr-493	407	8	to	to	PART
ftr-493	407	9	hold	hold	VERB
ftr-493	407	10	all	all	DET
ftr-493	407	11	or	or	CCONJ
ftr-493	407	12	any	any	PRON
ftr-493	407	13	portion	portion	NOUN
ftr-493	407	14	of	of	ADP
ftr-493	407	15	the	the	DET
ftr-493	407	16	existing	exist	VERB
ftr-493	407	17	stock	stock	NOUN
ftr-493	407	18	portfolio	portfolio	NOUN
ftr-493	407	19	,	,	PUNCT
ftr-493	407	20	and	and	CCONJ
ftr-493	407	21	b	b	NOUN
ftr-493	407	22	has	have	VERB
ftr-493	407	23	no	no	DET
ftr-493	407	24	right	right	NOUN
ftr-493	407	25	to	to	PART
ftr-493	407	26	obtain	obtain	VERB
ftr-493	407	27	any	any	PRON
ftr-493	407	28	or	or	CCONJ
ftr-493	407	29	all	all	PRON
ftr-493	407	30	of	of	ADP
ftr-493	407	31	those	those	DET
ftr-493	407	32	shares	share	NOUN
ftr-493	407	33	from	from	ADP
ftr-493	407	34	a	a	PRON
ftr-493	407	35	;	;	PUNCT
ftr-493	407	36	thus	thus	ADV
ftr-493	407	37	,	,	PUNCT
ftr-493	407	38	there	there	PRON
ftr-493	407	39	is	be	VERB
ftr-493	407	40	no	no	DET
ftr-493	407	41	necessary	necessary	ADJ
ftr-493	407	42	relationship	relationship	NOUN
ftr-493	407	43	between	between	ADP
ftr-493	407	44	the	the	DET
ftr-493	407	45	payments	payment	NOUN
ftr-493	407	46	to	to	PART
ftr-493	407	47	be	be	AUX
ftr-493	407	48	made	make	VERB
ftr-493	407	49	by	by	ADP
ftr-493	407	50	a	a	DET
ftr-493	407	51	to	to	PART
ftr-493	407	52	b	b	NOUN
ftr-493	407	53	under	under	ADP
ftr-493	407	54	the	the	DET
ftr-493	407	55	swap	swap	NOUN
ftr-493	407	56	and	and	CCONJ
ftr-493	407	57	particular	particular	ADJ
ftr-493	407	58	(	(	PUNCT
ftr-493	407	59	or	or	CCONJ
ftr-493	407	60	,	,	PUNCT
ftr-493	407	61	for	for	ADP
ftr-493	407	62	that	that	DET
ftr-493	407	63	matter	matter	NOUN
ftr-493	407	64	,	,	PUNCT
ftr-493	407	65	any	any	DET
ftr-493	407	66	)	)	PUNCT
ftr-493	407	67	shares	share	NOUN
ftr-493	407	68	of	of	ADP
ftr-493	407	69	physical	physical	ADJ
ftr-493	407	70	stock	stock	NOUN
ftr-493	407	71	.	.	PUNCT
ftr-493	408	1	"	"	PUNCT
ftr-493	408	2	'	'	PUNCT
ftr-493	408	3	moreover	moreover	ADV
ftr-493	408	4	,	,	PUNCT
ftr-493	408	5	unlike	unlike	ADP
ftr-493	408	6	a	a	DET
ftr-493	408	7	(	(	PUNCT
ftr-493	408	8	non	non	ADJ
ftr-493	408	9	-	-	ADJ
ftr-493	408	10	cash	cash	ADJ
ftr-493	408	11	settled	settle	VERB
ftr-493	408	12	)	)	PUNCT
ftr-493	408	13	option	option	NOUN
ftr-493	408	14	or	or	CCONJ
ftr-493	408	15	futures	future	NOUN
ftr-493	408	16	or	or	CCONJ
ftr-493	408	17	forward	forward	ADJ
ftr-493	408	18	contract	contract	NOUN
ftr-493	408	19	,	,	PUNCT
ftr-493	408	20	b	b	PROPN
ftr-493	408	21	's	's	PART
ftr-493	408	22	interest	interest	NOUN
ftr-493	408	23	under	under	ADP
ftr-493	408	24	the	the	DET
ftr-493	408	25	swap	swap	NOUN
ftr-493	408	26	will	will	AUX
ftr-493	408	27	never	never	ADV
ftr-493	408	28	ripen	ripen	VERB
ftr-493	408	29	into	into	ADP
ftr-493	408	30	physical	physical	ADJ
ftr-493	408	31	ownership	ownership	NOUN
ftr-493	408	32	of	of	ADP
ftr-493	408	33	shares	share	NOUN
ftr-493	408	34	.	.	PUNCT
ftr-493	409	1	a	a	DET
ftr-493	409	2	remains	remain	NOUN
ftr-493	409	3	free	free	ADJ
ftr-493	409	4	to	to	PART
ftr-493	409	5	alter	alter	VERB
ftr-493	409	6	the	the	DET
ftr-493	409	7	basket	basket	NOUN
ftr-493	409	8	's	's	PART
ftr-493	409	9	composition	composition	NOUN
ftr-493	409	10	by	by	ADP
ftr-493	409	11	buying	buy	VERB
ftr-493	409	12	new	new	ADJ
ftr-493	409	13	stock	stock	NOUN
ftr-493	409	14	or	or	CCONJ
ftr-493	409	15	selling	sell	VERB
ftr-493	409	16	stocks	stock	NOUN
ftr-493	409	17	contained	contain	VERB
ftr-493	409	18	in	in	ADP
ftr-493	409	19	the	the	DET
ftr-493	409	20	underlying	underlie	VERB
ftr-493	409	21	portfolio	portfolio	NOUN
ftr-493	409	22	and	and	CCONJ
ftr-493	409	23	is	be	AUX
ftr-493	409	24	not	not	PART
ftr-493	409	25	required	require	VERB
ftr-493	409	26	to	to	PART
ftr-493	409	27	pay	pay	VERB
ftr-493	409	28	over	over	ADP
ftr-493	409	29	any	any	PRON
ftr-493	409	30	of	of	ADP
ftr-493	409	31	those	those	DET
ftr-493	409	32	proceeds	proceed	NOUN
ftr-493	409	33	to	to	ADP
ftr-493	409	34	b	b	NOUN
ftr-493	409	35	;	;	PUNCT
ftr-493	409	36	thus	thus	ADV
ftr-493	409	37	,	,	PUNCT
ftr-493	409	38	the	the	DET
ftr-493	409	39	actual	actual	ADJ
ftr-493	409	40	return	return	NOUN
ftr-493	409	41	in	in	ADP
ftr-493	409	42	any	any	DET
ftr-493	409	43	month	month	NOUN
ftr-493	409	44	on	on	ADP
ftr-493	409	45	the	the	DET
ftr-493	409	46	underlying	underlie	VERB
ftr-493	409	47	portfolio	portfolio	NOUN
ftr-493	409	48	may	may	AUX
ftr-493	409	49	differ	differ	VERB
ftr-493	409	50	dramatically	dramatically	ADV
ftr-493	409	51	from	from	ADP
ftr-493	409	52	the	the	DET
ftr-493	409	53	amount	amount	NOUN
ftr-493	409	54	a	a	PRON
ftr-493	409	55	is	be	AUX
ftr-493	409	56	required	require	VERB
ftr-493	409	57	to	to	PART
ftr-493	409	58	pay	pay	VERB
ftr-493	409	59	b	b	NOUN
ftr-493	409	60	under	under	ADP
ftr-493	409	61	the	the	DET
ftr-493	409	62	swap	swap	NOUN
ftr-493	409	63	,	,	PUNCT
ftr-493	409	64	and	and	CCONJ
ftr-493	409	65	,	,	PUNCT
ftr-493	409	66	depending	depend	VERB
ftr-493	409	67	on	on	ADP
ftr-493	409	68	a	a	PRON
ftr-493	409	69	's	's	PART
ftr-493	409	70	willingness	willingness	NOUN
ftr-493	409	71	to	to	PART
ftr-493	409	72	assume	assume	VERB
ftr-493	409	73	speculative	speculative	ADJ
ftr-493	409	74	risk	risk	NOUN
ftr-493	409	75	,	,	PUNCT
ftr-493	409	76	it	it	PRON
ftr-493	409	77	can	can	AUX
ftr-493	409	78	continue	continue	VERB
ftr-493	409	79	to	to	PART
ftr-493	409	80	benefit	benefit	VERB
ftr-493	409	81	from	from	ADP
ftr-493	409	82	favorable	favorable	ADJ
ftr-493	409	83	price	price	NOUN
ftr-493	409	84	movements	movement	NOUN
ftr-493	409	85	,	,	PUNCT
ftr-493	409	86	and	and	CCONJ
ftr-493	409	87	may	may	AUX
ftr-493	409	88	suffer	suffer	VERB
ftr-493	409	89	the	the	DET
ftr-493	409	90	detriment	detriment	NOUN
ftr-493	409	91	of	of	ADP
ftr-493	409	92	adverse	adverse	ADJ
ftr-493	409	93	price	price	NOUN
ftr-493	409	94	movements	movement	NOUN
ftr-493	409	95	,	,	PUNCT
ftr-493	409	96	with	with	ADP
ftr-493	409	97	respect	respect	NOUN
ftr-493	409	98	to	to	ADP
ftr-493	409	99	the	the	DET
ftr-493	409	100	underlying	underlie	VERB
ftr-493	409	101	stocks	stock	NOUN
ftr-493	409	102	.	.	PUNCT
ftr-493	409	103	'	'	PUNCT
ftr-493	410	1	finally	finally	ADV
ftr-493	410	2	,	,	PUNCT
ftr-493	410	3	a	a	PRON
ftr-493	410	4	retains	retain	VERB
ftr-493	410	5	a	a	DET
ftr-493	410	6	$	$	SYM
ftr-493	410	7	1,000x	1,000x	NUM
ftr-493	410	8	investment	investment	NOUN
ftr-493	410	9	no	no	DET
ftr-493	410	10	power	power	NOUN
ftr-493	410	11	to	to	PART
ftr-493	410	12	direct	direct	VERB
ftr-493	410	13	a	a	PRON
ftr-493	410	14	to	to	PART
ftr-493	410	15	dispose	dispose	VERB
ftr-493	410	16	of	of	ADP
ftr-493	410	17	all	all	PRON
ftr-493	410	18	or	or	CCONJ
ftr-493	410	19	a	a	DET
ftr-493	410	20	portion	portion	NOUN
ftr-493	410	21	of	of	ADP
ftr-493	410	22	the	the	DET
ftr-493	410	23	existing	exist	VERB
ftr-493	410	24	stock	stock	NOUN
ftr-493	410	25	portfolio	portfolio	NOUN
ftr-493	410	26	or	or	CCONJ
ftr-493	410	27	acquire	acquire	VERB
ftr-493	410	28	new	new	ADJ
ftr-493	410	29	or	or	CCONJ
ftr-493	410	30	additional	additional	ADJ
ftr-493	410	31	stocks	stock	NOUN
ftr-493	410	32	,	,	PUNCT
ftr-493	410	33	a	a	PRON
ftr-493	410	34	is	be	AUX
ftr-493	410	35	not	not	PART
ftr-493	410	36	required	require	VERB
ftr-493	410	37	to	to	PART
ftr-493	410	38	account	account	VERB
ftr-493	410	39	to	to	ADP
ftr-493	410	40	b	b	NOUN
ftr-493	410	41	with	with	ADP
ftr-493	410	42	respect	respect	NOUN
ftr-493	410	43	to	to	ADP
ftr-493	410	44	the	the	DET
ftr-493	410	45	proceeds	proceed	NOUN
ftr-493	410	46	of	of	ADP
ftr-493	410	47	any	any	DET
ftr-493	410	48	such	such	ADJ
ftr-493	410	49	dispositions	disposition	NOUN
ftr-493	410	50	,	,	PUNCT
ftr-493	410	51	and	and	CCONJ
ftr-493	410	52	,	,	PUNCT
ftr-493	410	53	regardless	regardless	ADV
ftr-493	410	54	of	of	ADP
ftr-493	410	55	any	any	DET
ftr-493	410	56	such	such	ADJ
ftr-493	410	57	dispositions	disposition	NOUN
ftr-493	410	58	or	or	CCONJ
ftr-493	410	59	acquisitions	acquisition	NOUN
ftr-493	410	60	,	,	PUNCT
ftr-493	410	61	the	the	DET
ftr-493	410	62	swap	swap	NOUN
ftr-493	410	63	continues	continue	VERB
ftr-493	410	64	to	to	PART
ftr-493	410	65	be	be	AUX
ftr-493	410	66	based	base	VERB
ftr-493	410	67	on	on	ADP
ftr-493	410	68	the	the	DET
ftr-493	410	69	djia	djia	PROPN
ftr-493	410	70	,	,	PUNCT
ftr-493	410	71	rather	rather	ADV
ftr-493	410	72	than	than	ADP
ftr-493	410	73	on	on	ADP
ftr-493	410	74	any	any	DET
ftr-493	410	75	particular	particular	ADJ
ftr-493	410	76	portfolio	portfolio	NOUN
ftr-493	410	77	of	of	ADP
ftr-493	410	78	stocks	stock	NOUN
ftr-493	410	79	held	hold	VERB
ftr-493	410	80	by	by	ADP
ftr-493	410	81	a	a	PRON
ftr-493	410	82	from	from	ADP
ftr-493	410	83	time	time	NOUN
ftr-493	410	84	to	to	ADP
ftr-493	410	85	time	time	NOUN
ftr-493	410	86	,	,	PUNCT
ftr-493	410	87	(	(	PUNCT
ftr-493	410	88	iv	iv	X
ftr-493	410	89	)	)	PUNCT
ftr-493	410	90	all	all	DET
ftr-493	410	91	payments	payment	NOUN
ftr-493	410	92	under	under	ADP
ftr-493	410	93	the	the	DET
ftr-493	410	94	swap	swap	NOUN
ftr-493	410	95	are	be	AUX
ftr-493	410	96	to	to	PART
ftr-493	410	97	be	be	AUX
ftr-493	410	98	made	make	VERB
ftr-493	410	99	in	in	ADP
ftr-493	410	100	cash	cash	NOUN
ftr-493	410	101	or	or	CCONJ
ftr-493	410	102	property	property	NOUN
ftr-493	410	103	other	other	ADJ
ftr-493	410	104	than	than	ADP
ftr-493	410	105	the	the	DET
ftr-493	410	106	underlying	underlie	VERB
ftr-493	410	107	stocks	stock	NOUN
ftr-493	410	108	,	,	PUNCT
ftr-493	410	109	and	and	CCONJ
ftr-493	410	110	(	(	PUNCT
ftr-493	410	111	v	v	NOUN
ftr-493	410	112	)	)	PUNCT
ftr-493	410	113	where	where	SCONJ
ftr-493	410	114	the	the	DET
ftr-493	410	115	underlying	underlie	VERB
ftr-493	410	116	stocks	stock	NOUN
ftr-493	410	117	have	have	VERB
ftr-493	410	118	a	a	DET
ftr-493	410	119	limited	limited	ADJ
ftr-493	410	120	life	life	NOUN
ftr-493	410	121	(	(	PUNCT
ftr-493	410	122	e.g.	e.g.	ADV
ftr-493	410	123	,	,	PUNCT
ftr-493	410	124	preferred	preferred	ADJ
ftr-493	410	125	stock	stock	NOUN
ftr-493	410	126	having	have	VERB
ftr-493	410	127	a	a	DET
ftr-493	410	128	fixed	fix	VERB
ftr-493	410	129	redemption	redemption	NOUN
ftr-493	410	130	date	date	NOUN
ftr-493	410	131	or	or	CCONJ
ftr-493	410	132	common	common	ADJ
ftr-493	410	133	stock	stock	NOUN
ftr-493	410	134	of	of	ADP
ftr-493	410	135	a	a	DET
ftr-493	410	136	corporation	corporation	NOUN
ftr-493	410	137	that	that	PRON
ftr-493	410	138	is	be	AUX
ftr-493	410	139	in	in	ADP
ftr-493	410	140	the	the	DET
ftr-493	410	141	process	process	NOUN
ftr-493	410	142	of	of	ADP
ftr-493	410	143	liquidating	liquidating	NOUN
ftr-493	410	144	or	or	CCONJ
ftr-493	410	145	,	,	PUNCT
ftr-493	410	146	like	like	ADP
ftr-493	410	147	a	a	DET
ftr-493	410	148	fixed	fix	VERB
ftr-493	410	149	pool	pool	NOUN
ftr-493	410	150	equity	equity	NOUN
ftr-493	410	151	real	real	ADJ
ftr-493	410	152	estate	estate	NOUN
ftr-493	410	153	investment	investment	NOUN
ftr-493	410	154	trust	trust	NOUN
ftr-493	410	155	,	,	PUNCT
ftr-493	410	156	has	have	VERB
ftr-493	410	157	a	a	DET
ftr-493	410	158	limited	limited	ADJ
ftr-493	410	159	expected	expect	VERB
ftr-493	410	160	life	life	NOUN
ftr-493	410	161	)	)	PUNCT
ftr-493	410	162	,	,	PUNCT
ftr-493	410	163	the	the	DET
ftr-493	410	164	term	term	NOUN
ftr-493	410	165	of	of	ADP
ftr-493	410	166	the	the	DET
ftr-493	410	167	equity	equity	NOUN
ftr-493	410	168	swap	swap	NOUN
ftr-493	410	169	is	be	AUX
ftr-493	410	170	not	not	PART
ftr-493	410	171	substantially	substantially	ADV
ftr-493	410	172	coterminous	coterminous	ADJ
ftr-493	410	173	with	with	ADP
ftr-493	410	174	the	the	DET
ftr-493	410	175	anticipated	anticipate	VERB
ftr-493	410	176	life	life	NOUN
ftr-493	410	177	of	of	ADP
ftr-493	410	178	the	the	DET
ftr-493	410	179	stocks	stock	NOUN
ftr-493	410	180	.	.	PUNCT
ftr-493	411	1	these	these	DET
ftr-493	411	2	assumptions	assumption	NOUN
ftr-493	411	3	are	be	AUX
ftr-493	411	4	consistent	consistent	ADJ
ftr-493	411	5	with	with	ADP
ftr-493	411	6	current	current	ADJ
ftr-493	411	7	market	market	NOUN
ftr-493	411	8	practice	practice	NOUN
ftr-493	411	9	.	.	PUNCT
ftr-493	412	1	59	59	NUM
ftr-493	412	2	.	.	PUNCT
ftr-493	412	3	cf	cf	NOUN
ftr-493	412	4	.	.	PUNCT
ftr-493	413	1	aiken	aiken	PROPN
ftr-493	413	2	indus	indus	PROPN
ftr-493	413	3	.	.	PROPN
ftr-493	413	4	,	,	PUNCT
ftr-493	413	5	inc	inc	PROPN
ftr-493	413	6	.	.	PROPN
ftr-493	414	1	v.	v.	PROPN
ftr-493	414	2	commissioner	commissioner	PROPN
ftr-493	414	3	,	,	PUNCT
ftr-493	414	4	56	56	NUM
ftr-493	414	5	t.c	t.c	PROPN
ftr-493	414	6	.	.	PROPN
ftr-493	414	7	925	925	NUM
ftr-493	414	8	(	(	PUNCT
ftr-493	414	9	1971	1971	NUM
ftr-493	414	10	)	)	PUNCT
ftr-493	414	11	,	,	PUNCT
ftr-493	414	12	acq	acq	PROPN
ftr-493	414	13	.	.	PROPN
ftr-493	414	14	1972	1972	NUM
ftr-493	414	15	-	-	SYM
ftr-493	414	16	1	1	NUM
ftr-493	414	17	c.b	c.b	PROPN
ftr-493	414	18	.	.	PROPN
ftr-493	414	19	1	1	NUM
ftr-493	414	20	and	and	CCONJ
ftr-493	414	21	rev	rev	PROPN
ftr-493	414	22	.	.	PROPN
ftr-493	415	1	rul	rul	NOUN
ftr-493	415	2	.	.	PUNCT
ftr-493	416	1	84	84	NUM
ftr-493	416	2	-	-	SYM
ftr-493	416	3	153	153	NUM
ftr-493	416	4	,	,	PUNCT
ftr-493	416	5	1984	1984	NUM
ftr-493	416	6	-	-	SYM
ftr-493	416	7	2	2	NUM
ftr-493	416	8	c.b	c.b	PROPN
ftr-493	416	9	.	.	PROPN
ftr-493	416	10	383	383	NUM
ftr-493	416	11	,	,	PUNCT
ftr-493	416	12	modified	modify	VERB
ftr-493	416	13	and	and	CCONJ
ftr-493	416	14	clarified	clarify	VERB
ftr-493	416	15	.	.	PUNCT
ftr-493	417	1	rev	rev	PROPN
ftr-493	417	2	.	.	PUNCT
ftr-493	418	1	rul	rul	PROPN
ftr-493	418	2	.	.	PUNCT
ftr-493	418	3	89	89	NUM
ftr-493	418	4	-	-	SYM
ftr-493	418	5	110	110	NUM
ftr-493	418	6	.	.	PUNCT
ftr-493	418	7	19892	19892	NUM
ftr-493	419	1	c.b	c.b	PROPN
ftr-493	419	2	.	.	PROPN
ftr-493	419	3	275	275	NUM
ftr-493	419	4	(	(	PUNCT
ftr-493	419	5	stating	state	VERB
ftr-493	419	6	that	that	SCONJ
ftr-493	419	7	where	where	SCONJ
ftr-493	419	8	a	a	DET
ftr-493	419	9	u.s	u.s	PROPN
ftr-493	419	10	.	.	PROPN
ftr-493	419	11	corporation	corporation	NOUN
ftr-493	419	12	makes	make	VERB
ftr-493	419	13	interest	interest	NOUN
ftr-493	419	14	payments	payment	NOUN
ftr-493	419	15	to	to	ADP
ftr-493	419	16	a	a	DET
ftr-493	419	17	foreign	foreign	ADJ
ftr-493	419	18	corporation	corporation	NOUN
ftr-493	419	19	that	that	PRON
ftr-493	419	20	is	be	AUX
ftr-493	419	21	obligated	obligate	VERB
ftr-493	419	22	to	to	PART
ftr-493	419	23	make	make	VERB
ftr-493	419	24	corresponding	corresponding	ADJ
ftr-493	419	25	interest	interest	NOUN
ftr-493	419	26	payments	payment	NOUN
ftr-493	419	27	to	to	ADP
ftr-493	419	28	another	another	DET
ftr-493	419	29	person	person	NOUN
ftr-493	419	30	,	,	PUNCT
ftr-493	419	31	that	that	DET
ftr-493	419	32	person	person	NOUN
ftr-493	419	33	and	and	CCONJ
ftr-493	419	34	not	not	PART
ftr-493	419	35	the	the	DET
ftr-493	419	36	original	original	ADJ
ftr-493	419	37	payee	payee	NOUN
ftr-493	419	38	shall	shall	AUX
ftr-493	419	39	be	be	AUX
ftr-493	419	40	treated	treat	VERB
ftr-493	419	41	as	as	ADP
ftr-493	419	42	the	the	DET
ftr-493	419	43	recipient	recipient	NOUN
ftr-493	419	44	of	of	ADP
ftr-493	419	45	the	the	DET
ftr-493	419	46	u.s	u.s	PROPN
ftr-493	419	47	.	.	PROPN
ftr-493	419	48	corporation	corporation	PROPN
ftr-493	419	49	's	's	PART
ftr-493	419	50	payments	payment	NOUN
ftr-493	419	51	for	for	ADP
ftr-493	419	52	withholding	withhold	VERB
ftr-493	419	53	tax	tax	NOUN
ftr-493	419	54	purposes	purpose	NOUN
ftr-493	419	55	)	)	PUNCT
ftr-493	419	56	;	;	PUNCT
ftr-493	419	57	rev	rev	PROPN
ftr-493	419	58	.	.	PROPN
ftr-493	419	59	rul	rul	PROPN
ftr-493	419	60	77	77	NUM
ftr-493	419	61	-	-	SYM
ftr-493	419	62	137	137	NUM
ftr-493	419	63	,	,	PUNCT
ftr-493	419	64	1977	1977	NUM
ftr-493	419	65	-	-	SYM
ftr-493	419	66	1	1	NUM
ftr-493	419	67	c.b	c.b	PROPN
ftr-493	419	68	.	.	PROPN
ftr-493	419	69	178	178	NUM
ftr-493	419	70	(	(	PUNCT
ftr-493	419	71	holding	hold	VERB
ftr-493	419	72	that	that	SCONJ
ftr-493	419	73	an	an	DET
ftr-493	419	74	assignee	assignee	NOUN
ftr-493	419	75	of	of	ADP
ftr-493	419	76	the	the	DET
ftr-493	419	77	interest	interest	NOUN
ftr-493	419	78	of	of	ADP
ftr-493	419	79	a	a	DET
ftr-493	419	80	limited	limited	ADJ
ftr-493	419	81	partner	partner	NOUN
ftr-493	419	82	shall	shall	AUX
ftr-493	419	83	be	be	AUX
ftr-493	419	84	treated	treat	VERB
ftr-493	419	85	as	as	ADP
ftr-493	419	86	a	a	DET
ftr-493	419	87	substituted	substitute	VERB
ftr-493	419	88	limited	limited	ADJ
ftr-493	419	89	partner	partner	NOUN
ftr-493	419	90	for	for	ADP
ftr-493	419	91	federal	federal	ADJ
ftr-493	419	92	income	income	NOUN
ftr-493	419	93	tax	tax	NOUN
ftr-493	419	94	purposes	purpose	NOUN
ftr-493	419	95	)	)	PUNCT
ftr-493	419	96	.	.	PUNCT
ftr-493	420	1	60	60	NUM
ftr-493	420	2	.	.	PUNCT
ftr-493	421	1	this	this	PRON
ftr-493	421	2	results	result	VERB
ftr-493	421	3	from	from	ADP
ftr-493	421	4	the	the	DET
ftr-493	421	5	fact	fact	NOUN
ftr-493	421	6	that	that	SCONJ
ftr-493	421	7	the	the	DET
ftr-493	421	8	swap	swap	NOUN
ftr-493	421	9	is	be	AUX
ftr-493	421	10	based	base	VERB
ftr-493	421	11	on	on	ADP
ftr-493	421	12	the	the	DET
ftr-493	421	13	djia	djia	PROPN
ftr-493	421	14	.	.	PUNCT
ftr-493	422	1	rather	rather	ADV
ftr-493	422	2	than	than	ADP
ftr-493	422	3	on	on	ADP
ftr-493	422	4	any	any	DET
ftr-493	422	5	particular	particular	ADJ
ftr-493	422	6	stock	stock	NOUN
ftr-493	422	7	portfolio	portfolio	NOUN
ftr-493	422	8	owned	own	VERB
ftr-493	422	9	by	by	ADP
ftr-493	422	10	a	a	PRON
ftr-493	422	11	,	,	PUNCT
ftr-493	422	12	and	and	CCONJ
ftr-493	422	13	on	on	ADP
ftr-493	422	14	price	price	NOUN
ftr-493	422	15	changes	change	NOUN
ftr-493	422	16	as	as	ADP
ftr-493	422	17	determined	determine	VERB
ftr-493	422	18	using	use	VERB
ftr-493	422	19	month	month	NOUN
ftr-493	422	20	-	-	PUNCT
ftr-493	422	21	end	end	NOUN
ftr-493	422	22	closing	closing	NOUN
ftr-493	422	23	prices	price	NOUN
ftr-493	422	24	,	,	PUNCT
ftr-493	422	25	rather	rather	ADV
ftr-493	422	26	than	than	ADP
ftr-493	422	27	on	on	ADP
ftr-493	422	28	the	the	DET
ftr-493	422	29	results	result	NOUN
ftr-493	422	30	of	of	ADP
ftr-493	422	31	particular	particular	ADJ
ftr-493	422	32	sale	sale	NOUN
ftr-493	422	33	or	or	CCONJ
ftr-493	422	34	purchase	purchase	NOUN
ftr-493	422	35	transactions	transaction	NOUN
ftr-493	422	36	.	.	PUNCT
ftr-493	423	1	of	of	ADP
ftr-493	423	2	course	course	NOUN
ftr-493	423	3	,	,	PUNCT
ftr-493	423	4	unless	unless	SCONJ
ftr-493	423	5	a	a	PRON
ftr-493	423	6	is	be	AUX
ftr-493	423	7	willing	willing	ADJ
ftr-493	423	8	to	to	PART
ftr-493	423	9	bear	bear	VERB
ftr-493	423	10	unhedged	unhedged	ADJ
ftr-493	423	11	exposure	exposure	NOUN
ftr-493	423	12	with	with	ADP
ftr-493	423	13	respect	respect	NOUN
ftr-493	423	14	to	to	ADP
ftr-493	423	15	its	its	PRON
ftr-493	423	16	liabilities	liability	NOUN
ftr-493	423	17	under	under	ADP
ftr-493	423	18	the	the	DET
ftr-493	423	19	swap	swap	NOUN
ftr-493	423	20	or	or	CCONJ
ftr-493	423	21	is	be	AUX
ftr-493	423	22	able	able	ADJ
ftr-493	423	23	to	to	PART
ftr-493	423	24	offset	offset	VERB
ftr-493	423	25	that	that	DET
ftr-493	423	26	exposure	exposure	NOUN
ftr-493	423	27	using	use	VERB
ftr-493	423	28	hedges	hedge	NOUN
ftr-493	423	29	other	other	ADJ
ftr-493	423	30	than	than	ADP
ftr-493	423	31	ownership	ownership	NOUN
ftr-493	423	32	of	of	ADP
ftr-493	423	33	physical	physical	ADJ
ftr-493	423	34	stocks	stock	NOUN
ftr-493	423	35	,	,	PUNCT
ftr-493	423	36	it	it	PRON
ftr-493	423	37	is	be	AUX
ftr-493	423	38	likely	likely	ADJ
ftr-493	423	39	19931	19931	NUM
ftr-493	423	40	florida	florida	PROPN
ftr-493	423	41	tax	tax	NOUN
ftr-493	423	42	review	review	NOUN
ftr-493	423	43	in	in	ADP
ftr-493	423	44	the	the	DET
ftr-493	423	45	portfolio	portfolio	NOUN
ftr-493	423	46	;	;	PUNCT
ftr-493	423	47	thus	thus	ADV
ftr-493	423	48	,	,	PUNCT
ftr-493	423	49	unlike	unlike	ADP
ftr-493	423	50	the	the	DET
ftr-493	423	51	situation	situation	NOUN
ftr-493	423	52	where	where	SCONJ
ftr-493	423	53	a	a	PRON
ftr-493	423	54	sells	sell	VERB
ftr-493	423	55	the	the	DET
ftr-493	423	56	portfolio	portfolio	NOUN
ftr-493	423	57	to	to	ADP
ftr-493	423	58	b	b	PROPN
ftr-493	423	59	in	in	ADP
ftr-493	423	60	exchange	exchange	NOUN
ftr-493	423	61	for	for	ADP
ftr-493	423	62	a	a	DET
ftr-493	423	63	note	note	NOUN
ftr-493	423	64	bearing	bear	VERB
ftr-493	423	65	a	a	DET
ftr-493	423	66	libor	libor	PROPN
ftr-493	423	67	interest	interest	NOUN
ftr-493	423	68	rate	rate	NOUN
ftr-493	423	69	,	,	PUNCT
ftr-493	423	70	a	a	PRON
ftr-493	423	71	has	have	AUX
ftr-493	423	72	not	not	PART
ftr-493	423	73	liquidated	liquidate	VERB
ftr-493	423	74	or	or	CCONJ
ftr-493	423	75	monetized	monetize	VERB
ftr-493	423	76	its	its	PRON
ftr-493	423	77	investment	investment	NOUN
ftr-493	423	78	in	in	ADP
ftr-493	423	79	the	the	DET
ftr-493	423	80	underlying	underlying	ADJ
ftr-493	423	81	stocks.6	stocks.6	PROPN
ftr-493	423	82	'	'	PUNCT
ftr-493	423	83	under	under	ADP
ftr-493	423	84	these	these	DET
ftr-493	423	85	circumstances	circumstance	NOUN
ftr-493	423	86	,	,	PUNCT
ftr-493	423	87	it	it	PRON
ftr-493	423	88	is	be	AUX
ftr-493	423	89	difficult	difficult	ADJ
ftr-493	423	90	to	to	PART
ftr-493	423	91	see	see	VERB
ftr-493	423	92	how	how	SCONJ
ftr-493	423	93	a	a	PRON
ftr-493	423	94	could	could	AUX
ftr-493	423	95	be	be	AUX
ftr-493	423	96	treated	treat	VERB
ftr-493	423	97	as	as	ADP
ftr-493	423	98	having	having	AUX
ftr-493	423	99	disposed	dispose	VERB
ftr-493	423	100	of	of	ADP
ftr-493	423	101	the	the	DET
ftr-493	423	102	stock	stock	NOUN
ftr-493	423	103	portfolio.62	portfolio.62	NOUN
ftr-493	424	1	3	3	NUM
ftr-493	424	2	.	.	X
ftr-493	424	3	deductibility	deductibility	NOUN
ftr-493	424	4	of	of	ADP
ftr-493	424	5	swap	swap	NOUN
ftr-493	424	6	payments	payment	NOUN
ftr-493	424	7	:	:	PUNCT
ftr-493	424	8	creation	creation	NOUN
ftr-493	424	9	of	of	ADP
ftr-493	424	10	synthetic	synthetic	ADJ
ftr-493	424	11	taxadvantaged	taxadvantage	VERB
ftr-493	424	12	assets	asset	NOUN
ftr-493	424	13	using	use	VERB
ftr-493	424	14	equity	equity	NOUN
ftr-493	424	15	swaps.-as	swaps.-as	PROPN
ftr-493	424	16	described	describe	VERB
ftr-493	424	17	above	above	ADV
ftr-493	424	18	,	,	PUNCT
ftr-493	424	19	a	a	PRON
ftr-493	424	20	is	be	AUX
ftr-493	424	21	obligated	obligate	VERB
ftr-493	424	22	to	to	PART
ftr-493	424	23	pay	pay	VERB
ftr-493	424	24	b	b	NOUN
ftr-493	424	25	each	each	DET
ftr-493	424	26	month	month	NOUN
ftr-493	424	27	under	under	ADP
ftr-493	424	28	the	the	DET
ftr-493	424	29	equity	equity	NOUN
ftr-493	424	30	swap	swap	NOUN
ftr-493	424	31	the	the	DET
ftr-493	424	32	positive	positive	ADJ
ftr-493	424	33	change	change	NOUN
ftr-493	424	34	,	,	PUNCT
ftr-493	424	35	if	if	SCONJ
ftr-493	424	36	any	any	PRON
ftr-493	424	37	,	,	PUNCT
ftr-493	424	38	in	in	ADP
ftr-493	424	39	the	the	DET
ftr-493	424	40	value	value	NOUN
ftr-493	424	41	of	of	ADP
ftr-493	424	42	the	the	DET
ftr-493	424	43	djia	djia	PROPN
ftr-493	424	44	over	over	ADP
ftr-493	424	45	the	the	DET
ftr-493	424	46	course	course	NOUN
ftr-493	424	47	of	of	ADP
ftr-493	424	48	the	the	DET
ftr-493	424	49	month	month	NOUN
ftr-493	424	50	.	.	PUNCT
ftr-493	425	1	if	if	SCONJ
ftr-493	425	2	a	a	PRON
ftr-493	425	3	is	be	AUX
ftr-493	425	4	allowed	allow	VERB
ftr-493	425	5	to	to	PART
ftr-493	425	6	deduct	deduct	VERB
ftr-493	425	7	those	those	DET
ftr-493	425	8	payments	payment	NOUN
ftr-493	425	9	currently	currently	ADV
ftr-493	425	10	,	,	PUNCT
ftr-493	425	11	while	while	SCONJ
ftr-493	425	12	,	,	PUNCT
ftr-493	425	13	at	at	ADP
ftr-493	425	14	the	the	DET
ftr-493	425	15	same	same	ADJ
ftr-493	425	16	time	time	NOUN
ftr-493	425	17	,	,	PUNCT
ftr-493	425	18	being	be	AUX
ftr-493	425	19	able	able	ADJ
ftr-493	425	20	to	to	PART
ftr-493	425	21	apply	apply	VERB
ftr-493	425	22	general	general	ADJ
ftr-493	425	23	tax	tax	NOUN
ftr-493	425	24	principles	principle	NOUN
ftr-493	425	25	to	to	PART
ftr-493	425	26	defer	defer	VERB
ftr-493	425	27	recognizing	recognize	VERB
ftr-493	425	28	the	the	DET
ftr-493	425	29	offsetting	offset	VERB
ftr-493	425	30	gain	gain	NOUN
ftr-493	425	31	in	in	ADP
ftr-493	425	32	its	its	PRON
ftr-493	425	33	long	long	ADJ
ftr-493	425	34	position	position	NOUN
ftr-493	425	35	in	in	ADP
ftr-493	425	36	the	the	DET
ftr-493	425	37	stocks	stock	NOUN
ftr-493	425	38	making	make	VERB
ftr-493	425	39	up	up	ADP
ftr-493	425	40	the	the	DET
ftr-493	425	41	djia	djia	NOUN
ftr-493	425	42	,	,	PUNCT
ftr-493	425	43	a	a	PRON
ftr-493	425	44	would	would	AUX
ftr-493	425	45	have	have	AUX
ftr-493	425	46	effectively	effectively	ADV
ftr-493	425	47	been	be	AUX
ftr-493	425	48	able	able	ADJ
ftr-493	425	49	to	to	PART
ftr-493	425	50	convert	convert	VERB
ftr-493	425	51	unrelated	unrelated	ADJ
ftr-493	425	52	income	income	NOUN
ftr-493	425	53	,	,	PUNCT
ftr-493	425	54	including	include	VERB
ftr-493	425	55	all	all	PRON
ftr-493	425	56	or	or	CCONJ
ftr-493	425	57	a	a	DET
ftr-493	425	58	portion	portion	NOUN
ftr-493	425	59	of	of	ADP
ftr-493	425	60	the	the	DET
ftr-493	425	61	libor	libor	PROPN
ftr-493	425	62	-	-	PUNCT
ftr-493	425	63	based	base	VERB
ftr-493	425	64	payments	payment	NOUN
ftr-493	425	65	received	receive	VERB
ftr-493	425	66	from	from	ADP
ftr-493	425	67	b	b	PROPN
ftr-493	425	68	under	under	ADP
ftr-493	425	69	the	the	DET
ftr-493	425	70	swap	swap	NOUN
ftr-493	425	71	,	,	PUNCT
ftr-493	425	72	into	into	ADP
ftr-493	425	73	unrealized	unrealized	ADJ
ftr-493	425	74	gain	gain	NOUN
ftr-493	425	75	on	on	ADP
ftr-493	425	76	the	the	DET
ftr-493	425	77	stocks.63	stocks.63	NOUN
ftr-493	425	78	once	once	ADV
ftr-493	425	79	again	again	ADV
ftr-493	425	80	,	,	PUNCT
ftr-493	425	81	a	a	PRON
ftr-493	425	82	would	would	AUX
ftr-493	425	83	have	have	AUX
ftr-493	425	84	been	be	AUX
ftr-493	425	85	able	able	ADJ
ftr-493	425	86	to	to	PART
ftr-493	425	87	create	create	VERB
ftr-493	425	88	a	a	DET
ftr-493	425	89	synthetic	synthetic	ADJ
ftr-493	425	90	taxthat	taxthat	NOUN
ftr-493	425	91	a	a	PRON
ftr-493	425	92	will	will	AUX
ftr-493	425	93	continue	continue	VERB
ftr-493	425	94	to	to	PART
ftr-493	425	95	hold	hold	VERB
ftr-493	425	96	the	the	DET
ftr-493	425	97	underlying	underlie	VERB
ftr-493	425	98	stock	stock	NOUN
ftr-493	425	99	portfolio	portfolio	NOUN
ftr-493	425	100	throughout	throughout	ADP
ftr-493	425	101	the	the	DET
ftr-493	425	102	term	term	NOUN
ftr-493	425	103	of	of	ADP
ftr-493	425	104	the	the	DET
ftr-493	425	105	swap	swap	NOUN
ftr-493	425	106	.	.	PUNCT
ftr-493	426	1	61	61	NUM
ftr-493	426	2	.	.	PUNCT
ftr-493	427	1	this	this	PRON
ftr-493	427	2	,	,	PUNCT
ftr-493	427	3	of	of	ADP
ftr-493	427	4	course	course	NOUN
ftr-493	427	5	,	,	PUNCT
ftr-493	427	6	simply	simply	ADV
ftr-493	427	7	reflects	reflect	VERB
ftr-493	427	8	the	the	DET
ftr-493	427	9	fact	fact	NOUN
ftr-493	427	10	that	that	SCONJ
ftr-493	427	11	b	b	NOUN
ftr-493	427	12	's	's	PART
ftr-493	427	13	payments	payment	NOUN
ftr-493	427	14	under	under	ADP
ftr-493	427	15	the	the	DET
ftr-493	427	16	swap	swap	NOUN
ftr-493	427	17	are	be	AUX
ftr-493	427	18	based	base	VERB
ftr-493	427	19	on	on	ADP
ftr-493	427	20	a	a	DET
ftr-493	427	21	notional	notional	ADJ
ftr-493	427	22	,	,	PUNCT
ftr-493	427	23	rather	rather	ADV
ftr-493	427	24	than	than	ADP
ftr-493	427	25	an	an	DET
ftr-493	427	26	actual	actual	ADJ
ftr-493	427	27	,	,	PUNCT
ftr-493	427	28	principal	principal	ADJ
ftr-493	427	29	amount	amount	NOUN
ftr-493	427	30	.	.	PUNCT
ftr-493	428	1	62	62	NUM
ftr-493	428	2	.	.	PUNCT
ftr-493	429	1	query	query	NOUN
ftr-493	429	2	,	,	PUNCT
ftr-493	429	3	however	however	ADV
ftr-493	429	4	,	,	PUNCT
ftr-493	429	5	whether	whether	SCONJ
ftr-493	429	6	the	the	DET
ftr-493	429	7	arrangement	arrangement	NOUN
ftr-493	429	8	between	between	ADP
ftr-493	429	9	a	a	PRON
ftr-493	429	10	and	and	CCONJ
ftr-493	429	11	b	b	NOUN
ftr-493	429	12	could	could	AUX
ftr-493	429	13	be	be	AUX
ftr-493	429	14	construed	construe	VERB
ftr-493	429	15	as	as	ADP
ftr-493	429	16	a	a	DET
ftr-493	429	17	constructive	constructive	ADJ
ftr-493	429	18	partnership	partnership	NOUN
ftr-493	429	19	,	,	PUNCT
ftr-493	429	20	the	the	DET
ftr-493	429	21	assets	asset	NOUN
ftr-493	429	22	of	of	ADP
ftr-493	429	23	which	which	PRON
ftr-493	429	24	are	be	AUX
ftr-493	429	25	the	the	DET
ftr-493	429	26	stocks	stock	NOUN
ftr-493	429	27	making	make	VERB
ftr-493	429	28	up	up	ADP
ftr-493	429	29	the	the	DET
ftr-493	429	30	djia	djia	NOUN
ftr-493	429	31	,	,	PUNCT
ftr-493	429	32	and	and	CCONJ
ftr-493	429	33	in	in	ADP
ftr-493	429	34	which	which	PRON
ftr-493	429	35	a	a	PRON
ftr-493	429	36	owns	own	VERB
ftr-493	429	37	a	a	DET
ftr-493	429	38	preferred	preferred	ADJ
ftr-493	429	39	equity	equity	NOUN
ftr-493	429	40	interest	interest	NOUN
ftr-493	429	41	(	(	PUNCT
ftr-493	429	42	having	have	VERB
ftr-493	429	43	a	a	DET
ftr-493	429	44	liquidation	liquidation	NOUN
ftr-493	429	45	price	price	NOUN
ftr-493	429	46	of	of	ADP
ftr-493	429	47	$	$	SYM
ftr-493	429	48	1,000x	1,000x	NUM
ftr-493	429	49	)	)	PUNCT
ftr-493	429	50	and	and	CCONJ
ftr-493	429	51	b	b	NOUN
ftr-493	429	52	holds	hold	VERB
ftr-493	429	53	the	the	DET
ftr-493	429	54	common	common	ADJ
ftr-493	429	55	interest	interest	NOUN
ftr-493	429	56	.	.	PUNCT
ftr-493	430	1	in	in	ADP
ftr-493	430	2	such	such	ADJ
ftr-493	430	3	case	case	NOUN
ftr-493	430	4	,	,	PUNCT
ftr-493	430	5	a	a	PRON
ftr-493	430	6	would	would	AUX
ftr-493	430	7	probably	probably	ADV
ftr-493	430	8	be	be	AUX
ftr-493	430	9	treated	treat	VERB
ftr-493	430	10	as	as	ADP
ftr-493	430	11	having	having	AUX
ftr-493	430	12	initially	initially	ADV
ftr-493	430	13	contributed	contribute	VERB
ftr-493	430	14	the	the	DET
ftr-493	430	15	underlying	underlie	VERB
ftr-493	430	16	stocks	stock	NOUN
ftr-493	430	17	to	to	ADP
ftr-493	430	18	the	the	DET
ftr-493	430	19	partnership	partnership	NOUN
ftr-493	430	20	in	in	ADP
ftr-493	430	21	exchange	exchange	NOUN
ftr-493	430	22	for	for	ADP
ftr-493	430	23	all	all	DET
ftr-493	430	24	the	the	DET
ftr-493	430	25	preferred	preferred	ADJ
ftr-493	430	26	and	and	CCONJ
ftr-493	430	27	common	common	ADJ
ftr-493	430	28	equity	equity	NOUN
ftr-493	430	29	interests	interest	NOUN
ftr-493	430	30	therein	therein	ADV
ftr-493	430	31	and	and	CCONJ
ftr-493	430	32	then	then	ADV
ftr-493	430	33	as	as	ADP
ftr-493	430	34	having	having	AUX
ftr-493	430	35	sold	sell	VERB
ftr-493	430	36	the	the	DET
ftr-493	430	37	common	common	ADJ
ftr-493	430	38	interest	interest	NOUN
ftr-493	430	39	to	to	ADP
ftr-493	430	40	b	b	NOUN
ftr-493	430	41	in	in	ADP
ftr-493	430	42	exchange	exchange	NOUN
ftr-493	430	43	for	for	ADP
ftr-493	430	44	the	the	DET
ftr-493	430	45	right	right	NOUN
ftr-493	430	46	to	to	PART
ftr-493	430	47	receive	receive	VERB
ftr-493	430	48	the	the	DET
ftr-493	430	49	fixed	fix	VERB
ftr-493	430	50	payments	payment	NOUN
ftr-493	430	51	from	from	ADP
ftr-493	430	52	b	b	NOUN
ftr-493	430	53	under	under	ADP
ftr-493	430	54	the	the	DET
ftr-493	430	55	swap	swap	NOUN
ftr-493	430	56	.	.	PUNCT
ftr-493	431	1	query	query	NOUN
ftr-493	431	2	also	also	ADV
ftr-493	431	3	whether	whether	SCONJ
ftr-493	431	4	,	,	PUNCT
ftr-493	431	5	if	if	SCONJ
ftr-493	431	6	the	the	DET
ftr-493	431	7	entering	enter	VERB
ftr-493	431	8	into	into	ADP
ftr-493	431	9	the	the	DET
ftr-493	431	10	equity	equity	NOUN
ftr-493	431	11	swap	swap	NOUN
ftr-493	431	12	should	should	AUX
ftr-493	431	13	be	be	AUX
ftr-493	431	14	treated	treat	VERB
ftr-493	431	15	as	as	SCONJ
ftr-493	431	16	if	if	SCONJ
ftr-493	431	17	a	a	PRON
ftr-493	431	18	sold	sell	VERB
ftr-493	431	19	the	the	DET
ftr-493	431	20	underlying	underlie	VERB
ftr-493	431	21	stocks	stock	NOUN
ftr-493	431	22	to	to	ADP
ftr-493	431	23	b	b	NOUN
ftr-493	431	24	,	,	PUNCT
ftr-493	431	25	should	should	AUX
ftr-493	431	26	the	the	DET
ftr-493	431	27	swap	swap	NOUN
ftr-493	431	28	's	's	PART
ftr-493	431	29	termination	termination	NOUN
ftr-493	431	30	be	be	AUX
ftr-493	431	31	treated	treat	VERB
ftr-493	431	32	as	as	ADP
ftr-493	431	33	a	a	DET
ftr-493	431	34	sale	sale	NOUN
ftr-493	431	35	of	of	ADP
ftr-493	431	36	the	the	DET
ftr-493	431	37	stocks	stock	NOUN
ftr-493	431	38	by	by	ADP
ftr-493	431	39	b	b	NOUN
ftr-493	431	40	back	back	ADV
ftr-493	431	41	to	to	ADP
ftr-493	431	42	a	a	PRON
ftr-493	431	43	?	?	PUNCT
ftr-493	432	1	obviously	obviously	ADV
ftr-493	432	2	,	,	PUNCT
ftr-493	432	3	both	both	PRON
ftr-493	432	4	of	of	ADP
ftr-493	432	5	these	these	DET
ftr-493	432	6	analyses	analysis	NOUN
ftr-493	432	7	seem	seem	VERB
ftr-493	432	8	strained	strain	VERB
ftr-493	432	9	.	.	PUNCT
ftr-493	433	1	63	63	NUM
ftr-493	433	2	.	.	PUNCT
ftr-493	434	1	of	of	ADP
ftr-493	434	2	course	course	NOUN
ftr-493	434	3	,	,	PUNCT
ftr-493	434	4	by	by	ADP
ftr-493	434	5	entering	enter	VERB
ftr-493	434	6	into	into	ADP
ftr-493	434	7	the	the	DET
ftr-493	434	8	swap	swap	NOUN
ftr-493	434	9	,	,	PUNCT
ftr-493	434	10	a	a	PRON
ftr-493	434	11	may	may	AUX
ftr-493	434	12	suffer	suffer	VERB
ftr-493	434	13	adverse	adverse	ADJ
ftr-493	434	14	tax	tax	NOUN
ftr-493	434	15	consequences	consequence	NOUN
ftr-493	434	16	if	if	SCONJ
ftr-493	434	17	the	the	DET
ftr-493	434	18	stocks	stock	NOUN
ftr-493	434	19	making	make	VERB
ftr-493	434	20	up	up	ADP
ftr-493	434	21	the	the	DET
ftr-493	434	22	djia	djia	PROPN
ftr-493	434	23	decrease	decrease	NOUN
ftr-493	434	24	in	in	ADP
ftr-493	434	25	value	value	NOUN
ftr-493	434	26	.	.	PUNCT
ftr-493	435	1	in	in	ADP
ftr-493	435	2	such	such	ADJ
ftr-493	435	3	case	case	NOUN
ftr-493	435	4	,	,	PUNCT
ftr-493	435	5	a	a	PRON
ftr-493	435	6	will	will	AUX
ftr-493	435	7	receive	receive	VERB
ftr-493	435	8	payments	payment	NOUN
ftr-493	435	9	from	from	ADP
ftr-493	435	10	b	b	NOUN
ftr-493	435	11	under	under	ADP
ftr-493	435	12	the	the	DET
ftr-493	435	13	swap	swap	NOUN
ftr-493	435	14	in	in	ADP
ftr-493	435	15	an	an	DET
ftr-493	435	16	amount	amount	NOUN
ftr-493	435	17	equal	equal	ADJ
ftr-493	435	18	to	to	ADP
ftr-493	435	19	such	such	ADJ
ftr-493	435	20	decrease	decrease	NOUN
ftr-493	435	21	,	,	PUNCT
ftr-493	435	22	which	which	PRON
ftr-493	435	23	will	will	AUX
ftr-493	435	24	generally	generally	ADV
ftr-493	435	25	be	be	AUX
ftr-493	435	26	currently	currently	ADV
ftr-493	435	27	taxable	taxable	ADJ
ftr-493	435	28	to	to	ADP
ftr-493	435	29	a	a	DET
ftr-493	435	30	as	as	ADP
ftr-493	435	31	ordinary	ordinary	ADJ
ftr-493	435	32	income	income	NOUN
ftr-493	435	33	.	.	PUNCT
ftr-493	436	1	while	while	SCONJ
ftr-493	436	2	as	as	ADP
ftr-493	436	3	an	an	DET
ftr-493	436	4	economic	economic	ADJ
ftr-493	436	5	matter	matter	NOUN
ftr-493	436	6	such	such	ADJ
ftr-493	436	7	payments	payment	NOUN
ftr-493	436	8	will	will	AUX
ftr-493	436	9	be	be	AUX
ftr-493	436	10	offset	offset	VERB
ftr-493	436	11	by	by	ADP
ftr-493	436	12	the	the	DET
ftr-493	436	13	unrealized	unrealized	ADJ
ftr-493	436	14	loss	loss	NOUN
ftr-493	436	15	on	on	ADP
ftr-493	436	16	the	the	DET
ftr-493	436	17	stock	stock	NOUN
ftr-493	436	18	portfolio	portfolio	NOUN
ftr-493	436	19	,	,	PUNCT
ftr-493	436	20	the	the	DET
ftr-493	436	21	latter	latter	ADJ
ftr-493	436	22	will	will	AUX
ftr-493	436	23	not	not	PART
ftr-493	436	24	give	give	VERB
ftr-493	436	25	rise	rise	NOUN
ftr-493	436	26	to	to	ADP
ftr-493	436	27	a	a	DET
ftr-493	436	28	tax	tax	NOUN
ftr-493	436	29	benefit	benefit	NOUN
ftr-493	436	30	until	until	SCONJ
ftr-493	436	31	a	a	DET
ftr-493	436	32	disposes	dispose	NOUN
ftr-493	436	33	of	of	ADP
ftr-493	436	34	the	the	DET
ftr-493	436	35	depreciated	depreciate	VERB
ftr-493	436	36	shares	share	NOUN
ftr-493	436	37	in	in	ADP
ftr-493	436	38	a	a	DET
ftr-493	436	39	taxable	taxable	ADJ
ftr-493	436	40	transaction	transaction	NOUN
ftr-493	436	41	not	not	PART
ftr-493	436	42	subject	subject	ADJ
ftr-493	436	43	to	to	ADP
ftr-493	436	44	the	the	DET
ftr-493	436	45	wash	wash	NOUN
ftr-493	436	46	sale	sale	NOUN
ftr-493	436	47	rules	rule	NOUN
ftr-493	436	48	of	of	ADP
ftr-493	436	49	section	section	NOUN
ftr-493	436	50	1091	1091	NUM
ftr-493	436	51	,	,	PUNCT
ftr-493	436	52	at	at	ADP
ftr-493	436	53	which	which	DET
ftr-493	436	54	time	time	NOUN
ftr-493	436	55	the	the	DET
ftr-493	436	56	resulting	result	VERB
ftr-493	436	57	loss	loss	NOUN
ftr-493	436	58	will	will	AUX
ftr-493	436	59	generally	generally	ADV
ftr-493	436	60	be	be	AUX
ftr-493	436	61	recognized	recognize	VERB
ftr-493	436	62	as	as	ADP
ftr-493	436	63	capital	capital	NOUN
ftr-493	436	64	loss	loss	NOUN
ftr-493	436	65	which	which	PRON
ftr-493	436	66	may	may	AUX
ftr-493	436	67	be	be	AUX
ftr-493	436	68	unusable	unusable	ADJ
ftr-493	436	69	by	by	ADP
ftr-493	436	70	a.	a.	NOUN
ftr-493	436	71	thus	thus	ADV
ftr-493	436	72	,	,	PUNCT
ftr-493	436	73	if	if	SCONJ
ftr-493	436	74	,	,	PUNCT
ftr-493	436	75	at	at	ADP
ftr-493	436	76	the	the	DET
ftr-493	436	77	outset	outset	NOUN
ftr-493	436	78	,	,	PUNCT
ftr-493	436	79	it	it	PRON
ftr-493	436	80	was	be	AUX
ftr-493	436	81	anticipated	anticipate	VERB
ftr-493	436	82	that	that	SCONJ
ftr-493	436	83	the	the	DET
ftr-493	436	84	underlying	underlie	VERB
ftr-493	436	85	shares	share	NOUN
ftr-493	436	86	were	be	AUX
ftr-493	436	87	as	as	ADV
ftr-493	436	88	likely	likely	ADJ
ftr-493	436	89	to	to	PART
ftr-493	436	90	decrease	decrease	VERB
ftr-493	436	91	in	in	ADP
ftr-493	436	92	value	value	NOUN
ftr-493	436	93	as	as	SCONJ
ftr-493	436	94	to	to	PART
ftr-493	436	95	increase	increase	VERB
ftr-493	436	96	in	in	ADP
ftr-493	436	97	value	value	NOUN
ftr-493	436	98	,	,	PUNCT
ftr-493	436	99	a	a	PRON
ftr-493	436	100	might	might	AUX
ftr-493	436	101	be	be	AUX
ftr-493	436	102	expected	expect	VERB
ftr-493	436	103	to	to	PART
ftr-493	436	104	suffer	suffer	VERB
ftr-493	436	105	from	from	ADP
ftr-493	436	106	a	a	DET
ftr-493	436	107	net	net	ADJ
ftr-493	436	108	tax	tax	NOUN
ftr-493	436	109	detriment	detriment	NOUN
ftr-493	436	110	,	,	PUNCT
ftr-493	436	111	or	or	CCONJ
ftr-493	436	112	,	,	PUNCT
ftr-493	436	113	at	at	ADP
ftr-493	436	114	the	the	DET
ftr-493	436	115	very	very	ADV
ftr-493	436	116	least	least	ADJ
ftr-493	436	117	,	,	PUNCT
ftr-493	436	118	not	not	PART
ftr-493	436	119	receive	receive	VERB
ftr-493	436	120	a	a	DET
ftr-493	436	121	net	net	ADJ
ftr-493	436	122	tax	tax	NOUN
ftr-493	436	123	benefit	benefit	NOUN
ftr-493	436	124	,	,	PUNCT
ftr-493	436	125	as	as	ADP
ftr-493	436	126	a	a	DET
ftr-493	436	127	result	result	NOUN
ftr-493	436	128	of	of	ADP
ftr-493	436	129	receiving	receive	VERB
ftr-493	436	130	and	and	CCONJ
ftr-493	436	131	making	make	VERB
ftr-493	436	132	payments	payment	NOUN
ftr-493	436	133	under	under	ADP
ftr-493	436	134	the	the	DET
ftr-493	436	135	swap	swap	NOUN
ftr-493	436	136	.	.	PUNCT
ftr-493	437	1	any	any	DET
ftr-493	437	2	such	such	ADJ
ftr-493	437	3	net	net	ADJ
ftr-493	437	4	detriment	detriment	NOUN
ftr-493	437	5	,	,	PUNCT
ftr-493	437	6	of	of	ADP
ftr-493	437	7	course	course	NOUN
ftr-493	437	8	,	,	PUNCT
ftr-493	437	9	would	would	AUX
ftr-493	437	10	have	have	VERB
ftr-493	437	11	to	to	PART
ftr-493	437	12	be	be	AUX
ftr-493	437	13	compared	compare	VERB
ftr-493	437	14	to	to	ADP
ftr-493	437	15	the	the	DET
ftr-493	437	16	other	other	ADJ
ftr-493	437	17	non	non	ADJ
ftr-493	437	18	-	-	ADJ
ftr-493	437	19	tax	tax	ADJ
ftr-493	437	20	and	and	CCONJ
ftr-493	437	21	tax	tax	NOUN
ftr-493	437	22	benefits	benefit	NOUN
ftr-493	437	23	from	from	ADP
ftr-493	437	24	entering	enter	VERB
ftr-493	437	25	into	into	ADP
ftr-493	437	26	the	the	DET
ftr-493	437	27	transaction	transaction	NOUN
ftr-493	437	28	to	to	PART
ftr-493	437	29	see	see	VERB
ftr-493	437	30	whether	whether	SCONJ
ftr-493	437	31	,	,	PUNCT
ftr-493	437	32	overall	overall	ADV
ftr-493	437	33	,	,	PUNCT
ftr-493	437	34	entering	enter	VERB
ftr-493	437	35	into	into	ADP
ftr-493	437	36	the	the	DET
ftr-493	437	37	swap	swap	NOUN
ftr-493	437	38	was	be	AUX
ftr-493	437	39	more	more	ADV
ftr-493	437	40	beneficial	beneficial	ADJ
ftr-493	437	41	to	to	ADP
ftr-493	437	42	a	a	PRON
ftr-493	437	43	than	than	ADP
ftr-493	437	44	alternative	alternative	ADJ
ftr-493	437	45	transactions	transaction	NOUN
ftr-493	437	46	.	.	PUNCT
ftr-493	438	1	this	this	DET
ftr-493	438	2	analysis	analysis	NOUN
ftr-493	438	3	might	might	AUX
ftr-493	438	4	suggest	suggest	VERB
ftr-493	438	5	that	that	SCONJ
ftr-493	438	6	,	,	PUNCT
ftr-493	438	7	at	at	ADP
ftr-493	438	8	least	least	ADJ
ftr-493	438	9	under	under	ADP
ftr-493	438	10	current	current	ADJ
ftr-493	438	11	law	law	NOUN
ftr-493	438	12	,	,	PUNCT
ftr-493	438	13	securities	security	NOUN
ftr-493	438	14	dealers	dealer	NOUN
ftr-493	438	15	are	be	AUX
ftr-493	438	16	the	the	DET
ftr-493	438	17	most	most	ADV
ftr-493	438	18	likely	likely	ADJ
ftr-493	438	19	candidates	candidate	NOUN
ftr-493	438	20	to	to	PART
ftr-493	438	21	be	be	AUX
ftr-493	438	22	a.	a.	NOUN
ftr-493	438	23	first	first	ADV
ftr-493	438	24	,	,	PUNCT
ftr-493	438	25	dealers	dealer	NOUN
ftr-493	438	26	that	that	PRON
ftr-493	438	27	use	use	VERB
ftr-493	438	28	the	the	DET
ftr-493	438	29	lower	low	ADJ
ftr-493	438	30	-	-	PUNCT
ftr-493	438	31	of	of	ADP
ftr-493	438	32	-	-	PUNCT
ftr-493	438	33	cost	cost	NOUN
ftr-493	438	34	-	-	PUNCT
ftr-493	438	35	or	or	CCONJ
ftr-493	438	36	-	-	PUNCT
ftr-493	438	37	market	market	NOUN
ftr-493	438	38	-	-	PUNCT
ftr-493	438	39	value	value	NOUN
ftr-493	438	40	method	method	NOUN
ftr-493	438	41	of	of	ADP
ftr-493	438	42	accounting	account	VERB
ftr-493	438	43	for	for	ADP
ftr-493	438	44	their	their	PRON
ftr-493	438	45	inventories	inventory	NOUN
ftr-493	438	46	are	be	AUX
ftr-493	438	47	essentially	essentially	ADV
ftr-493	438	48	able	able	ADJ
ftr-493	438	49	to	to	PART
ftr-493	438	50	deduct	deduct	VERB
ftr-493	438	51	losses	loss	NOUN
ftr-493	438	52	with	with	ADP
ftr-493	438	53	respect	respect	NOUN
ftr-493	438	54	to	to	ADP
ftr-493	438	55	those	those	DET
ftr-493	438	56	[	[	X
ftr-493	438	57	vol	vol	X
ftr-493	438	58	1:5	1:5	NUM
ftr-493	438	59	selected	select	VERB
ftr-493	438	60	issues	issue	NOUN
ftr-493	438	61	in	in	ADP
ftr-493	438	62	the	the	DET
ftr-493	438	63	taation	taation	NOUN
ftr-493	438	64	of	of	ADP
ftr-493	438	65	swaps	swap	NOUN
ftr-493	438	66	advantaged	advantaged	ADJ
ftr-493	438	67	asset	asset	NOUN
ftr-493	438	68	and	and	CCONJ
ftr-493	438	69	,	,	PUNCT
ftr-493	438	70	once	once	ADV
ftr-493	438	71	again	again	ADV
ftr-493	438	72	,	,	PUNCT
ftr-493	438	73	the	the	DET
ftr-493	438	74	question	question	NOUN
ftr-493	438	75	is	be	AUX
ftr-493	438	76	whether	whether	SCONJ
ftr-493	438	77	the	the	DET
ftr-493	438	78	service	service	NOUN
ftr-493	438	79	can	can	AUX
ftr-493	438	80	avoid	avoid	VERB
ftr-493	438	81	this	this	DET
ftr-493	438	82	result	result	NOUN
ftr-493	438	83	by	by	ADP
ftr-493	438	84	applying	apply	VERB
ftr-493	438	85	section	section	NOUN
ftr-493	438	86	1092	1092	NUM
ftr-493	438	87	or	or	CCONJ
ftr-493	438	88	proposed	propose	VERB
ftr-493	438	89	regulations	regulation	NOUN
ftr-493	438	90	section	section	VERB
ftr-493	438	91	1.446	1.446	NUM
ftr-493	438	92	-	-	SYM
ftr-493	438	93	3(e	3(e	NUM
ftr-493	438	94	)	)	PUNCT
ftr-493	438	95	.	.	PUNCT
ftr-493	439	1	and	and	CCONJ
ftr-493	439	2	here	here	ADV
ftr-493	439	3	,	,	PUNCT
ftr-493	439	4	even	even	ADV
ftr-493	439	5	more	more	ADV
ftr-493	439	6	so	so	ADV
ftr-493	439	7	than	than	SCONJ
ftr-493	439	8	is	be	AUX
ftr-493	439	9	the	the	DET
ftr-493	439	10	case	case	NOUN
ftr-493	439	11	with	with	ADP
ftr-493	439	12	the	the	DET
ftr-493	439	13	bond	bond	NOUN
ftr-493	439	14	/	/	SYM
ftr-493	439	15	interest	interest	NOUN
ftr-493	439	16	rate	rate	NOUN
ftr-493	439	17	swap	swap	NOUN
ftr-493	439	18	transactions	transaction	NOUN
ftr-493	439	19	discussed	discuss	VERB
ftr-493	439	20	above	above	ADV
ftr-493	439	21	,	,	PUNCT
ftr-493	439	22	the	the	DET
ftr-493	439	23	answer	answer	NOUN
ftr-493	439	24	seems	seem	VERB
ftr-493	439	25	to	to	PART
ftr-493	439	26	be	be	AUX
ftr-493	439	27	no	no	PRON
ftr-493	439	28	.	.	PUNCT
ftr-493	440	1	in	in	ADP
ftr-493	440	2	particular	particular	ADJ
ftr-493	440	3	,	,	PUNCT
ftr-493	440	4	section	section	NOUN
ftr-493	440	5	1092(d)(3)(a	1092(d)(3)(a	NUM
ftr-493	440	6	)	)	PUNCT
ftr-493	440	7	states	state	VERB
ftr-493	440	8	that	that	SCONJ
ftr-493	440	9	,	,	PUNCT
ftr-493	440	10	except	except	SCONJ
ftr-493	440	11	as	as	ADV
ftr-493	440	12	otherwise	otherwise	ADV
ftr-493	440	13	provided	provide	VERB
ftr-493	440	14	in	in	ADP
ftr-493	440	15	section	section	NOUN
ftr-493	440	16	1092(d)(3)(b	1092(d)(3)(b	NUM
ftr-493	440	17	)	)	PUNCT
ftr-493	440	18	,	,	PUNCT
ftr-493	440	19	the	the	DET
ftr-493	440	20	term	term	NOUN
ftr-493	440	21	personal	personal	ADJ
ftr-493	440	22	property	property	NOUN
ftr-493	440	23	for	for	ADP
ftr-493	440	24	purposes	purpose	NOUN
ftr-493	440	25	of	of	ADP
ftr-493	440	26	section	section	NOUN
ftr-493	440	27	1092	1092	NUM
ftr-493	440	28	does	do	AUX
ftr-493	440	29	not	not	PART
ftr-493	440	30	include	include	VERB
ftr-493	440	31	stock	stock	NOUN
ftr-493	440	32	.	.	PUNCT
ftr-493	441	1	section	section	NOUN
ftr-493	441	2	1092(d)(3)(b	1092(d)(3)(b	NUM
ftr-493	441	3	)	)	PUNCT
ftr-493	441	4	contains	contain	VERB
ftr-493	441	5	exceptions	exception	NOUN
ftr-493	441	6	for	for	ADP
ftr-493	441	7	(	(	PUNCT
ftr-493	441	8	i	i	NOUN
ftr-493	441	9	)	)	PUNCT
ftr-493	441	10	stock	stock	NOUN
ftr-493	441	11	held	hold	VERB
ftr-493	441	12	as	as	ADP
ftr-493	441	13	part	part	NOUN
ftr-493	441	14	of	of	ADP
ftr-493	441	15	a	a	DET
ftr-493	441	16	straddle	straddle	NOUN
ftr-493	441	17	in	in	ADP
ftr-493	441	18	which	which	PRON
ftr-493	441	19	at	at	ADP
ftr-493	441	20	least	least	ADJ
ftr-493	441	21	one	one	NUM
ftr-493	441	22	of	of	ADP
ftr-493	441	23	the	the	DET
ftr-493	441	24	offsetting	offset	VERB
ftr-493	441	25	positions	position	NOUN
ftr-493	441	26	is	be	AUX
ftr-493	441	27	an	an	DET
ftr-493	441	28	option	option	NOUN
ftr-493	441	29	or	or	CCONJ
ftr-493	441	30	,	,	PUNCT
ftr-493	441	31	"	"	PUNCT
ftr-493	441	32	under	under	ADP
ftr-493	441	33	regulations	regulation	NOUN
ftr-493	441	34	,	,	PUNCT
ftr-493	441	35	a	a	DET
ftr-493	441	36	position	position	NOUN
ftr-493	441	37	with	with	ADP
ftr-493	441	38	respect	respect	NOUN
ftr-493	441	39	to	to	ADP
ftr-493	441	40	substantially	substantially	ADV
ftr-493	441	41	similar	similar	ADJ
ftr-493	441	42	or	or	CCONJ
ftr-493	441	43	related	related	ADJ
ftr-493	441	44	property	property	NOUN
ftr-493	441	45	(	(	PUNCT
ftr-493	441	46	other	other	ADJ
ftr-493	441	47	than	than	ADP
ftr-493	441	48	stock),"6	stock),"6	NOUN
ftr-493	441	49	'	'	PUNCT
ftr-493	441	50	or	or	CCONJ
ftr-493	441	51	(	(	PUNCT
ftr-493	441	52	ii	ii	NOUN
ftr-493	441	53	)	)	PUNCT
ftr-493	441	54	"	"	PUNCT
ftr-493	441	55	any	any	DET
ftr-493	441	56	stock	stock	NOUN
ftr-493	441	57	of	of	ADP
ftr-493	441	58	a	a	DET
ftr-493	441	59	corporation	corporation	NOUN
ftr-493	441	60	formed	form	VERB
ftr-493	441	61	or	or	CCONJ
ftr-493	441	62	availed	avail	VERB
ftr-493	441	63	of	of	ADP
ftr-493	441	64	to	to	PART
ftr-493	441	65	take	take	VERB
ftr-493	441	66	positions	position	NOUN
ftr-493	441	67	in	in	ADP
ftr-493	441	68	personal	personal	ADJ
ftr-493	441	69	property	property	NOUN
ftr-493	441	70	which	which	PRON
ftr-493	441	71	offset	offset	VERB
ftr-493	441	72	positions	position	NOUN
ftr-493	441	73	taken	take	VERB
ftr-493	441	74	by	by	ADP
ftr-493	441	75	any	any	DET
ftr-493	441	76	shareholder	shareholder	NOUN
ftr-493	441	77	.	.	PUNCT
ftr-493	441	78	"	"	PUNCT
ftr-493	442	1	it	it	PRON
ftr-493	442	2	would	would	AUX
ftr-493	442	3	appear	appear	VERB
ftr-493	442	4	that	that	SCONJ
ftr-493	442	5	the	the	DET
ftr-493	442	6	equity	equity	NOUN
ftr-493	442	7	swap	swap	NOUN
ftr-493	442	8	in	in	ADP
ftr-493	442	9	our	our	PRON
ftr-493	442	10	example	example	NOUN
ftr-493	442	11	is	be	AUX
ftr-493	442	12	not	not	PART
ftr-493	442	13	part	part	NOUN
ftr-493	442	14	of	of	ADP
ftr-493	442	15	a	a	DET
ftr-493	442	16	straddle	straddle	NOUN
ftr-493	442	17	since	since	SCONJ
ftr-493	442	18	,	,	PUNCT
ftr-493	442	19	while	while	SCONJ
ftr-493	442	20	it	it	PRON
ftr-493	442	21	is	be	AUX
ftr-493	442	22	a	a	DET
ftr-493	442	23	position	position	NOUN
ftr-493	442	24	with	with	ADP
ftr-493	442	25	respect	respect	NOUN
ftr-493	442	26	to	to	ADP
ftr-493	442	27	personal	personal	ADJ
ftr-493	442	28	property	property	NOUN
ftr-493	442	29	for	for	ADP
ftr-493	442	30	section	section	NOUN
ftr-493	442	31	1092	1092	NUM
ftr-493	442	32	purposes	purpose	NOUN
ftr-493	442	33	,	,	PUNCT
ftr-493	442	34	it	it	PRON
ftr-493	442	35	neither	neither	PRON
ftr-493	442	36	offsets	offset	NOUN
ftr-493	442	37	,	,	PUNCT
ftr-493	442	38	nor	nor	CCONJ
ftr-493	442	39	is	be	AUX
ftr-493	442	40	offset	offset	VERB
ftr-493	442	41	by	by	ADP
ftr-493	442	42	,	,	PUNCT
ftr-493	442	43	another	another	DET
ftr-493	442	44	position	position	NOUN
ftr-493	442	45	in	in	ADP
ftr-493	442	46	personal	personal	ADJ
ftr-493	442	47	property	property	NOUN
ftr-493	442	48	.	.	PUNCT
ftr-493	443	1	accordingly	accordingly	ADV
ftr-493	443	2	,	,	PUNCT
ftr-493	443	3	under	under	ADP
ftr-493	443	4	current	current	ADJ
ftr-493	443	5	law	law	NOUN
ftr-493	443	6	,	,	PUNCT
ftr-493	443	7	a	a	PRON
ftr-493	443	8	should	should	AUX
ftr-493	443	9	be	be	AUX
ftr-493	443	10	able	able	ADJ
ftr-493	443	11	to	to	PART
ftr-493	443	12	deduct	deduct	VERB
ftr-493	443	13	currently	currently	ADV
ftr-493	443	14	its	its	PRON
ftr-493	443	15	payments	payment	NOUN
ftr-493	443	16	under	under	ADP
ftr-493	443	17	the	the	DET
ftr-493	443	18	equity	equity	NOUN
ftr-493	443	19	swap	swap	NOUN
ftr-493	443	20	.	.	PUNCT
ftr-493	444	1	4	4	X
ftr-493	444	2	.	.	X
ftr-493	444	3	dividend	dividend	NOUN
ftr-493	444	4	capture	capture	NOUN
ftr-493	444	5	and	and	CCONJ
ftr-493	444	6	equi	equi	NOUN
ftr-493	444	7	.	.	PUNCT
ftr-493	445	1	,	,	PUNCT
ftr-493	445	2	swaps.-what	swaps.-what	X
ftr-493	445	3	are	be	AUX
ftr-493	445	4	the	the	DET
ftr-493	445	5	tax	tax	NOUN
ftr-493	445	6	consequences	consequence	NOUN
ftr-493	445	7	to	to	ADP
ftr-493	445	8	a	a	PRON
ftr-493	445	9	of	of	ADP
ftr-493	445	10	its	its	PRON
ftr-493	445	11	obligation	obligation	NOUN
ftr-493	445	12	to	to	PART
ftr-493	445	13	make	make	VERB
ftr-493	445	14	payments	payment	NOUN
ftr-493	445	15	to	to	ADP
ftr-493	445	16	b	b	NOUN
ftr-493	445	17	under	under	ADP
ftr-493	445	18	the	the	DET
ftr-493	445	19	equity	equity	NOUN
ftr-493	445	20	swap	swap	NOUN
ftr-493	445	21	with	with	ADP
ftr-493	445	22	respect	respect	NOUN
ftr-493	445	23	to	to	ADP
ftr-493	445	24	dividends	dividend	NOUN
ftr-493	445	25	declared	declare	VERB
ftr-493	445	26	and	and	CCONJ
ftr-493	445	27	paid	pay	VERB
ftr-493	445	28	on	on	ADP
ftr-493	445	29	the	the	DET
ftr-493	445	30	underlying	underlie	VERB
ftr-493	445	31	stocks	stock	NOUN
ftr-493	445	32	?	?	PUNCT
ftr-493	446	1	in	in	ADP
ftr-493	446	2	particular	particular	ADJ
ftr-493	446	3	,	,	PUNCT
ftr-493	446	4	if	if	SCONJ
ftr-493	446	5	a	a	PRON
ftr-493	446	6	is	be	AUX
ftr-493	446	7	a	a	DET
ftr-493	446	8	corporation	corporation	NOUN
ftr-493	446	9	,	,	PUNCT
ftr-493	446	10	will	will	AUX
ftr-493	446	11	a	a	PRON
ftr-493	446	12	be	be	AUX
ftr-493	446	13	allowed	allow	VERB
ftr-493	446	14	to	to	PART
ftr-493	446	15	claim	claim	VERB
ftr-493	446	16	the	the	DET
ftr-493	446	17	drd	drd	NOUN
ftr-493	446	18	with	with	ADP
ftr-493	446	19	respect	respect	NOUN
ftr-493	446	20	to	to	ADP
ftr-493	446	21	dividends	dividend	NOUN
ftr-493	446	22	received	receive	VERB
ftr-493	446	23	on	on	ADP
ftr-493	446	24	its	its	PRON
ftr-493	446	25	long	long	ADJ
ftr-493	446	26	position	position	NOUN
ftr-493	446	27	in	in	ADP
ftr-493	446	28	the	the	DET
ftr-493	446	29	underlying	underlie	VERB
ftr-493	446	30	stocks	stock	NOUN
ftr-493	446	31	,	,	PUNCT
ftr-493	446	32	while	while	SCONJ
ftr-493	446	33	at	at	ADP
ftr-493	446	34	the	the	DET
ftr-493	446	35	same	same	ADJ
ftr-493	446	36	time	time	NOUN
ftr-493	446	37	deducting	deduct	VERB
ftr-493	446	38	the	the	DET
ftr-493	446	39	offsetting	offset	VERB
ftr-493	446	40	payments	payment	NOUN
ftr-493	446	41	to	to	PART
ftr-493	446	42	be	be	AUX
ftr-493	446	43	made	make	VERB
ftr-493	446	44	to	to	ADP
ftr-493	446	45	b	b	NOUN
ftr-493	446	46	under	under	ADP
ftr-493	446	47	the	the	DET
ftr-493	446	48	equity	equity	NOUN
ftr-493	446	49	swap	swap	NOUN
ftr-493	446	50	?	?	PUNCT
ftr-493	447	1	if	if	SCONJ
ftr-493	447	2	it	it	PRON
ftr-493	447	3	can	can	AUX
ftr-493	447	4	,	,	PUNCT
ftr-493	447	5	a	a	DET
ftr-493	447	6	net	net	ADJ
ftr-493	447	7	deduction	deduction	NOUN
ftr-493	447	8	to	to	ADP
ftr-493	447	9	a	a	DET
ftr-493	447	10	will	will	NOUN
ftr-493	447	11	result,6	result,6	VERB
ftr-493	447	12	which	which	DET
ftr-493	447	13	stocks	stock	NOUN
ftr-493	447	14	without	without	ADP
ftr-493	447	15	actually	actually	ADV
ftr-493	447	16	disposing	dispose	VERB
ftr-493	447	17	of	of	ADP
ftr-493	447	18	them	they	PRON
ftr-493	447	19	,	,	PUNCT
ftr-493	447	20	but	but	CCONJ
ftr-493	447	21	are	be	AUX
ftr-493	447	22	not	not	PART
ftr-493	447	23	required	require	VERB
ftr-493	447	24	to	to	PART
ftr-493	447	25	recognize	recognize	VERB
ftr-493	447	26	gains	gain	NOUN
ftr-493	447	27	with	with	ADP
ftr-493	447	28	respect	respect	NOUN
ftr-493	447	29	to	to	ADP
ftr-493	447	30	those	those	DET
ftr-493	447	31	inventories	inventory	NOUN
ftr-493	447	32	until	until	SCONJ
ftr-493	447	33	they	they	PRON
ftr-493	447	34	actual	actual	ADV
ftr-493	447	35	sell	sell	VERB
ftr-493	447	36	the	the	DET
ftr-493	447	37	underlying	underlie	VERB
ftr-493	447	38	stocks	stock	NOUN
ftr-493	447	39	.	.	PUNCT
ftr-493	448	1	but	but	CCONJ
ftr-493	448	2	see	see	VERB
ftr-493	448	3	h.r	h.r	PROPN
ftr-493	448	4	.	.	PROPN
ftr-493	448	5	11	11	NUM
ftr-493	448	6	,	,	PUNCT
ftr-493	448	7	102d	102d	NUM
ftr-493	448	8	cong	cong	NOUN
ftr-493	448	9	.	.	PROPN
ftr-493	448	10	,	,	PUNCT
ftr-493	448	11	2d	2d	NUM
ftr-493	448	12	sess	sess	NOUN
ftr-493	448	13	.	.	PUNCT
ftr-493	449	1	§	§	PROPN
ftr-493	449	2	3001	3001	NUM
ftr-493	449	3	(	(	PUNCT
ftr-493	449	4	1992	1992	NUM
ftr-493	449	5	)	)	PUNCT
ftr-493	449	6	(	(	PUNCT
ftr-493	449	7	requiring	require	VERB
ftr-493	449	8	mark	mark	NOUN
ftr-493	449	9	-	-	PUNCT
ftr-493	449	10	to	to	ADP
ftr-493	449	11	-	-	PUNCT
ftr-493	449	12	market	market	NOUN
ftr-493	449	13	accounting	accounting	NOUN
ftr-493	449	14	for	for	ADP
ftr-493	449	15	securities	security	NOUN
ftr-493	449	16	dealers	dealer	NOUN
ftr-493	449	17	'	'	PART
ftr-493	449	18	inventories	inventory	NOUN
ftr-493	449	19	)	)	PUNCT
ftr-493	449	20	,	,	PUNCT
ftr-493	449	21	vetoed	veto	VERB
ftr-493	449	22	last	last	ADJ
ftr-493	449	23	year	year	NOUN
ftr-493	449	24	by	by	ADP
ftr-493	449	25	president	president	PROPN
ftr-493	449	26	bush	bush	PROPN
ftr-493	449	27	,	,	PUNCT
ftr-493	449	28	and	and	CCONJ
ftr-493	449	29	prop	prop	NOUN
ftr-493	449	30	.	.	PUNCT
ftr-493	449	31	regs	regs	PROPN
ftr-493	449	32	.	.	PUNCT
ftr-493	450	1	§	§	PROPN
ftr-493	450	2	1.446	1.446	NUM
ftr-493	450	3	-	-	SYM
ftr-493	450	4	4	4	NUM
ftr-493	450	5	,	,	PUNCT
ftr-493	450	6	56	56	NUM
ftr-493	450	7	fed	feed	VERB
ftr-493	450	8	.	.	PUNCT
ftr-493	451	1	reg	reg	PROPN
ftr-493	451	2	.	.	PUNCT
ftr-493	452	1	31,350	31,350	NUM
ftr-493	452	2	(	(	PUNCT
ftr-493	452	3	1991	1991	NUM
ftr-493	452	4	)	)	PUNCT
ftr-493	452	5	(	(	PUNCT
ftr-493	452	6	providing	provide	VERB
ftr-493	452	7	an	an	DET
ftr-493	452	8	optional	optional	ADJ
ftr-493	452	9	mark	mark	NOUN
ftr-493	452	10	-	-	PUNCT
ftr-493	452	11	to	to	ADP
ftr-493	452	12	-	-	PUNCT
ftr-493	452	13	market	market	NOUN
ftr-493	452	14	election	election	NOUN
ftr-493	452	15	for	for	ADP
ftr-493	452	16	dealers	dealer	NOUN
ftr-493	452	17	and	and	CCONJ
ftr-493	452	18	traders	trader	NOUN
ftr-493	452	19	in	in	ADP
ftr-493	452	20	derivative	derivative	ADJ
ftr-493	452	21	financial	financial	ADJ
ftr-493	452	22	instruments	instrument	NOUN
ftr-493	452	23	,	,	PUNCT
ftr-493	452	24	conditioned	condition	VERB
ftr-493	452	25	on	on	ADP
ftr-493	452	26	neither	neither	CCONJ
ftr-493	452	27	the	the	DET
ftr-493	452	28	taxpayer	taxpayer	NOUN
ftr-493	452	29	nor	nor	CCONJ
ftr-493	452	30	any	any	DET
ftr-493	452	31	related	related	ADJ
ftr-493	452	32	party	party	NOUN
ftr-493	452	33	using	use	VERB
ftr-493	452	34	the	the	DET
ftr-493	452	35	lower	low	ADJ
ftr-493	452	36	-	-	PUNCT
ftr-493	452	37	of	of	ADP
ftr-493	452	38	-	-	PUNCT
ftr-493	452	39	cost	cost	NOUN
ftr-493	452	40	-	-	PUNCT
ftr-493	452	41	or	or	CCONJ
ftr-493	452	42	-	-	PUNCT
ftr-493	452	43	market	market	NOUN
ftr-493	452	44	-	-	PUNCT
ftr-493	452	45	value	value	NOUN
ftr-493	452	46	method	method	NOUN
ftr-493	452	47	with	with	ADP
ftr-493	452	48	respect	respect	NOUN
ftr-493	452	49	to	to	ADP
ftr-493	452	50	dealer	dealer	NOUN
ftr-493	452	51	or	or	CCONJ
ftr-493	452	52	trading	trading	NOUN
ftr-493	452	53	accounts	account	NOUN
ftr-493	452	54	in	in	ADP
ftr-493	452	55	securities	security	NOUN
ftr-493	452	56	or	or	CCONJ
ftr-493	452	57	commodities	commodity	NOUN
ftr-493	452	58	)	)	PUNCT
ftr-493	452	59	.	.	PUNCT
ftr-493	453	1	the	the	DET
ftr-493	453	2	clinton	clinton	PROPN
ftr-493	453	3	administration	administration	PROPN
ftr-493	453	4	has	have	AUX
ftr-493	453	5	also	also	ADV
ftr-493	453	6	proposed	propose	VERB
ftr-493	453	7	requiring	require	VERB
ftr-493	453	8	securities	security	NOUN
ftr-493	453	9	dealers	dealer	NOUN
ftr-493	453	10	to	to	PART
ftr-493	453	11	mark	mark	VERB
ftr-493	453	12	their	their	PRON
ftr-493	453	13	inventories	inventory	NOUN
ftr-493	453	14	of	of	ADP
ftr-493	453	15	marketable	marketable	ADJ
ftr-493	453	16	securities	security	NOUN
ftr-493	453	17	to	to	ADP
ftr-493	453	18	market	market	NOUN
ftr-493	453	19	value	value	NOUN
ftr-493	453	20	at	at	ADP
ftr-493	453	21	each	each	DET
ftr-493	453	22	year	year	NOUN
ftr-493	453	23	-	-	PUNCT
ftr-493	453	24	end	end	NOUN
ftr-493	453	25	.	.	PUNCT
ftr-493	454	1	see	see	VERB
ftr-493	454	2	dept	dept	NOUN
ftr-493	454	3	.	.	PROPN
ftr-493	455	1	of	of	ADP
ftr-493	455	2	the	the	DET
ftr-493	455	3	treasury	treasury	NOUN
ftr-493	455	4	,	,	PUNCT
ftr-493	455	5	summary	summary	NOUN
ftr-493	455	6	of	of	ADP
ftr-493	455	7	the	the	DET
ftr-493	455	8	administration	administration	NOUN
ftr-493	455	9	's	's	PART
ftr-493	455	10	revenue	revenue	NOUN
ftr-493	455	11	proposals	proposal	NOUN
ftr-493	455	12	46	46	NUM
ftr-493	455	13	-	-	SYM
ftr-493	455	14	47	47	NUM
ftr-493	455	15	(	(	PUNCT
ftr-493	455	16	feb	feb	PROPN
ftr-493	455	17	.	.	PROPN
ftr-493	455	18	1993	1993	NUM
ftr-493	455	19	)	)	PUNCT
ftr-493	455	20	,	,	PUNCT
ftr-493	455	21	tax	tax	NOUN
ftr-493	455	22	notes	note	NOUN
ftr-493	455	23	microfiche	microfiche	PROPN
ftr-493	455	24	database	database	PROPN
ftr-493	455	25	doc	doc	PROPN
ftr-493	455	26	.	.	PROPN
ftr-493	455	27	93	93	NUM
ftr-493	455	28	-	-	SYM
ftr-493	455	29	2657	2657	NUM
ftr-493	455	30	(	(	PUNCT
ftr-493	455	31	mar	mar	PROPN
ftr-493	455	32	.	.	PROPN
ftr-493	455	33	1	1	NUM
ftr-493	455	34	,	,	PUNCT
ftr-493	455	35	1993	1993	NUM
ftr-493	455	36	)	)	PUNCT
ftr-493	455	37	.	.	PUNCT
ftr-493	456	1	second	second	ADJ
ftr-493	456	2	,	,	PUNCT
ftr-493	456	3	section	section	NOUN
ftr-493	456	4	1091	1091	NUM
ftr-493	456	5	does	do	AUX
ftr-493	456	6	not	not	PART
ftr-493	456	7	apply	apply	VERB
ftr-493	456	8	to	to	ADP
ftr-493	456	9	sales	sale	NOUN
ftr-493	456	10	made	make	VERB
ftr-493	456	11	in	in	ADP
ftr-493	456	12	the	the	DET
ftr-493	456	13	ordinary	ordinary	ADJ
ftr-493	456	14	course	course	NOUN
ftr-493	456	15	of	of	ADP
ftr-493	456	16	business	business	NOUN
ftr-493	456	17	by	by	ADP
ftr-493	456	18	dealers	dealer	NOUN
ftr-493	456	19	in	in	ADP
ftr-493	456	20	stock	stock	NOUN
ftr-493	456	21	or	or	CCONJ
ftr-493	456	22	securities	security	NOUN
ftr-493	456	23	.	.	PUNCT
ftr-493	457	1	64	64	NUM
ftr-493	457	2	.	.	PUNCT
ftr-493	458	1	no	no	DET
ftr-493	458	2	such	such	ADJ
ftr-493	458	3	regulations	regulation	NOUN
ftr-493	458	4	have	have	AUX
ftr-493	458	5	been	be	AUX
ftr-493	458	6	issued	issue	VERB
ftr-493	458	7	to	to	ADP
ftr-493	458	8	date	date	NOUN
ftr-493	458	9	.	.	PUNCT
ftr-493	459	1	the	the	DET
ftr-493	459	2	legislative	legislative	ADJ
ftr-493	459	3	history	history	NOUN
ftr-493	459	4	to	to	PART
ftr-493	459	5	section	section	VERB
ftr-493	459	6	1092	1092	NUM
ftr-493	459	7	states	state	NOUN
ftr-493	459	8	that	that	SCONJ
ftr-493	459	9	congress	congress	PROPN
ftr-493	459	10	intended	intend	VERB
ftr-493	459	11	that	that	SCONJ
ftr-493	459	12	any	any	DET
ftr-493	459	13	such	such	ADJ
ftr-493	459	14	regulations	regulation	NOUN
ftr-493	459	15	should	should	AUX
ftr-493	459	16	only	only	ADV
ftr-493	459	17	apply	apply	VERB
ftr-493	459	18	prospectively	prospectively	ADV
ftr-493	459	19	(	(	PUNCT
ftr-493	459	20	i.e.	i.e.	X
ftr-493	459	21	,	,	PUNCT
ftr-493	459	22	to	to	ADP
ftr-493	459	23	transactions	transaction	NOUN
ftr-493	459	24	entered	enter	VERB
ftr-493	459	25	into	into	ADP
ftr-493	459	26	after	after	ADP
ftr-493	459	27	the	the	DET
ftr-493	459	28	date	date	NOUN
ftr-493	459	29	such	such	ADJ
ftr-493	459	30	regulations	regulation	NOUN
ftr-493	459	31	are	be	AUX
ftr-493	459	32	issued	issue	VERB
ftr-493	459	33	)	)	PUNCT
ftr-493	459	34	,	,	PUNCT
ftr-493	459	35	except	except	SCONJ
ftr-493	459	36	in	in	ADP
ftr-493	459	37	the	the	DET
ftr-493	459	38	case	case	NOUN
ftr-493	459	39	of	of	ADP
ftr-493	459	40	certain	certain	ADJ
ftr-493	459	41	specified	specified	ADJ
ftr-493	459	42	transactions	transaction	NOUN
ftr-493	459	43	(	(	PUNCT
ftr-493	459	44	none	none	NOUN
ftr-493	459	45	of	of	ADP
ftr-493	459	46	which	which	PRON
ftr-493	459	47	involve	involve	VERB
ftr-493	459	48	equity	equity	NOUN
ftr-493	459	49	swaps	swap	NOUN
ftr-493	459	50	)	)	PUNCT
ftr-493	459	51	.	.	PUNCT
ftr-493	460	1	h.r	h.r	PROPN
ftr-493	460	2	.	.	PROPN
ftr-493	460	3	rep	rep	PROPN
ftr-493	460	4	.	.	PROPN
ftr-493	461	1	no	no	PROPN
ftr-493	462	1	.	.	NOUN
ftr-493	462	2	861	861	NUM
ftr-493	462	3	,	,	PUNCT
ftr-493	462	4	98th	98th	ADJ
ftr-493	462	5	cong	cong	NOUN
ftr-493	462	6	.	.	PROPN
ftr-493	462	7	,	,	PUNCT
ftr-493	462	8	2d	2d	PROPN
ftr-493	462	9	sess	sess	NOUN
ftr-493	462	10	.	.	PUNCT
ftr-493	463	1	908	908	NUM
ftr-493	463	2	(	(	PUNCT
ftr-493	463	3	1984	1984	NUM
ftr-493	463	4	)	)	PUNCT
ftr-493	463	5	.	.	PUNCT
ftr-493	464	1	65	65	NUM
ftr-493	464	2	.	.	X
ftr-493	465	1	for	for	ADP
ftr-493	465	2	example	example	NOUN
ftr-493	465	3	,	,	PUNCT
ftr-493	465	4	if	if	SCONJ
ftr-493	465	5	a	a	PRON
ftr-493	465	6	were	be	AUX
ftr-493	465	7	entitled	entitle	VERB
ftr-493	465	8	to	to	ADP
ftr-493	465	9	the	the	DET
ftr-493	465	10	70	70	NUM
ftr-493	465	11	%	%	NOUN
ftr-493	465	12	drd	drd	NOUN
ftr-493	465	13	with	with	ADP
ftr-493	465	14	respect	respect	NOUN
ftr-493	465	15	to	to	ADP
ftr-493	465	16	dividends	dividend	NOUN
ftr-493	465	17	received	receive	VERB
ftr-493	465	18	on	on	ADP
ftr-493	465	19	the	the	DET
ftr-493	465	20	underlying	underlie	VERB
ftr-493	465	21	stocks	stock	NOUN
ftr-493	465	22	while	while	SCONJ
ftr-493	465	23	being	be	AUX
ftr-493	465	24	allowed	allow	VERB
ftr-493	465	25	to	to	PART
ftr-493	465	26	deduct	deduct	VERB
ftr-493	465	27	the	the	DET
ftr-493	465	28	offsetting	offset	VERB
ftr-493	465	29	payments	payment	NOUN
ftr-493	465	30	made	make	VERB
ftr-493	465	31	19931	19931	NUM
ftr-493	465	32	florida	florida	PROPN
ftr-493	465	33	tax	tax	PROPN
ftr-493	465	34	review	review	NOUN
ftr-493	465	35	a	a	PRON
ftr-493	465	36	can	can	AUX
ftr-493	465	37	then	then	ADV
ftr-493	465	38	use	use	VERB
ftr-493	465	39	to	to	PART
ftr-493	465	40	shelter	shelter	VERB
ftr-493	465	41	other	other	ADJ
ftr-493	465	42	income	income	NOUN
ftr-493	465	43	,	,	PUNCT
ftr-493	465	44	effectively	effectively	ADV
ftr-493	465	45	converting	convert	VERB
ftr-493	465	46	that	that	DET
ftr-493	465	47	income	income	NOUN
ftr-493	465	48	into	into	ADP
ftr-493	465	49	tax	tax	NOUN
ftr-493	465	50	-	-	PUNCT
ftr-493	465	51	advantaged	advantaged	ADJ
ftr-493	465	52	dividend	dividend	NOUN
ftr-493	465	53	income	income	NOUN
ftr-493	465	54	.	.	PUNCT
ftr-493	466	1	this	this	PRON
ftr-493	466	2	,	,	PUNCT
ftr-493	466	3	of	of	ADP
ftr-493	466	4	course	course	NOUN
ftr-493	466	5	,	,	PUNCT
ftr-493	466	6	is	be	AUX
ftr-493	466	7	like	like	ADP
ftr-493	466	8	an	an	DET
ftr-493	466	9	old	old	ADJ
ftr-493	466	10	-	-	PUNCT
ftr-493	466	11	fashioned	fashioned	ADJ
ftr-493	466	12	dividend	dividend	NOUN
ftr-493	466	13	capture	capture	NOUN
ftr-493	466	14	strategy	strategy	NOUN
ftr-493	466	15	,	,	PUNCT
ftr-493	466	16	a	a	DET
ftr-493	466	17	classic	classic	ADJ
ftr-493	466	18	form	form	NOUN
ftr-493	466	19	of	of	ADP
ftr-493	466	20	tax	tax	NOUN
ftr-493	466	21	arbitrage	arbitrage	NOUN
ftr-493	466	22	,	,	PUNCT
ftr-493	466	23	and	and	CCONJ
ftr-493	466	24	the	the	DET
ftr-493	466	25	service	service	NOUN
ftr-493	466	26	seems	seem	VERB
ftr-493	466	27	to	to	PART
ftr-493	466	28	be	be	AUX
ftr-493	466	29	on	on	ADP
ftr-493	466	30	firm	firm	ADJ
ftr-493	466	31	ground	ground	NOUN
ftr-493	466	32	in	in	ADP
ftr-493	466	33	disallowing	disallow	VERB
ftr-493	466	34	a	a	DET
ftr-493	466	35	deduction	deduction	NOUN
ftr-493	466	36	for	for	ADP
ftr-493	466	37	the	the	DET
ftr-493	466	38	dividend	dividend	NOUN
ftr-493	466	39	-	-	PUNCT
ftr-493	466	40	based	base	VERB
ftr-493	466	41	payments	payment	NOUN
ftr-493	466	42	on	on	ADP
ftr-493	466	43	the	the	DET
ftr-493	466	44	equity	equity	NOUN
ftr-493	466	45	swap	swap	NOUN
ftr-493	466	46	.	.	PUNCT
ftr-493	466	47	'	'	PUNCT
ftr-493	467	1	thus	thus	ADV
ftr-493	467	2	,	,	PUNCT
ftr-493	467	3	section	section	NOUN
ftr-493	467	4	246(c)(1)(b	246(c)(1)(b	PROPN
ftr-493	467	5	)	)	PUNCT
ftr-493	467	6	disallows	disallow	VERB
ftr-493	467	7	the	the	DET
ftr-493	467	8	drd	drd	NOUN
ftr-493	467	9	"	"	PUNCT
ftr-493	467	10	in	in	ADP
ftr-493	467	11	respect	respect	NOUN
ftr-493	467	12	of	of	ADP
ftr-493	467	13	any	any	DET
ftr-493	467	14	dividend	dividend	NOUN
ftr-493	467	15	on	on	ADP
ftr-493	467	16	any	any	DET
ftr-493	467	17	share	share	NOUN
ftr-493	467	18	of	of	ADP
ftr-493	467	19	stock	stock	NOUN
ftr-493	467	20	...	...	PUNCT
ftr-493	467	21	to	to	ADP
ftr-493	467	22	the	the	DET
ftr-493	467	23	extent	extent	NOUN
ftr-493	467	24	that	that	SCONJ
ftr-493	467	25	the	the	DET
ftr-493	467	26	taxpayer	taxpayer	NOUN
ftr-493	467	27	is	be	AUX
ftr-493	467	28	under	under	ADP
ftr-493	467	29	an	an	DET
ftr-493	467	30	obligation	obligation	NOUN
ftr-493	467	31	(	(	PUNCT
ftr-493	467	32	whether	whether	SCONJ
ftr-493	467	33	pursuant	pursuant	ADJ
ftr-493	467	34	to	to	ADP
ftr-493	467	35	a	a	DET
ftr-493	467	36	short	short	ADJ
ftr-493	467	37	sale	sale	NOUN
ftr-493	467	38	or	or	CCONJ
ftr-493	467	39	otherwise	otherwise	ADV
ftr-493	467	40	)	)	PUNCT
ftr-493	467	41	to	to	PART
ftr-493	467	42	make	make	VERB
ftr-493	467	43	related	related	ADJ
ftr-493	467	44	payments	payment	NOUN
ftr-493	467	45	with	with	ADP
ftr-493	467	46	respect	respect	NOUN
ftr-493	467	47	to	to	ADP
ftr-493	467	48	positions	position	NOUN
ftr-493	467	49	in	in	ADP
ftr-493	467	50	substantially	substantially	ADV
ftr-493	467	51	similar	similar	ADJ
ftr-493	467	52	or	or	CCONJ
ftr-493	467	53	related	related	ADJ
ftr-493	467	54	property	property	NOUN
ftr-493	467	55	.	.	PUNCT
ftr-493	467	56	"	"	PUNCT
ftr-493	468	1	it	it	PRON
ftr-493	468	2	does	do	AUX
ftr-493	468	3	not	not	PART
ftr-493	468	4	seem	seem	VERB
ftr-493	468	5	too	too	ADV
ftr-493	468	6	difficult	difficult	ADJ
ftr-493	468	7	to	to	PART
ftr-493	468	8	conclude	conclude	VERB
ftr-493	468	9	that	that	SCONJ
ftr-493	468	10	the	the	DET
ftr-493	468	11	equity	equity	NOUN
ftr-493	468	12	swap	swap	NOUN
ftr-493	468	13	should	should	AUX
ftr-493	468	14	be	be	AUX
ftr-493	468	15	considered	consider	VERB
ftr-493	468	16	a	a	DET
ftr-493	468	17	position	position	NOUN
ftr-493	468	18	in	in	ADP
ftr-493	468	19	substantially	substantially	ADV
ftr-493	468	20	similar	similar	ADJ
ftr-493	468	21	or	or	CCONJ
ftr-493	468	22	related	related	ADJ
ftr-493	468	23	property	property	NOUN
ftr-493	468	24	(	(	PUNCT
ftr-493	468	25	indeed	indeed	ADV
ftr-493	468	26	,	,	PUNCT
ftr-493	468	27	the	the	DET
ftr-493	468	28	same	same	ADJ
ftr-493	468	29	property	property	NOUN
ftr-493	468	30	)	)	PUNCT
ftr-493	468	31	for	for	ADP
ftr-493	468	32	this	this	DET
ftr-493	468	33	purpose	purpose	NOUN
ftr-493	468	34	or	or	CCONJ
ftr-493	468	35	that	that	SCONJ
ftr-493	468	36	the	the	DET
ftr-493	468	37	dividend	dividend	NOUN
ftr-493	468	38	-	-	PUNCT
ftr-493	468	39	based	base	VERB
ftr-493	468	40	payments	payment	NOUN
ftr-493	468	41	under	under	ADP
ftr-493	468	42	the	the	DET
ftr-493	468	43	swap	swap	NOUN
ftr-493	468	44	should	should	AUX
ftr-493	468	45	be	be	AUX
ftr-493	468	46	considered	consider	VERB
ftr-493	468	47	to	to	PART
ftr-493	468	48	be	be	AUX
ftr-493	468	49	related	relate	VERB
ftr-493	468	50	payments	payment	NOUN
ftr-493	468	51	for	for	ADP
ftr-493	468	52	purposes	purpose	NOUN
ftr-493	468	53	of	of	ADP
ftr-493	468	54	section	section	NOUN
ftr-493	468	55	246(c)(1)(b	246(c)(1)(b	PROPN
ftr-493	468	56	)	)	PUNCT
ftr-493	468	57	.	.	PUNCT
ftr-493	469	1	but	but	CCONJ
ftr-493	469	2	what	what	PRON
ftr-493	469	3	if	if	SCONJ
ftr-493	469	4	a	a	PRON
ftr-493	469	5	,	,	PUNCT
ftr-493	469	6	perhaps	perhaps	ADV
ftr-493	469	7	counselled	counsel	VERB
ftr-493	469	8	by	by	ADP
ftr-493	469	9	a	a	DET
ftr-493	469	10	clever	clever	ADJ
ftr-493	469	11	tax	tax	NOUN
ftr-493	469	12	lawyer	lawyer	NOUN
ftr-493	469	13	,	,	PUNCT
ftr-493	469	14	alters	alter	VERB
ftr-493	469	15	the	the	DET
ftr-493	469	16	overall	overall	ADJ
ftr-493	469	17	transaction	transaction	NOUN
ftr-493	469	18	a	a	DET
ftr-493	469	19	bit	bit	NOUN
ftr-493	469	20	.	.	PUNCT
ftr-493	470	1	for	for	ADP
ftr-493	470	2	example	example	NOUN
ftr-493	470	3	,	,	PUNCT
ftr-493	470	4	suppose	suppose	VERB
ftr-493	470	5	that	that	SCONJ
ftr-493	470	6	the	the	DET
ftr-493	470	7	equity	equity	NOUN
ftr-493	470	8	swap	swap	NOUN
ftr-493	470	9	is	be	AUX
ftr-493	470	10	not	not	PART
ftr-493	470	11	based	base	VERB
ftr-493	470	12	on	on	ADP
ftr-493	470	13	values	value	NOUN
ftr-493	470	14	of	of	ADP
ftr-493	470	15	the	the	DET
ftr-493	470	16	djia	djia	NOUN
ftr-493	470	17	,	,	PUNCT
ftr-493	470	18	but	but	CCONJ
ftr-493	470	19	on	on	ADP
ftr-493	470	20	a	a	DET
ftr-493	470	21	selected	select	VERB
ftr-493	470	22	basket	basket	NOUN
ftr-493	470	23	of	of	ADP
ftr-493	470	24	particular	particular	ADJ
ftr-493	470	25	publiclytraded	publiclytrade	VERB
ftr-493	470	26	stocks	stock	NOUN
ftr-493	470	27	(	(	PUNCT
ftr-493	470	28	"	"	PUNCT
ftr-493	470	29	basket	basket	NOUN
ftr-493	470	30	1	1	NUM
ftr-493	470	31	"	"	PUNCT
ftr-493	470	32	)	)	PUNCT
ftr-493	470	33	.	.	PUNCT
ftr-493	471	1	suppose	suppose	VERB
ftr-493	471	2	further	far	ADV
ftr-493	471	3	that	that	SCONJ
ftr-493	471	4	,	,	PUNCT
ftr-493	471	5	instead	instead	ADV
ftr-493	471	6	of	of	ADP
ftr-493	471	7	being	be	AUX
ftr-493	471	8	required	require	VERB
ftr-493	471	9	to	to	PART
ftr-493	471	10	make	make	VERB
ftr-493	471	11	payments	payment	NOUN
ftr-493	471	12	to	to	ADP
ftr-493	471	13	b	b	NOUN
ftr-493	471	14	under	under	ADP
ftr-493	471	15	the	the	DET
ftr-493	471	16	swap	swap	NOUN
ftr-493	471	17	based	base	VERB
ftr-493	471	18	on	on	ADP
ftr-493	471	19	the	the	DET
ftr-493	471	20	actual	actual	ADJ
ftr-493	471	21	dividends	dividend	NOUN
ftr-493	471	22	declared	declare	VERB
ftr-493	471	23	and	and	CCONJ
ftr-493	471	24	paid	pay	VERB
ftr-493	471	25	each	each	DET
ftr-493	471	26	month	month	NOUN
ftr-493	471	27	on	on	ADP
ftr-493	471	28	the	the	DET
ftr-493	471	29	stocks	stock	NOUN
ftr-493	471	30	making	make	VERB
ftr-493	471	31	up	up	ADP
ftr-493	471	32	basket	basket	NOUN
ftr-493	471	33	1	1	NUM
ftr-493	471	34	,	,	PUNCT
ftr-493	471	35	a	a	PRON
ftr-493	471	36	is	be	AUX
ftr-493	471	37	required	require	VERB
ftr-493	471	38	to	to	PART
ftr-493	471	39	pay	pay	VERB
ftr-493	471	40	b	b	PRON
ftr-493	471	41	an	an	DET
ftr-493	471	42	amount	amount	NOUN
ftr-493	471	43	,	,	PUNCT
ftr-493	471	44	fixed	fix	VERB
ftr-493	471	45	at	at	ADP
ftr-493	471	46	the	the	DET
ftr-493	471	47	outset	outset	NOUN
ftr-493	471	48	of	of	ADP
ftr-493	471	49	the	the	DET
ftr-493	471	50	swap	swap	NOUN
ftr-493	471	51	,	,	PUNCT
ftr-493	471	52	which	which	PRON
ftr-493	471	53	just	just	ADV
ftr-493	471	54	happens	happen	VERB
ftr-493	471	55	to	to	PART
ftr-493	471	56	equal	equal	VERB
ftr-493	471	57	1/12th	1/12th	NUM
ftr-493	471	58	of	of	ADP
ftr-493	471	59	the	the	DET
ftr-493	471	60	average	average	ADJ
ftr-493	471	61	aggregate	aggregate	NOUN
ftr-493	471	62	amount	amount	NOUN
ftr-493	471	63	of	of	ADP
ftr-493	471	64	dividends	dividend	NOUN
ftr-493	471	65	paid	pay	VERB
ftr-493	471	66	yearly	yearly	ADV
ftr-493	471	67	on	on	ADP
ftr-493	471	68	the	the	DET
ftr-493	471	69	basket	basket	NOUN
ftr-493	471	70	1	1	NUM
ftr-493	471	71	stocks	stock	NOUN
ftr-493	471	72	over	over	ADP
ftr-493	471	73	the	the	DET
ftr-493	471	74	three	three	NUM
ftr-493	471	75	-	-	PUNCT
ftr-493	471	76	year	year	NOUN
ftr-493	471	77	period	period	NOUN
ftr-493	471	78	prior	prior	ADV
ftr-493	471	79	to	to	ADP
ftr-493	471	80	the	the	DET
ftr-493	471	81	date	date	NOUN
ftr-493	471	82	on	on	ADP
ftr-493	471	83	which	which	PRON
ftr-493	471	84	the	the	DET
ftr-493	471	85	parties	party	NOUN
ftr-493	471	86	entered	enter	VERB
ftr-493	471	87	into	into	ADP
ftr-493	471	88	the	the	DET
ftr-493	471	89	swap	swap	NOUN
ftr-493	471	90	.	.	PUNCT
ftr-493	472	1	also	also	ADV
ftr-493	472	2	assume	assume	VERB
ftr-493	472	3	that	that	SCONJ
ftr-493	472	4	the	the	DET
ftr-493	472	5	aggregate	aggregate	ADJ
ftr-493	472	6	dividend	dividend	NOUN
ftr-493	472	7	yield	yield	NOUN
ftr-493	472	8	on	on	ADP
ftr-493	472	9	the	the	DET
ftr-493	472	10	basket	basket	NOUN
ftr-493	472	11	1	1	NUM
ftr-493	472	12	stocks	stock	NOUN
ftr-493	472	13	has	have	AUX
ftr-493	472	14	been	be	AUX
ftr-493	472	15	relatively	relatively	ADV
ftr-493	472	16	constant	constant	ADJ
ftr-493	472	17	,	,	PUNCT
ftr-493	472	18	year	year	NOUN
ftr-493	472	19	-	-	PUNCT
ftr-493	472	20	to	to	ADP
ftr-493	472	21	-	-	PUNCT
ftr-493	472	22	year	year	NOUN
ftr-493	472	23	,	,	PUNCT
ftr-493	472	24	over	over	ADP
ftr-493	472	25	the	the	DET
ftr-493	472	26	past	past	ADJ
ftr-493	472	27	ten	ten	NUM
ftr-493	472	28	years	year	NOUN
ftr-493	472	29	and	and	CCONJ
ftr-493	472	30	that	that	SCONJ
ftr-493	472	31	it	it	PRON
ftr-493	472	32	is	be	AUX
ftr-493	472	33	believed	believe	VERB
ftr-493	472	34	that	that	SCONJ
ftr-493	472	35	this	this	PRON
ftr-493	472	36	will	will	AUX
ftr-493	472	37	continue	continue	VERB
ftr-493	472	38	to	to	PART
ftr-493	472	39	be	be	AUX
ftr-493	472	40	the	the	DET
ftr-493	472	41	case	case	NOUN
ftr-493	472	42	over	over	ADP
ftr-493	472	43	the	the	DET
ftr-493	472	44	course	course	NOUN
ftr-493	472	45	of	of	ADP
ftr-493	472	46	the	the	DET
ftr-493	472	47	life	life	NOUN
ftr-493	472	48	of	of	ADP
ftr-493	472	49	the	the	DET
ftr-493	472	50	swap.67	swap.67	NOUN
ftr-493	472	51	finally	finally	ADV
ftr-493	472	52	,	,	PUNCT
ftr-493	472	53	suppose	suppose	VERB
ftr-493	472	54	that	that	SCONJ
ftr-493	472	55	a	a	PRON
ftr-493	472	56	in	in	ADP
ftr-493	472	57	fact	fact	NOUN
ftr-493	472	58	owns	own	VERB
ftr-493	472	59	none	none	NOUN
ftr-493	472	60	of	of	ADP
ftr-493	472	61	the	the	DET
ftr-493	472	62	stocks	stock	NOUN
ftr-493	472	63	comprising	comprise	VERB
ftr-493	472	64	basket	basket	NOUN
ftr-493	472	65	1	1	NUM
ftr-493	472	66	,	,	PUNCT
ftr-493	472	67	but	but	CCONJ
ftr-493	472	68	instead	instead	ADV
ftr-493	472	69	owns	own	VERB
ftr-493	472	70	only	only	ADV
ftr-493	472	71	particular	particular	ADJ
ftr-493	472	72	publicly	publicly	ADV
ftr-493	472	73	-	-	PUNCT
ftr-493	472	74	traded	trade	VERB
ftr-493	472	75	shares	share	NOUN
ftr-493	472	76	making	make	VERB
ftr-493	472	77	up	up	ADP
ftr-493	472	78	a	a	DET
ftr-493	472	79	second	second	ADJ
ftr-493	472	80	basket	basket	NOUN
ftr-493	472	81	(	(	PUNCT
ftr-493	472	82	"	"	PUNCT
ftr-493	472	83	basket	basket	NOUN
ftr-493	472	84	2	2	NUM
ftr-493	472	85	"	"	PUNCT
ftr-493	472	86	)	)	PUNCT
ftr-493	472	87	,	,	PUNCT
ftr-493	472	88	and	and	CCONJ
ftr-493	472	89	that	that	SCONJ
ftr-493	472	90	the	the	DET
ftr-493	472	91	overall	overall	ADJ
ftr-493	472	92	price	price	NOUN
ftr-493	472	93	performance	performance	NOUN
ftr-493	472	94	/	/	SYM
ftr-493	472	95	dividend	dividend	NOUN
ftr-493	472	96	yield	yield	NOUN
ftr-493	472	97	of	of	ADP
ftr-493	472	98	the	the	DET
ftr-493	472	99	basket	basket	NOUN
ftr-493	472	100	2	2	NUM
ftr-493	472	101	stocks	stock	NOUN
ftr-493	472	102	is	be	AUX
ftr-493	472	103	expected	expect	VERB
ftr-493	472	104	to	to	PART
ftr-493	472	105	be	be	AUX
ftr-493	472	106	highly	highly	ADV
ftr-493	472	107	,	,	PUNCT
ftr-493	472	108	but	but	CCONJ
ftr-493	472	109	not	not	PART
ftr-493	472	110	perfectly	perfectly	ADV
ftr-493	472	111	,	,	PUNCT
ftr-493	472	112	correlated	correlate	VERB
ftr-493	472	113	with	with	ADP
ftr-493	472	114	that	that	PRON
ftr-493	472	115	of	of	ADP
ftr-493	472	116	basket	basket	NOUN
ftr-493	472	117	1	1	NUM
ftr-493	472	118	.	.	PUNCT
ftr-493	473	1	here	here	ADV
ftr-493	473	2	,	,	PUNCT
ftr-493	473	3	application	application	NOUN
ftr-493	473	4	of	of	ADP
ftr-493	473	5	section	section	NOUN
ftr-493	473	6	246(c)(1)(b	246(c)(1)(b	PROPN
ftr-493	473	7	)	)	PUNCT
ftr-493	473	8	to	to	ADP
ftr-493	473	9	dividends	dividend	NOUN
ftr-493	473	10	received	receive	VERB
ftr-493	473	11	on	on	ADP
ftr-493	473	12	the	the	DET
ftr-493	473	13	basket	basket	NOUN
ftr-493	473	14	2	2	NUM
ftr-493	473	15	stocks	stock	NOUN
ftr-493	473	16	is	be	AUX
ftr-493	473	17	more	more	ADV
ftr-493	473	18	difficult	difficult	ADJ
ftr-493	473	19	and	and	CCONJ
ftr-493	473	20	raises	raise	VERB
ftr-493	473	21	two	two	NUM
ftr-493	473	22	issues	issue	NOUN
ftr-493	473	23	.	.	PUNCT
ftr-493	474	1	the	the	DET
ftr-493	474	2	first	first	ADJ
ftr-493	474	3	is	be	AUX
ftr-493	474	4	whether	whether	SCONJ
ftr-493	474	5	the	the	DET
ftr-493	474	6	stocks	stock	NOUN
ftr-493	474	7	making	make	VERB
ftr-493	474	8	up	up	ADP
ftr-493	474	9	basket	basket	NOUN
ftr-493	474	10	1	1	NUM
ftr-493	474	11	should	should	AUX
ftr-493	474	12	be	be	AUX
ftr-493	474	13	considered	consider	VERB
ftr-493	474	14	substantially	substantially	ADV
ftr-493	474	15	similar	similar	ADJ
ftr-493	474	16	or	or	CCONJ
ftr-493	474	17	related	relate	VERB
ftr-493	474	18	to	to	ADP
ftr-493	474	19	those	those	DET
ftr-493	474	20	comprising	comprise	VERB
ftr-493	474	21	basket	basket	NOUN
ftr-493	474	22	2	2	NUM
ftr-493	474	23	for	for	ADP
ftr-493	474	24	purposes	purpose	NOUN
ftr-493	474	25	of	of	ADP
ftr-493	474	26	section	section	NOUN
ftr-493	474	27	246(c)(1)(b	246(c)(1)(b	PROPN
ftr-493	474	28	)	)	PUNCT
ftr-493	474	29	.	.	PUNCT
ftr-493	475	1	to	to	ADP
ftr-493	475	2	b	b	X
ftr-493	475	3	under	under	ADP
ftr-493	475	4	the	the	DET
ftr-493	475	5	equity	equity	NOUN
ftr-493	475	6	swap	swap	NOUN
ftr-493	475	7	with	with	ADP
ftr-493	475	8	respect	respect	NOUN
ftr-493	475	9	to	to	ADP
ftr-493	475	10	such	such	ADJ
ftr-493	475	11	dividends	dividend	NOUN
ftr-493	475	12	,	,	PUNCT
ftr-493	475	13	a	a	DET
ftr-493	475	14	net	net	ADJ
ftr-493	475	15	deduction	deduction	NOUN
ftr-493	475	16	equal	equal	ADJ
ftr-493	475	17	to	to	ADP
ftr-493	475	18	70	70	NUM
ftr-493	475	19	%	%	NOUN
ftr-493	475	20	of	of	ADP
ftr-493	475	21	the	the	DET
ftr-493	475	22	amount	amount	NOUN
ftr-493	475	23	of	of	ADP
ftr-493	475	24	dividends	dividend	NOUN
ftr-493	475	25	received	receive	VERB
ftr-493	475	26	(	(	PUNCT
ftr-493	475	27	i.e.	i.e.	X
ftr-493	475	28	,	,	PUNCT
ftr-493	475	29	equal	equal	ADJ
ftr-493	475	30	to	to	ADP
ftr-493	475	31	the	the	DET
ftr-493	475	32	drd	drd	NOUN
ftr-493	475	33	)	)	PUNCT
ftr-493	475	34	would	would	AUX
ftr-493	475	35	have	have	AUX
ftr-493	475	36	been	be	AUX
ftr-493	475	37	created	create	VERB
ftr-493	475	38	.	.	PUNCT
ftr-493	476	1	66	66	NUM
ftr-493	476	2	.	.	PUNCT
ftr-493	477	1	the	the	DET
ftr-493	477	2	perceived	perceive	VERB
ftr-493	477	3	abuses	abuse	NOUN
ftr-493	477	4	of	of	ADP
ftr-493	477	5	dividend	dividend	NOUN
ftr-493	477	6	capture	capture	NOUN
ftr-493	477	7	strategies	strategy	NOUN
ftr-493	477	8	led	lead	VERB
ftr-493	477	9	to	to	ADP
ftr-493	477	10	the	the	DET
ftr-493	477	11	enactment	enactment	NOUN
ftr-493	477	12	of	of	ADP
ftr-493	477	13	section	section	NOUN
ftr-493	477	14	246(c	246(c	PROPN
ftr-493	477	15	)	)	PUNCT
ftr-493	477	16	.	.	PUNCT
ftr-493	478	1	see	see	VERB
ftr-493	478	2	h.r	h.r	PROPN
ftr-493	478	3	.	.	PROPN
ftr-493	478	4	rep	rep	PROPN
ftr-493	478	5	.	.	PROPN
ftr-493	478	6	no	no	INTJ
ftr-493	478	7	.	.	PUNCT
ftr-493	479	1	775	775	NUM
ftr-493	479	2	,	,	PUNCT
ftr-493	479	3	85th	85th	ADJ
ftr-493	479	4	cong	cong	NOUN
ftr-493	479	5	.	.	PUNCT
ftr-493	479	6	,	,	PUNCT
ftr-493	479	7	1st	1st	ADJ
ftr-493	479	8	sess	sess	NOUN
ftr-493	479	9	.	.	PUNCT
ftr-493	480	1	14	14	NUM
ftr-493	480	2	(	(	PUNCT
ftr-493	480	3	1957	1957	NUM
ftr-493	480	4	)	)	PUNCT
ftr-493	480	5	;	;	PUNCT
ftr-493	480	6	h.r	h.r	PROPN
ftr-493	480	7	.	.	PROPN
ftr-493	480	8	rep	rep	PROPN
ftr-493	480	9	.	.	PROPN
ftr-493	481	1	no	no	INTJ
ftr-493	481	2	.	.	NOUN
ftr-493	481	3	432	432	NUM
ftr-493	481	4	,	,	PUNCT
ftr-493	481	5	supra	supra	PROPN
ftr-493	481	6	note	note	NOUN
ftr-493	481	7	35	35	NUM
ftr-493	481	8	,	,	PUNCT
ftr-493	481	9	at	at	ADP
ftr-493	481	10	1180	1180	NUM
ftr-493	481	11	.	.	PUNCT
ftr-493	482	1	67	67	NUM
ftr-493	482	2	.	.	PUNCT
ftr-493	483	1	for	for	ADP
ftr-493	483	2	example	example	NOUN
ftr-493	483	3	,	,	PUNCT
ftr-493	483	4	suppose	suppose	VERB
ftr-493	483	5	the	the	DET
ftr-493	483	6	stocks	stock	NOUN
ftr-493	483	7	making	make	VERB
ftr-493	483	8	up	up	ADP
ftr-493	483	9	basket	basket	NOUN
ftr-493	483	10	1	1	NUM
ftr-493	483	11	are	be	AUX
ftr-493	483	12	predominantly	predominantly	ADV
ftr-493	483	13	preferred	prefer	VERB
ftr-493	483	14	stocks	stock	NOUN
ftr-493	483	15	having	have	VERB
ftr-493	483	16	fixed	fix	VERB
ftr-493	483	17	dividends	dividend	NOUN
ftr-493	483	18	terms	term	NOUN
ftr-493	483	19	.	.	PUNCT
ftr-493	484	1	[	[	X
ftr-493	484	2	vol	vol	NOUN
ftr-493	484	3	.	.	PUNCT
ftr-493	484	4	1:5	1:5	NUM
ftr-493	484	5	selected	select	VERB
ftr-493	484	6	issues	issue	NOUN
ftr-493	484	7	in	in	ADP
ftr-493	484	8	the	the	DET
ftr-493	484	9	taration	taration	NOUN
ftr-493	484	10	of	of	ADP
ftr-493	484	11	swaps	swap	NOUN
ftr-493	484	12	the	the	DET
ftr-493	484	13	second	second	ADJ
ftr-493	484	14	is	be	AUX
ftr-493	484	15	whether	whether	SCONJ
ftr-493	484	16	the	the	DET
ftr-493	484	17	fixed	fix	VERB
ftr-493	484	18	payments	payment	NOUN
ftr-493	484	19	to	to	PART
ftr-493	484	20	be	be	AUX
ftr-493	484	21	made	make	VERB
ftr-493	484	22	by	by	ADP
ftr-493	484	23	a	a	DET
ftr-493	484	24	to	to	PART
ftr-493	484	25	b	b	NOUN
ftr-493	484	26	under	under	ADP
ftr-493	484	27	the	the	DET
ftr-493	484	28	swap	swap	NOUN
ftr-493	484	29	should	should	AUX
ftr-493	484	30	be	be	AUX
ftr-493	484	31	considered	consider	VERB
ftr-493	484	32	related	related	ADJ
ftr-493	484	33	payments	payment	NOUN
ftr-493	484	34	for	for	ADP
ftr-493	484	35	purposes	purpose	NOUN
ftr-493	484	36	of	of	ADP
ftr-493	484	37	that	that	DET
ftr-493	484	38	section	section	NOUN
ftr-493	484	39	.	.	PUNCT
ftr-493	485	1	the	the	DET
ftr-493	485	2	service	service	NOUN
ftr-493	485	3	's	's	PART
ftr-493	485	4	position	position	NOUN
ftr-493	485	5	with	with	ADP
ftr-493	485	6	respect	respect	NOUN
ftr-493	485	7	to	to	ADP
ftr-493	485	8	the	the	DET
ftr-493	485	9	first	first	ADJ
ftr-493	485	10	issue	issue	NOUN
ftr-493	485	11	is	be	AUX
ftr-493	485	12	suggested	suggest	VERB
ftr-493	485	13	by	by	ADP
ftr-493	485	14	i.r.s	i.r.	NOUN
ftr-493	485	15	.	.	PUNCT
ftr-493	486	1	technical	technical	ADJ
ftr-493	486	2	advice	advice	NOUN
ftr-493	486	3	memorandum	memorandum	NOUN
ftr-493	486	4	9128050	9128050	NUM
ftr-493	486	5	(	(	PUNCT
ftr-493	486	6	apr	apr	PROPN
ftr-493	486	7	.	.	PROPN
ftr-493	486	8	4	4	NUM
ftr-493	486	9	,	,	PUNCT
ftr-493	486	10	1991	1991	NUM
ftr-493	486	11	)	)	PUNCT
ftr-493	486	12	.	.	PUNCT
ftr-493	487	1	in	in	ADP
ftr-493	487	2	that	that	DET
ftr-493	487	3	memorandum	memorandum	NOUN
ftr-493	487	4	,	,	PUNCT
ftr-493	487	5	the	the	DET
ftr-493	487	6	service	service	NOUN
ftr-493	487	7	applied	apply	VERB
ftr-493	487	8	section	section	NOUN
ftr-493	487	9	246(c)(1)(b	246(c)(1)(b	PROPN
ftr-493	487	10	)	)	PUNCT
ftr-493	487	11	to	to	ADP
ftr-493	487	12	a	a	DET
ftr-493	487	13	"	"	PUNCT
ftr-493	487	14	preferred	preferred	ADJ
ftr-493	487	15	stock	stock	NOUN
ftr-493	487	16	rollover	rollover	NOUN
ftr-493	487	17	"	"	PUNCT
ftr-493	487	18	program	program	NOUN
ftr-493	487	19	.	.	PUNCT
ftr-493	488	1	the	the	DET
ftr-493	488	2	taxpayer	taxpayer	NOUN
ftr-493	488	3	in	in	ADP
ftr-493	488	4	the	the	DET
ftr-493	488	5	memorandum	memorandum	NOUN
ftr-493	488	6	had	have	AUX
ftr-493	488	7	purchased	purchase	VERB
ftr-493	488	8	multiple	multiple	ADJ
ftr-493	488	9	baskets	basket	NOUN
ftr-493	488	10	of	of	ADP
ftr-493	488	11	dividend	dividend	NOUN
ftr-493	488	12	-	-	PUNCT
ftr-493	488	13	paying	pay	VERB
ftr-493	488	14	preferred	preferred	ADJ
ftr-493	488	15	stock	stock	NOUN
ftr-493	488	16	,	,	PUNCT
ftr-493	488	17	and	and	CCONJ
ftr-493	488	18	,	,	PUNCT
ftr-493	488	19	at	at	ADP
ftr-493	488	20	the	the	DET
ftr-493	488	21	same	same	ADJ
ftr-493	488	22	time	time	NOUN
ftr-493	488	23	,	,	PUNCT
ftr-493	488	24	had	have	AUX
ftr-493	488	25	sold	sell	VERB
ftr-493	488	26	short	short	ADJ
ftr-493	488	27	baskets	basket	NOUN
ftr-493	488	28	of	of	ADP
ftr-493	488	29	other	other	ADJ
ftr-493	488	30	dividend	dividend	NOUN
ftr-493	488	31	-	-	PUNCT
ftr-493	488	32	paying	pay	VERB
ftr-493	488	33	preferred	preferred	ADJ
ftr-493	488	34	stock	stock	NOUN
ftr-493	488	35	.	.	PUNCT
ftr-493	489	1	the	the	DET
ftr-493	489	2	taxpayer	taxpayer	NOUN
ftr-493	489	3	was	be	AUX
ftr-493	489	4	required	require	VERB
ftr-493	489	5	to	to	PART
ftr-493	489	6	make	make	VERB
ftr-493	489	7	dividend	dividend	NOUN
ftr-493	489	8	-	-	PUNCT
ftr-493	489	9	equivalent	equivalent	ADJ
ftr-493	489	10	payments	payment	NOUN
ftr-493	489	11	with	with	ADP
ftr-493	489	12	respect	respect	NOUN
ftr-493	489	13	to	to	ADP
ftr-493	489	14	the	the	DET
ftr-493	489	15	stocks	stock	NOUN
ftr-493	489	16	comprising	comprise	VERB
ftr-493	489	17	the	the	DET
ftr-493	489	18	short	short	ADJ
ftr-493	489	19	baskets	basket	NOUN
ftr-493	489	20	.	.	PUNCT
ftr-493	490	1	there	there	PRON
ftr-493	490	2	was	be	VERB
ftr-493	490	3	no	no	DET
ftr-493	490	4	overlap	overlap	NOUN
ftr-493	490	5	between	between	ADP
ftr-493	490	6	the	the	DET
ftr-493	490	7	stocks	stock	NOUN
ftr-493	490	8	making	make	VERB
ftr-493	490	9	up	up	ADP
ftr-493	490	10	the	the	DET
ftr-493	490	11	long	long	ADJ
ftr-493	490	12	baskets	basket	NOUN
ftr-493	490	13	and	and	CCONJ
ftr-493	490	14	the	the	DET
ftr-493	490	15	short	short	ADJ
ftr-493	490	16	baskets	basket	NOUN
ftr-493	490	17	;	;	PUNCT
ftr-493	490	18	nevertheless	nevertheless	ADV
ftr-493	490	19	,	,	PUNCT
ftr-493	490	20	the	the	DET
ftr-493	490	21	stocks	stock	NOUN
ftr-493	490	22	making	make	VERB
ftr-493	490	23	up	up	ADP
ftr-493	490	24	the	the	DET
ftr-493	490	25	long	long	ADJ
ftr-493	490	26	and	and	CCONJ
ftr-493	490	27	short	short	ADJ
ftr-493	490	28	baskets	basket	NOUN
ftr-493	490	29	had	have	AUX
ftr-493	490	30	been	be	AUX
ftr-493	490	31	selected	select	VERB
ftr-493	490	32	so	so	SCONJ
ftr-493	490	33	that	that	SCONJ
ftr-493	490	34	the	the	DET
ftr-493	490	35	all	all	ADV
ftr-493	490	36	-	-	PUNCT
ftr-493	490	37	in	in	NOUN
ftr-493	490	38	return	return	NOUN
ftr-493	490	39	(	(	PUNCT
ftr-493	490	40	price	price	NOUN
ftr-493	490	41	change	change	NOUN
ftr-493	490	42	and	and	CCONJ
ftr-493	490	43	dividend	dividend	NOUN
ftr-493	490	44	yield	yield	NOUN
ftr-493	490	45	)	)	PUNCT
ftr-493	490	46	of	of	ADP
ftr-493	490	47	the	the	DET
ftr-493	490	48	long	long	ADJ
ftr-493	490	49	and	and	CCONJ
ftr-493	490	50	short	short	ADJ
ftr-493	490	51	baskets	basket	NOUN
ftr-493	490	52	were	be	AUX
ftr-493	490	53	expected	expect	VERB
ftr-493	490	54	to	to	PART
ftr-493	490	55	be	be	AUX
ftr-493	490	56	highly	highly	ADV
ftr-493	490	57	(	(	PUNCT
ftr-493	490	58	inversely	inversely	ADV
ftr-493	490	59	)	)	PUNCT
ftr-493	490	60	correlated	correlate	VERB
ftr-493	490	61	over	over	ADP
ftr-493	490	62	the	the	DET
ftr-493	490	63	life	life	NOUN
ftr-493	490	64	of	of	ADP
ftr-493	490	65	the	the	DET
ftr-493	490	66	program	program	NOUN
ftr-493	490	67	,	,	PUNCT
ftr-493	490	68	thereby	thereby	ADV
ftr-493	490	69	reducing	reduce	VERB
ftr-493	490	70	,	,	PUNCT
ftr-493	490	71	to	to	ADP
ftr-493	490	72	the	the	DET
ftr-493	490	73	greatest	great	ADJ
ftr-493	490	74	extent	extent	NOUN
ftr-493	490	75	possible	possible	ADJ
ftr-493	490	76	,	,	PUNCT
ftr-493	490	77	the	the	DET
ftr-493	490	78	taxpayer	taxpayer	NOUN
ftr-493	490	79	's	's	PART
ftr-493	490	80	economic	economic	ADJ
ftr-493	490	81	risk	risk	NOUN
ftr-493	490	82	from	from	ADP
ftr-493	490	83	entering	enter	VERB
ftr-493	490	84	into	into	ADP
ftr-493	490	85	the	the	DET
ftr-493	490	86	transaction	transaction	NOUN
ftr-493	490	87	.	.	PUNCT
ftr-493	491	1	the	the	DET
ftr-493	491	2	service	service	NOUN
ftr-493	491	3	,	,	PUNCT
ftr-493	491	4	on	on	ADP
ftr-493	491	5	these	these	DET
ftr-493	491	6	facts	fact	NOUN
ftr-493	491	7	,	,	PUNCT
ftr-493	491	8	concluded	conclude	VERB
ftr-493	491	9	that	that	SCONJ
ftr-493	491	10	,	,	PUNCT
ftr-493	491	11	given	give	VERB
ftr-493	491	12	the	the	DET
ftr-493	491	13	high	high	ADJ
ftr-493	491	14	correlation	correlation	NOUN
ftr-493	491	15	between	between	ADP
ftr-493	491	16	the	the	DET
ftr-493	491	17	expected	expect	VERB
ftr-493	491	18	economic	economic	ADJ
ftr-493	491	19	performance	performance	NOUN
ftr-493	491	20	of	of	ADP
ftr-493	491	21	the	the	DET
ftr-493	491	22	long	long	ADJ
ftr-493	491	23	and	and	CCONJ
ftr-493	491	24	short	short	ADJ
ftr-493	491	25	baskets	basket	NOUN
ftr-493	491	26	and	and	CCONJ
ftr-493	491	27	the	the	DET
ftr-493	491	28	purpose	purpose	NOUN
ftr-493	491	29	of	of	ADP
ftr-493	491	30	section	section	NOUN
ftr-493	491	31	246(c)(1)(b	246(c)(1)(b	PROPN
ftr-493	491	32	)	)	PUNCT
ftr-493	491	33	to	to	PART
ftr-493	491	34	prevent	prevent	VERB
ftr-493	491	35	tax	tax	NOUN
ftr-493	491	36	arbitrage	arbitrage	NOUN
ftr-493	491	37	schemes	scheme	NOUN
ftr-493	491	38	involving	involve	VERB
ftr-493	491	39	use	use	NOUN
ftr-493	491	40	of	of	ADP
ftr-493	491	41	the	the	DET
ftr-493	491	42	drd	drd	NOUN
ftr-493	491	43	,	,	PUNCT
ftr-493	491	44	the	the	DET
ftr-493	491	45	stocks	stock	NOUN
ftr-493	491	46	in	in	ADP
ftr-493	491	47	the	the	DET
ftr-493	491	48	short	short	ADJ
ftr-493	491	49	baskets	basket	NOUN
ftr-493	491	50	should	should	AUX
ftr-493	491	51	be	be	AUX
ftr-493	491	52	considered	consider	VERB
ftr-493	491	53	substantially	substantially	ADV
ftr-493	491	54	similar	similar	ADJ
ftr-493	491	55	or	or	CCONJ
ftr-493	491	56	related	relate	VERB
ftr-493	491	57	to	to	ADP
ftr-493	491	58	the	the	DET
ftr-493	491	59	stocks	stock	NOUN
ftr-493	491	60	comprising	comprise	VERB
ftr-493	491	61	the	the	DET
ftr-493	491	62	long	long	ADJ
ftr-493	491	63	baskets	basket	NOUN
ftr-493	491	64	,	,	PUNCT
ftr-493	491	65	with	with	ADP
ftr-493	491	66	the	the	DET
ftr-493	491	67	result	result	NOUN
ftr-493	491	68	under	under	ADP
ftr-493	491	69	section	section	NOUN
ftr-493	491	70	246(c)(1)(b	246(c)(1)(b	NUM
ftr-493	491	71	)	)	PUNCT
ftr-493	491	72	that	that	SCONJ
ftr-493	491	73	no	no	DET
ftr-493	491	74	drd	drd	NOUN
ftr-493	491	75	was	be	AUX
ftr-493	491	76	allowed	allow	VERB
ftr-493	491	77	with	with	ADP
ftr-493	491	78	respect	respect	NOUN
ftr-493	491	79	to	to	ADP
ftr-493	491	80	dividends	dividend	NOUN
ftr-493	491	81	received	receive	VERB
ftr-493	491	82	on	on	ADP
ftr-493	491	83	the	the	DET
ftr-493	491	84	stocks	stock	NOUN
ftr-493	491	85	making	make	VERB
ftr-493	491	86	up	up	ADP
ftr-493	491	87	the	the	DET
ftr-493	491	88	long	long	ADJ
ftr-493	491	89	basket	basket	NOUN
ftr-493	491	90	.	.	PUNCT
ftr-493	492	1	while	while	SCONJ
ftr-493	492	2	some	some	PRON
ftr-493	492	3	might	might	AUX
ftr-493	492	4	criticize	criticize	VERB
ftr-493	492	5	the	the	DET
ftr-493	492	6	reasoning	reasoning	NOUN
ftr-493	492	7	of	of	ADP
ftr-493	492	8	the	the	DET
ftr-493	492	9	memorandum	memorandum	NOUN
ftr-493	492	10	as	as	ADP
ftr-493	492	11	representing	represent	VERB
ftr-493	492	12	an	an	DET
ftr-493	492	13	overly	overly	ADV
ftr-493	492	14	expansive	expansive	ADJ
ftr-493	492	15	interpretation	interpretation	NOUN
ftr-493	492	16	of	of	ADP
ftr-493	492	17	the	the	DET
ftr-493	492	18	statute	statute	NOUN
ftr-493	492	19	,	,	PUNCT
ftr-493	492	20	the	the	DET
ftr-493	492	21	result	result	NOUN
ftr-493	492	22	is	be	AUX
ftr-493	492	23	not	not	PART
ftr-493	492	24	unreasonable	unreasonable	ADJ
ftr-493	492	25	.	.	PUNCT
ftr-493	493	1	and	and	CCONJ
ftr-493	493	2	it	it	PRON
ftr-493	493	3	is	be	AUX
ftr-493	493	4	not	not	PART
ftr-493	493	5	difficult	difficult	ADJ
ftr-493	493	6	to	to	PART
ftr-493	493	7	see	see	VERB
ftr-493	493	8	how	how	SCONJ
ftr-493	493	9	the	the	DET
ftr-493	493	10	reasoning	reasoning	NOUN
ftr-493	493	11	of	of	ADP
ftr-493	493	12	the	the	DET
ftr-493	493	13	memorandum	memorandum	NOUN
ftr-493	493	14	could	could	AUX
ftr-493	493	15	be	be	AUX
ftr-493	493	16	applied	apply	VERB
ftr-493	493	17	to	to	ADP
ftr-493	493	18	the	the	DET
ftr-493	493	19	facts	fact	NOUN
ftr-493	493	20	of	of	ADP
ftr-493	493	21	our	our	PRON
ftr-493	493	22	equity	equity	NOUN
ftr-493	493	23	swap	swap	NOUN
ftr-493	493	24	transaction	transaction	NOUN
ftr-493	493	25	.	.	PUNCT
ftr-493	494	1	the	the	DET
ftr-493	494	2	second	second	ADJ
ftr-493	494	3	issue	issue	NOUN
ftr-493	494	4	is	be	AUX
ftr-493	494	5	whether	whether	SCONJ
ftr-493	494	6	the	the	DET
ftr-493	494	7	fixed	fix	VERB
ftr-493	494	8	payments	payment	NOUN
ftr-493	494	9	on	on	ADP
ftr-493	494	10	the	the	DET
ftr-493	494	11	equity	equity	NOUN
ftr-493	494	12	swap	swap	NOUN
ftr-493	494	13	constitute	constitute	VERB
ftr-493	494	14	related	relate	VERB
ftr-493	494	15	payments	payment	NOUN
ftr-493	494	16	with	with	ADP
ftr-493	494	17	respect	respect	NOUN
ftr-493	494	18	to	to	ADP
ftr-493	494	19	dividends	dividend	NOUN
ftr-493	494	20	received	receive	VERB
ftr-493	494	21	on	on	ADP
ftr-493	494	22	the	the	DET
ftr-493	494	23	basket	basket	NOUN
ftr-493	494	24	2	2	NUM
ftr-493	494	25	stocks	stock	NOUN
ftr-493	494	26	.	.	PUNCT
ftr-493	495	1	in	in	ADP
ftr-493	495	2	particular	particular	ADJ
ftr-493	495	3	,	,	PUNCT
ftr-493	495	4	does	do	AUX
ftr-493	495	5	the	the	DET
ftr-493	495	6	fact	fact	NOUN
ftr-493	495	7	that	that	SCONJ
ftr-493	495	8	they	they	PRON
ftr-493	495	9	are	be	AUX
ftr-493	495	10	based	base	VERB
ftr-493	495	11	on	on	ADP
ftr-493	495	12	the	the	DET
ftr-493	495	13	historic	historic	ADJ
ftr-493	495	14	,	,	PUNCT
ftr-493	495	15	rather	rather	ADV
ftr-493	495	16	than	than	ADP
ftr-493	495	17	the	the	DET
ftr-493	495	18	actual	actual	ADJ
ftr-493	495	19	,	,	PUNCT
ftr-493	495	20	dividend	dividend	NOUN
ftr-493	495	21	yield	yield	NOUN
ftr-493	495	22	on	on	ADP
ftr-493	495	23	the	the	DET
ftr-493	495	24	basket	basket	NOUN
ftr-493	495	25	1	1	NUM
ftr-493	495	26	stocks	stock	NOUN
ftr-493	495	27	insulate	insulate	VERB
ftr-493	495	28	them	they	PRON
ftr-493	495	29	from	from	ADP
ftr-493	495	30	being	be	AUX
ftr-493	495	31	related	related	ADJ
ftr-493	495	32	payments	payment	NOUN
ftr-493	495	33	?	?	PUNCT
ftr-493	496	1	probably	probably	ADV
ftr-493	496	2	not	not	PART
ftr-493	496	3	.	.	PUNCT
ftr-493	497	1	given	give	VERB
ftr-493	497	2	the	the	DET
ftr-493	497	3	expected	expect	VERB
ftr-493	497	4	correlation	correlation	NOUN
ftr-493	497	5	between	between	ADP
ftr-493	497	6	the	the	DET
ftr-493	497	7	fixed	fix	VERB
ftr-493	497	8	payments	payment	NOUN
ftr-493	497	9	on	on	ADP
ftr-493	497	10	the	the	DET
ftr-493	497	11	equity	equity	NOUN
ftr-493	497	12	swap	swap	NOUN
ftr-493	497	13	and	and	CCONJ
ftr-493	497	14	the	the	DET
ftr-493	497	15	dividends	dividend	NOUN
ftr-493	497	16	actually	actually	ADV
ftr-493	497	17	paid	pay	VERB
ftr-493	497	18	on	on	ADP
ftr-493	497	19	the	the	DET
ftr-493	497	20	basket	basket	NOUN
ftr-493	497	21	1	1	NUM
ftr-493	497	22	stocks	stock	NOUN
ftr-493	497	23	,	,	PUNCT
ftr-493	497	24	which	which	PRON
ftr-493	497	25	,	,	PUNCT
ftr-493	497	26	in	in	ADP
ftr-493	497	27	turn	turn	NOUN
ftr-493	497	28	,	,	PUNCT
ftr-493	497	29	are	be	AUX
ftr-493	497	30	anticipated	anticipate	VERB
ftr-493	497	31	to	to	PART
ftr-493	497	32	mimic	mimic	VERB
ftr-493	497	33	the	the	DET
ftr-493	497	34	dividend	dividend	NOUN
ftr-493	497	35	payments	payment	NOUN
ftr-493	497	36	on	on	ADP
ftr-493	497	37	the	the	DET
ftr-493	497	38	basket	basket	NOUN
ftr-493	497	39	2	2	NUM
ftr-493	497	40	stocks	stock	NOUN
ftr-493	497	41	,	,	PUNCT
ftr-493	497	42	and	and	CCONJ
ftr-493	497	43	the	the	DET
ftr-493	497	44	fact	fact	NOUN
ftr-493	497	45	that	that	SCONJ
ftr-493	497	46	the	the	DET
ftr-493	497	47	statute	statute	NOUN
ftr-493	497	48	merely	merely	ADV
ftr-493	497	49	requires	require	VERB
ftr-493	497	50	that	that	SCONJ
ftr-493	497	51	the	the	DET
ftr-493	497	52	fixed	fix	VERB
ftr-493	497	53	payments	payment	NOUN
ftr-493	497	54	be	be	AUX
ftr-493	497	55	related	relate	VERB
ftr-493	497	56	(	(	PUNCT
ftr-493	497	57	not	not	PART
ftr-493	497	58	identical	identical	ADJ
ftr-493	497	59	)	)	PUNCT
ftr-493	497	60	to	to	ADP
ftr-493	497	61	dividends	dividend	NOUN
ftr-493	497	62	on	on	ADP
ftr-493	497	63	the	the	DET
ftr-493	497	64	basket	basket	NOUN
ftr-493	497	65	1	1	NUM
ftr-493	497	66	stocks	stock	NOUN
ftr-493	497	67	,	,	PUNCT
ftr-493	497	68	it	it	PRON
ftr-493	497	69	is	be	AUX
ftr-493	497	70	likely	likely	ADJ
ftr-493	497	71	that	that	SCONJ
ftr-493	497	72	the	the	DET
ftr-493	497	73	service	service	NOUN
ftr-493	497	74	could	could	AUX
ftr-493	497	75	successfully	successfully	ADV
ftr-493	497	76	contend	contend	VERB
ftr-493	497	77	that	that	SCONJ
ftr-493	497	78	the	the	DET
ftr-493	497	79	fixed	fix	VERB
ftr-493	497	80	payments	payment	NOUN
ftr-493	497	81	are	be	AUX
ftr-493	497	82	indeed	indeed	ADV
ftr-493	497	83	related	relate	VERB
ftr-493	497	84	payments	payment	NOUN
ftr-493	497	85	.	.	PUNCT
ftr-493	498	1	5	5	X
ftr-493	498	2	.	.	X
ftr-493	498	3	equity	equity	NOUN
ftr-493	498	4	swaps	swap	NOUN
ftr-493	498	5	and	and	CCONJ
ftr-493	498	6	withholding	withholding	NOUN
ftr-493	498	7	taxes.-equity	taxes.-equity	NOUN
ftr-493	498	8	swaps	swap	NOUN
ftr-493	498	9	can	can	AUX
ftr-493	498	10	be	be	AUX
ftr-493	498	11	used	use	VERB
ftr-493	498	12	to	to	PART
ftr-493	498	13	achieve	achieve	VERB
ftr-493	498	14	a	a	DET
ftr-493	498	15	variety	variety	NOUN
ftr-493	498	16	of	of	ADP
ftr-493	498	17	economic	economic	ADJ
ftr-493	498	18	goals	goal	NOUN
ftr-493	498	19	.	.	PUNCT
ftr-493	499	1	thus	thus	ADV
ftr-493	499	2	,	,	PUNCT
ftr-493	499	3	an	an	DET
ftr-493	499	4	institutional	institutional	ADJ
ftr-493	499	5	investor	investor	NOUN
ftr-493	499	6	can	can	AUX
ftr-493	499	7	employ	employ	VERB
ftr-493	499	8	an	an	DET
ftr-493	499	9	equity	equity	NOUN
ftr-493	499	10	swap	swap	NOUN
ftr-493	499	11	to	to	PART
ftr-493	499	12	diversify	diversify	VERB
ftr-493	499	13	its	its	PRON
ftr-493	499	14	portfolio	portfolio	NOUN
ftr-493	499	15	,	,	PUNCT
ftr-493	499	16	effectively	effectively	ADV
ftr-493	499	17	shifting	shift	VERB
ftr-493	499	18	from	from	ADP
ftr-493	499	19	fixed	fix	VERB
ftr-493	499	20	income	income	NOUN
ftr-493	499	21	securities	security	NOUN
ftr-493	499	22	into	into	ADP
ftr-493	499	23	stocks	stock	NOUN
ftr-493	499	24	,	,	PUNCT
ftr-493	499	25	from	from	ADP
ftr-493	499	26	stocks	stock	NOUN
ftr-493	499	27	into	into	ADP
ftr-493	499	28	fixed	fix	VERB
ftr-493	499	29	income	income	NOUN
ftr-493	499	30	securities	security	NOUN
ftr-493	499	31	,	,	PUNCT
ftr-493	499	32	19931	19931	NUM
ftr-493	499	33	florida	florida	PROPN
ftr-493	499	34	tax	tax	NOUN
ftr-493	499	35	review	review	NOUN
ftr-493	499	36	or	or	CCONJ
ftr-493	499	37	from	from	ADP
ftr-493	499	38	one	one	NUM
ftr-493	499	39	basket	basket	NOUN
ftr-493	499	40	of	of	ADP
ftr-493	499	41	stocks	stock	NOUN
ftr-493	499	42	into	into	ADP
ftr-493	499	43	another	another	PRON
ftr-493	499	44	,	,	PUNCT
ftr-493	499	45	without	without	ADP
ftr-493	499	46	incurring	incur	VERB
ftr-493	499	47	the	the	DET
ftr-493	499	48	transaction	transaction	NOUN
ftr-493	499	49	costs	cost	NOUN
ftr-493	499	50	and	and	CCONJ
ftr-493	499	51	capital	capital	NOUN
ftr-493	499	52	gains	gain	NOUN
ftr-493	499	53	taxes	taxis	NOUN
ftr-493	499	54	that	that	PRON
ftr-493	499	55	would	would	AUX
ftr-493	499	56	otherwise	otherwise	ADV
ftr-493	499	57	be	be	AUX
ftr-493	499	58	incurred	incur	VERB
ftr-493	499	59	in	in	ADP
ftr-493	499	60	actually	actually	ADV
ftr-493	499	61	selling	sell	VERB
ftr-493	499	62	and	and	CCONJ
ftr-493	499	63	buying	buy	VERB
ftr-493	499	64	physical	physical	ADJ
ftr-493	499	65	securities	security	NOUN
ftr-493	499	66	.	.	PUNCT
ftr-493	500	1	additionally	additionally	ADV
ftr-493	500	2	,	,	PUNCT
ftr-493	500	3	equity	equity	NOUN
ftr-493	500	4	swaps	swap	NOUN
ftr-493	500	5	can	can	AUX
ftr-493	500	6	be	be	AUX
ftr-493	500	7	used	use	VERB
ftr-493	500	8	,	,	PUNCT
ftr-493	500	9	like	like	ADP
ftr-493	500	10	over	over	ADP
ftr-493	500	11	-	-	PUNCT
ftr-493	500	12	the	the	DET
ftr-493	500	13	-	-	PUNCT
ftr-493	500	14	counter	counter	NOUN
ftr-493	500	15	options	option	NOUN
ftr-493	500	16	and	and	CCONJ
ftr-493	500	17	forward	forward	ADJ
ftr-493	500	18	contracts	contract	NOUN
ftr-493	500	19	,	,	PUNCT
ftr-493	500	20	to	to	PART
ftr-493	500	21	provide	provide	VERB
ftr-493	500	22	a	a	DET
ftr-493	500	23	customized	customized	ADJ
ftr-493	500	24	hedge	hedge	NOUN
ftr-493	500	25	for	for	ADP
ftr-493	500	26	an	an	DET
ftr-493	500	27	existing	exist	VERB
ftr-493	500	28	position	position	NOUN
ftr-493	500	29	in	in	ADP
ftr-493	500	30	stocks	stock	NOUN
ftr-493	500	31	.	.	PUNCT
ftr-493	501	1	however	however	ADV
ftr-493	501	2	,	,	PUNCT
ftr-493	501	3	equity	equity	NOUN
ftr-493	501	4	swaps	swap	NOUN
ftr-493	501	5	can	can	AUX
ftr-493	501	6	also	also	ADV
ftr-493	501	7	be	be	AUX
ftr-493	501	8	used	use	VERB
ftr-493	501	9	for	for	ADP
ftr-493	501	10	another	another	DET
ftr-493	501	11	purpose	purpose	NOUN
ftr-493	501	12	,	,	PUNCT
ftr-493	501	13	one	one	NOUN
ftr-493	501	14	that	that	PRON
ftr-493	501	15	is	be	AUX
ftr-493	501	16	far	far	ADV
ftr-493	501	17	more	more	ADV
ftr-493	501	18	troubling	troubling	ADJ
ftr-493	501	19	to	to	ADP
ftr-493	501	20	the	the	DET
ftr-493	501	21	service	service	NOUN
ftr-493	501	22	.	.	PUNCT
ftr-493	502	1	for	for	ADP
ftr-493	502	2	example	example	NOUN
ftr-493	502	3	,	,	PUNCT
ftr-493	502	4	as	as	SCONJ
ftr-493	502	5	scholes	schole	NOUN
ftr-493	502	6	and	and	CCONJ
ftr-493	502	7	wolfson	wolfson	PROPN
ftr-493	502	8	point	point	VERB
ftr-493	502	9	out	out	ADP
ftr-493	502	10	,	,	PUNCT
ftr-493	502	11	equity	equity	NOUN
ftr-493	502	12	swaps	swap	NOUN
ftr-493	502	13	are	be	AUX
ftr-493	502	14	(	(	PUNCT
ftr-493	502	15	potentially	potentially	ADV
ftr-493	502	16	)	)	PUNCT
ftr-493	502	17	a	a	DET
ftr-493	502	18	convenient	convenient	ADJ
ftr-493	502	19	way	way	NOUN
ftr-493	502	20	for	for	SCONJ
ftr-493	502	21	foreign	foreign	ADJ
ftr-493	502	22	investors	investor	NOUN
ftr-493	502	23	to	to	PART
ftr-493	502	24	avoid	avoid	VERB
ftr-493	502	25	withholding	withhold	VERB
ftr-493	502	26	taxes	taxis	NOUN
ftr-493	502	27	on	on	ADP
ftr-493	502	28	dividends.68	dividends.68	NOUN
ftr-493	502	29	in	in	ADP
ftr-493	502	30	particular	particular	ADJ
ftr-493	502	31	,	,	PUNCT
ftr-493	502	32	if	if	SCONJ
ftr-493	502	33	dividends	dividend	NOUN
ftr-493	502	34	paid	pay	VERB
ftr-493	502	35	on	on	ADP
ftr-493	502	36	(	(	PUNCT
ftr-493	502	37	physical	physical	ADJ
ftr-493	502	38	)	)	PUNCT
ftr-493	502	39	stock	stock	NOUN
ftr-493	502	40	are	be	AUX
ftr-493	502	41	subject	subject	ADJ
ftr-493	502	42	to	to	ADP
ftr-493	502	43	withholding	withholding	NOUN
ftr-493	502	44	tax	tax	NOUN
ftr-493	502	45	,	,	PUNCT
ftr-493	502	46	while	while	SCONJ
ftr-493	502	47	dividend	dividend	NOUN
ftr-493	502	48	-	-	PUNCT
ftr-493	502	49	based	base	VERB
ftr-493	502	50	payments	payment	NOUN
ftr-493	502	51	on	on	ADP
ftr-493	502	52	equity	equity	NOUN
ftr-493	502	53	swaps	swap	NOUN
ftr-493	502	54	are	be	AUX
ftr-493	502	55	not	not	PART
ftr-493	502	56	,	,	PUNCT
ftr-493	502	57	the	the	DET
ftr-493	502	58	after	after	ADP
ftr-493	502	59	-	-	PUNCT
ftr-493	502	60	tax	tax	NOUN
ftr-493	502	61	returns	return	NOUN
ftr-493	502	62	to	to	ADP
ftr-493	502	63	foreign	foreign	ADJ
ftr-493	502	64	investors	investor	NOUN
ftr-493	502	65	will	will	AUX
ftr-493	502	66	be	be	AUX
ftr-493	502	67	enhanced	enhance	VERB
ftr-493	502	68	by	by	ADP
ftr-493	502	69	substituting	substitute	VERB
ftr-493	502	70	equity	equity	NOUN
ftr-493	502	71	swaps	swap	NOUN
ftr-493	502	72	for	for	ADP
ftr-493	502	73	positions	position	NOUN
ftr-493	502	74	in	in	ADP
ftr-493	502	75	(	(	PUNCT
ftr-493	502	76	physical	physical	ADJ
ftr-493	502	77	)	)	PUNCT
ftr-493	502	78	stocks	stock	NOUN
ftr-493	502	79	with	with	ADP
ftr-493	502	80	little	little	ADJ
ftr-493	502	81	,	,	PUNCT
ftr-493	502	82	if	if	SCONJ
ftr-493	502	83	any	any	PRON
ftr-493	502	84	,	,	PUNCT
ftr-493	502	85	change	change	NOUN
ftr-493	502	86	in	in	ADP
ftr-493	502	87	the	the	DET
ftr-493	502	88	non	non	ADJ
ftr-493	502	89	-	-	ADJ
ftr-493	502	90	tax	tax	ADJ
ftr-493	502	91	characteristics	characteristic	NOUN
ftr-493	502	92	and	and	CCONJ
ftr-493	502	93	performance	performance	NOUN
ftr-493	502	94	of	of	ADP
ftr-493	502	95	those	those	DET
ftr-493	502	96	investors	investor	NOUN
ftr-493	502	97	'	'	PART
ftr-493	502	98	portfolios.69	portfolios.69	NOUN
ftr-493	502	99	two	two	NUM
ftr-493	502	100	questions	question	NOUN
ftr-493	502	101	thus	thus	ADV
ftr-493	502	102	arise	arise	VERB
ftr-493	502	103	:	:	PUNCT
ftr-493	502	104	(	(	PUNCT
ftr-493	502	105	1	1	X
ftr-493	502	106	)	)	PUNCT
ftr-493	502	107	are	be	AUX
ftr-493	502	108	dividend	dividend	NOUN
ftr-493	502	109	-	-	PUNCT
ftr-493	502	110	based	base	VERB
ftr-493	502	111	payments	payment	NOUN
ftr-493	502	112	on	on	ADP
ftr-493	502	113	equity	equity	NOUN
ftr-493	502	114	swaps	swap	NOUN
ftr-493	502	115	subject	subject	ADJ
ftr-493	502	116	to	to	ADP
ftr-493	502	117	u.s	u.s	PROPN
ftr-493	502	118	.	.	PROPN
ftr-493	502	119	withholding	withholding	NOUN
ftr-493	502	120	taxes	taxis	NOUN
ftr-493	502	121	under	under	ADP
ftr-493	502	122	current	current	ADJ
ftr-493	502	123	law	law	NOUN
ftr-493	502	124	?	?	PUNCT
ftr-493	503	1	and	and	CCONJ
ftr-493	503	2	(	(	PUNCT
ftr-493	503	3	2	2	X
ftr-493	503	4	)	)	PUNCT
ftr-493	503	5	regardless	regardless	ADV
ftr-493	503	6	of	of	ADP
ftr-493	503	7	the	the	DET
ftr-493	503	8	result	result	NOUN
ftr-493	503	9	under	under	ADP
ftr-493	503	10	current	current	ADJ
ftr-493	503	11	law	law	NOUN
ftr-493	503	12	,	,	PUNCT
ftr-493	503	13	should	should	AUX
ftr-493	503	14	withholding	withhold	VERB
ftr-493	503	15	taxes	taxis	NOUN
ftr-493	503	16	be	be	AUX
ftr-493	503	17	imposed	impose	VERB
ftr-493	503	18	on	on	ADP
ftr-493	503	19	such	such	ADJ
ftr-493	503	20	payments	payment	NOUN
ftr-493	503	21	as	as	ADP
ftr-493	503	22	a	a	DET
ftr-493	503	23	matter	matter	NOUN
ftr-493	503	24	of	of	ADP
ftr-493	503	25	u.s	u.s	PROPN
ftr-493	503	26	.	.	PROPN
ftr-493	503	27	tax	tax	NOUN
ftr-493	503	28	policy	policy	NOUN
ftr-493	503	29	?	?	PUNCT
ftr-493	504	1	the	the	DET
ftr-493	504	2	answer	answer	NOUN
ftr-493	504	3	to	to	ADP
ftr-493	504	4	the	the	DET
ftr-493	504	5	first	first	ADJ
ftr-493	504	6	question	question	NOUN
ftr-493	504	7	appears	appear	VERB
ftr-493	504	8	to	to	PART
ftr-493	504	9	be	be	AUX
ftr-493	504	10	no	no	PRON
ftr-493	504	11	.	.	PUNCT
ftr-493	505	1	under	under	ADP
ftr-493	505	2	regulations	regulation	NOUN
ftr-493	505	3	section	section	NOUN
ftr-493	505	4	1.863	1.863	NUM
ftr-493	505	5	-	-	SYM
ftr-493	505	6	7	7	NUM
ftr-493	505	7	,	,	PUNCT
ftr-493	505	8	income	income	NOUN
ftr-493	505	9	attributable	attributable	ADJ
ftr-493	505	10	to	to	ADP
ftr-493	505	11	a	a	DET
ftr-493	505	12	notional	notional	ADJ
ftr-493	505	13	principal	principal	ADJ
ftr-493	505	14	contract	contract	NOUN
ftr-493	505	15	is	be	AUX
ftr-493	505	16	generally	generally	ADV
ftr-493	505	17	sourced	source	VERB
ftr-493	505	18	according	accord	VERB
ftr-493	505	19	to	to	ADP
ftr-493	505	20	the	the	DET
ftr-493	505	21	tax	tax	NOUN
ftr-493	505	22	residence	residence	NOUN
ftr-493	505	23	of	of	ADP
ftr-493	505	24	the	the	DET
ftr-493	505	25	taxpayer	taxpayer	NOUN
ftr-493	505	26	.	.	PUNCT
ftr-493	506	1	thus	thus	ADV
ftr-493	506	2	,	,	PUNCT
ftr-493	506	3	a	a	DET
ftr-493	506	4	nonu.s	nonu.s	PROPN
ftr-493	506	5	.	.	PUNCT
ftr-493	507	1	counterparty	counterparty	PROPN
ftr-493	507	2	receiving	receive	VERB
ftr-493	507	3	payments	payment	NOUN
ftr-493	507	4	with	with	ADP
ftr-493	507	5	respect	respect	NOUN
ftr-493	507	6	to	to	ADP
ftr-493	507	7	a	a	DET
ftr-493	507	8	notional	notional	ADJ
ftr-493	507	9	principal	principal	ADJ
ftr-493	507	10	contract	contract	NOUN
ftr-493	507	11	from	from	ADP
ftr-493	507	12	a	a	DET
ftr-493	507	13	u.s	u.s	PROPN
ftr-493	507	14	.	.	PROPN
ftr-493	507	15	counterparty	counterparty	PROPN
ftr-493	507	16	will	will	AUX
ftr-493	507	17	generally	generally	ADV
ftr-493	507	18	be	be	AUX
ftr-493	507	19	considered	consider	VERB
ftr-493	507	20	as	as	ADP
ftr-493	507	21	receiving	receive	VERB
ftr-493	507	22	foreign	foreign	ADJ
ftr-493	507	23	source	source	NOUN
ftr-493	507	24	income7	income7	PROPN
ftr-493	507	25	°	°	PROPN
ftr-493	507	26	not	not	PART
ftr-493	507	27	subject	subject	ADJ
ftr-493	507	28	to	to	ADP
ftr-493	507	29	u.s	u.s	PROPN
ftr-493	507	30	.	.	PROPN
ftr-493	507	31	withholding	withholding	NOUN
ftr-493	507	32	tax.7	tax.7	PROPN
ftr-493	507	33	'	'	PUNCT
ftr-493	507	34	like	like	ADP
ftr-493	507	35	proposed	propose	VERB
ftr-493	507	36	regulations	regulation	NOUN
ftr-493	507	37	section	section	NOUN
ftr-493	507	38	1.446	1.446	NUM
ftr-493	507	39	-	-	SYM
ftr-493	507	40	3	3	NUM
ftr-493	507	41	,	,	PUNCT
ftr-493	507	42	regulations	regulation	NOUN
ftr-493	507	43	section	section	NOUN
ftr-493	507	44	1.863	1.863	NUM
ftr-493	507	45	-	-	SYM
ftr-493	507	46	7	7	NUM
ftr-493	507	47	defines	define	NOUN
ftr-493	507	48	a	a	DET
ftr-493	507	49	notional	notional	ADJ
ftr-493	507	50	principal	principal	ADJ
ftr-493	507	51	contract	contract	NOUN
ftr-493	507	52	as	as	ADP
ftr-493	507	53	"	"	PUNCT
ftr-493	507	54	a	a	DET
ftr-493	507	55	financial	financial	ADJ
ftr-493	507	56	instrument	instrument	NOUN
ftr-493	507	57	that	that	PRON
ftr-493	507	58	provides	provide	VERB
ftr-493	507	59	for	for	ADP
ftr-493	507	60	the	the	DET
ftr-493	507	61	payment	payment	NOUN
ftr-493	507	62	of	of	ADP
ftr-493	507	63	amounts	amount	NOUN
ftr-493	507	64	by	by	ADP
ftr-493	507	65	one	one	NUM
ftr-493	507	66	party	party	NOUN
ftr-493	507	67	to	to	ADP
ftr-493	507	68	another	another	PRON
ftr-493	507	69	at	at	ADP
ftr-493	507	70	specified	specify	VERB
ftr-493	507	71	intervals	interval	NOUN
ftr-493	507	72	calculated	calculate	VERB
ftr-493	507	73	68	68	NUM
ftr-493	507	74	.	.	PUNCT
ftr-493	508	1	scholes	scholes	PROPN
ftr-493	508	2	&	&	CCONJ
ftr-493	508	3	wolfson	wolfson	PROPN
ftr-493	508	4	,	,	PUNCT
ftr-493	508	5	supra	supra	PROPN
ftr-493	508	6	note	note	NOUN
ftr-493	508	7	9	9	NUM
ftr-493	508	8	,	,	PUNCT
ftr-493	508	9	at	at	ADP
ftr-493	508	10	419	419	NUM
ftr-493	508	11	-	-	SYM
ftr-493	508	12	425	425	NUM
ftr-493	508	13	.	.	PUNCT
ftr-493	508	14	69	69	NUM
ftr-493	508	15	.	.	PUNCT
ftr-493	509	1	the	the	DET
ftr-493	509	2	most	most	ADV
ftr-493	509	3	significant	significant	ADJ
ftr-493	509	4	non	non	ADJ
ftr-493	509	5	-	-	ADJ
ftr-493	509	6	tax	tax	ADJ
ftr-493	509	7	differences	difference	NOUN
ftr-493	509	8	between	between	ADP
ftr-493	509	9	entering	enter	VERB
ftr-493	509	10	into	into	ADP
ftr-493	509	11	an	an	DET
ftr-493	509	12	equity	equity	NOUN
ftr-493	509	13	swap	swap	NOUN
ftr-493	509	14	and	and	CCONJ
ftr-493	509	15	acquiring	acquire	VERB
ftr-493	509	16	physical	physical	ADJ
ftr-493	509	17	stocks	stock	NOUN
ftr-493	509	18	are	be	AUX
ftr-493	509	19	that	that	SCONJ
ftr-493	509	20	,	,	PUNCT
ftr-493	509	21	in	in	ADP
ftr-493	509	22	the	the	DET
ftr-493	509	23	former	former	ADJ
ftr-493	509	24	case	case	NOUN
ftr-493	509	25	,	,	PUNCT
ftr-493	509	26	(	(	PUNCT
ftr-493	509	27	i	i	NOUN
ftr-493	509	28	)	)	PUNCT
ftr-493	509	29	the	the	DET
ftr-493	509	30	foreign	foreign	ADJ
ftr-493	509	31	investor	investor	NOUN
ftr-493	509	32	is	be	AUX
ftr-493	509	33	taking	take	VERB
ftr-493	509	34	the	the	DET
ftr-493	509	35	credit	credit	NOUN
ftr-493	509	36	risk	risk	NOUN
ftr-493	509	37	of	of	ADP
ftr-493	509	38	the	the	DET
ftr-493	509	39	swap	swap	NOUN
ftr-493	509	40	counterparty	counterparty	NOUN
ftr-493	509	41	,	,	PUNCT
ftr-493	509	42	which	which	PRON
ftr-493	509	43	,	,	PUNCT
ftr-493	509	44	depending	depend	VERB
ftr-493	509	45	on	on	ADP
ftr-493	509	46	the	the	DET
ftr-493	509	47	circumstances	circumstance	NOUN
ftr-493	509	48	,	,	PUNCT
ftr-493	509	49	may	may	AUX
ftr-493	509	50	or	or	CCONJ
ftr-493	509	51	may	may	AUX
ftr-493	509	52	not	not	PART
ftr-493	509	53	be	be	AUX
ftr-493	509	54	material	material	ADJ
ftr-493	509	55	,	,	PUNCT
ftr-493	509	56	and	and	CCONJ
ftr-493	509	57	(	(	PUNCT
ftr-493	509	58	ii	ii	NOUN
ftr-493	509	59	)	)	PUNCT
ftr-493	509	60	the	the	DET
ftr-493	509	61	foreign	foreign	ADJ
ftr-493	509	62	investor	investor	NOUN
ftr-493	509	63	has	have	VERB
ftr-493	509	64	no	no	DET
ftr-493	509	65	voting	voting	NOUN
ftr-493	509	66	rights	right	NOUN
ftr-493	509	67	vis	vis	X
ftr-493	509	68	-	-	PUNCT
ftr-493	509	69	a	a	X
ftr-493	509	70	-	-	PUNCT
ftr-493	509	71	vis	vis	X
ftr-493	509	72	the	the	DET
ftr-493	509	73	issuers	issuer	NOUN
ftr-493	509	74	of	of	ADP
ftr-493	509	75	the	the	DET
ftr-493	509	76	underlying	underlie	VERB
ftr-493	509	77	stocks	stock	NOUN
ftr-493	509	78	,	,	PUNCT
ftr-493	509	79	which	which	PRON
ftr-493	509	80	may	may	AUX
ftr-493	509	81	have	have	VERB
ftr-493	509	82	ramifications	ramification	NOUN
ftr-493	509	83	with	with	ADP
ftr-493	509	84	respect	respect	NOUN
ftr-493	509	85	to	to	ADP
ftr-493	509	86	corporate	corporate	ADJ
ftr-493	509	87	control	control	NOUN
ftr-493	509	88	issues	issue	NOUN
ftr-493	509	89	.	.	PUNCT
ftr-493	510	1	this	this	PRON
ftr-493	510	2	is	be	AUX
ftr-493	510	3	not	not	PART
ftr-493	510	4	to	to	PART
ftr-493	510	5	say	say	VERB
ftr-493	510	6	,	,	PUNCT
ftr-493	510	7	however	however	ADV
ftr-493	510	8	,	,	PUNCT
ftr-493	510	9	that	that	SCONJ
ftr-493	510	10	entering	enter	VERB
ftr-493	510	11	into	into	ADP
ftr-493	510	12	an	an	DET
ftr-493	510	13	equity	equity	NOUN
ftr-493	510	14	swap	swap	NOUN
ftr-493	510	15	is	be	AUX
ftr-493	510	16	tantamount	tantamount	ADJ
ftr-493	510	17	to	to	ADP
ftr-493	510	18	acquiring	acquire	VERB
ftr-493	510	19	physical	physical	ADJ
ftr-493	510	20	stock	stock	NOUN
ftr-493	510	21	.	.	PUNCT
ftr-493	511	1	see	see	VERB
ftr-493	511	2	discussion	discussion	NOUN
ftr-493	511	3	supra	supra	PROPN
ftr-493	511	4	part	part	NOUN
ftr-493	511	5	ii(c)(2	ii(c)(2	NOUN
ftr-493	511	6	)	)	PUNCT
ftr-493	511	7	.	.	PUNCT
ftr-493	512	1	70	70	NUM
ftr-493	512	2	.	.	PUNCT
ftr-493	513	1	an	an	DET
ftr-493	513	2	exception	exception	NOUN
ftr-493	513	3	applies	apply	VERB
ftr-493	513	4	,	,	PUNCT
ftr-493	513	5	however	however	ADV
ftr-493	513	6	,	,	PUNCT
ftr-493	513	7	to	to	ADP
ftr-493	513	8	notional	notional	ADJ
ftr-493	513	9	principal	principal	ADJ
ftr-493	513	10	contract	contract	NOUN
ftr-493	513	11	income	income	NOUN
ftr-493	513	12	that	that	PRON
ftr-493	513	13	,	,	PUNCT
ftr-493	513	14	under	under	ADP
ftr-493	513	15	principles	principle	NOUN
ftr-493	513	16	similar	similar	ADJ
ftr-493	513	17	to	to	ADP
ftr-493	513	18	those	those	PRON
ftr-493	513	19	set	set	VERB
ftr-493	513	20	forth	forth	ADP
ftr-493	513	21	in	in	ADP
ftr-493	513	22	regulations	regulation	NOUN
ftr-493	513	23	section	section	NOUN
ftr-493	513	24	1.864	1.864	NUM
ftr-493	513	25	-	-	SYM
ftr-493	513	26	4(c	4(c	NUM
ftr-493	513	27	)	)	PUNCT
ftr-493	513	28	,	,	PUNCT
ftr-493	513	29	is	be	AUX
ftr-493	513	30	considered	consider	VERB
ftr-493	513	31	to	to	PART
ftr-493	513	32	arise	arise	VERB
ftr-493	513	33	from	from	ADP
ftr-493	513	34	the	the	DET
ftr-493	513	35	conduct	conduct	NOUN
ftr-493	513	36	of	of	ADP
ftr-493	513	37	a	a	DET
ftr-493	513	38	u.s	u.s	PROPN
ftr-493	513	39	.	.	PROPN
ftr-493	513	40	trade	trade	NOUN
ftr-493	513	41	or	or	CCONJ
ftr-493	513	42	business	business	NOUN
ftr-493	513	43	by	by	ADP
ftr-493	513	44	the	the	DET
ftr-493	513	45	non	non	PROPN
ftr-493	513	46	-	-	ADJ
ftr-493	513	47	u.s	u.s	PROPN
ftr-493	513	48	.	.	PROPN
ftr-493	513	49	person	person	NOUN
ftr-493	513	50	.	.	PUNCT
ftr-493	514	1	such	such	ADJ
ftr-493	514	2	income	income	NOUN
ftr-493	514	3	is	be	AUX
ftr-493	514	4	considered	consider	VERB
ftr-493	514	5	to	to	PART
ftr-493	514	6	be	be	AUX
ftr-493	514	7	effectively	effectively	ADV
ftr-493	514	8	connected	connect	VERB
ftr-493	514	9	u.s	u.s	PROPN
ftr-493	514	10	.	.	PROPN
ftr-493	514	11	source	source	NOUN
ftr-493	514	12	income	income	NOUN
ftr-493	514	13	.	.	PUNCT
ftr-493	515	1	regs	regs	PROPN
ftr-493	515	2	.	.	PUNCT
ftr-493	516	1	§	§	PROPN
ftr-493	516	2	1.863	1.863	NUM
ftr-493	516	3	-	-	PUNCT
ftr-493	516	4	7(b)(3	7(b)(3	NUM
ftr-493	516	5	)	)	PUNCT
ftr-493	516	6	.	.	PUNCT
ftr-493	517	1	nevertheless	nevertheless	ADV
ftr-493	517	2	,	,	PUNCT
ftr-493	517	3	such	such	ADJ
ftr-493	517	4	income	income	NOUN
ftr-493	517	5	would	would	AUX
ftr-493	517	6	still	still	ADV
ftr-493	517	7	not	not	PART
ftr-493	517	8	be	be	AUX
ftr-493	517	9	subject	subject	ADJ
ftr-493	517	10	to	to	ADP
ftr-493	517	11	u.s	u.s	PROPN
ftr-493	517	12	.	.	PROPN
ftr-493	517	13	withholding	withholding	NOUN
ftr-493	517	14	tax	tax	NOUN
ftr-493	517	15	.	.	PUNCT
ftr-493	518	1	irc	irc	PROPN
ftr-493	518	2	§	§	PROPN
ftr-493	518	3	§	§	PROPN
ftr-493	518	4	1441(c)(1	1441(c)(1	NUM
ftr-493	518	5	)	)	PUNCT
ftr-493	518	6	,	,	PUNCT
ftr-493	518	7	1442(a	1442(a	NUM
ftr-493	518	8	)	)	PUNCT
ftr-493	518	9	.	.	PUNCT
ftr-493	519	1	71	71	NUM
ftr-493	519	2	.	.	PUNCT
ftr-493	519	3	sections	section	NOUN
ftr-493	519	4	1441(a	1441(a	NUM
ftr-493	519	5	)	)	PUNCT
ftr-493	519	6	and	and	CCONJ
ftr-493	519	7	1442(a	1442(a	X
ftr-493	519	8	)	)	PUNCT
ftr-493	519	9	apply	apply	VERB
ftr-493	519	10	only	only	ADV
ftr-493	519	11	to	to	ADP
ftr-493	519	12	u.s	u.s	PROPN
ftr-493	519	13	.	.	PROPN
ftr-493	519	14	source	source	NOUN
ftr-493	519	15	fixed	fix	VERB
ftr-493	519	16	or	or	CCONJ
ftr-493	519	17	determinable	determinable	VERB
ftr-493	519	18	annual	annual	ADJ
ftr-493	519	19	or	or	CCONJ
ftr-493	519	20	periodic	periodic	ADJ
ftr-493	519	21	income	income	NOUN
ftr-493	519	22	that	that	PRON
ftr-493	519	23	is	be	AUX
ftr-493	519	24	not	not	PART
ftr-493	519	25	effectively	effectively	ADV
ftr-493	519	26	connected	connect	VERB
ftr-493	519	27	with	with	ADP
ftr-493	519	28	a	a	DET
ftr-493	519	29	u.s	u.s	PROPN
ftr-493	519	30	.	.	PROPN
ftr-493	519	31	trade	trade	NOUN
ftr-493	519	32	or	or	CCONJ
ftr-493	519	33	business	business	NOUN
ftr-493	519	34	.	.	PUNCT
ftr-493	520	1	see	see	VERB
ftr-493	520	2	also	also	ADV
ftr-493	520	3	irc	irc	ADP
ftr-493	520	4	§	§	PROPN
ftr-493	520	5	§	§	PROPN
ftr-493	520	6	871(a	871(a	PROPN
ftr-493	520	7	)	)	PUNCT
ftr-493	520	8	,	,	PUNCT
ftr-493	520	9	881(a	881(a	PROPN
ftr-493	520	10	)	)	PUNCT
ftr-493	520	11	.	.	PUNCT
ftr-493	521	1	[	[	X
ftr-493	521	2	vol	vol	NOUN
ftr-493	521	3	1:5	1:5	NUM
ftr-493	521	4	selected	select	VERB
ftr-493	521	5	issues	issue	NOUN
ftr-493	521	6	in	in	ADP
ftr-493	521	7	the	the	DET
ftr-493	521	8	taxation	taxation	NOUN
ftr-493	521	9	of	of	ADP
ftr-493	521	10	swaps	swap	NOUN
ftr-493	521	11	by	by	ADP
ftr-493	521	12	reference	reference	NOUN
ftr-493	521	13	to	to	ADP
ftr-493	521	14	a	a	DET
ftr-493	521	15	specified	specified	ADJ
ftr-493	521	16	index	index	NOUN
ftr-493	521	17	upon	upon	SCONJ
ftr-493	521	18	a	a	DET
ftr-493	521	19	notional	notional	ADJ
ftr-493	521	20	principal	principal	ADJ
ftr-493	521	21	amount	amount	NOUN
ftr-493	521	22	in	in	ADP
ftr-493	521	23	exchange	exchange	NOUN
ftr-493	521	24	for	for	ADP
ftr-493	521	25	specified	specify	VERB
ftr-493	521	26	consideration	consideration	NOUN
ftr-493	521	27	or	or	CCONJ
ftr-493	521	28	a	a	DET
ftr-493	521	29	promise	promise	NOUN
ftr-493	521	30	to	to	PART
ftr-493	521	31	pay	pay	VERB
ftr-493	521	32	similar	similar	ADJ
ftr-493	521	33	amounts	amount	NOUN
ftr-493	521	34	.	.	PUNCT
ftr-493	521	35	"	"	PUNCT
ftr-493	522	1	while	while	SCONJ
ftr-493	522	2	regulations	regulation	NOUN
ftr-493	522	3	section	section	VERB
ftr-493	522	4	1.863	1.863	NUM
ftr-493	522	5	-	-	SYM
ftr-493	522	6	7	7	NUM
ftr-493	522	7	does	do	AUX
ftr-493	522	8	not	not	PART
ftr-493	522	9	explicitly	explicitly	ADV
ftr-493	522	10	state	state	VERB
ftr-493	522	11	that	that	SCONJ
ftr-493	522	12	an	an	DET
ftr-493	522	13	equity	equity	NOUN
ftr-493	522	14	swap	swap	NOUN
ftr-493	522	15	constitutes	constitute	VERB
ftr-493	522	16	a	a	DET
ftr-493	522	17	notional	notional	ADJ
ftr-493	522	18	principal	principal	ADJ
ftr-493	522	19	contract	contract	NOUN
ftr-493	522	20	,	,	PUNCT
ftr-493	522	21	both	both	CCONJ
ftr-493	522	22	the	the	DET
ftr-493	522	23	plain	plain	ADJ
ftr-493	522	24	language	language	NOUN
ftr-493	522	25	of	of	ADP
ftr-493	522	26	this	this	DET
ftr-493	522	27	definition	definition	NOUN
ftr-493	522	28	and	and	CCONJ
ftr-493	522	29	the	the	DET
ftr-493	522	30	examples	example	NOUN
ftr-493	522	31	given	give	VERB
ftr-493	522	32	in	in	ADP
ftr-493	522	33	proposed	propose	VERB
ftr-493	522	34	regulations	regulation	NOUN
ftr-493	522	35	section	section	NOUN
ftr-493	522	36	1.4463(c)(1)(ii	1.4463(c)(1)(ii	NUM
ftr-493	522	37	)	)	PUNCT
ftr-493	522	38	strongly	strongly	ADV
ftr-493	522	39	suggest	suggest	VERB
ftr-493	522	40	that	that	SCONJ
ftr-493	522	41	income	income	NOUN
ftr-493	522	42	with	with	ADP
ftr-493	522	43	respect	respect	NOUN
ftr-493	522	44	to	to	ADP
ftr-493	522	45	equity	equity	NOUN
ftr-493	522	46	swaps	swap	NOUN
ftr-493	522	47	is	be	AUX
ftr-493	522	48	sourced	source	VERB
ftr-493	522	49	according	accord	VERB
ftr-493	522	50	to	to	ADP
ftr-493	522	51	the	the	DET
ftr-493	522	52	rules	rule	NOUN
ftr-493	522	53	set	set	VERB
ftr-493	522	54	forth	forth	ADP
ftr-493	522	55	in	in	ADP
ftr-493	522	56	regulations	regulation	NOUN
ftr-493	522	57	section	section	NOUN
ftr-493	522	58	1.863	1.863	NUM
ftr-493	522	59	-	-	SYM
ftr-493	522	60	7	7	NUM
ftr-493	522	61	.	.	PUNCT
ftr-493	522	62	accordingly	accordingly	ADV
ftr-493	522	63	,	,	PUNCT
ftr-493	522	64	all	all	DET
ftr-493	522	65	payments	payment	NOUN
ftr-493	522	66	made	make	VERB
ftr-493	522	67	to	to	ADP
ftr-493	522	68	non	non	ADJ
ftr-493	522	69	-	-	ADJ
ftr-493	522	70	u.s	u.s	PROPN
ftr-493	522	71	.	.	PROPN
ftr-493	522	72	counterparties	counterpartie	NOUN
ftr-493	522	73	under	under	ADP
ftr-493	522	74	equity	equity	NOUN
ftr-493	522	75	swaps	swap	NOUN
ftr-493	522	76	,	,	PUNCT
ftr-493	522	77	including	include	VERB
ftr-493	522	78	those	those	PRON
ftr-493	522	79	based	base	VERB
ftr-493	522	80	on	on	ADP
ftr-493	522	81	dividends	dividend	NOUN
ftr-493	522	82	declared	declare	VERB
ftr-493	522	83	and	and	CCONJ
ftr-493	522	84	paid	pay	VERB
ftr-493	522	85	on	on	ADP
ftr-493	522	86	the	the	DET
ftr-493	522	87	underlying	underlie	VERB
ftr-493	522	88	portfolio	portfolio	NOUN
ftr-493	522	89	of	of	ADP
ftr-493	522	90	stocks	stock	NOUN
ftr-493	522	91	,	,	PUNCT
ftr-493	522	92	should	should	AUX
ftr-493	522	93	generally	generally	ADV
ftr-493	522	94	be	be	AUX
ftr-493	522	95	free	free	ADJ
ftr-493	522	96	and	and	CCONJ
ftr-493	522	97	clear	clear	ADJ
ftr-493	522	98	of	of	ADP
ftr-493	522	99	u.s	u.s	PROPN
ftr-493	522	100	.	.	PROPN
ftr-493	522	101	withholding	withhold	VERB
ftr-493	522	102	under	under	ADP
ftr-493	522	103	current	current	ADJ
ftr-493	522	104	law.72	law.72	NOUN
ftr-493	522	105	nevertheless	nevertheless	ADV
ftr-493	522	106	,	,	PUNCT
ftr-493	522	107	the	the	DET
ftr-493	522	108	service	service	NOUN
ftr-493	522	109	is	be	AUX
ftr-493	522	110	clearly	clearly	ADV
ftr-493	522	111	concerned	concern	VERB
ftr-493	522	112	by	by	ADP
ftr-493	522	113	this	this	DET
ftr-493	522	114	conclusion	conclusion	NOUN
ftr-493	522	115	.	.	PUNCT
ftr-493	523	1	in	in	ADP
ftr-493	523	2	the	the	DET
ftr-493	523	3	preambles	preamble	NOUN
ftr-493	523	4	to	to	ADP
ftr-493	523	5	both	both	DET
ftr-493	523	6	proposed	propose	VERB
ftr-493	523	7	regulations	regulation	NOUN
ftr-493	523	8	section	section	VERB
ftr-493	523	9	1.446	1.446	NUM
ftr-493	523	10	-	-	SYM
ftr-493	523	11	3	3	NUM
ftr-493	523	12	and	and	CCONJ
ftr-493	523	13	the	the	DET
ftr-493	523	14	proposed	propose	VERB
ftr-493	523	15	"	"	PUNCT
ftr-493	523	16	securities	security	NOUN
ftr-493	523	17	lending	lending	NOUN
ftr-493	523	18	"	"	PUNCT
ftr-493	523	19	regulations,73	regulations,73	NOUN
ftr-493	523	20	the	the	DET
ftr-493	523	21	service	service	NOUN
ftr-493	523	22	warned	warn	VERB
ftr-493	523	23	that	that	SCONJ
ftr-493	523	24	it	it	PRON
ftr-493	523	25	was	be	AUX
ftr-493	523	26	currently	currently	ADV
ftr-493	523	27	studying	study	VERB
ftr-493	523	28	wvhether	wvhether	ADV
ftr-493	523	29	or	or	CCONJ
ftr-493	523	30	not	not	PART
ftr-493	523	31	payments	payment	NOUN
ftr-493	523	32	on	on	ADP
ftr-493	523	33	equity	equity	NOUN
ftr-493	523	34	(	(	PUNCT
ftr-493	523	35	and	and	CCONJ
ftr-493	523	36	equity	equity	NOUN
ftr-493	523	37	index	index	NOUN
ftr-493	523	38	)	)	PUNCT
ftr-493	523	39	swaps	swap	NOUN
ftr-493	523	40	"	"	PUNCT
ftr-493	523	41	should	should	AUX
ftr-493	523	42	be	be	AUX
ftr-493	523	43	treated	treat	VERB
ftr-493	523	44	in	in	ADP
ftr-493	523	45	the	the	DET
ftr-493	523	46	same	same	ADJ
ftr-493	523	47	manner	manner	NOUN
ftr-493	523	48	as	as	ADP
ftr-493	523	49	interest	interest	NOUN
ftr-493	523	50	rate	rate	NOUN
ftr-493	523	51	and	and	CCONJ
ftr-493	523	52	commodity	commodity	NOUN
ftr-493	523	53	swaps	swap	NOUN
ftr-493	523	54	for	for	ADP
ftr-493	523	55	sourcing	source	VERB
ftr-493	523	56	and	and	CCONJ
ftr-493	523	57	withholding	withhold	VERB
ftr-493	523	58	tax	tax	NOUN
ftr-493	523	59	purposes	purpose	NOUN
ftr-493	523	60	.	.	PUNCT
ftr-493	523	61	"	"	PUNCT
ftr-493	524	1	what	what	PRON
ftr-493	524	2	is	be	AUX
ftr-493	524	3	the	the	DET
ftr-493	524	4	right	right	ADJ
ftr-493	524	5	answer	answer	NOUN
ftr-493	524	6	to	to	ADP
ftr-493	524	7	the	the	DET
ftr-493	524	8	question	question	NOUN
ftr-493	524	9	of	of	ADP
ftr-493	524	10	whether	whether	SCONJ
ftr-493	524	11	dividend	dividend	NOUN
ftr-493	524	12	-	-	PUNCT
ftr-493	524	13	based	base	VERB
ftr-493	524	14	payments	payment	NOUN
ftr-493	524	15	on	on	ADP
ftr-493	524	16	equity	equity	NOUN
ftr-493	524	17	swaps	swap	NOUN
ftr-493	524	18	should	should	AUX
ftr-493	524	19	be	be	AUX
ftr-493	524	20	subject	subject	ADJ
ftr-493	524	21	to	to	ADP
ftr-493	524	22	u.s	u.s	PROPN
ftr-493	524	23	.	.	PROPN
ftr-493	524	24	withholding	withholding	NOUN
ftr-493	524	25	taxes	taxis	NOUN
ftr-493	524	26	?	?	PUNCT
ftr-493	525	1	as	as	SCONJ
ftr-493	525	2	discussed	discuss	VERB
ftr-493	525	3	above	above	ADV
ftr-493	525	4	with	with	ADP
ftr-493	525	5	respect	respect	NOUN
ftr-493	525	6	to	to	ADP
ftr-493	525	7	the	the	DET
ftr-493	525	8	question	question	NOUN
ftr-493	525	9	of	of	ADP
ftr-493	525	10	whether	whether	SCONJ
ftr-493	525	11	entering	enter	VERB
ftr-493	525	12	into	into	ADP
ftr-493	525	13	an	an	DET
ftr-493	525	14	equity	equity	NOUN
ftr-493	525	15	swap	swap	NOUN
ftr-493	525	16	should	should	AUX
ftr-493	525	17	be	be	AUX
ftr-493	525	18	treated	treat	VERB
ftr-493	525	19	as	as	ADP
ftr-493	525	20	a	a	DET
ftr-493	525	21	disposition	disposition	NOUN
ftr-493	525	22	of	of	ADP
ftr-493	525	23	the	the	DET
ftr-493	525	24	underlying	underlie	VERB
ftr-493	525	25	stock	stock	NOUN
ftr-493	525	26	,	,	PUNCT
ftr-493	525	27	an	an	DET
ftr-493	525	28	equity	equity	NOUN
ftr-493	525	29	swap	swap	NOUN
ftr-493	525	30	,	,	PUNCT
ftr-493	525	31	while	while	SCONJ
ftr-493	525	32	similar	similar	ADJ
ftr-493	525	33	to	to	ADP
ftr-493	525	34	and	and	CCONJ
ftr-493	525	35	derivative	derivative	NOUN
ftr-493	525	36	of	of	ADP
ftr-493	525	37	the	the	DET
ftr-493	525	38	underlying	underlie	VERB
ftr-493	525	39	stock	stock	NOUN
ftr-493	525	40	,	,	PUNCT
ftr-493	525	41	is	be	AUX
ftr-493	525	42	not	not	PART
ftr-493	525	43	the	the	DET
ftr-493	525	44	same	same	ADJ
ftr-493	525	45	as	as	ADP
ftr-493	525	46	the	the	DET
ftr-493	525	47	underlying	underlie	VERB
ftr-493	525	48	stock	stock	NOUN
ftr-493	525	49	,	,	PUNCT
ftr-493	525	50	at	at	ADP
ftr-493	525	51	least	least	ADJ
ftr-493	525	52	under	under	ADP
ftr-493	525	53	general	general	ADJ
ftr-493	525	54	tax	tax	NOUN
ftr-493	525	55	principles	principle	NOUN
ftr-493	525	56	.	.	PUNCT
ftr-493	525	57	'	'	PUNCT
ftr-493	526	1	in	in	ADP
ftr-493	526	2	particular	particular	ADJ
ftr-493	526	3	,	,	PUNCT
ftr-493	526	4	the	the	DET
ftr-493	526	5	non	non	PROPN
ftr-493	526	6	-	-	ADJ
ftr-493	526	7	u.s	u.s	PROPN
ftr-493	526	8	.	.	PROPN
ftr-493	526	9	investor	investor	NOUN
ftr-493	526	10	has	have	VERB
ftr-493	526	11	only	only	ADV
ftr-493	526	12	a	a	DET
ftr-493	526	13	contractual	contractual	ADJ
ftr-493	526	14	right	right	NOUN
ftr-493	526	15	to	to	PART
ftr-493	526	16	receive	receive	VERB
ftr-493	526	17	certain	certain	ADJ
ftr-493	526	18	amounts	amount	NOUN
ftr-493	526	19	from	from	ADP
ftr-493	526	20	the	the	DET
ftr-493	526	21	counterparty	counterparty	NOUN
ftr-493	526	22	,	,	PUNCT
ftr-493	526	23	who	who	PRON
ftr-493	526	24	may	may	AUX
ftr-493	526	25	or	or	CCONJ
ftr-493	526	26	may	may	AUX
ftr-493	526	27	not	not	PART
ftr-493	526	28	own	own	VERB
ftr-493	526	29	any	any	PRON
ftr-493	526	30	of	of	ADP
ftr-493	526	31	the	the	DET
ftr-493	526	32	underlying	underlie	VERB
ftr-493	526	33	stocks	stock	NOUN
ftr-493	526	34	.	.	PUNCT
ftr-493	527	1	under	under	ADP
ftr-493	527	2	general	general	ADJ
ftr-493	527	3	principles	principle	NOUN
ftr-493	527	4	such	such	DET
ftr-493	527	5	a	a	DET
ftr-493	527	6	contractual	contractual	ADJ
ftr-493	527	7	claim	claim	NOUN
ftr-493	527	8	would	would	AUX
ftr-493	527	9	not	not	PART
ftr-493	527	10	be	be	AUX
ftr-493	527	11	considered	consider	VERB
ftr-493	527	12	equivalent	equivalent	ADJ
ftr-493	527	13	to	to	ADP
ftr-493	527	14	actual	actual	ADJ
ftr-493	527	15	ownership	ownership	NOUN
ftr-493	527	16	of	of	ADP
ftr-493	527	17	the	the	DET
ftr-493	527	18	underlying	underlie	VERB
ftr-493	527	19	stocks	stock	NOUN
ftr-493	527	20	.	.	PUNCT
ftr-493	528	1	72	72	NUM
ftr-493	528	2	.	.	PUNCT
ftr-493	529	1	any	any	DET
ftr-493	529	2	portion	portion	NOUN
ftr-493	529	3	of	of	ADP
ftr-493	529	4	a	a	DET
ftr-493	529	5	swap	swap	NOUN
ftr-493	529	6	payment	payment	NOUN
ftr-493	529	7	recharacterized	recharacterize	VERB
ftr-493	529	8	as	as	ADP
ftr-493	529	9	interest	interest	NOUN
ftr-493	529	10	pursuant	pursuant	ADJ
ftr-493	529	11	to	to	ADP
ftr-493	529	12	proposed	propose	VERB
ftr-493	529	13	regulations	regulation	NOUN
ftr-493	529	14	sections	section	NOUN
ftr-493	529	15	1.446	1.446	NUM
ftr-493	529	16	-	-	SYM
ftr-493	529	17	3	3	NUM
ftr-493	529	18	(	(	PUNCT
ftr-493	529	19	e)(4)(iii	e)(4)(iii	PROPN
ftr-493	529	20	)	)	PUNCT
ftr-493	529	21	(	(	PUNCT
ftr-493	529	22	swap	swap	VERB
ftr-493	529	23	with	with	ADP
ftr-493	529	24	significant	significant	ADJ
ftr-493	529	25	nonperiodic	nonperiodic	ADJ
ftr-493	529	26	payments	payment	NOUN
ftr-493	529	27	treated	treat	VERB
ftr-493	529	28	as	as	ADP
ftr-493	529	29	containing	contain	VERB
ftr-493	529	30	embedded	embed	VERB
ftr-493	529	31	loan	loan	NOUN
ftr-493	529	32	)	)	PUNCT
ftr-493	529	33	,	,	PUNCT
ftr-493	529	34	1.446	1.446	NUM
ftr-493	529	35	-	-	SYM
ftr-493	529	36	3(e)(4)(ii	3(e)(4)(ii	NUM
ftr-493	529	37	)	)	PUNCT
ftr-493	529	38	(	(	PUNCT
ftr-493	529	39	hedged	hedge	VERB
ftr-493	529	40	swaps	swap	NOUN
ftr-493	529	41	recharacterized	recharacterize	VERB
ftr-493	529	42	according	accord	VERB
ftr-493	529	43	to	to	ADP
ftr-493	529	44	their	their	PRON
ftr-493	529	45	economic	economic	ADJ
ftr-493	529	46	substance	substance	NOUN
ftr-493	529	47	)	)	PUNCT
ftr-493	529	48	or	or	CCONJ
ftr-493	529	49	1.446	1.446	NUM
ftr-493	529	50	-	-	SYM
ftr-493	529	51	3(0	3(0	NUM
ftr-493	529	52	(	(	PUNCT
ftr-493	529	53	the	the	DET
ftr-493	529	54	general	general	ADJ
ftr-493	529	55	anti	anti	ADJ
ftr-493	529	56	-	-	ADJ
ftr-493	529	57	abuse	abuse	ADJ
ftr-493	529	58	rule	rule	NOUN
ftr-493	529	59	)	)	PUNCT
ftr-493	529	60	will	will	AUX
ftr-493	529	61	,	,	PUNCT
ftr-493	529	62	of	of	ADP
ftr-493	529	63	course	course	NOUN
ftr-493	529	64	,	,	PUNCT
ftr-493	529	65	be	be	AUX
ftr-493	529	66	subject	subject	ADJ
ftr-493	529	67	to	to	ADP
ftr-493	529	68	the	the	DET
ftr-493	529	69	general	general	ADJ
ftr-493	529	70	rules	rule	NOUN
ftr-493	529	71	dealing	deal	VERB
ftr-493	529	72	with	with	ADP
ftr-493	529	73	withholding	withholding	NOUN
ftr-493	529	74	on	on	ADP
ftr-493	529	75	interest	interest	NOUN
ftr-493	529	76	payments	payment	NOUN
ftr-493	529	77	.	.	PUNCT
ftr-493	530	1	see	see	VERB
ftr-493	530	2	generally	generally	ADV
ftr-493	530	3	irc	irc	ADP
ftr-493	530	4	§	§	PROPN
ftr-493	530	5	§	§	PROPN
ftr-493	530	6	871(a)(1)(a	871(a)(1)(a	NUM
ftr-493	530	7	)	)	PUNCT
ftr-493	530	8	,	,	PUNCT
ftr-493	530	9	(	(	PUNCT
ftr-493	530	10	a)(1)(c	a)(1)(c	X
ftr-493	530	11	)	)	PUNCT
ftr-493	530	12	,	,	PUNCT
ftr-493	530	13	(	(	PUNCT
ftr-493	530	14	g	g	NOUN
ftr-493	530	15	)	)	PUNCT
ftr-493	530	16	,	,	PUNCT
ftr-493	530	17	(	(	PUNCT
ftr-493	530	18	h	h	NOUN
ftr-493	530	19	)	)	PUNCT
ftr-493	530	20	;	;	PUNCT
ftr-493	530	21	881(a)(1	881(a)(1	NUM
ftr-493	530	22	)	)	PUNCT
ftr-493	530	23	,	,	PUNCT
ftr-493	530	24	(	(	PUNCT
ftr-493	530	25	a)(3	a)(3	NOUN
ftr-493	530	26	)	)	PUNCT
ftr-493	530	27	,	,	PUNCT
ftr-493	530	28	(	(	PUNCT
ftr-493	530	29	c	c	NOUN
ftr-493	530	30	)	)	PUNCT
ftr-493	530	31	;	;	PUNCT
ftr-493	530	32	1441(a	1441(a	NUM
ftr-493	530	33	)	)	PUNCT
ftr-493	530	34	,	,	PUNCT
ftr-493	530	35	(	(	PUNCT
ftr-493	530	36	c)(8	c)(8	X
ftr-493	530	37	)	)	PUNCT
ftr-493	530	38	.	.	PUNCT
ftr-493	531	1	(	(	PUNCT
ftr-493	531	2	c)(9	c)(9	NUM
ftr-493	531	3	)	)	PUNCT
ftr-493	531	4	;	;	PUNCT
ftr-493	531	5	1442(a	1442(a	NUM
ftr-493	531	6	)	)	PUNCT
ftr-493	531	7	.	.	PUNCT
ftr-493	532	1	73	73	NUM
ftr-493	532	2	.	.	PUNCT
ftr-493	533	1	prop	prop	NOUN
ftr-493	533	2	.	.	PUNCT
ftr-493	533	3	regs	regs	PROPN
ftr-493	533	4	.	.	PUNCT
ftr-493	534	1	§	§	PROPN
ftr-493	534	2	§	§	PROPN
ftr-493	534	3	1.861	1.861	NUM
ftr-493	534	4	-	-	PUNCT
ftr-493	534	5	2(a)(7	2(a)(7	PROPN
ftr-493	534	6	)	)	PUNCT
ftr-493	534	7	,	,	PUNCT
ftr-493	534	8	1.861	1.861	NUM
ftr-493	534	9	-	-	SYM
ftr-493	534	10	3(a)(6	3(a)(6	NUM
ftr-493	534	11	)	)	PUNCT
ftr-493	534	12	.	.	PUNCT
ftr-493	535	1	1.871	1.871	NUM
ftr-493	535	2	-	-	SYM
ftr-493	535	3	7(b)(2	7(b)(2	NUM
ftr-493	535	4	)	)	PUNCT
ftr-493	535	5	.	.	PUNCT
ftr-493	536	1	1.881	1.881	NUM
ftr-493	536	2	-	-	SYM
ftr-493	536	3	2(b)(2	2(b)(2	NUM
ftr-493	536	4	)	)	PUNCT
ftr-493	536	5	.	.	PUNCT
ftr-493	537	1	1.8941(c	1.8941(c	NUM
ftr-493	537	2	)	)	PUNCT
ftr-493	537	3	,	,	PUNCT
ftr-493	537	4	1.1441	1.1441	NUM
ftr-493	537	5	-	-	SYM
ftr-493	537	6	2(a)(1	2(a)(1	NUM
ftr-493	537	7	)	)	PUNCT
ftr-493	537	8	,	,	PUNCT
ftr-493	537	9	57	57	NUM
ftr-493	537	10	fed	feed	VERB
ftr-493	537	11	.	.	PUNCT
ftr-493	538	1	reg	reg	PROPN
ftr-493	538	2	.	.	PUNCT
ftr-493	539	1	860	860	NUM
ftr-493	539	2	(	(	PUNCT
ftr-493	539	3	1992	1992	NUM
ftr-493	539	4	)	)	PUNCT
ftr-493	539	5	.	.	PUNCT
ftr-493	540	1	74	74	NUM
ftr-493	540	2	.	.	PUNCT
ftr-493	541	1	i	i	PRON
ftr-493	541	2	am	be	AUX
ftr-493	541	3	assuming	assume	VERB
ftr-493	541	4	that	that	SCONJ
ftr-493	541	5	the	the	DET
ftr-493	541	6	counterparty	counterparty	NOUN
ftr-493	541	7	on	on	ADP
ftr-493	541	8	the	the	DET
ftr-493	541	9	swap	swap	NOUN
ftr-493	541	10	is	be	AUX
ftr-493	541	11	not	not	PART
ftr-493	541	12	an	an	DET
ftr-493	541	13	issuer	issuer	NOUN
ftr-493	541	14	with	with	ADP
ftr-493	541	15	respect	respect	NOUN
ftr-493	541	16	to	to	ADP
ftr-493	541	17	the	the	DET
ftr-493	541	18	underlying	underlie	VERB
ftr-493	541	19	stock	stock	NOUN
ftr-493	541	20	(	(	PUNCT
ftr-493	541	21	i.e.	i.e.	X
ftr-493	541	22	,	,	PUNCT
ftr-493	541	23	we	we	PRON
ftr-493	541	24	are	be	AUX
ftr-493	541	25	not	not	PART
ftr-493	541	26	talking	talk	VERB
ftr-493	541	27	about	about	ADP
ftr-493	541	28	ford	ford	NOUN
ftr-493	541	29	.	.	PUNCT
ftr-493	542	1	for	for	ADP
ftr-493	542	2	example	example	NOUN
ftr-493	542	3	,	,	PUNCT
ftr-493	542	4	entering	enter	VERB
ftr-493	542	5	into	into	ADP
ftr-493	542	6	an	an	DET
ftr-493	542	7	equity	equity	NOUN
ftr-493	542	8	swap	swap	NOUN
ftr-493	542	9	with	with	ADP
ftr-493	542	10	respect	respect	NOUN
ftr-493	542	11	to	to	ADP
ftr-493	542	12	its	its	PRON
ftr-493	542	13	own	own	ADJ
ftr-493	542	14	stock	stock	NOUN
ftr-493	542	15	)	)	PUNCT
ftr-493	542	16	.	.	PUNCT
ftr-493	543	1	such	such	DET
ftr-493	543	2	a	a	DET
ftr-493	543	3	situation	situation	NOUN
ftr-493	543	4	would	would	AUX
ftr-493	543	5	probably	probably	ADV
ftr-493	543	6	result	result	VERB
ftr-493	543	7	in	in	ADP
ftr-493	543	8	a	a	DET
ftr-493	543	9	different	different	ADJ
ftr-493	543	10	conclusion	conclusion	NOUN
ftr-493	543	11	,	,	PUNCT
ftr-493	543	12	since	since	SCONJ
ftr-493	543	13	it	it	PRON
ftr-493	543	14	would	would	AUX
ftr-493	543	15	open	open	VERB
ftr-493	543	16	up	up	ADP
ftr-493	543	17	all	all	DET
ftr-493	543	18	sorts	sort	NOUN
ftr-493	543	19	of	of	ADP
ftr-493	543	20	possibilities	possibility	NOUN
ftr-493	543	21	for	for	ADP
ftr-493	543	22	creating	create	VERB
ftr-493	543	23	"	"	PUNCT
ftr-493	543	24	homemade	homemade	ADJ
ftr-493	543	25	corporation	corporation	NOUN
ftr-493	543	26	integration	integration	NOUN
ftr-493	543	27	.	.	PUNCT
ftr-493	543	28	"	"	PUNCT
ftr-493	544	1	query	query	NOUN
ftr-493	544	2	,	,	PUNCT
ftr-493	544	3	however	however	ADV
ftr-493	544	4	,	,	PUNCT
ftr-493	544	5	whether	whether	SCONJ
ftr-493	544	6	two	two	NUM
ftr-493	544	7	different	different	ADJ
ftr-493	544	8	corporations	corporation	NOUN
ftr-493	544	9	,	,	PUNCT
ftr-493	544	10	both	both	PRON
ftr-493	544	11	having	have	VERB
ftr-493	544	12	similar	similar	ADJ
ftr-493	544	13	economic	economic	ADJ
ftr-493	544	14	prospects	prospect	NOUN
ftr-493	544	15	(	(	PUNCT
ftr-493	544	16	i.e.	i.e.	X
ftr-493	544	17	,	,	PUNCT
ftr-493	544	18	similar	similar	ADJ
ftr-493	544	19	business	business	NOUN
ftr-493	544	20	opportunities	opportunity	NOUN
ftr-493	544	21	.	.	PUNCT
ftr-493	545	1	similar	similar	ADJ
ftr-493	545	2	financial	financial	ADJ
ftr-493	545	3	and	and	CCONJ
ftr-493	545	4	operational	operational	ADJ
ftr-493	545	5	leverage	leverage	NOUN
ftr-493	545	6	,	,	PUNCT
ftr-493	545	7	similar	similar	ADJ
ftr-493	545	8	dividend	dividend	NOUN
ftr-493	545	9	payout	payout	NOUN
ftr-493	545	10	ratios	ratio	NOUN
ftr-493	545	11	,	,	PUNCT
ftr-493	545	12	etc	etc	X
ftr-493	545	13	.	.	X
ftr-493	545	14	)	)	PUNCT
ftr-493	545	15	,	,	PUNCT
ftr-493	545	16	should	should	AUX
ftr-493	545	17	be	be	AUX
ftr-493	545	18	able	able	ADJ
ftr-493	545	19	to	to	PART
ftr-493	545	20	enter	enter	VERB
ftr-493	545	21	into	into	ADP
ftr-493	545	22	equity	equity	NOUN
ftr-493	545	23	swaps	swap	NOUN
ftr-493	545	24	with	with	ADP
ftr-493	545	25	third	third	ADJ
ftr-493	545	26	parties	party	NOUN
ftr-493	545	27	on	on	ADP
ftr-493	545	28	each	each	DET
ftr-493	545	29	other	other	ADJ
ftr-493	545	30	's	's	PART
ftr-493	545	31	stock	stock	NOUN
ftr-493	545	32	and	and	CCONJ
ftr-493	545	33	deduct	deduct	VERB
ftr-493	545	34	the	the	DET
ftr-493	545	35	payments	payment	NOUN
ftr-493	545	36	.	.	PUNCT
ftr-493	546	1	1993	1993	NUM
ftr-493	546	2	]	]	PUNCT
ftr-493	546	3	florida	florida	PROPN
ftr-493	546	4	tax	tax	PROPN
ftr-493	546	5	review	review	NOUN
ftr-493	546	6	nevertheless	nevertheless	ADV
ftr-493	546	7	,	,	PUNCT
ftr-493	546	8	one	one	PRON
ftr-493	546	9	might	might	AUX
ftr-493	546	10	argue	argue	VERB
ftr-493	546	11	that	that	SCONJ
ftr-493	546	12	this	this	PRON
ftr-493	546	13	is	be	AUX
ftr-493	546	14	an	an	DET
ftr-493	546	15	overly	overly	ADV
ftr-493	546	16	formalistic	formalistic	ADJ
ftr-493	546	17	view	view	NOUN
ftr-493	546	18	of	of	ADP
ftr-493	546	19	the	the	DET
ftr-493	546	20	issue	issue	NOUN
ftr-493	546	21	.	.	PUNCT
ftr-493	547	1	after	after	ADV
ftr-493	547	2	all	all	ADV
ftr-493	547	3	,	,	PUNCT
ftr-493	547	4	if	if	SCONJ
ftr-493	547	5	,	,	PUNCT
ftr-493	547	6	since	since	SCONJ
ftr-493	547	7	equity	equity	NOUN
ftr-493	547	8	swaps	swap	NOUN
ftr-493	547	9	and	and	CCONJ
ftr-493	547	10	physical	physical	ADJ
ftr-493	547	11	stocks	stock	NOUN
ftr-493	547	12	are	be	AUX
ftr-493	547	13	(	(	PUNCT
ftr-493	547	14	not	not	PART
ftr-493	547	15	quite	quite	ADV
ftr-493	547	16	perfect	perfect	ADJ
ftr-493	547	17	)	)	PUNCT
ftr-493	547	18	economic	economic	ADJ
ftr-493	547	19	substitutes	substitute	NOUN
ftr-493	547	20	for	for	ADP
ftr-493	547	21	each	each	DET
ftr-493	547	22	other,75	other,75	NOUN
ftr-493	547	23	and	and	CCONJ
ftr-493	547	24	the	the	DET
ftr-493	547	25	receipt	receipt	NOUN
ftr-493	547	26	of	of	ADP
ftr-493	547	27	dividend	dividend	NOUN
ftr-493	547	28	-	-	PUNCT
ftr-493	547	29	based	base	VERB
ftr-493	547	30	payments	payment	NOUN
ftr-493	547	31	on	on	ADP
ftr-493	547	32	equity	equity	NOUN
ftr-493	547	33	swaps	swap	NOUN
ftr-493	547	34	substitute	substitute	NOUN
ftr-493	547	35	for	for	ADP
ftr-493	547	36	the	the	DET
ftr-493	547	37	receipt	receipt	NOUN
ftr-493	547	38	of	of	ADP
ftr-493	547	39	dividends	dividend	NOUN
ftr-493	547	40	on	on	ADP
ftr-493	547	41	the	the	DET
ftr-493	547	42	underlying	underlie	VERB
ftr-493	547	43	stocks	stock	NOUN
ftr-493	547	44	,	,	PUNCT
ftr-493	547	45	perhaps	perhaps	ADV
ftr-493	547	46	dividend	dividend	NOUN
ftr-493	547	47	-	-	PUNCT
ftr-493	547	48	based	base	VERB
ftr-493	547	49	swap	swap	NOUN
ftr-493	547	50	payments	payment	NOUN
ftr-493	547	51	and	and	CCONJ
ftr-493	547	52	actual	actual	ADJ
ftr-493	547	53	dividends	dividend	NOUN
ftr-493	547	54	should	should	AUX
ftr-493	547	55	be	be	AUX
ftr-493	547	56	taxed	tax	VERB
ftr-493	547	57	in	in	ADP
ftr-493	547	58	the	the	DET
ftr-493	547	59	same	same	ADJ
ftr-493	547	60	manner	manner	NOUN
ftr-493	547	61	.	.	PUNCT
ftr-493	548	1	this	this	DET
ftr-493	548	2	approach	approach	NOUN
ftr-493	548	3	finds	find	VERB
ftr-493	548	4	some	some	DET
ftr-493	548	5	support	support	NOUN
ftr-493	548	6	in	in	ADP
ftr-493	548	7	other	other	ADJ
ftr-493	548	8	areas	area	NOUN
ftr-493	548	9	of	of	ADP
ftr-493	548	10	the	the	DET
ftr-493	548	11	code	code	NOUN
ftr-493	548	12	.	.	PUNCT
ftr-493	549	1	for	for	ADP
ftr-493	549	2	example	example	NOUN
ftr-493	549	3	,	,	PUNCT
ftr-493	549	4	in	in	ADP
ftr-493	549	5	the	the	DET
ftr-493	549	6	regulations	regulation	NOUN
ftr-493	549	7	under	under	ADP
ftr-493	549	8	section	section	NOUN
ftr-493	549	9	1504(a)(5)(a	1504(a)(5)(a	NUM
ftr-493	549	10	)	)	PUNCT
ftr-493	549	11	,	,	PUNCT
ftr-493	549	12	a	a	DET
ftr-493	549	13	broad	broad	ADJ
ftr-493	549	14	range	range	NOUN
ftr-493	549	15	of	of	ADP
ftr-493	549	16	financial	financial	ADJ
ftr-493	549	17	instruments	instrument	NOUN
ftr-493	549	18	,	,	PUNCT
ftr-493	549	19	including	include	VERB
ftr-493	549	20	cash	cash	NOUN
ftr-493	549	21	settlement	settlement	NOUN
ftr-493	549	22	options	option	NOUN
ftr-493	549	23	,	,	PUNCT
ftr-493	549	24	are	be	AUX
ftr-493	549	25	treated	treat	VERB
ftr-493	549	26	,	,	PUNCT
ftr-493	549	27	under	under	ADP
ftr-493	549	28	certain	certain	ADJ
ftr-493	549	29	circumstances	circumstance	NOUN
ftr-493	549	30	,	,	PUNCT
ftr-493	549	31	as	as	SCONJ
ftr-493	549	32	if	if	SCONJ
ftr-493	549	33	they	they	PRON
ftr-493	549	34	were	be	AUX
ftr-493	549	35	stock	stock	NOUN
ftr-493	549	36	for	for	ADP
ftr-493	549	37	purposes	purpose	NOUN
ftr-493	549	38	of	of	ADP
ftr-493	549	39	determining	determine	VERB
ftr-493	549	40	whether	whether	SCONJ
ftr-493	549	41	the	the	DET
ftr-493	549	42	stock	stock	NOUN
ftr-493	549	43	affiliation	affiliation	NOUN
ftr-493	549	44	rules	rule	NOUN
ftr-493	549	45	of	of	ADP
ftr-493	549	46	section	section	NOUN
ftr-493	549	47	1504(a	1504(a	NUM
ftr-493	549	48	)	)	PUNCT
ftr-493	549	49	are	be	AUX
ftr-493	549	50	satisfied	satisfied	ADJ
ftr-493	549	51	,	,	PUNCT
ftr-493	549	52	even	even	ADV
ftr-493	549	53	though	though	ADV
ftr-493	549	54	,	,	PUNCT
ftr-493	549	55	in	in	ADP
ftr-493	549	56	general	general	ADJ
ftr-493	549	57	,	,	PUNCT
ftr-493	549	58	such	such	ADJ
ftr-493	549	59	instruments	instrument	NOUN
ftr-493	549	60	would	would	AUX
ftr-493	549	61	not	not	PART
ftr-493	549	62	be	be	AUX
ftr-493	549	63	treated	treat	VERB
ftr-493	549	64	as	as	ADP
ftr-493	549	65	stock	stock	NOUN
ftr-493	549	66	for	for	ADP
ftr-493	549	67	tax	tax	NOUN
ftr-493	549	68	purposes	purpose	NOUN
ftr-493	549	69	.	.	PUNCT
ftr-493	550	1	6	6	NUM
ftr-493	550	2	similarly	similarly	ADV
ftr-493	550	3	,	,	PUNCT
ftr-493	550	4	the	the	DET
ftr-493	550	5	option	option	NOUN
ftr-493	550	6	attribution	attribution	NOUN
ftr-493	550	7	rules	rule	NOUN
ftr-493	550	8	of	of	ADP
ftr-493	550	9	sections	section	NOUN
ftr-493	550	10	382(l)(3	382(l)(3	NUM
ftr-493	550	11	)	)	PUNCT
ftr-493	550	12	and	and	CCONJ
ftr-493	550	13	382(k)(6)(b	382(k)(6)(b	NUM
ftr-493	550	14	)	)	PUNCT
ftr-493	550	15	,	,	PUNCT
ftr-493	550	16	and	and	CCONJ
ftr-493	550	17	the	the	DET
ftr-493	550	18	regulations	regulation	NOUN
ftr-493	550	19	promulgated	promulgate	VERB
ftr-493	550	20	thereunder	thereunder	ADV
ftr-493	550	21	,	,	PUNCT
ftr-493	550	22	in	in	ADP
ftr-493	550	23	essence	essence	NOUN
ftr-493	550	24	,	,	PUNCT
ftr-493	550	25	treat	treat	VERB
ftr-493	550	26	certain	certain	ADJ
ftr-493	550	27	equity	equity	NOUN
ftr-493	550	28	-	-	PUNCT
ftr-493	550	29	flavored	flavor	VERB
ftr-493	550	30	financial	financial	ADJ
ftr-493	550	31	instruments	instrument	NOUN
ftr-493	550	32	as	as	SCONJ
ftr-493	550	33	if	if	SCONJ
ftr-493	550	34	they	they	PRON
ftr-493	550	35	constituted	constitute	VERB
ftr-493	550	36	stock	stock	NOUN
ftr-493	550	37	for	for	ADP
ftr-493	550	38	purposes	purpose	NOUN
ftr-493	550	39	of	of	ADP
ftr-493	550	40	the	the	DET
ftr-493	550	41	section	section	NOUN
ftr-493	550	42	382	382	NUM
ftr-493	550	43	ownership	ownership	NOUN
ftr-493	550	44	rules	rule	NOUN
ftr-493	550	45	under	under	ADP
ftr-493	550	46	certain	certain	ADJ
ftr-493	550	47	circumstances.77	circumstances.77	NOUN
ftr-493	550	48	finally	finally	ADV
ftr-493	550	49	,	,	PUNCT
ftr-493	550	50	the	the	DET
ftr-493	550	51	proposed	propose	VERB
ftr-493	550	52	securities	security	NOUN
ftr-493	550	53	lending	lending	NOUN
ftr-493	550	54	regulations	regulation	NOUN
ftr-493	550	55	themselves	themselves	PRON
ftr-493	550	56	apply	apply	VERB
ftr-493	550	57	"	"	PUNCT
ftr-493	550	58	look	look	VERB
ftr-493	550	59	through	through	ADP
ftr-493	550	60	treatment	treatment	NOUN
ftr-493	550	61	"	"	PUNCT
ftr-493	550	62	for	for	ADP
ftr-493	550	63	withholding	withhold	VERB
ftr-493	550	64	tax	tax	NOUN
ftr-493	550	65	purposes	purpose	NOUN
ftr-493	550	66	to	to	ADP
ftr-493	550	67	payments	payment	NOUN
ftr-493	550	68	in	in	ADP
ftr-493	550	69	lieu	lieu	NOUN
ftr-493	550	70	of	of	ADP
ftr-493	550	71	interest	interest	NOUN
ftr-493	550	72	and	and	CCONJ
ftr-493	550	73	dividends	dividend	NOUN
ftr-493	550	74	received	receive	VERB
ftr-493	550	75	by	by	ADP
ftr-493	550	76	non	non	ADJ
ftr-493	550	77	-	-	ADJ
ftr-493	550	78	u.s	u.s	ADJ
ftr-493	550	79	.	.	PROPN
ftr-493	550	80	persons	person	NOUN
ftr-493	550	81	in	in	ADP
ftr-493	550	82	securities	security	NOUN
ftr-493	550	83	lending	lending	NOUN
ftr-493	550	84	transactions	transaction	NOUN
ftr-493	550	85	.	.	PUNCT
ftr-493	551	1	on	on	ADP
ftr-493	551	2	the	the	DET
ftr-493	551	3	other	other	ADJ
ftr-493	551	4	hand	hand	NOUN
ftr-493	551	5	,	,	PUNCT
ftr-493	551	6	this	this	DET
ftr-493	551	7	approach	approach	NOUN
ftr-493	551	8	is	be	AUX
ftr-493	551	9	more	more	ADV
ftr-493	551	10	the	the	DET
ftr-493	551	11	exception	exception	NOUN
ftr-493	551	12	than	than	ADP
ftr-493	551	13	the	the	DET
ftr-493	551	14	rule	rule	NOUN
ftr-493	551	15	in	in	ADP
ftr-493	551	16	the	the	DET
ftr-493	551	17	tax	tax	NOUN
ftr-493	551	18	law	law	NOUN
ftr-493	551	19	.	.	PUNCT
ftr-493	552	1	thus	thus	ADV
ftr-493	552	2	,	,	PUNCT
ftr-493	552	3	even	even	ADV
ftr-493	552	4	a	a	DET
ftr-493	552	5	relatively	relatively	ADV
ftr-493	552	6	deeply	deeply	ADV
ftr-493	552	7	-	-	PUNCT
ftr-493	552	8	in	in	ADP
ftr-493	552	9	-	-	PUNCT
ftr-493	552	10	the	the	DET
ftr-493	552	11	-	-	PUNCT
ftr-493	552	12	money	money	NOUN
ftr-493	552	13	option	option	NOUN
ftr-493	552	14	on	on	ADP
ftr-493	552	15	a	a	DET
ftr-493	552	16	growth	growth	NOUN
ftr-493	552	17	stock	stock	NOUN
ftr-493	552	18	(	(	PUNCT
ftr-493	552	19	i.e.	i.e.	X
ftr-493	552	20	,	,	PUNCT
ftr-493	552	21	one	one	NUM
ftr-493	552	22	with	with	ADP
ftr-493	552	23	respect	respect	NOUN
ftr-493	552	24	to	to	ADP
ftr-493	552	25	which	which	PRON
ftr-493	552	26	the	the	DET
ftr-493	552	27	investor	investor	NOUN
ftr-493	552	28	's	's	PART
ftr-493	552	29	return	return	NOUN
ftr-493	552	30	is	be	AUX
ftr-493	552	31	anticipated	anticipate	VERB
ftr-493	552	32	to	to	PART
ftr-493	552	33	come	come	VERB
ftr-493	552	34	in	in	ADP
ftr-493	552	35	the	the	DET
ftr-493	552	36	form	form	NOUN
ftr-493	552	37	of	of	ADP
ftr-493	552	38	price	price	NOUN
ftr-493	552	39	appreciation	appreciation	NOUN
ftr-493	552	40	,	,	PUNCT
ftr-493	552	41	rather	rather	ADV
ftr-493	552	42	than	than	ADP
ftr-493	552	43	dividend	dividend	NOUN
ftr-493	552	44	payments	payment	NOUN
ftr-493	552	45	)	)	PUNCT
ftr-493	552	46	is	be	AUX
ftr-493	552	47	generally	generally	ADV
ftr-493	552	48	not	not	PART
ftr-493	552	49	treated	treat	VERB
ftr-493	552	50	as	as	ADP
ftr-493	552	51	equivalent	equivalent	ADJ
ftr-493	552	52	to	to	ADP
ftr-493	552	53	the	the	DET
ftr-493	552	54	underlying	underlie	VERB
ftr-493	552	55	stock	stock	NOUN
ftr-493	552	56	for	for	ADP
ftr-493	552	57	tax	tax	NOUN
ftr-493	552	58	purposes	purpose	NOUN
ftr-493	552	59	,	,	PUNCT
ftr-493	552	60	even	even	ADV
ftr-493	552	61	though	though	ADV
ftr-493	552	62	,	,	PUNCT
ftr-493	552	63	for	for	ADP
ftr-493	552	64	all	all	DET
ftr-493	552	65	practical	practical	ADJ
ftr-493	552	66	purposes	purpose	NOUN
ftr-493	552	67	,	,	PUNCT
ftr-493	552	68	the	the	DET
ftr-493	552	69	option	option	NOUN
ftr-493	552	70	may	may	AUX
ftr-493	552	71	be	be	AUX
ftr-493	552	72	an	an	DET
ftr-493	552	73	economically	economically	ADV
ftr-493	552	74	perfect	perfect	ADJ
ftr-493	552	75	substitute	substitute	NOUN
ftr-493	552	76	for	for	ADP
ftr-493	552	77	the	the	DET
ftr-493	552	78	physical	physical	ADJ
ftr-493	552	79	stock	stock	NOUN
ftr-493	552	80	.	.	PUNCT
ftr-493	553	1	similarly	similarly	ADV
ftr-493	553	2	,	,	PUNCT
ftr-493	553	3	absent	absent	ADJ
ftr-493	553	4	special	special	ADJ
ftr-493	553	5	circumstances	circumstance	NOUN
ftr-493	553	6	,	,	PUNCT
ftr-493	553	7	a	a	DET
ftr-493	553	8	note	note	NOUN
ftr-493	553	9	issued	issue	VERB
ftr-493	553	10	by	by	ADP
ftr-493	553	11	the	the	DET
ftr-493	553	12	buyer	buyer	NOUN
ftr-493	553	13	to	to	ADP
ftr-493	553	14	the	the	DET
ftr-493	553	15	seller	seller	NOUN
ftr-493	553	16	with	with	ADP
ftr-493	553	17	respect	respect	NOUN
ftr-493	553	18	to	to	ADP
ftr-493	553	19	a	a	DET
ftr-493	553	20	sale	sale	NOUN
ftr-493	553	21	of	of	ADP
ftr-493	553	22	a	a	DET
ftr-493	553	23	business	business	NOUN
ftr-493	553	24	is	be	AUX
ftr-493	553	25	not	not	PART
ftr-493	553	26	generally	generally	ADV
ftr-493	553	27	considered	consider	VERB
ftr-493	553	28	to	to	PART
ftr-493	553	29	be	be	AUX
ftr-493	553	30	a	a	DET
ftr-493	553	31	continuing	continue	VERB
ftr-493	553	32	equity	equity	NOUN
ftr-493	553	33	interest	interest	NOUN
ftr-493	553	34	in	in	ADP
ftr-493	553	35	that	that	DET
ftr-493	553	36	business	business	NOUN
ftr-493	553	37	,	,	PUNCT
ftr-493	553	38	and	and	CCONJ
ftr-493	553	39	payments	payment	NOUN
ftr-493	553	40	on	on	ADP
ftr-493	553	41	the	the	DET
ftr-493	553	42	note	note	NOUN
ftr-493	553	43	are	be	AUX
ftr-493	553	44	treated	treat	VERB
ftr-493	553	45	as	as	ADP
ftr-493	553	46	interest	interest	NOUN
ftr-493	553	47	,	,	PUNCT
ftr-493	553	48	even	even	ADV
ftr-493	553	49	though	though	SCONJ
ftr-493	553	50	such	such	ADJ
ftr-493	553	51	payments	payment	NOUN
ftr-493	553	52	may	may	AUX
ftr-493	553	53	be	be	AUX
ftr-493	553	54	based	base	VERB
ftr-493	553	55	on	on	ADP
ftr-493	553	56	profits	profit	NOUN
ftr-493	553	57	earned	earn	VERB
ftr-493	553	58	by	by	ADP
ftr-493	553	59	the	the	DET
ftr-493	553	60	business	business	NOUN
ftr-493	553	61	.	.	PUNCT
ftr-493	554	1	the	the	DET
ftr-493	554	2	same	same	ADJ
ftr-493	554	3	might	might	AUX
ftr-493	554	4	be	be	AUX
ftr-493	554	5	said	say	VERB
ftr-493	554	6	of	of	ADP
ftr-493	554	7	money	money	NOUN
ftr-493	554	8	market	market	NOUN
ftr-493	554	9	preferred	prefer	VERB
ftr-493	554	10	stock	stock	NOUN
ftr-493	554	11	:	:	PUNCT
ftr-493	554	12	even	even	ADV
ftr-493	554	13	though	though	SCONJ
ftr-493	554	14	payments	payment	NOUN
ftr-493	554	15	thereon	thereon	NOUN
ftr-493	554	16	may	may	AUX
ftr-493	554	17	be	be	AUX
ftr-493	554	18	based	base	VERB
ftr-493	554	19	on	on	ADP
ftr-493	554	20	prevailing	prevail	VERB
ftr-493	554	21	money	money	NOUN
ftr-493	554	22	market	market	NOUN
ftr-493	554	23	interest	interest	NOUN
ftr-493	554	24	rates	rate	NOUN
ftr-493	554	25	,	,	PUNCT
ftr-493	554	26	such	such	ADJ
ftr-493	554	27	stock	stock	NOUN
ftr-493	554	28	is	be	AUX
ftr-493	554	29	generally	generally	ADV
ftr-493	554	30	considered	consider	VERB
ftr-493	554	31	to	to	PART
ftr-493	554	32	be	be	AUX
ftr-493	554	33	equity	equity	NOUN
ftr-493	554	34	and	and	CCONJ
ftr-493	554	35	payments	payment	NOUN
ftr-493	554	36	thereon	thereon	NOUN
ftr-493	554	37	are	be	AUX
ftr-493	554	38	75	75	NUM
ftr-493	554	39	.	.	PUNCT
ftr-493	555	1	see	see	VERB
ftr-493	555	2	supra	supra	PROPN
ftr-493	555	3	note	note	PROPN
ftr-493	555	4	69	69	NUM
ftr-493	555	5	.	.	PUNCT
ftr-493	556	1	76	76	NUM
ftr-493	556	2	.	.	PUNCT
ftr-493	557	1	regs	regs	PROPN
ftr-493	557	2	.	.	PUNCT
ftr-493	558	1	§	§	PROPN
ftr-493	558	2	1.1504	1.1504	NUM
ftr-493	558	3	-	-	SYM
ftr-493	558	4	4	4	NUM
ftr-493	558	5	.	.	PUNCT
ftr-493	559	1	these	these	DET
ftr-493	559	2	regulations	regulation	NOUN
ftr-493	559	3	,	,	PUNCT
ftr-493	559	4	of	of	ADP
ftr-493	559	5	course	course	NOUN
ftr-493	559	6	,	,	PUNCT
ftr-493	559	7	were	be	AUX
ftr-493	559	8	promulgated	promulgate	VERB
ftr-493	559	9	pursuant	pursuant	ADJ
ftr-493	559	10	to	to	ADP
ftr-493	559	11	an	an	DET
ftr-493	559	12	explicit	explicit	ADJ
ftr-493	559	13	statutory	statutory	ADJ
ftr-493	559	14	grant	grant	NOUN
ftr-493	559	15	of	of	ADP
ftr-493	559	16	authority	authority	NOUN
ftr-493	559	17	to	to	PART
ftr-493	559	18	"	"	PUNCT
ftr-493	559	19	treat	treat	VERB
ftr-493	559	20	warrants	warrant	NOUN
ftr-493	559	21	,	,	PUNCT
ftr-493	559	22	obligations	obligation	NOUN
ftr-493	559	23	convertible	convertible	ADJ
ftr-493	559	24	into	into	ADP
ftr-493	559	25	stock	stock	NOUN
ftr-493	559	26	,	,	PUNCT
ftr-493	559	27	and	and	CCONJ
ftr-493	559	28	other	other	ADJ
ftr-493	559	29	similar	similar	ADJ
ftr-493	559	30	interests	interest	NOUN
ftr-493	559	31	as	as	ADP
ftr-493	559	32	stock	stock	NOUN
ftr-493	559	33	.	.	PUNCT
ftr-493	559	34	"	"	PUNCT
ftr-493	560	1	irc	irc	PROPN
ftr-493	560	2	§	§	PROPN
ftr-493	560	3	1504(a)(5)(a	1504(a)(5)(a	NUM
ftr-493	560	4	)	)	PUNCT
ftr-493	560	5	.	.	PUNCT
ftr-493	561	1	it	it	PRON
ftr-493	561	2	is	be	AUX
ftr-493	561	3	also	also	ADV
ftr-493	561	4	perhaps	perhaps	ADV
ftr-493	561	5	significant	significant	ADJ
ftr-493	561	6	that	that	SCONJ
ftr-493	561	7	options	option	NOUN
ftr-493	561	8	issued	issue	VERB
ftr-493	561	9	between	between	ADP
ftr-493	561	10	persons	person	NOUN
ftr-493	561	11	that	that	PRON
ftr-493	561	12	are	be	AUX
ftr-493	561	13	unrelated	unrelated	ADJ
ftr-493	561	14	to	to	ADP
ftr-493	561	15	the	the	DET
ftr-493	561	16	affiliated	affiliated	ADJ
ftr-493	561	17	group	group	NOUN
ftr-493	561	18	of	of	ADP
ftr-493	561	19	which	which	PRON
ftr-493	561	20	the	the	DET
ftr-493	561	21	issuing	issue	VERB
ftr-493	561	22	corporation	corporation	NOUN
ftr-493	561	23	is	be	AUX
ftr-493	561	24	a	a	DET
ftr-493	561	25	member	member	NOUN
ftr-493	561	26	are	be	AUX
ftr-493	561	27	not	not	PART
ftr-493	561	28	generally	generally	ADV
ftr-493	561	29	subject	subject	ADJ
ftr-493	561	30	to	to	ADP
ftr-493	561	31	these	these	DET
ftr-493	561	32	rules	rule	NOUN
ftr-493	561	33	.	.	PUNCT
ftr-493	562	1	see	see	VERB
ftr-493	562	2	regs	reg	NOUN
ftr-493	562	3	.	.	PUNCT
ftr-493	563	1	§	§	PROPN
ftr-493	563	2	1.1504	1.1504	NUM
ftr-493	563	3	-	-	SYM
ftr-493	563	4	4(c)(4)(ii)(b)(2	4(c)(4)(ii)(b)(2	NUM
ftr-493	563	5	)	)	PUNCT
ftr-493	563	6	.	.	PUNCT
ftr-493	564	1	77	77	NUM
ftr-493	564	2	.	.	PUNCT
ftr-493	565	1	again	again	ADV
ftr-493	565	2	,	,	PUNCT
ftr-493	565	3	these	these	DET
ftr-493	565	4	rules	rule	NOUN
ftr-493	565	5	are	be	AUX
ftr-493	565	6	based	base	VERB
ftr-493	565	7	on	on	ADP
ftr-493	565	8	specific	specific	ADJ
ftr-493	565	9	statutory	statutory	ADJ
ftr-493	565	10	provisions	provision	NOUN
ftr-493	565	11	,	,	PUNCT
ftr-493	565	12	and	and	CCONJ
ftr-493	565	13	not	not	PART
ftr-493	565	14	merely	merely	ADV
ftr-493	565	15	on	on	ADP
ftr-493	565	16	general	general	ADJ
ftr-493	565	17	tax	tax	NOUN
ftr-493	565	18	principles	principle	NOUN
ftr-493	565	19	or	or	CCONJ
ftr-493	565	20	policies	policy	NOUN
ftr-493	565	21	.	.	PUNCT
ftr-493	566	1	[	[	X
ftr-493	566	2	vol	vol	NOUN
ftr-493	566	3	1:5	1:5	NUM
ftr-493	566	4	selected	select	VERB
ftr-493	566	5	issues	issue	NOUN
ftr-493	566	6	in	in	ADP
ftr-493	566	7	the	the	DET
ftr-493	566	8	taxation	taxation	NOUN
ftr-493	566	9	of	of	ADP
ftr-493	566	10	swaps	swap	NOUN
ftr-493	566	11	generally	generally	ADV
ftr-493	566	12	considered	consider	VERB
ftr-493	566	13	to	to	PART
ftr-493	566	14	be	be	AUX
ftr-493	566	15	dividends	dividend	NOUN
ftr-493	566	16	for	for	ADP
ftr-493	566	17	tax	tax	NOUN
ftr-493	566	18	purposes	purpose	NOUN
ftr-493	566	19	.	.	PUNCT
ftr-493	567	1	indeed	indeed	ADV
ftr-493	567	2	,	,	PUNCT
ftr-493	567	3	the	the	DET
ftr-493	567	4	service	service	NOUN
ftr-493	567	5	's	's	PART
ftr-493	567	6	treatment	treatment	NOUN
ftr-493	567	7	of	of	ADP
ftr-493	567	8	income	income	NOUN
ftr-493	567	9	from	from	ADP
ftr-493	567	10	swaps	swap	NOUN
ftr-493	567	11	other	other	ADJ
ftr-493	567	12	than	than	ADP
ftr-493	567	13	equity	equity	NOUN
ftr-493	567	14	swaps	swap	NOUN
ftr-493	567	15	supports	support	VERB
ftr-493	567	16	this	this	DET
ftr-493	567	17	point	point	NOUN
ftr-493	567	18	.	.	PUNCT
ftr-493	568	1	thus	thus	ADV
ftr-493	568	2	,	,	PUNCT
ftr-493	568	3	as	as	SCONJ
ftr-493	568	4	discussed	discuss	VERB
ftr-493	568	5	above	above	ADV
ftr-493	568	6	,	,	PUNCT
ftr-493	568	7	the	the	DET
ftr-493	568	8	service	service	NOUN
ftr-493	568	9	does	do	AUX
ftr-493	568	10	not	not	PART
ftr-493	568	11	treat	treat	VERB
ftr-493	568	12	interest	interest	NOUN
ftr-493	568	13	rate	rate	NOUN
ftr-493	568	14	swap	swap	NOUN
ftr-493	568	15	income	income	NOUN
ftr-493	568	16	and	and	CCONJ
ftr-493	568	17	expense	expense	NOUN
ftr-493	568	18	as	as	ADP
ftr-493	568	19	interest	interest	NOUN
ftr-493	568	20	,	,	PUNCT
ftr-493	568	21	even	even	ADV
ftr-493	568	22	though	though	SCONJ
ftr-493	568	23	it	it	PRON
ftr-493	568	24	is	be	AUX
ftr-493	568	25	based	base	VERB
ftr-493	568	26	on	on	ADP
ftr-493	568	27	prevailing	prevail	VERB
ftr-493	568	28	interest	interest	NOUN
ftr-493	568	29	rates	rate	NOUN
ftr-493	568	30	,	,	PUNCT
ftr-493	568	31	and	and	CCONJ
ftr-493	568	32	the	the	DET
ftr-493	568	33	service	service	NOUN
ftr-493	568	34	clearly	clearly	ADV
ftr-493	568	35	intends	intend	VERB
ftr-493	568	36	to	to	PART
ftr-493	568	37	continue	continue	VERB
ftr-493	568	38	to	to	PART
ftr-493	568	39	apply	apply	VERB
ftr-493	568	40	the	the	DET
ftr-493	568	41	rules	rule	NOUN
ftr-493	568	42	of	of	ADP
ftr-493	568	43	regulations	regulation	NOUN
ftr-493	568	44	section	section	NOUN
ftr-493	568	45	1.863	1.863	NUM
ftr-493	568	46	-	-	SYM
ftr-493	568	47	7	7	NUM
ftr-493	568	48	,	,	PUNCT
ftr-493	568	49	rather	rather	ADV
ftr-493	568	50	than	than	ADP
ftr-493	568	51	the	the	DET
ftr-493	568	52	sourcing	sourcing	NOUN
ftr-493	568	53	rules	rule	NOUN
ftr-493	568	54	for	for	ADP
ftr-493	568	55	interest	interest	NOUN
ftr-493	568	56	contained	contain	VERB
ftr-493	568	57	in	in	ADP
ftr-493	568	58	sections	section	NOUN
ftr-493	568	59	861(a)(1	861(a)(1	NUM
ftr-493	568	60	)	)	PUNCT
ftr-493	568	61	and	and	CCONJ
ftr-493	568	62	862(a)(1	862(a)(1	NUM
ftr-493	568	63	)	)	PUNCT
ftr-493	568	64	,	,	PUNCT
ftr-493	568	65	to	to	ADP
ftr-493	568	66	interest	interest	NOUN
ftr-493	568	67	rate	rate	NOUN
ftr-493	568	68	swap	swap	NOUN
ftr-493	568	69	payments	payment	NOUN
ftr-493	568	70	.	.	PUNCT
ftr-493	569	1	78	78	NUM
ftr-493	569	2	nevertheless	nevertheless	ADV
ftr-493	569	3	,	,	PUNCT
ftr-493	569	4	the	the	DET
ftr-493	569	5	potential	potential	ADJ
ftr-493	569	6	use	use	NOUN
ftr-493	569	7	of	of	ADP
ftr-493	569	8	equity	equity	NOUN
ftr-493	569	9	swaps	swap	NOUN
ftr-493	569	10	to	to	PART
ftr-493	569	11	avoid	avoid	VERB
ftr-493	569	12	u.s	u.s	PROPN
ftr-493	569	13	.	.	PROPN
ftr-493	569	14	withholding	withholding	NOUN
ftr-493	569	15	taxes	taxis	NOUN
ftr-493	569	16	may	may	AUX
ftr-493	569	17	still	still	ADV
ftr-493	569	18	trouble	trouble	VERB
ftr-493	569	19	some	some	DET
ftr-493	569	20	readers	reader	NOUN
ftr-493	569	21	.	.	PUNCT
ftr-493	570	1	perhaps	perhaps	ADV
ftr-493	570	2	concern	concern	NOUN
ftr-493	570	3	should	should	AUX
ftr-493	570	4	be	be	AUX
ftr-493	570	5	greatest	great	ADJ
ftr-493	570	6	when	when	SCONJ
ftr-493	570	7	the	the	DET
ftr-493	570	8	equity	equity	NOUN
ftr-493	570	9	swap	swap	NOUN
ftr-493	570	10	is	be	AUX
ftr-493	570	11	with	with	ADP
ftr-493	570	12	respect	respect	NOUN
ftr-493	570	13	to	to	ADP
ftr-493	570	14	only	only	ADV
ftr-493	570	15	a	a	DET
ftr-493	570	16	single	single	ADJ
ftr-493	570	17	underlying	underlie	VERB
ftr-493	570	18	stock	stock	NOUN
ftr-493	570	19	,	,	PUNCT
ftr-493	570	20	or	or	CCONJ
ftr-493	570	21	a	a	DET
ftr-493	570	22	small	small	ADJ
ftr-493	570	23	group	group	NOUN
ftr-493	570	24	of	of	ADP
ftr-493	570	25	stocks	stock	NOUN
ftr-493	570	26	-	-	PUNCT
ftr-493	570	27	in	in	ADP
ftr-493	570	28	that	that	DET
ftr-493	570	29	case	case	NOUN
ftr-493	570	30	,	,	PUNCT
ftr-493	571	1	the	the	DET
ftr-493	571	2	putative	putative	ADJ
ftr-493	571	3	non	non	ADJ
ftr-493	571	4	-	-	ADJ
ftr-493	571	5	tax	tax	ADJ
ftr-493	571	6	purposes	purpose	NOUN
ftr-493	571	7	for	for	ADP
ftr-493	571	8	entering	enter	VERB
ftr-493	571	9	into	into	ADP
ftr-493	571	10	an	an	DET
ftr-493	571	11	equity	equity	NOUN
ftr-493	571	12	swap	swap	NOUN
ftr-493	571	13	(	(	PUNCT
ftr-493	571	14	e.g.	e.g.	ADV
ftr-493	571	15	,	,	PUNCT
ftr-493	571	16	portfolio	portfolio	NOUN
ftr-493	571	17	diversification	diversification	NOUN
ftr-493	571	18	and	and	CCONJ
ftr-493	571	19	avoidance	avoidance	NOUN
ftr-493	571	20	of	of	ADP
ftr-493	571	21	transaction	transaction	NOUN
ftr-493	571	22	costs	cost	NOUN
ftr-493	571	23	)	)	PUNCT
ftr-493	571	24	are	be	AUX
ftr-493	571	25	least	least	ADV
ftr-493	571	26	likely	likely	ADJ
ftr-493	571	27	to	to	PART
ftr-493	571	28	be	be	AUX
ftr-493	571	29	at	at	ADP
ftr-493	571	30	issue	issue	NOUN
ftr-493	571	31	,	,	PUNCT
ftr-493	571	32	and	and	CCONJ
ftr-493	571	33	the	the	DET
ftr-493	571	34	swap	swap	NOUN
ftr-493	571	35	was	be	AUX
ftr-493	571	36	likely	likely	ADV
ftr-493	571	37	entered	enter	VERB
ftr-493	571	38	into	into	ADP
ftr-493	571	39	primarily	primarily	ADV
ftr-493	571	40	to	to	PART
ftr-493	571	41	avoid	avoid	VERB
ftr-493	571	42	u.s	u.s	PROPN
ftr-493	571	43	.	.	PROPN
ftr-493	571	44	withholding	withhold	VERB
ftr-493	571	45	taxes.79	taxes.79	NOUN
ftr-493	571	46	furthermore	furthermore	ADV
ftr-493	571	47	,	,	PUNCT
ftr-493	571	48	as	as	SCONJ
ftr-493	571	49	noted	note	VERB
ftr-493	571	50	above	above	ADV
ftr-493	571	51	,	,	PUNCT
ftr-493	571	52	the	the	DET
ftr-493	571	53	policy	policy	NOUN
ftr-493	571	54	judgment	judgment	NOUN
ftr-493	571	55	to	to	PART
ftr-493	571	56	treat	treat	VERB
ftr-493	571	57	dividend	dividend	NOUN
ftr-493	571	58	-	-	PUNCT
ftr-493	571	59	based	base	VERB
ftr-493	571	60	payments	payment	NOUN
ftr-493	571	61	the	the	DET
ftr-493	571	62	same	same	ADJ
ftr-493	571	63	as	as	ADP
ftr-493	571	64	"	"	PUNCT
ftr-493	571	65	real	real	ADJ
ftr-493	571	66	"	"	PUNCT
ftr-493	571	67	dividends	dividend	NOUN
ftr-493	571	68	for	for	ADP
ftr-493	571	69	withholding	withhold	VERB
ftr-493	571	70	tax	tax	NOUN
ftr-493	571	71	purposes	purpose	NOUN
ftr-493	571	72	has	have	AUX
ftr-493	571	73	already	already	ADV
ftr-493	571	74	been	be	AUX
ftr-493	571	75	made	make	VERB
ftr-493	571	76	in	in	ADP
ftr-493	571	77	the	the	DET
ftr-493	571	78	securities	security	NOUN
ftr-493	571	79	lending	lending	NOUN
ftr-493	571	80	context	context	NOUN
ftr-493	571	81	,	,	PUNCT
ftr-493	571	82	and	and	CCONJ
ftr-493	571	83	it	it	PRON
ftr-493	571	84	might	might	AUX
ftr-493	571	85	be	be	AUX
ftr-493	571	86	thought	think	VERB
ftr-493	571	87	anomalous	anomalous	ADJ
ftr-493	571	88	to	to	PART
ftr-493	571	89	have	have	VERB
ftr-493	571	90	a	a	DET
ftr-493	571	91	different	different	ADJ
ftr-493	571	92	rule	rule	NOUN
ftr-493	571	93	for	for	ADP
ftr-493	571	94	equity	equity	NOUN
ftr-493	571	95	swaps	swap	NOUN
ftr-493	571	96	.	.	PUNCT
ftr-493	572	1	there	there	PRON
ftr-493	572	2	are	be	VERB
ftr-493	572	3	no	no	DET
ftr-493	572	4	definitive	definitive	ADJ
ftr-493	572	5	answers	answer	NOUN
ftr-493	572	6	to	to	ADP
ftr-493	572	7	these	these	DET
ftr-493	572	8	questions	question	NOUN
ftr-493	572	9	,	,	PUNCT
ftr-493	572	10	but	but	CCONJ
ftr-493	572	11	a	a	DET
ftr-493	572	12	few	few	ADJ
ftr-493	572	13	observations	observation	NOUN
ftr-493	572	14	can	can	AUX
ftr-493	572	15	be	be	AUX
ftr-493	572	16	made	make	VERB
ftr-493	572	17	.	.	PUNCT
ftr-493	573	1	first	first	ADV
ftr-493	573	2	,	,	PUNCT
ftr-493	573	3	any	any	DET
ftr-493	573	4	attempt	attempt	NOUN
ftr-493	573	5	to	to	PART
ftr-493	573	6	distinguish	distinguish	VERB
ftr-493	573	7	"	"	PUNCT
ftr-493	573	8	large	large	ADJ
ftr-493	573	9	basket	basket	NOUN
ftr-493	573	10	"	"	PUNCT
ftr-493	573	11	equity	equity	NOUN
ftr-493	573	12	swaps	swap	NOUN
ftr-493	573	13	from	from	ADP
ftr-493	573	14	single	single	ADJ
ftr-493	573	15	equity	equity	NOUN
ftr-493	573	16	or	or	CCONJ
ftr-493	573	17	"	"	PUNCT
ftr-493	573	18	small	small	ADJ
ftr-493	573	19	basket	basket	NOUN
ftr-493	573	20	"	"	PUNCT
ftr-493	573	21	swaps	swap	NOUN
ftr-493	573	22	will	will	AUX
ftr-493	573	23	be	be	AUX
ftr-493	573	24	inevitably	inevitably	ADV
ftr-493	573	25	arbitrary	arbitrary	ADJ
ftr-493	573	26	.	.	PUNCT
ftr-493	574	1	even	even	ADV
ftr-493	574	2	accepting	accept	VERB
ftr-493	574	3	for	for	ADP
ftr-493	574	4	purposes	purpose	NOUN
ftr-493	574	5	of	of	ADP
ftr-493	574	6	argument	argument	NOUN
ftr-493	574	7	that	that	SCONJ
ftr-493	574	8	single	single	ADJ
ftr-493	574	9	equity	equity	NOUN
ftr-493	574	10	or	or	CCONJ
ftr-493	574	11	small	small	ADJ
ftr-493	574	12	basket	basket	NOUN
ftr-493	574	13	equity	equity	NOUN
ftr-493	574	14	swaps	swap	NOUN
ftr-493	574	15	present	present	VERB
ftr-493	574	16	the	the	DET
ftr-493	574	17	greatest	great	ADJ
ftr-493	574	18	potential	potential	NOUN
ftr-493	574	19	for	for	ADP
ftr-493	574	20	tax	tax	NOUN
ftr-493	574	21	abuse	abuse	NOUN
ftr-493	574	22	with	with	ADP
ftr-493	574	23	the	the	DET
ftr-493	574	24	least	least	ADV
ftr-493	574	25	likely	likely	ADJ
ftr-493	574	26	presence	presence	NOUN
ftr-493	574	27	of	of	ADP
ftr-493	574	28	countervailing	countervail	VERB
ftr-493	574	29	business	business	NOUN
ftr-493	574	30	purposes	purpose	NOUN
ftr-493	574	31	,	,	PUNCT
ftr-493	574	32	how	how	SCONJ
ftr-493	574	33	can	can	AUX
ftr-493	574	34	the	the	DET
ftr-493	574	35	line	line	NOUN
ftr-493	574	36	be	be	AUX
ftr-493	574	37	drawn	draw	VERB
ftr-493	574	38	in	in	ADP
ftr-493	574	39	a	a	DET
ftr-493	574	40	principled	principled	ADJ
ftr-493	574	41	manner	manner	NOUN
ftr-493	574	42	?	?	PUNCT
ftr-493	575	1	if	if	SCONJ
ftr-493	575	2	one	one	NUM
ftr-493	575	3	stock	stock	NOUN
ftr-493	575	4	is	be	AUX
ftr-493	575	5	too	too	ADV
ftr-493	575	6	little	little	ADJ
ftr-493	575	7	,	,	PUNCT
ftr-493	575	8	how	how	SCONJ
ftr-493	575	9	about	about	ADP
ftr-493	575	10	two	two	NUM
ftr-493	575	11	stocks	stock	NOUN
ftr-493	575	12	,	,	PUNCT
ftr-493	575	13	or	or	CCONJ
ftr-493	575	14	three	three	NUM
ftr-493	575	15	?	?	PUNCT
ftr-493	576	1	does	do	AUX
ftr-493	576	2	it	it	PRON
ftr-493	576	3	matter	matter	VERB
ftr-493	576	4	if	if	SCONJ
ftr-493	576	5	the	the	DET
ftr-493	576	6	price	price	NOUN
ftr-493	576	7	movements	movement	NOUN
ftr-493	576	8	of	of	ADP
ftr-493	576	9	all	all	DET
ftr-493	576	10	the	the	DET
ftr-493	576	11	stocks	stock	NOUN
ftr-493	576	12	in	in	ADP
ftr-493	576	13	the	the	DET
ftr-493	576	14	basket	basket	NOUN
ftr-493	576	15	are	be	AUX
ftr-493	576	16	expected	expect	VERB
ftr-493	576	17	to	to	PART
ftr-493	576	18	be	be	AUX
ftr-493	576	19	highly	highly	ADV
ftr-493	576	20	correlated	correlate	VERB
ftr-493	576	21	,	,	PUNCT
ftr-493	576	22	thus	thus	ADV
ftr-493	576	23	arguably	arguably	ADV
ftr-493	576	24	undercutting	undercut	VERB
ftr-493	576	25	the	the	DET
ftr-493	576	26	portfolio	portfolio	NOUN
ftr-493	576	27	diversification	diversification	NOUN
ftr-493	576	28	argument	argument	NOUN
ftr-493	576	29	,	,	PUNCT
ftr-493	576	30	even	even	ADV
ftr-493	576	31	if	if	SCONJ
ftr-493	576	32	there	there	PRON
ftr-493	576	33	are	be	VERB
ftr-493	576	34	a	a	DET
ftr-493	576	35	large	large	ADJ
ftr-493	576	36	number	number	NOUN
ftr-493	576	37	of	of	ADP
ftr-493	576	38	stocks	stock	NOUN
ftr-493	576	39	in	in	ADP
ftr-493	576	40	the	the	DET
ftr-493	576	41	basket	basket	NOUN
ftr-493	576	42	?	?	PUNCT
ftr-493	577	1	and	and	CCONJ
ftr-493	577	2	diversification	diversification	NOUN
ftr-493	577	3	is	be	AUX
ftr-493	577	4	generally	generally	ADV
ftr-493	577	5	thought	think	VERB
ftr-493	577	6	to	to	PART
ftr-493	577	7	be	be	AUX
ftr-493	577	8	a	a	DET
ftr-493	577	9	function	function	NOUN
ftr-493	577	10	of	of	ADP
ftr-493	577	11	the	the	DET
ftr-493	577	12	78	78	NUM
ftr-493	577	13	.	.	PUNCT
ftr-493	578	1	it	it	PRON
ftr-493	578	2	is	be	AUX
ftr-493	578	3	true	true	ADJ
ftr-493	578	4	,	,	PUNCT
ftr-493	578	5	of	of	ADP
ftr-493	578	6	course	course	NOUN
ftr-493	578	7	,	,	PUNCT
ftr-493	578	8	that	that	SCONJ
ftr-493	578	9	the	the	DET
ftr-493	578	10	drafters	drafter	NOUN
ftr-493	578	11	of	of	ADP
ftr-493	578	12	regulations	regulation	NOUN
ftr-493	578	13	section	section	NOUN
ftr-493	578	14	1.863	1.863	NUM
ftr-493	578	15	-	-	SYM
ftr-493	578	16	7	7	NUM
ftr-493	578	17	did	do	AUX
ftr-493	578	18	not	not	PART
ftr-493	578	19	lose	lose	VERB
ftr-493	578	20	much	much	ADJ
ftr-493	578	21	,	,	PUNCT
ftr-493	578	22	if	if	SCONJ
ftr-493	578	23	any	any	PRON
ftr-493	578	24	,	,	PUNCT
ftr-493	578	25	potential	potential	ADJ
ftr-493	578	26	revenue	revenue	NOUN
ftr-493	578	27	for	for	ADP
ftr-493	578	28	the	the	DET
ftr-493	578	29	fisc	fisc	NOUN
ftr-493	578	30	by	by	ADP
ftr-493	578	31	treating	treat	VERB
ftr-493	578	32	interest	interest	NOUN
ftr-493	578	33	rate	rate	NOUN
ftr-493	578	34	swap	swap	NOUN
ftr-493	578	35	payments	payment	NOUN
ftr-493	578	36	as	as	ADP
ftr-493	578	37	foreign	foreign	ADJ
ftr-493	578	38	source	source	NOUN
ftr-493	578	39	income	income	NOUN
ftr-493	578	40	,	,	PUNCT
ftr-493	578	41	since	since	SCONJ
ftr-493	578	42	most	most	ADJ
ftr-493	578	43	interest	interest	NOUN
ftr-493	578	44	payments	payment	NOUN
ftr-493	578	45	on	on	ADP
ftr-493	578	46	real	real	ADJ
ftr-493	578	47	debt	debt	NOUN
ftr-493	578	48	are	be	AUX
ftr-493	578	49	not	not	PART
ftr-493	578	50	subject	subject	ADJ
ftr-493	578	51	to	to	ADP
ftr-493	578	52	withholding	withholding	NOUN
ftr-493	578	53	tax	tax	NOUN
ftr-493	578	54	because	because	SCONJ
ftr-493	578	55	of	of	ADP
ftr-493	578	56	the	the	DET
ftr-493	578	57	portfolio	portfolio	NOUN
ftr-493	578	58	interest	interest	NOUN
ftr-493	578	59	rules	rule	NOUN
ftr-493	578	60	of	of	ADP
ftr-493	578	61	sections	section	NOUN
ftr-493	578	62	871(h	871(h	NOUN
ftr-493	578	63	)	)	PUNCT
ftr-493	578	64	and	and	CCONJ
ftr-493	578	65	881(c	881(c	NUM
ftr-493	578	66	)	)	PUNCT
ftr-493	578	67	.	.	PUNCT
ftr-493	579	1	nevertheless	nevertheless	ADV
ftr-493	579	2	,	,	PUNCT
ftr-493	579	3	there	there	PRON
ftr-493	579	4	are	be	VERB
ftr-493	579	5	certain	certain	ADJ
ftr-493	579	6	cases	case	NOUN
ftr-493	579	7	where	where	SCONJ
ftr-493	579	8	interest	interest	NOUN
ftr-493	579	9	remains	remain	VERB
ftr-493	579	10	subject	subject	ADJ
ftr-493	579	11	to	to	ADP
ftr-493	579	12	withholding	withholding	NOUN
ftr-493	579	13	tax	tax	NOUN
ftr-493	579	14	(	(	PUNCT
ftr-493	579	15	e.g.	e.g.	ADV
ftr-493	579	16	,	,	PUNCT
ftr-493	579	17	interest	interest	NOUN
ftr-493	579	18	received	receive	VERB
ftr-493	579	19	by	by	ADP
ftr-493	579	20	a	a	DET
ftr-493	579	21	10	10	NUM
ftr-493	579	22	%	%	NOUN
ftr-493	579	23	shareholder	shareholder	NOUN
ftr-493	579	24	,	,	PUNCT
ftr-493	579	25	a	a	DET
ftr-493	579	26	related	relate	VERB
ftr-493	579	27	controlled	control	VERB
ftr-493	579	28	foreign	foreign	ADJ
ftr-493	579	29	corporation	corporation	NOUN
ftr-493	579	30	,	,	PUNCT
ftr-493	579	31	or	or	CCONJ
ftr-493	579	32	by	by	ADP
ftr-493	579	33	a	a	DET
ftr-493	579	34	bank	bank	NOUN
ftr-493	579	35	on	on	ADP
ftr-493	579	36	an	an	DET
ftr-493	579	37	extension	extension	NOUN
ftr-493	579	38	of	of	ADP
ftr-493	579	39	credit	credit	NOUN
ftr-493	579	40	made	make	VERB
ftr-493	579	41	pursuant	pursuant	ADJ
ftr-493	579	42	to	to	ADP
ftr-493	579	43	a	a	DET
ftr-493	579	44	loan	loan	NOUN
ftr-493	579	45	agreement	agreement	NOUN
ftr-493	579	46	entered	enter	VERB
ftr-493	579	47	into	into	ADP
ftr-493	579	48	in	in	ADP
ftr-493	579	49	the	the	DET
ftr-493	579	50	ordinary	ordinary	ADJ
ftr-493	579	51	course	course	NOUN
ftr-493	579	52	of	of	ADP
ftr-493	579	53	the	the	DET
ftr-493	579	54	bank	bank	NOUN
ftr-493	579	55	's	's	PART
ftr-493	579	56	trade	trade	NOUN
ftr-493	579	57	or	or	CCONJ
ftr-493	579	58	business	business	NOUN
ftr-493	579	59	)	)	PUNCT
ftr-493	579	60	and	and	CCONJ
ftr-493	579	61	yet	yet	ADV
ftr-493	579	62	the	the	DET
ftr-493	579	63	regulations	regulation	NOUN
ftr-493	579	64	do	do	AUX
ftr-493	579	65	not	not	PART
ftr-493	579	66	attempt	attempt	VERB
ftr-493	579	67	to	to	PART
ftr-493	579	68	recharacterize	recharacterize	VERB
ftr-493	579	69	interest	interest	NOUN
ftr-493	579	70	rate	rate	NOUN
ftr-493	579	71	swap	swap	NOUN
ftr-493	579	72	payments	payment	NOUN
ftr-493	579	73	as	as	ADP
ftr-493	579	74	interest	interest	NOUN
ftr-493	579	75	for	for	ADP
ftr-493	579	76	purposes	purpose	NOUN
ftr-493	579	77	of	of	ADP
ftr-493	579	78	applying	apply	VERB
ftr-493	579	79	these	these	DET
ftr-493	579	80	exceptions	exception	NOUN
ftr-493	579	81	.	.	PUNCT
ftr-493	580	1	79	79	NUM
ftr-493	580	2	.	.	PUNCT
ftr-493	581	1	of	of	ADP
ftr-493	581	2	course	course	NOUN
ftr-493	581	3	,	,	PUNCT
ftr-493	581	4	while	while	SCONJ
ftr-493	581	5	the	the	DET
ftr-493	581	6	lack	lack	NOUN
ftr-493	581	7	of	of	ADP
ftr-493	581	8	a	a	DET
ftr-493	581	9	bona	bona	ADJ
ftr-493	581	10	fide	fide	ADJ
ftr-493	581	11	business	business	NOUN
ftr-493	581	12	purpose	purpose	NOUN
ftr-493	581	13	may	may	AUX
ftr-493	581	14	suggest	suggest	VERB
ftr-493	581	15	that	that	SCONJ
ftr-493	581	16	payments	payment	NOUN
ftr-493	581	17	on	on	ADP
ftr-493	581	18	a	a	DET
ftr-493	581	19	given	give	VERB
ftr-493	581	20	type	type	NOUN
ftr-493	581	21	of	of	ADP
ftr-493	581	22	equity	equity	NOUN
ftr-493	581	23	swap	swap	NOUN
ftr-493	581	24	should	should	AUX
ftr-493	581	25	be	be	AUX
ftr-493	581	26	subject	subject	ADJ
ftr-493	581	27	to	to	ADP
ftr-493	581	28	withholding	withholding	NOUN
ftr-493	581	29	taxes	taxis	NOUN
ftr-493	581	30	,	,	PUNCT
ftr-493	581	31	the	the	DET
ftr-493	581	32	presence	presence	NOUN
ftr-493	581	33	of	of	ADP
ftr-493	581	34	a	a	DET
ftr-493	581	35	bona	bona	ADJ
ftr-493	581	36	fide	fide	ADJ
ftr-493	581	37	business	business	NOUN
ftr-493	581	38	purpose	purpose	NOUN
ftr-493	581	39	should	should	AUX
ftr-493	581	40	not	not	PART
ftr-493	581	41	necessarily	necessarily	ADV
ftr-493	581	42	insulate	insulate	VERB
ftr-493	581	43	swap	swap	NOUN
ftr-493	581	44	payments	payment	NOUN
ftr-493	581	45	from	from	ADP
ftr-493	581	46	tax	tax	NOUN
ftr-493	581	47	.	.	PUNCT
ftr-493	582	1	the	the	DET
ftr-493	582	2	acquisition	acquisition	NOUN
ftr-493	582	3	of	of	ADP
ftr-493	582	4	stock	stock	NOUN
ftr-493	582	5	may	may	AUX
ftr-493	582	6	be	be	AUX
ftr-493	582	7	made	make	VERB
ftr-493	582	8	for	for	ADP
ftr-493	582	9	the	the	DET
ftr-493	582	10	most	most	ADV
ftr-493	582	11	compelling	compelling	ADJ
ftr-493	582	12	of	of	ADP
ftr-493	582	13	business	business	NOUN
ftr-493	582	14	purposes	purpose	NOUN
ftr-493	582	15	and	and	CCONJ
ftr-493	582	16	yet	yet	ADV
ftr-493	582	17	dividends	dividend	NOUN
ftr-493	582	18	on	on	ADP
ftr-493	582	19	the	the	DET
ftr-493	582	20	stock	stock	NOUN
ftr-493	582	21	are	be	AUX
ftr-493	582	22	subject	subject	ADJ
ftr-493	582	23	to	to	ADP
ftr-493	582	24	withholding	withhold	VERB
ftr-493	582	25	taxes	taxis	NOUN
ftr-493	582	26	.	.	PUNCT
ftr-493	583	1	19931	19931	NUM
ftr-493	583	2	florida	florida	PROPN
ftr-493	583	3	tax	tax	PROPN
ftr-493	583	4	review	review	PROPN
ftr-493	583	5	taxpayer	taxpayer	NOUN
ftr-493	583	6	's	's	PART
ftr-493	583	7	overall	overall	ADJ
ftr-493	583	8	portfolio	portfolio	NOUN
ftr-493	583	9	,	,	PUNCT
ftr-493	583	10	rather	rather	ADV
ftr-493	583	11	than	than	ADP
ftr-493	583	12	simply	simply	ADV
ftr-493	583	13	of	of	ADP
ftr-493	583	14	the	the	DET
ftr-493	583	15	stocks	stock	NOUN
ftr-493	583	16	in	in	ADP
ftr-493	583	17	the	the	DET
ftr-493	583	18	particular	particular	ADJ
ftr-493	583	19	basket	basket	NOUN
ftr-493	583	20	underlying	underlie	VERB
ftr-493	583	21	the	the	DET
ftr-493	583	22	equity	equity	NOUN
ftr-493	583	23	swap	swap	NOUN
ftr-493	583	24	.	.	PUNCT
ftr-493	584	1	nevertheless	nevertheless	ADV
ftr-493	584	2	,	,	PUNCT
ftr-493	584	3	if	if	SCONJ
ftr-493	584	4	withholding	withholding	NOUN
ftr-493	584	5	taxes	taxis	NOUN
ftr-493	584	6	are	be	AUX
ftr-493	584	7	to	to	PART
ftr-493	584	8	be	be	AUX
ftr-493	584	9	collected	collect	VERB
ftr-493	584	10	by	by	ADP
ftr-493	584	11	withholding	withhold	VERB
ftr-493	584	12	agents	agent	NOUN
ftr-493	584	13	,	,	PUNCT
ftr-493	584	14	and	and	CCONJ
ftr-493	584	15	if	if	SCONJ
ftr-493	584	16	not	not	PART
ftr-493	584	17	all	all	DET
ftr-493	584	18	equity	equity	NOUN
ftr-493	584	19	swaps	swap	NOUN
ftr-493	584	20	are	be	AUX
ftr-493	584	21	to	to	PART
ftr-493	584	22	be	be	AUX
ftr-493	584	23	treated	treat	VERB
ftr-493	584	24	the	the	DET
ftr-493	584	25	same	same	ADJ
ftr-493	584	26	,	,	PUNCT
ftr-493	584	27	some	some	DET
ftr-493	584	28	clear	clear	ADJ
ftr-493	584	29	and	and	CCONJ
ftr-493	584	30	objective	objective	ADJ
ftr-493	584	31	lines	line	NOUN
ftr-493	584	32	must	must	AUX
ftr-493	584	33	be	be	AUX
ftr-493	584	34	drawn	draw	VERB
ftr-493	584	35	,	,	PUNCT
ftr-493	584	36	based	base	VERB
ftr-493	584	37	on	on	ADP
ftr-493	584	38	the	the	DET
ftr-493	584	39	four	four	NUM
ftr-493	584	40	comers	comer	NOUN
ftr-493	584	41	of	of	ADP
ftr-493	584	42	the	the	DET
ftr-493	584	43	swap	swap	NOUN
ftr-493	584	44	contract	contract	NOUN
ftr-493	584	45	and	and	CCONJ
ftr-493	584	46	not	not	PART
ftr-493	584	47	on	on	ADP
ftr-493	584	48	facts	fact	NOUN
ftr-493	584	49	that	that	PRON
ftr-493	584	50	may	may	AUX
ftr-493	584	51	be	be	AUX
ftr-493	584	52	known	know	VERB
ftr-493	584	53	only	only	ADV
ftr-493	584	54	to	to	ADP
ftr-493	584	55	the	the	DET
ftr-493	584	56	non	non	ADJ
ftr-493	584	57	-	-	ADJ
ftr-493	584	58	u.s	u.s	PROPN
ftr-493	584	59	.	.	PROPN
ftr-493	584	60	swap	swap	NOUN
ftr-493	584	61	counterparty	counterparty	NOUN
ftr-493	584	62	or	or	CCONJ
ftr-493	584	63	on	on	ADP
ftr-493	584	64	the	the	DET
ftr-493	584	65	application	application	NOUN
ftr-493	584	66	of	of	ADP
ftr-493	584	67	portfolio	portfolio	NOUN
ftr-493	584	68	theory	theory	NOUN
ftr-493	584	69	to	to	ADP
ftr-493	584	70	particular	particular	ADJ
ftr-493	584	71	facts	fact	NOUN
ftr-493	584	72	.	.	PUNCT
ftr-493	585	1	second	second	ADJ
ftr-493	585	2	,	,	PUNCT
ftr-493	585	3	while	while	SCONJ
ftr-493	585	4	the	the	DET
ftr-493	585	5	securities	security	NOUN
ftr-493	585	6	lending	lending	NOUN
ftr-493	585	7	regulations	regulation	NOUN
ftr-493	585	8	do	do	AUX
ftr-493	585	9	apply	apply	VERB
ftr-493	585	10	lookthrough	lookthrough	ADJ
ftr-493	585	11	treatment	treatment	NOUN
ftr-493	585	12	to	to	ADP
ftr-493	585	13	(	(	PUNCT
ftr-493	585	14	and	and	CCONJ
ftr-493	585	15	therefore	therefore	ADV
ftr-493	585	16	impose	impose	VERB
ftr-493	585	17	withholding	withholding	NOUN
ftr-493	585	18	tax	tax	NOUN
ftr-493	585	19	on	on	ADP
ftr-493	585	20	)	)	PUNCT
ftr-493	585	21	dividend	dividend	NOUN
ftr-493	585	22	equivalent	equivalent	ADJ
ftr-493	585	23	payments	payment	NOUN
ftr-493	585	24	,	,	PUNCT
ftr-493	585	25	securities	security	NOUN
ftr-493	585	26	lending	lending	NOUN
ftr-493	585	27	transactions	transaction	NOUN
ftr-493	585	28	are	be	AUX
ftr-493	585	29	distinguishable	distinguishable	ADJ
ftr-493	585	30	from	from	ADP
ftr-493	585	31	equity	equity	NOUN
ftr-493	585	32	swaps	swap	NOUN
ftr-493	585	33	in	in	ADP
ftr-493	585	34	an	an	DET
ftr-493	585	35	important	important	ADJ
ftr-493	585	36	way	way	NOUN
ftr-493	585	37	:	:	PUNCT
ftr-493	585	38	the	the	DET
ftr-493	585	39	non	non	PROPN
ftr-493	585	40	-	-	ADJ
ftr-493	585	41	u.s	u.s	ADJ
ftr-493	585	42	.	.	PROPN
ftr-493	585	43	lender	lender	NOUN
ftr-493	585	44	in	in	ADP
ftr-493	585	45	a	a	DET
ftr-493	585	46	securities	security	NOUN
ftr-493	585	47	lending	lending	NOUN
ftr-493	585	48	transaction	transaction	NOUN
ftr-493	585	49	actually	actually	ADV
ftr-493	585	50	owned	own	VERB
ftr-493	585	51	physical	physical	ADJ
ftr-493	585	52	stock	stock	NOUN
ftr-493	585	53	prior	prior	ADV
ftr-493	585	54	to	to	ADP
ftr-493	585	55	entering	enter	VERB
ftr-493	585	56	into	into	ADP
ftr-493	585	57	the	the	DET
ftr-493	585	58	transaction	transaction	NOUN
ftr-493	585	59	,	,	PUNCT
ftr-493	585	60	and	and	CCONJ
ftr-493	585	61	will	will	AUX
ftr-493	585	62	own	own	VERB
ftr-493	585	63	physical	physical	ADJ
ftr-493	585	64	stock	stock	NOUN
ftr-493	585	65	again	again	ADV
ftr-493	585	66	at	at	ADP
ftr-493	585	67	the	the	DET
ftr-493	585	68	conclusion	conclusion	NOUN
ftr-493	585	69	of	of	ADP
ftr-493	585	70	the	the	DET
ftr-493	585	71	transaction.80	transaction.80	NOUN
ftr-493	585	72	this	this	DET
ftr-493	585	73	important	important	ADJ
ftr-493	585	74	link	link	NOUN
ftr-493	585	75	between	between	ADP
ftr-493	585	76	the	the	DET
ftr-493	585	77	non	non	PROPN
ftr-493	585	78	-	-	ADJ
ftr-493	585	79	u.s	u.s	ADJ
ftr-493	585	80	.	.	PROPN
ftr-493	585	81	lender	lender	NOUN
ftr-493	585	82	and	and	CCONJ
ftr-493	585	83	the	the	DET
ftr-493	585	84	ownership	ownership	NOUN
ftr-493	585	85	of	of	ADP
ftr-493	585	86	physical	physical	ADJ
ftr-493	585	87	stock	stock	NOUN
ftr-493	585	88	makes	make	VERB
ftr-493	585	89	a	a	DET
ftr-493	585	90	more	more	ADV
ftr-493	585	91	compelling	compelling	ADJ
ftr-493	585	92	case	case	NOUN
ftr-493	585	93	for	for	ADP
ftr-493	585	94	imposing	impose	VERB
ftr-493	585	95	withholding	withholding	NOUN
ftr-493	585	96	taxes	taxis	NOUN
ftr-493	585	97	in	in	ADP
ftr-493	585	98	securities	security	NOUN
ftr-493	585	99	lending	lending	NOUN
ftr-493	585	100	transactions	transaction	NOUN
ftr-493	585	101	as	as	SCONJ
ftr-493	585	102	compared	compare	VERB
ftr-493	585	103	to	to	ADP
ftr-493	585	104	equity	equity	NOUN
ftr-493	585	105	swaps	swap	NOUN
ftr-493	585	106	.	.	PUNCT
ftr-493	586	1	finally	finally	ADV
ftr-493	586	2	,	,	PUNCT
ftr-493	586	3	perhaps	perhaps	ADV
ftr-493	586	4	it	it	PRON
ftr-493	586	5	is	be	AUX
ftr-493	586	6	significant	significant	ADJ
ftr-493	586	7	that	that	SCONJ
ftr-493	586	8	equity	equity	NOUN
ftr-493	586	9	swaps	swap	NOUN
ftr-493	586	10	do	do	AUX
ftr-493	586	11	not	not	PART
ftr-493	586	12	have	have	VERB
ftr-493	586	13	to	to	PART
ftr-493	586	14	involve	involve	VERB
ftr-493	586	15	physical	physical	ADJ
ftr-493	586	16	stocks	stock	NOUN
ftr-493	586	17	,	,	PUNCT
ftr-493	586	18	directly	directly	ADV
ftr-493	586	19	or	or	CCONJ
ftr-493	586	20	indirectly	indirectly	ADV
ftr-493	586	21	.	.	PUNCT
ftr-493	587	1	there	there	PRON
ftr-493	587	2	is	be	VERB
ftr-493	587	3	no	no	DET
ftr-493	587	4	requirement	requirement	NOUN
ftr-493	587	5	that	that	SCONJ
ftr-493	587	6	the	the	DET
ftr-493	587	7	counterparty	counterparty	NOUN
ftr-493	587	8	making	make	VERB
ftr-493	587	9	the	the	DET
ftr-493	587	10	equity	equity	NOUN
ftr-493	587	11	-	-	PUNCT
ftr-493	587	12	based	base	VERB
ftr-493	587	13	payments	payment	NOUN
ftr-493	587	14	on	on	ADP
ftr-493	587	15	the	the	DET
ftr-493	587	16	swap	swap	NOUN
ftr-493	587	17	actually	actually	ADV
ftr-493	587	18	hold	hold	VERB
ftr-493	587	19	stock.8	stock.8	NOUN
ftr-493	587	20	thus	thus	ADV
ftr-493	587	21	,	,	PUNCT
ftr-493	587	22	there	there	PRON
ftr-493	587	23	is	be	VERB
ftr-493	587	24	at	at	ADP
ftr-493	587	25	least	least	ADJ
ftr-493	587	26	the	the	DET
ftr-493	587	27	potential	potential	NOUN
ftr-493	587	28	that	that	SCONJ
ftr-493	587	29	the	the	DET
ftr-493	587	30	aggregate	aggregate	ADJ
ftr-493	587	31	amount	amount	NOUN
ftr-493	587	32	of	of	ADP
ftr-493	587	33	dividend	dividend	NOUN
ftr-493	587	34	-	-	PUNCT
ftr-493	587	35	based	base	VERB
ftr-493	587	36	payments	payment	NOUN
ftr-493	587	37	on	on	ADP
ftr-493	587	38	equity	equity	NOUN
ftr-493	587	39	swaps	swap	NOUN
ftr-493	587	40	may	may	AUX
ftr-493	587	41	exceed	exceed	VERB
ftr-493	587	42	the	the	DET
ftr-493	587	43	aggregate	aggregate	ADJ
ftr-493	587	44	amount	amount	NOUN
ftr-493	587	45	of	of	ADP
ftr-493	587	46	dividends	dividend	NOUN
ftr-493	587	47	actually	actually	ADV
ftr-493	587	48	paid	pay	VERB
ftr-493	587	49	on	on	ADP
ftr-493	587	50	the	the	DET
ftr-493	587	51	underlying	underlie	VERB
ftr-493	587	52	stock	stock	NOUN
ftr-493	587	53	,	,	PUNCT
ftr-493	587	54	thereby	thereby	ADV
ftr-493	587	55	multiplying	multiply	VERB
ftr-493	587	56	(	(	PUNCT
ftr-493	587	57	perhaps	perhaps	ADV
ftr-493	587	58	dramatically	dramatically	ADV
ftr-493	587	59	)	)	PUNCT
ftr-493	587	60	the	the	DET
ftr-493	587	61	amount	amount	NOUN
ftr-493	587	62	of	of	ADP
ftr-493	587	63	dividend	dividend	NOUN
ftr-493	587	64	-	-	PUNCT
ftr-493	587	65	related	relate	VERB
ftr-493	587	66	income	income	NOUN
ftr-493	587	67	subject	subject	NOUN
ftr-493	587	68	to	to	ADP
ftr-493	587	69	u.s	u.s	PROPN
ftr-493	587	70	.	.	PROPN
ftr-493	587	71	tax.82	tax.82	PROPN
ftr-493	587	72	80	80	NUM
ftr-493	587	73	.	.	PUNCT
ftr-493	588	1	indeed	indeed	ADV
ftr-493	588	2	,	,	PUNCT
ftr-493	588	3	in	in	ADP
ftr-493	588	4	a	a	DET
ftr-493	588	5	securities	security	NOUN
ftr-493	588	6	lending	lending	NOUN
ftr-493	588	7	transaction	transaction	NOUN
ftr-493	588	8	subject	subject	ADJ
ftr-493	588	9	to	to	ADP
ftr-493	588	10	section	section	NOUN
ftr-493	588	11	1058	1058	NUM
ftr-493	588	12	,	,	PUNCT
ftr-493	588	13	the	the	DET
ftr-493	588	14	agreement	agreement	NOUN
ftr-493	588	15	must	must	AUX
ftr-493	588	16	provide	provide	VERB
ftr-493	588	17	that	that	SCONJ
ftr-493	588	18	the	the	DET
ftr-493	588	19	lender	lender	NOUN
ftr-493	588	20	may	may	AUX
ftr-493	588	21	terminate	terminate	VERB
ftr-493	588	22	the	the	DET
ftr-493	588	23	loan	loan	NOUN
ftr-493	588	24	,	,	PUNCT
ftr-493	588	25	and	and	CCONJ
ftr-493	588	26	thus	thus	ADV
ftr-493	588	27	reacquire	reacquire	VERB
ftr-493	588	28	the	the	DET
ftr-493	588	29	physical	physical	ADJ
ftr-493	588	30	securities	security	NOUN
ftr-493	588	31	,	,	PUNCT
ftr-493	588	32	on	on	ADP
ftr-493	588	33	no	no	DET
ftr-493	588	34	more	more	ADJ
ftr-493	588	35	than	than	ADP
ftr-493	588	36	five	five	NUM
ftr-493	588	37	business	business	NOUN
ftr-493	588	38	day	day	NOUN
ftr-493	588	39	's	's	PART
ftr-493	588	40	notice	notice	NOUN
ftr-493	588	41	.	.	PUNCT
ftr-493	589	1	see	see	VERB
ftr-493	589	2	prop	prop	NOUN
ftr-493	589	3	.	.	PUNCT
ftr-493	590	1	regs	regs	PROPN
ftr-493	590	2	.	.	PUNCT
ftr-493	591	1	§	§	PROPN
ftr-493	591	2	1.1058	1.1058	NUM
ftr-493	591	3	-	-	SYM
ftr-493	591	4	1(b)(3	1(b)(3	NUM
ftr-493	591	5	)	)	PUNCT
ftr-493	591	6	,	,	PUNCT
ftr-493	591	7	48	48	NUM
ftr-493	591	8	fed	fed	PROPN
ftr-493	591	9	.	.	PUNCT
ftr-493	592	1	reg	reg	PROPN
ftr-493	592	2	.	.	PROPN
ftr-493	593	1	33,912	33,912	NUM
ftr-493	593	2	(	(	PUNCT
ftr-493	593	3	1983	1983	NUM
ftr-493	593	4	)	)	PUNCT
ftr-493	593	5	.	.	PUNCT
ftr-493	594	1	81	81	NUM
ftr-493	594	2	.	.	PUNCT
ftr-493	595	1	it	it	PRON
ftr-493	595	2	is	be	AUX
ftr-493	595	3	probably	probably	ADV
ftr-493	595	4	the	the	DET
ftr-493	595	5	case	case	NOUN
ftr-493	595	6	,	,	PUNCT
ftr-493	595	7	of	of	ADP
ftr-493	595	8	course	course	NOUN
ftr-493	595	9	,	,	PUNCT
ftr-493	595	10	that	that	ADV
ftr-493	595	11	many	many	ADJ
ftr-493	595	12	,	,	PUNCT
ftr-493	595	13	perhaps	perhaps	ADV
ftr-493	595	14	most	most	ADJ
ftr-493	595	15	,	,	PUNCT
ftr-493	595	16	counterparties	counterpartie	NOUN
ftr-493	595	17	will	will	AUX
ftr-493	595	18	hedge	hedge	VERB
ftr-493	595	19	their	their	PRON
ftr-493	595	20	obligations	obligation	NOUN
ftr-493	595	21	to	to	PART
ftr-493	595	22	make	make	VERB
ftr-493	595	23	equity	equity	NOUN
ftr-493	595	24	-	-	PUNCT
ftr-493	595	25	based	base	VERB
ftr-493	595	26	payments	payment	NOUN
ftr-493	595	27	under	under	ADP
ftr-493	595	28	the	the	DET
ftr-493	595	29	swap	swap	NOUN
ftr-493	595	30	by	by	ADP
ftr-493	595	31	holding	hold	VERB
ftr-493	595	32	physical	physical	ADJ
ftr-493	595	33	stocks	stock	NOUN
ftr-493	595	34	.	.	PUNCT
ftr-493	596	1	82	82	NUM
ftr-493	596	2	.	.	PUNCT
ftr-493	597	1	this	this	PRON
ftr-493	597	2	would	would	AUX
ftr-493	597	3	not	not	PART
ftr-493	597	4	be	be	AUX
ftr-493	597	5	the	the	DET
ftr-493	597	6	case	case	NOUN
ftr-493	597	7	,	,	PUNCT
ftr-493	597	8	however	however	ADV
ftr-493	597	9	,	,	PUNCT
ftr-493	597	10	if	if	SCONJ
ftr-493	597	11	the	the	DET
ftr-493	597	12	u.s	u.s	PROPN
ftr-493	597	13	.	.	PROPN
ftr-493	597	14	counterparty	counterparty	PROPN
ftr-493	597	15	hedged	hedge	VERB
ftr-493	597	16	its	its	PRON
ftr-493	597	17	exposure	exposure	NOUN
ftr-493	597	18	on	on	ADP
ftr-493	597	19	the	the	DET
ftr-493	597	20	swap	swap	NOUN
ftr-493	597	21	by	by	ADP
ftr-493	597	22	holding	hold	VERB
ftr-493	597	23	physical	physical	ADJ
ftr-493	597	24	securities	security	NOUN
ftr-493	597	25	.	.	PUNCT
ftr-493	598	1	in	in	ADP
ftr-493	598	2	such	such	ADJ
ftr-493	598	3	case	case	NOUN
ftr-493	598	4	,	,	PUNCT
ftr-493	598	5	while	while	SCONJ
ftr-493	598	6	receipt	receipt	NOUN
ftr-493	598	7	of	of	ADP
ftr-493	598	8	the	the	DET
ftr-493	598	9	dividend	dividend	NOUN
ftr-493	598	10	would	would	AUX
ftr-493	598	11	be	be	AUX
ftr-493	598	12	includable	includable	ADJ
ftr-493	598	13	in	in	ADP
ftr-493	598	14	the	the	DET
ftr-493	598	15	u.s	u.s	PROPN
ftr-493	598	16	.	.	PROPN
ftr-493	598	17	counterparty	counterparty	PROPN
ftr-493	598	18	's	's	PART
ftr-493	598	19	gross	gross	ADJ
ftr-493	598	20	income	income	NOUN
ftr-493	598	21	,	,	PUNCT
ftr-493	598	22	the	the	DET
ftr-493	598	23	u.s	u.s	PROPN
ftr-493	598	24	.	.	PROPN
ftr-493	598	25	counterparty	counterparty	PROPN
ftr-493	598	26	would	would	AUX
ftr-493	598	27	be	be	AUX
ftr-493	598	28	entitled	entitle	VERB
ftr-493	598	29	to	to	ADP
ftr-493	598	30	an	an	DET
ftr-493	598	31	offsetting	offset	VERB
ftr-493	598	32	deduction	deduction	NOUN
ftr-493	598	33	for	for	ADP
ftr-493	598	34	the	the	DET
ftr-493	598	35	related	relate	VERB
ftr-493	598	36	payment	payment	NOUN
ftr-493	598	37	made	make	VERB
ftr-493	598	38	to	to	ADP
ftr-493	598	39	the	the	DET
ftr-493	598	40	non	non	ADJ
ftr-493	598	41	-	-	ADJ
ftr-493	598	42	u.s	u.s	PROPN
ftr-493	598	43	.	.	PROPN
ftr-493	598	44	counterparty	counterparty	PROPN
ftr-493	598	45	under	under	ADP
ftr-493	598	46	the	the	DET
ftr-493	598	47	swap	swap	NOUN
ftr-493	598	48	.	.	PUNCT
ftr-493	599	1	thus	thus	ADV
ftr-493	599	2	,	,	PUNCT
ftr-493	599	3	unless	unless	SCONJ
ftr-493	599	4	the	the	DET
ftr-493	599	5	swap	swap	NOUN
ftr-493	599	6	payment	payment	NOUN
ftr-493	599	7	were	be	AUX
ftr-493	599	8	subject	subject	ADJ
ftr-493	599	9	to	to	ADP
ftr-493	599	10	withholding	withholding	NOUN
ftr-493	599	11	tax	tax	NOUN
ftr-493	599	12	,	,	PUNCT
ftr-493	599	13	the	the	DET
ftr-493	599	14	dividend	dividend	NOUN
ftr-493	599	15	would	would	AUX
ftr-493	599	16	have	have	AUX
ftr-493	599	17	escaped	escape	VERB
ftr-493	599	18	u.s	u.s	PROPN
ftr-493	599	19	.	.	PROPN
ftr-493	599	20	tax	tax	NOUN
ftr-493	599	21	.	.	PUNCT
ftr-493	600	1	while	while	SCONJ
ftr-493	600	2	this	this	PRON
ftr-493	600	3	might	might	AUX
ftr-493	600	4	suggest	suggest	VERB
ftr-493	600	5	that	that	SCONJ
ftr-493	600	6	a	a	DET
ftr-493	600	7	distinction	distinction	NOUN
ftr-493	600	8	should	should	AUX
ftr-493	600	9	be	be	AUX
ftr-493	600	10	drawn	draw	VERB
ftr-493	600	11	between	between	ADP
ftr-493	600	12	a	a	DET
ftr-493	600	13	case	case	NOUN
ftr-493	600	14	where	where	SCONJ
ftr-493	600	15	the	the	DET
ftr-493	600	16	u.s	u.s	PROPN
ftr-493	600	17	.	.	PROPN
ftr-493	600	18	counterparty	counterparty	PROPN
ftr-493	600	19	hedges	hedge	VERB
ftr-493	600	20	its	its	PRON
ftr-493	600	21	exposure	exposure	NOUN
ftr-493	600	22	using	use	VERB
ftr-493	600	23	physical	physical	ADJ
ftr-493	600	24	stock	stock	NOUN
ftr-493	600	25	,	,	PUNCT
ftr-493	600	26	and	and	CCONJ
ftr-493	600	27	one	one	NUM
ftr-493	600	28	where	where	SCONJ
ftr-493	600	29	it	it	PRON
ftr-493	600	30	does	do	VERB
ftr-493	600	31	not	not	PART
ftr-493	600	32	,	,	PUNCT
ftr-493	600	33	it	it	PRON
ftr-493	600	34	would	would	AUX
ftr-493	600	35	certainly	certainly	ADV
ftr-493	600	36	be	be	AUX
ftr-493	600	37	strange	strange	ADJ
ftr-493	600	38	if	if	SCONJ
ftr-493	600	39	the	the	DET
ftr-493	600	40	non	non	ADJ
ftr-493	600	41	-	-	ADJ
ftr-493	600	42	u.s	u.s	PROPN
ftr-493	600	43	.	.	PROPN
ftr-493	600	44	counterparty	counterparty	PROPN
ftr-493	600	45	's	's	PART
ftr-493	600	46	tax	tax	NOUN
ftr-493	600	47	treatment	treatment	NOUN
ftr-493	600	48	turned	turn	VERB
ftr-493	600	49	on	on	ADP
ftr-493	600	50	how	how	SCONJ
ftr-493	600	51	the	the	DET
ftr-493	600	52	u.s	u.s	PROPN
ftr-493	600	53	.	.	PROPN
ftr-493	600	54	counterparty	counterparty	PROPN
ftr-493	600	55	hedged	hedge	VERB
ftr-493	600	56	its	its	PRON
ftr-493	600	57	exposure	exposure	NOUN
ftr-493	600	58	under	under	ADP
ftr-493	600	59	the	the	DET
ftr-493	600	60	swap	swap	NOUN
ftr-493	600	61	.	.	PUNCT
ftr-493	601	1	given	give	VERB
ftr-493	601	2	the	the	DET
ftr-493	601	3	look	look	VERB
ftr-493	601	4	-	-	PUNCT
ftr-493	601	5	through	through	ADP
ftr-493	601	6	treatment	treatment	NOUN
ftr-493	601	7	mandated	mandate	VERB
ftr-493	601	8	by	by	ADP
ftr-493	601	9	the	the	DET
ftr-493	601	10	proposed	propose	VERB
ftr-493	601	11	securities	security	NOUN
ftr-493	601	12	lending	lending	NOUN
ftr-493	601	13	regulations	regulation	NOUN
ftr-493	601	14	,	,	PUNCT
ftr-493	601	15	the	the	DET
ftr-493	601	16	potential	potential	NOUN
ftr-493	601	17	for	for	ADP
ftr-493	601	18	multiple	multiple	ADJ
ftr-493	601	19	u.s	u.s	PROPN
ftr-493	601	20	.	.	PROPN
ftr-493	601	21	taxation	taxation	NOUN
ftr-493	601	22	discussed	discuss	VERB
ftr-493	601	23	in	in	ADP
ftr-493	601	24	the	the	DET
ftr-493	601	25	text	text	NOUN
ftr-493	601	26	would	would	AUX
ftr-493	601	27	also	also	ADV
ftr-493	601	28	exist	exist	VERB
ftr-493	601	29	in	in	ADP
ftr-493	601	30	any	any	DET
ftr-493	601	31	case	case	NOUN
ftr-493	601	32	where	where	SCONJ
ftr-493	601	33	a	a	DET
ftr-493	601	34	stock	stock	NOUN
ftr-493	601	35	lending	lending	NOUN
ftr-493	601	36	arrangement	arrangement	NOUN
ftr-493	601	37	involves	involve	VERB
ftr-493	601	38	a	a	DET
ftr-493	601	39	u.s	u.s	PROPN
ftr-493	601	40	.	.	PROPN
ftr-493	601	41	borrower	borrower	NOUN
ftr-493	601	42	and	and	CCONJ
ftr-493	601	43	a	a	DET
ftr-493	601	44	non	non	ADJ
ftr-493	601	45	-	-	ADJ
ftr-493	601	46	u.s	u.s	ADJ
ftr-493	601	47	.	.	PROPN
ftr-493	601	48	lender	lender	NOUN
ftr-493	601	49	and	and	CCONJ
ftr-493	601	50	the	the	DET
ftr-493	601	51	borrower	borrower	NOUN
ftr-493	601	52	sells	sell	VERB
ftr-493	601	53	the	the	DET
ftr-493	601	54	borrowed	borrow	VERB
ftr-493	601	55	stock	stock	NOUN
ftr-493	601	56	short	short	ADJ
ftr-493	601	57	to	to	ADP
ftr-493	601	58	a	a	DET
ftr-493	601	59	third	third	ADJ
ftr-493	601	60	party	party	NOUN
ftr-493	601	61	(	(	PUNCT
ftr-493	601	62	i.e.	i.e.	X
ftr-493	601	63	,	,	PUNCT
ftr-493	601	64	goes	go	VERB
ftr-493	601	65	unhedged	unhedged	ADJ
ftr-493	601	66	)	)	PUNCT
ftr-493	601	67	.	.	PUNCT
ftr-493	602	1	query	query	NOUN
ftr-493	603	1	[	[	X
ftr-493	603	2	vol	vol	X
ftr-493	603	3	1:5	1:5	NUM
ftr-493	603	4	selected	select	VERB
ftr-493	603	5	issues	issue	NOUN
ftr-493	603	6	in	in	ADP
ftr-493	603	7	the	the	DET
ftr-493	603	8	taation	taation	NOUN
ftr-493	603	9	of	of	ADP
ftr-493	603	10	swaps	swap	NOUN
ftr-493	603	11	d.	d.	PROPN
ftr-493	603	12	section	section	NOUN
ftr-493	603	13	382	382	NUM
ftr-493	603	14	and	and	CCONJ
ftr-493	603	15	swaps	swap	NOUN
ftr-493	603	16	this	this	DET
ftr-493	603	17	subpart	subpart	NOUN
ftr-493	603	18	explores	explore	NOUN
ftr-493	603	19	an	an	DET
ftr-493	603	20	issue	issue	NOUN
ftr-493	603	21	that	that	SCONJ
ftr-493	603	22	,	,	PUNCT
ftr-493	603	23	while	while	SCONJ
ftr-493	603	24	not	not	PART
ftr-493	603	25	directly	directly	ADV
ftr-493	603	26	involving	involve	VERB
ftr-493	603	27	the	the	DET
ftr-493	603	28	taxation	taxation	NOUN
ftr-493	603	29	of	of	ADP
ftr-493	603	30	swaps	swap	NOUN
ftr-493	603	31	,	,	PUNCT
ftr-493	603	32	has	have	AUX
ftr-493	603	33	increasing	increase	VERB
ftr-493	603	34	relevance	relevance	NOUN
ftr-493	603	35	to	to	PART
ftr-493	603	36	end	end	VERB
ftr-493	603	37	users	user	NOUN
ftr-493	603	38	of	of	ADP
ftr-493	603	39	swaps	swap	NOUN
ftr-493	603	40	.	.	PUNCT
ftr-493	604	1	as	as	SCONJ
ftr-493	604	2	swaps	swap	NOUN
ftr-493	604	3	have	have	AUX
ftr-493	604	4	become	become	VERB
ftr-493	604	5	an	an	DET
ftr-493	604	6	increasingly	increasingly	ADV
ftr-493	604	7	important	important	ADJ
ftr-493	604	8	tool	tool	NOUN
ftr-493	604	9	for	for	ADP
ftr-493	604	10	corporate	corporate	ADJ
ftr-493	604	11	america	america	PROPN
ftr-493	604	12	for	for	ADP
ftr-493	604	13	purposes	purpose	NOUN
ftr-493	604	14	of	of	ADP
ftr-493	604	15	managing	manage	VERB
ftr-493	604	16	asset	asset	NOUN
ftr-493	604	17	and	and	CCONJ
ftr-493	604	18	liability	liability	NOUN
ftr-493	604	19	exposures	exposure	NOUN
ftr-493	604	20	,	,	PUNCT
ftr-493	604	21	they	they	PRON
ftr-493	604	22	have	have	AUX
ftr-493	604	23	begun	begin	VERB
ftr-493	604	24	to	to	PART
ftr-493	604	25	appear	appear	VERB
ftr-493	604	26	more	more	ADV
ftr-493	604	27	frequently	frequently	ADV
ftr-493	604	28	on	on	ADP
ftr-493	604	29	the	the	DET
ftr-493	604	30	balance	balance	NOUN
ftr-493	604	31	sheets	sheet	NOUN
ftr-493	604	32	of	of	ADP
ftr-493	604	33	"	"	PUNCT
ftr-493	604	34	loss	loss	NOUN
ftr-493	604	35	corporations	corporation	NOUN
ftr-493	604	36	"	"	PUNCT
ftr-493	604	37	undergoing	undergo	VERB
ftr-493	604	38	ownership	ownership	NOUN
ftr-493	604	39	changes	change	NOUN
ftr-493	604	40	for	for	ADP
ftr-493	604	41	purposes	purpose	NOUN
ftr-493	604	42	of	of	ADP
ftr-493	604	43	section	section	NOUN
ftr-493	604	44	382	382	NUM
ftr-493	604	45	.	.	PUNCT
ftr-493	605	1	the	the	DET
ftr-493	605	2	question	question	NOUN
ftr-493	605	3	thus	thus	ADV
ftr-493	605	4	arises	arise	VERB
ftr-493	605	5	as	as	ADP
ftr-493	605	6	to	to	ADP
ftr-493	605	7	how	how	SCONJ
ftr-493	605	8	swaps	swap	NOUN
ftr-493	605	9	are	be	AUX
ftr-493	605	10	to	to	PART
ftr-493	605	11	be	be	AUX
ftr-493	605	12	treated	treat	VERB
ftr-493	605	13	for	for	ADP
ftr-493	605	14	purposes	purpose	NOUN
ftr-493	605	15	of	of	ADP
ftr-493	605	16	the	the	DET
ftr-493	605	17	"	"	PUNCT
ftr-493	605	18	built	build	VERB
ftr-493	605	19	-	-	PUNCT
ftr-493	605	20	in	in	ADP
ftr-493	605	21	gain	gain	NOUN
ftr-493	605	22	and	and	CCONJ
ftr-493	605	23	loss	loss	NOUN
ftr-493	605	24	"	"	PUNCT
ftr-493	605	25	rules	rule	NOUN
ftr-493	605	26	of	of	ADP
ftr-493	605	27	section	section	NOUN
ftr-493	605	28	382(h	382(h	PROPN
ftr-493	605	29	)	)	PUNCT
ftr-493	605	30	.	.	PUNCT
ftr-493	606	1	a	a	DET
ftr-493	606	2	swap	swap	NOUN
ftr-493	606	3	is	be	AUX
ftr-493	606	4	a	a	DET
ftr-493	606	5	somewhat	somewhat	ADV
ftr-493	606	6	strange	strange	ADJ
ftr-493	606	7	animal	animal	NOUN
ftr-493	606	8	.	.	PUNCT
ftr-493	607	1	like	like	ADP
ftr-493	607	2	the	the	DET
ftr-493	607	3	lessee	lessee	NOUN
ftr-493	607	4	's	's	PART
ftr-493	607	5	interest	interest	NOUN
ftr-493	607	6	in	in	ADP
ftr-493	607	7	a	a	DET
ftr-493	607	8	leasehold	leasehold	NOUN
ftr-493	607	9	,	,	PUNCT
ftr-493	607	10	it	it	PRON
ftr-493	607	11	is	be	AUX
ftr-493	607	12	a	a	DET
ftr-493	607	13	combination	combination	NOUN
ftr-493	607	14	of	of	ADP
ftr-493	607	15	an	an	DET
ftr-493	607	16	asset	asset	NOUN
ftr-493	607	17	(	(	PUNCT
ftr-493	607	18	namely	namely	ADV
ftr-493	607	19	,	,	PUNCT
ftr-493	607	20	the	the	DET
ftr-493	607	21	right	right	NOUN
ftr-493	607	22	to	to	PART
ftr-493	607	23	receive	receive	VERB
ftr-493	607	24	payments	payment	NOUN
ftr-493	607	25	from	from	ADP
ftr-493	607	26	the	the	DET
ftr-493	607	27	swap	swap	NOUN
ftr-493	607	28	counterparty	counterparty	NOUN
ftr-493	607	29	)	)	PUNCT
ftr-493	607	30	and	and	CCONJ
ftr-493	607	31	a	a	DET
ftr-493	607	32	liability	liability	NOUN
ftr-493	607	33	(	(	PUNCT
ftr-493	607	34	namely	namely	ADV
ftr-493	607	35	,	,	PUNCT
ftr-493	607	36	the	the	DET
ftr-493	607	37	obligation	obligation	NOUN
ftr-493	607	38	to	to	PART
ftr-493	607	39	make	make	VERB
ftr-493	607	40	payments	payment	NOUN
ftr-493	607	41	to	to	ADP
ftr-493	607	42	the	the	DET
ftr-493	607	43	swap	swap	NOUN
ftr-493	607	44	counterparty	counterparty	NOUN
ftr-493	607	45	)	)	PUNCT
ftr-493	607	46	.	.	PUNCT
ftr-493	608	1	thus	thus	ADV
ftr-493	608	2	,	,	PUNCT
ftr-493	608	3	at	at	ADP
ftr-493	608	4	any	any	DET
ftr-493	608	5	given	give	VERB
ftr-493	608	6	time	time	NOUN
ftr-493	608	7	,	,	PUNCT
ftr-493	608	8	in	in	ADP
ftr-493	608	9	relation	relation	NOUN
ftr-493	608	10	to	to	ADP
ftr-493	608	11	any	any	DET
ftr-493	608	12	given	give	VERB
ftr-493	608	13	counterparty	counterparty	NOUN
ftr-493	608	14	,	,	PUNCT
ftr-493	608	15	a	a	DET
ftr-493	608	16	swap	swap	NOUN
ftr-493	608	17	may	may	AUX
ftr-493	608	18	have	have	VERB
ftr-493	608	19	either	either	CCONJ
ftr-493	608	20	a	a	DET
ftr-493	608	21	positive	positive	ADJ
ftr-493	608	22	or	or	CCONJ
ftr-493	608	23	a	a	DET
ftr-493	608	24	negative	negative	ADJ
ftr-493	608	25	value	value	NOUN
ftr-493	608	26	,	,	PUNCT
ftr-493	608	27	depending	depend	VERB
ftr-493	608	28	on	on	ADP
ftr-493	608	29	the	the	DET
ftr-493	608	30	relationship	relationship	NOUN
ftr-493	608	31	between	between	ADP
ftr-493	608	32	the	the	DET
ftr-493	608	33	present	present	ADJ
ftr-493	608	34	value	value	NOUN
ftr-493	608	35	of	of	ADP
ftr-493	608	36	the	the	DET
ftr-493	608	37	asset	asset	NOUN
ftr-493	608	38	leg	leg	NOUN
ftr-493	608	39	of	of	ADP
ftr-493	608	40	the	the	DET
ftr-493	608	41	swap	swap	NOUN
ftr-493	608	42	and	and	CCONJ
ftr-493	608	43	the	the	DET
ftr-493	608	44	present	present	ADJ
ftr-493	608	45	value	value	NOUN
ftr-493	608	46	of	of	ADP
ftr-493	608	47	the	the	DET
ftr-493	608	48	liability	liability	NOUN
ftr-493	608	49	leg	leg	NOUN
ftr-493	608	50	.	.	PUNCT
ftr-493	608	51	'	'	PUNCT
ftr-493	608	52	take	take	VERB
ftr-493	608	53	,	,	PUNCT
ftr-493	608	54	for	for	ADP
ftr-493	608	55	example	example	NOUN
ftr-493	608	56	,	,	PUNCT
ftr-493	608	57	the	the	DET
ftr-493	608	58	interest	interest	NOUN
ftr-493	608	59	rate	rate	NOUN
ftr-493	608	60	swap	swap	NOUN
ftr-493	608	61	described	describe	VERB
ftr-493	608	62	earlier	early	ADV
ftr-493	608	63	.	.	PUNCT
ftr-493	609	1	depending	depend	VERB
ftr-493	609	2	on	on	ADP
ftr-493	609	3	the	the	DET
ftr-493	609	4	relative	relative	ADJ
ftr-493	609	5	changes	change	NOUN
ftr-493	609	6	in	in	ADP
ftr-493	609	7	interest	interest	NOUN
ftr-493	609	8	rates	rate	NOUN
ftr-493	609	9	since	since	SCONJ
ftr-493	609	10	the	the	DET
ftr-493	609	11	inception	inception	NOUN
ftr-493	609	12	of	of	ADP
ftr-493	609	13	the	the	DET
ftr-493	609	14	swap	swap	NOUN
ftr-493	609	15	,	,	PUNCT
ftr-493	609	16	this	this	DET
ftr-493	609	17	swap	swap	NOUN
ftr-493	609	18	at	at	ADP
ftr-493	609	19	any	any	DET
ftr-493	609	20	time	time	NOUN
ftr-493	609	21	will	will	AUX
ftr-493	609	22	have	have	VERB
ftr-493	609	23	either	either	CCONJ
ftr-493	609	24	a	a	DET
ftr-493	609	25	positive	positive	ADJ
ftr-493	609	26	or	or	CCONJ
ftr-493	609	27	a	a	DET
ftr-493	609	28	negative	negative	ADJ
ftr-493	609	29	value	value	NOUN
ftr-493	609	30	to	to	ADP
ftr-493	609	31	one	one	NUM
ftr-493	609	32	of	of	ADP
ftr-493	609	33	the	the	DET
ftr-493	609	34	counterparties	counterpartie	NOUN
ftr-493	609	35	,	,	PUNCT
ftr-493	609	36	for	for	ADP
ftr-493	609	37	example	example	NOUN
ftr-493	609	38	,	,	PUNCT
ftr-493	609	39	a	a	PRON
ftr-493	609	40	,	,	PUNCT
ftr-493	609	41	and	and	CCONJ
ftr-493	609	42	a	a	DET
ftr-493	609	43	negative	negative	ADJ
ftr-493	609	44	or	or	CCONJ
ftr-493	609	45	a	a	DET
ftr-493	609	46	positive	positive	ADJ
ftr-493	609	47	value	value	NOUN
ftr-493	609	48	of	of	ADP
ftr-493	609	49	an	an	DET
ftr-493	609	50	equal	equal	ADJ
ftr-493	609	51	amount	amount	NOUN
ftr-493	609	52	to	to	ADP
ftr-493	609	53	the	the	DET
ftr-493	609	54	other	other	ADJ
ftr-493	609	55	counterparty	counterparty	NOUN
ftr-493	609	56	,	,	PUNCT
ftr-493	609	57	for	for	ADP
ftr-493	609	58	example	example	NOUN
ftr-493	609	59	,	,	PUNCT
ftr-493	609	60	b.	b.	PROPN
ftr-493	609	61	'	'	PUNCT
ftr-493	610	1	this	this	PRON
ftr-493	610	2	is	be	AUX
ftr-493	610	3	equivalent	equivalent	ADJ
ftr-493	610	4	to	to	ADP
ftr-493	610	5	saying	say	VERB
ftr-493	610	6	that	that	SCONJ
ftr-493	610	7	,	,	PUNCT
ftr-493	610	8	where	where	SCONJ
ftr-493	610	9	the	the	DET
ftr-493	610	10	swap	swap	NOUN
ftr-493	610	11	has	have	VERB
ftr-493	610	12	a	a	DET
ftr-493	610	13	negative	negative	ADJ
ftr-493	610	14	value	value	NOUN
ftr-493	610	15	of	of	ADP
ftr-493	610	16	$	$	SYM
ftr-493	610	17	10	10	NUM
ftr-493	610	18	to	to	ADP
ftr-493	610	19	a	a	PRON
ftr-493	610	20	,	,	PUNCT
ftr-493	610	21	a	a	PRON
ftr-493	610	22	would	would	AUX
ftr-493	610	23	have	have	VERB
ftr-493	610	24	to	to	PART
ftr-493	610	25	pay	pay	VERB
ftr-493	610	26	b	b	NOUN
ftr-493	610	27	or	or	CCONJ
ftr-493	610	28	a	a	DET
ftr-493	610	29	third	third	ADJ
ftr-493	610	30	party	party	NOUN
ftr-493	610	31	$	$	SYM
ftr-493	610	32	10	10	NUM
ftr-493	610	33	to	to	PART
ftr-493	610	34	terminate	terminate	VERB
ftr-493	610	35	or	or	CCONJ
ftr-493	610	36	assign	assign	VERB
ftr-493	610	37	the	the	DET
ftr-493	610	38	swap	swap	NOUN
ftr-493	610	39	;	;	PUNCT
ftr-493	610	40	similarly	similarly	ADV
ftr-493	610	41	,	,	PUNCT
ftr-493	610	42	where	where	SCONJ
ftr-493	610	43	the	the	DET
ftr-493	610	44	swap	swap	NOUN
ftr-493	610	45	has	have	VERB
ftr-493	610	46	a	a	DET
ftr-493	610	47	positive	positive	ADJ
ftr-493	610	48	value	value	NOUN
ftr-493	610	49	of	of	ADP
ftr-493	610	50	$	$	SYM
ftr-493	610	51	10	10	NUM
ftr-493	610	52	to	to	ADP
ftr-493	610	53	a	a	DET
ftr-493	610	54	,	,	PUNCT
ftr-493	610	55	b	b	NOUN
ftr-493	610	56	or	or	CCONJ
ftr-493	610	57	a	a	DET
ftr-493	610	58	third	third	ADJ
ftr-493	610	59	party	party	NOUN
ftr-493	610	60	would	would	AUX
ftr-493	610	61	have	have	VERB
ftr-493	610	62	to	to	PART
ftr-493	610	63	pay	pay	VERB
ftr-493	610	64	a	a	DET
ftr-493	610	65	$	$	SYM
ftr-493	610	66	10	10	NUM
ftr-493	610	67	to	to	PART
ftr-493	610	68	induce	induce	VERB
ftr-493	610	69	a	a	PRON
ftr-493	610	70	to	to	PART
ftr-493	610	71	terminate	terminate	VERB
ftr-493	610	72	or	or	CCONJ
ftr-493	610	73	assign	assign	VERB
ftr-493	610	74	the	the	DET
ftr-493	610	75	swap	swap	NOUN
ftr-493	610	76	.	.	PUNCT
ftr-493	611	1	how	how	SCONJ
ftr-493	611	2	are	be	AUX
ftr-493	611	3	swaps	swap	NOUN
ftr-493	611	4	then	then	ADV
ftr-493	611	5	to	to	PART
ftr-493	611	6	be	be	AUX
ftr-493	611	7	treated	treat	VERB
ftr-493	611	8	for	for	ADP
ftr-493	611	9	purposes	purpose	NOUN
ftr-493	611	10	of	of	ADP
ftr-493	611	11	section	section	NOUN
ftr-493	611	12	382(h	382(h	PROPN
ftr-493	611	13	)	)	PUNCT
ftr-493	611	14	?	?	PUNCT
ftr-493	612	1	section	section	NOUN
ftr-493	612	2	382(h	382(h	PROPN
ftr-493	612	3	)	)	PUNCT
ftr-493	612	4	provides	provide	VERB
ftr-493	612	5	that	that	SCONJ
ftr-493	612	6	,	,	PUNCT
ftr-493	612	7	for	for	ADP
ftr-493	612	8	any	any	DET
ftr-493	612	9	year	year	NOUN
ftr-493	612	10	during	during	ADP
ftr-493	612	11	the	the	DET
ftr-493	612	12	five	five	NUM
ftr-493	612	13	-	-	PUNCT
ftr-493	612	14	year	year	NOUN
ftr-493	612	15	period	period	NOUN
ftr-493	612	16	after	after	ADP
ftr-493	612	17	an	an	DET
ftr-493	612	18	ownership	ownership	NOUN
ftr-493	612	19	change	change	NOUN
ftr-493	612	20	(	(	PUNCT
ftr-493	612	21	the	the	DET
ftr-493	612	22	"	"	PUNCT
ftr-493	612	23	recognition	recognition	NOUN
ftr-493	612	24	period	period	NOUN
ftr-493	612	25	"	"	PUNCT
ftr-493	612	26	)	)	PUNCT
ftr-493	612	27	,	,	PUNCT
ftr-493	612	28	the	the	DET
ftr-493	612	29	loss	loss	NOUN
ftr-493	612	30	corporation	corporation	NOUN
ftr-493	612	31	's	's	PART
ftr-493	612	32	whether	whether	SCONJ
ftr-493	612	33	equity	equity	NOUN
ftr-493	612	34	swaps	swap	NOUN
ftr-493	612	35	or	or	CCONJ
ftr-493	612	36	stock	stock	NOUN
ftr-493	612	37	loan	loan	NOUN
ftr-493	612	38	transactions	transaction	NOUN
ftr-493	612	39	are	be	AUX
ftr-493	612	40	more	more	ADV
ftr-493	612	41	likely	likely	ADJ
ftr-493	612	42	to	to	PART
ftr-493	612	43	involve	involve	VERB
ftr-493	612	44	liabilities	liability	NOUN
ftr-493	612	45	unhedged	unhedge	VERB
ftr-493	612	46	by	by	ADP
ftr-493	612	47	ownership	ownership	NOUN
ftr-493	612	48	of	of	ADP
ftr-493	612	49	physical	physical	ADJ
ftr-493	612	50	stocks	stock	NOUN
ftr-493	612	51	.	.	PUNCT
ftr-493	613	1	see	see	VERB
ftr-493	613	2	also	also	ADV
ftr-493	613	3	tax	tax	NOUN
ftr-493	613	4	section	section	NOUN
ftr-493	613	5	,	,	PUNCT
ftr-493	613	6	new	new	PROPN
ftr-493	613	7	york	york	PROPN
ftr-493	613	8	state	state	PROPN
ftr-493	613	9	bar	bar	PROPN
ftr-493	613	10	association	association	NOUN
ftr-493	613	11	.	.	PUNCT
ftr-493	614	1	report	report	VERB
ftr-493	614	2	no	no	INTJ
ftr-493	614	3	.	.	NOUN
ftr-493	614	4	275	275	NUM
ftr-493	614	5	:	:	PUNCT
ftr-493	614	6	report	report	NOUN
ftr-493	614	7	on	on	ADP
ftr-493	614	8	proposed	propose	VERB
ftr-493	614	9	regulations	regulation	NOUN
ftr-493	614	10	on	on	ADP
ftr-493	614	11	certain	certain	ADJ
ftr-493	614	12	payments	payment	NOUN
ftr-493	614	13	made	make	VERB
ftr-493	614	14	pursuant	pursuant	ADJ
ftr-493	614	15	to	to	ADP
ftr-493	614	16	securities	security	NOUN
ftr-493	614	17	lending	lending	NOUN
ftr-493	614	18	transactions	transaction	NOUN
ftr-493	614	19	12	12	NUM
ftr-493	614	20	-	-	SYM
ftr-493	614	21	16	16	NUM
ftr-493	614	22	(	(	PUNCT
ftr-493	614	23	1992	1992	NUM
ftr-493	614	24	)	)	PUNCT
ftr-493	614	25	(	(	PUNCT
ftr-493	614	26	discussing	discuss	VERB
ftr-493	614	27	the	the	DET
ftr-493	614	28	policy	policy	NOUN
ftr-493	614	29	objectives	objective	NOUN
ftr-493	614	30	underlying	underlie	VERB
ftr-493	614	31	the	the	DET
ftr-493	614	32	proposed	propose	VERB
ftr-493	614	33	securities	security	NOUN
ftr-493	614	34	lending	lending	NOUN
ftr-493	614	35	regulations	regulation	NOUN
ftr-493	614	36	'	'	PART
ftr-493	614	37	treatment	treatment	NOUN
ftr-493	614	38	of	of	ADP
ftr-493	614	39	substitute	substitute	NOUN
ftr-493	614	40	dividend	dividend	NOUN
ftr-493	614	41	and	and	CCONJ
ftr-493	614	42	interest	interest	NOUN
ftr-493	614	43	payments	payment	NOUN
ftr-493	614	44	as	as	ADP
ftr-493	614	45	dividend	dividend	NOUN
ftr-493	614	46	and	and	CCONJ
ftr-493	614	47	interest	interest	NOUN
ftr-493	614	48	)	)	PUNCT
ftr-493	614	49	.	.	PUNCT
ftr-493	615	1	83	83	NUM
ftr-493	615	2	.	.	PUNCT
ftr-493	616	1	alternatively	alternatively	ADV
ftr-493	616	2	,	,	PUNCT
ftr-493	616	3	a	a	DET
ftr-493	616	4	swap	swap	NOUN
ftr-493	616	5	might	might	AUX
ftr-493	616	6	be	be	AUX
ftr-493	616	7	viewed	view	VERB
ftr-493	616	8	as	as	ADP
ftr-493	616	9	a	a	DET
ftr-493	616	10	(	(	PUNCT
ftr-493	616	11	net	net	NOUN
ftr-493	616	12	)	)	PUNCT
ftr-493	616	13	asset	asset	NOUN
ftr-493	616	14	when	when	SCONJ
ftr-493	616	15	it	it	PRON
ftr-493	616	16	has	have	VERB
ftr-493	616	17	a	a	DET
ftr-493	616	18	positive	positive	ADJ
ftr-493	616	19	value	value	NOUN
ftr-493	616	20	,	,	PUNCT
ftr-493	616	21	and	and	CCONJ
ftr-493	616	22	a	a	DET
ftr-493	616	23	(	(	PUNCT
ftr-493	616	24	net	net	ADJ
ftr-493	616	25	)	)	PUNCT
ftr-493	616	26	liability	liability	NOUN
ftr-493	616	27	when	when	SCONJ
ftr-493	616	28	it	it	PRON
ftr-493	616	29	has	have	VERB
ftr-493	616	30	a	a	DET
ftr-493	616	31	negative	negative	ADJ
ftr-493	616	32	value	value	NOUN
ftr-493	616	33	.	.	PUNCT
ftr-493	617	1	cf	cf	NOUN
ftr-493	617	2	.	.	PUNCT
ftr-493	618	1	preamble	preamble	VERB
ftr-493	618	2	to	to	PART
ftr-493	618	3	prop	prop	VERB
ftr-493	618	4	.	.	PUNCT
ftr-493	619	1	regs	regs	PROPN
ftr-493	619	2	.	.	PUNCT
ftr-493	620	1	§	§	PROPN
ftr-493	620	2	1.1092(d)-1	1.1092(d)-1	NUM
ftr-493	620	3	,	,	PUNCT
ftr-493	620	4	56	56	NUM
ftr-493	620	5	fed	feed	VERB
ftr-493	620	6	.	.	PUNCT
ftr-493	621	1	reg	reg	PROPN
ftr-493	621	2	.	.	PUNCT
ftr-493	622	1	31,350	31,350	NUM
ftr-493	622	2	(	(	PUNCT
ftr-493	622	3	1991	1991	NUM
ftr-493	622	4	)	)	PUNCT
ftr-493	622	5	(	(	PUNCT
ftr-493	622	6	"	"	PUNCT
ftr-493	622	7	there	there	PRON
ftr-493	622	8	has	have	AUX
ftr-493	622	9	been	be	AUX
ftr-493	622	10	some	some	DET
ftr-493	622	11	question	question	NOUN
ftr-493	622	12	whether	whether	SCONJ
ftr-493	622	13	a	a	DET
ftr-493	622	14	financial	financial	ADJ
ftr-493	622	15	product	product	NOUN
ftr-493	622	16	such	such	ADJ
ftr-493	622	17	as	as	ADP
ftr-493	622	18	an	an	DET
ftr-493	622	19	interest	interest	NOUN
ftr-493	622	20	rate	rate	NOUN
ftr-493	622	21	swap	swap	NOUN
ftr-493	622	22	,	,	PUNCT
ftr-493	622	23	which	which	PRON
ftr-493	622	24	may	may	AUX
ftr-493	622	25	be	be	AUX
ftr-493	622	26	either	either	CCONJ
ftr-493	622	27	an	an	DET
ftr-493	622	28	asset	asset	NOUN
ftr-493	622	29	or	or	CCONJ
ftr-493	622	30	a	a	DET
ftr-493	622	31	liability	liability	NOUN
ftr-493	622	32	depending	depend	VERB
ftr-493	622	33	on	on	ADP
ftr-493	622	34	the	the	DET
ftr-493	622	35	movement	movement	NOUN
ftr-493	622	36	of	of	ADP
ftr-493	622	37	interest	interest	NOUN
ftr-493	622	38	rates	rate	NOUN
ftr-493	622	39	,	,	PUNCT
ftr-493	622	40	constitutes	constitute	VERB
ftr-493	622	41	an	an	DET
ftr-493	622	42	interest	interest	NOUN
ftr-493	622	43	in	in	ADP
ftr-493	622	44	personal	personal	ADJ
ftr-493	622	45	property	property	NOUN
ftr-493	622	46	that	that	PRON
ftr-493	622	47	is	be	AUX
ftr-493	622	48	subject	subject	ADJ
ftr-493	622	49	to	to	ADP
ftr-493	622	50	section	section	NOUN
ftr-493	622	51	1092	1092	NUM
ftr-493	622	52	and	and	CCONJ
ftr-493	622	53	section	section	NOUN
ftr-493	622	54	1234a	1234a	NUM
ftr-493	622	55	"	"	PUNCT
ftr-493	622	56	)	)	PUNCT
ftr-493	622	57	.	.	PUNCT
ftr-493	623	1	84	84	NUM
ftr-493	623	2	.	.	PUNCT
ftr-493	624	1	that	that	PRON
ftr-493	624	2	is	be	AUX
ftr-493	624	3	,	,	PUNCT
ftr-493	624	4	if	if	SCONJ
ftr-493	624	5	the	the	DET
ftr-493	624	6	swap	swap	NOUN
ftr-493	624	7	has	have	VERB
ftr-493	624	8	a	a	DET
ftr-493	624	9	$	$	SYM
ftr-493	624	10	10	10	NUM
ftr-493	624	11	positive	positive	ADJ
ftr-493	624	12	value	value	NOUN
ftr-493	624	13	to	to	ADP
ftr-493	624	14	a	a	PRON
ftr-493	624	15	at	at	ADP
ftr-493	624	16	a	a	DET
ftr-493	624	17	given	give	VERB
ftr-493	624	18	time	time	NOUN
ftr-493	624	19	,	,	PUNCT
ftr-493	624	20	it	it	PRON
ftr-493	624	21	will	will	AUX
ftr-493	624	22	have	have	VERB
ftr-493	624	23	a	a	DET
ftr-493	624	24	$	$	SYM
ftr-493	624	25	10	10	NUM
ftr-493	624	26	negative	negative	ADJ
ftr-493	624	27	value	value	NOUN
ftr-493	624	28	to	to	ADP
ftr-493	624	29	b	b	NOUN
ftr-493	624	30	at	at	ADP
ftr-493	624	31	that	that	DET
ftr-493	624	32	time	time	NOUN
ftr-493	624	33	,	,	PUNCT
ftr-493	624	34	and	and	CCONJ
ftr-493	624	35	vice	vice	ADV
ftr-493	624	36	versa	versa	ADV
ftr-493	624	37	.	.	PUNCT
ftr-493	625	1	19931	19931	NUM
ftr-493	625	2	florida	florida	PROPN
ftr-493	625	3	tax	tax	PROPN
ftr-493	625	4	review	review	NOUN
ftr-493	625	5	annual	annual	ADJ
ftr-493	625	6	limitation	limitation	NOUN
ftr-493	625	7	for	for	ADP
ftr-493	625	8	section	section	NOUN
ftr-493	625	9	382(a	382(a	NUM
ftr-493	625	10	)	)	PUNCT
ftr-493	625	11	purposes	purpose	NOUN
ftr-493	625	12	(	(	PUNCT
ftr-493	625	13	i.e.	i.e.	X
ftr-493	625	14	,	,	PUNCT
ftr-493	625	15	the	the	DET
ftr-493	625	16	amount	amount	NOUN
ftr-493	625	17	of	of	ADP
ftr-493	625	18	taxable	taxable	ADJ
ftr-493	625	19	income	income	NOUN
ftr-493	625	20	for	for	ADP
ftr-493	625	21	such	such	ADJ
ftr-493	625	22	year	year	NOUN
ftr-493	625	23	that	that	PRON
ftr-493	625	24	can	can	AUX
ftr-493	625	25	be	be	AUX
ftr-493	625	26	offset	offset	VERB
ftr-493	625	27	by	by	ADP
ftr-493	625	28	pre	pre	ADJ
ftr-493	625	29	-	-	ADJ
ftr-493	625	30	ownership	ownership	ADJ
ftr-493	625	31	change	change	NOUN
ftr-493	625	32	losses	loss	NOUN
ftr-493	625	33	)	)	PUNCT
ftr-493	625	34	is	be	AUX
ftr-493	625	35	increased	increase	VERB
ftr-493	625	36	by	by	ADP
ftr-493	625	37	the	the	DET
ftr-493	625	38	amount	amount	NOUN
ftr-493	625	39	of	of	ADP
ftr-493	625	40	"	"	PUNCT
ftr-493	625	41	recognized	recognize	VERB
ftr-493	625	42	built	build	VERB
ftr-493	625	43	-	-	PUNCT
ftr-493	625	44	in	in	ADP
ftr-493	625	45	gain	gain	NOUN
ftr-493	625	46	"	"	PUNCT
ftr-493	625	47	for	for	ADP
ftr-493	625	48	that	that	DET
ftr-493	625	49	year	year	NOUN
ftr-493	625	50	.	.	PUNCT
ftr-493	626	1	conversely	conversely	ADV
ftr-493	626	2	,	,	PUNCT
ftr-493	626	3	any	any	DET
ftr-493	626	4	"	"	PUNCT
ftr-493	626	5	recognized	recognize	VERB
ftr-493	626	6	built	build	VERB
ftr-493	626	7	-	-	PUNCT
ftr-493	626	8	in	in	ADP
ftr-493	626	9	loss	loss	NOUN
ftr-493	626	10	"	"	PUNCT
ftr-493	626	11	recognized	recognize	VERB
ftr-493	626	12	by	by	ADP
ftr-493	626	13	the	the	DET
ftr-493	626	14	loss	loss	NOUN
ftr-493	626	15	corporation	corporation	NOUN
ftr-493	626	16	during	during	ADP
ftr-493	626	17	the	the	DET
ftr-493	626	18	recognition	recognition	NOUN
ftr-493	626	19	period	period	NOUN
ftr-493	626	20	is	be	AUX
ftr-493	626	21	treated	treat	VERB
ftr-493	626	22	as	as	ADP
ftr-493	626	23	a	a	DET
ftr-493	626	24	pre	pre	ADJ
ftr-493	626	25	-	-	ADJ
ftr-493	626	26	ownership	ownership	ADJ
ftr-493	626	27	change	change	NOUN
ftr-493	626	28	loss	loss	NOUN
ftr-493	626	29	subject	subject	ADJ
ftr-493	626	30	to	to	ADP
ftr-493	626	31	the	the	DET
ftr-493	626	32	limitations	limitation	NOUN
ftr-493	626	33	of	of	ADP
ftr-493	626	34	section	section	NOUN
ftr-493	626	35	382(a	382(a	PROPN
ftr-493	626	36	)	)	PUNCT
ftr-493	626	37	.	.	PUNCT
ftr-493	627	1	these	these	DET
ftr-493	627	2	rules	rule	NOUN
ftr-493	627	3	only	only	ADV
ftr-493	627	4	apply	apply	VERB
ftr-493	627	5	if	if	SCONJ
ftr-493	627	6	the	the	DET
ftr-493	627	7	loss	loss	NOUN
ftr-493	627	8	corporation	corporation	NOUN
ftr-493	627	9	had	have	VERB
ftr-493	627	10	a	a	DET
ftr-493	627	11	"	"	PUNCT
ftr-493	627	12	net	net	ADJ
ftr-493	627	13	unrealized	unrealize	VERB
ftr-493	627	14	built	build	VERB
ftr-493	627	15	-	-	PUNCT
ftr-493	627	16	in	in	ADP
ftr-493	627	17	gain	gain	NOUN
ftr-493	627	18	"	"	PUNCT
ftr-493	627	19	or	or	CCONJ
ftr-493	627	20	a	a	DET
ftr-493	627	21	"	"	PUNCT
ftr-493	627	22	net	net	ADJ
ftr-493	627	23	unrealized	unrealize	VERB
ftr-493	627	24	built	build	VERB
ftr-493	627	25	-	-	PUNCT
ftr-493	627	26	in	in	ADP
ftr-493	627	27	loss	loss	NOUN
ftr-493	627	28	,	,	PUNCT
ftr-493	627	29	"	"	PUNCT
ftr-493	627	30	as	as	SCONJ
ftr-493	627	31	the	the	DET
ftr-493	627	32	case	case	NOUN
ftr-493	627	33	may	may	AUX
ftr-493	627	34	be	be	AUX
ftr-493	627	35	,	,	PUNCT
ftr-493	627	36	at	at	ADP
ftr-493	627	37	the	the	DET
ftr-493	627	38	time	time	NOUN
ftr-493	627	39	of	of	ADP
ftr-493	627	40	the	the	DET
ftr-493	627	41	ownership	ownership	NOUN
ftr-493	627	42	change	change	NOUN
ftr-493	627	43	.	.	PUNCT
ftr-493	628	1	for	for	ADP
ftr-493	628	2	this	this	DET
ftr-493	628	3	purpose	purpose	NOUN
ftr-493	628	4	,	,	PUNCT
ftr-493	628	5	a	a	DET
ftr-493	628	6	recognized	recognize	VERB
ftr-493	628	7	built	build	VERB
ftr-493	628	8	-	-	PUNCT
ftr-493	628	9	in	in	ADP
ftr-493	628	10	gain	gain	NOUN
ftr-493	628	11	means	mean	VERB
ftr-493	628	12	any	any	DET
ftr-493	628	13	gain	gain	NOUN
ftr-493	628	14	recognized	recognize	VERB
ftr-493	628	15	by	by	ADP
ftr-493	628	16	the	the	DET
ftr-493	628	17	loss	loss	NOUN
ftr-493	628	18	corporation	corporation	NOUN
ftr-493	628	19	during	during	ADP
ftr-493	628	20	the	the	DET
ftr-493	628	21	recognition	recognition	NOUN
ftr-493	628	22	period	period	NOUN
ftr-493	628	23	on	on	ADP
ftr-493	628	24	the	the	DET
ftr-493	628	25	disposition	disposition	NOUN
ftr-493	628	26	of	of	ADP
ftr-493	628	27	an	an	DET
ftr-493	628	28	asset	asset	NOUN
ftr-493	628	29	to	to	ADP
ftr-493	628	30	the	the	DET
ftr-493	628	31	extent	extent	NOUN
ftr-493	628	32	the	the	DET
ftr-493	628	33	loss	loss	NOUN
ftr-493	628	34	corporation	corporation	NOUN
ftr-493	628	35	establishes	establish	VERB
ftr-493	628	36	that	that	SCONJ
ftr-493	628	37	the	the	DET
ftr-493	628	38	asset	asset	NOUN
ftr-493	628	39	was	be	AUX
ftr-493	628	40	held	hold	VERB
ftr-493	628	41	by	by	ADP
ftr-493	628	42	it	it	PRON
ftr-493	628	43	immediately	immediately	ADV
ftr-493	628	44	prior	prior	ADV
ftr-493	628	45	to	to	ADP
ftr-493	628	46	the	the	DET
ftr-493	628	47	ownership	ownership	NOUN
ftr-493	628	48	change	change	NOUN
ftr-493	628	49	and	and	CCONJ
ftr-493	628	50	the	the	DET
ftr-493	628	51	amount	amount	NOUN
ftr-493	628	52	of	of	ADP
ftr-493	628	53	the	the	DET
ftr-493	628	54	recognized	recognize	VERB
ftr-493	628	55	gain	gain	NOUN
ftr-493	628	56	does	do	AUX
ftr-493	628	57	not	not	PART
ftr-493	628	58	exceed	exceed	VERB
ftr-493	628	59	the	the	DET
ftr-493	628	60	gain	gain	NOUN
ftr-493	628	61	inherent	inherent	ADJ
ftr-493	628	62	in	in	ADP
ftr-493	628	63	the	the	DET
ftr-493	628	64	asset	asset	NOUN
ftr-493	628	65	at	at	ADP
ftr-493	628	66	that	that	DET
ftr-493	628	67	time	time	NOUN
ftr-493	628	68	.	.	PUNCT
ftr-493	629	1	subject	subject	ADJ
ftr-493	629	2	to	to	ADP
ftr-493	629	3	a	a	DET
ftr-493	629	4	de	de	X
ftr-493	629	5	minimis	minimis	NOUN
ftr-493	629	6	and	and	CCONJ
ftr-493	629	7	other	other	ADJ
ftr-493	629	8	special	special	ADJ
ftr-493	629	9	rules	rule	NOUN
ftr-493	629	10	,	,	PUNCT
ftr-493	629	11	the	the	DET
ftr-493	629	12	net	net	NOUN
ftr-493	629	13	unrealized	unrealize	VERB
ftr-493	629	14	built	build	VERB
ftr-493	629	15	-	-	PUNCT
ftr-493	629	16	in	in	ADP
ftr-493	629	17	gain	gain	NOUN
ftr-493	629	18	at	at	ADP
ftr-493	629	19	the	the	DET
ftr-493	629	20	time	time	NOUN
ftr-493	629	21	of	of	ADP
ftr-493	629	22	any	any	DET
ftr-493	629	23	ownership	ownership	NOUN
ftr-493	629	24	change	change	NOUN
ftr-493	629	25	equals	equal	VERB
ftr-493	629	26	the	the	DET
ftr-493	629	27	excess	excess	NOUN
ftr-493	629	28	of	of	ADP
ftr-493	629	29	the	the	DET
ftr-493	629	30	aggregate	aggregate	ADJ
ftr-493	629	31	fair	fair	ADJ
ftr-493	629	32	market	market	NOUN
ftr-493	629	33	value	value	NOUN
ftr-493	629	34	of	of	ADP
ftr-493	629	35	the	the	DET
ftr-493	629	36	loss	loss	NOUN
ftr-493	629	37	corporation	corporation	NOUN
ftr-493	629	38	's	's	PART
ftr-493	629	39	assets	asset	NOUN
ftr-493	629	40	immediately	immediately	ADV
ftr-493	629	41	prior	prior	ADV
ftr-493	629	42	to	to	ADP
ftr-493	629	43	the	the	DET
ftr-493	629	44	ownership	ownership	NOUN
ftr-493	629	45	change	change	NOUN
ftr-493	629	46	over	over	ADP
ftr-493	629	47	the	the	DET
ftr-493	629	48	loss	loss	NOUN
ftr-493	629	49	corporation	corporation	NOUN
ftr-493	629	50	's	's	PART
ftr-493	629	51	aggregate	aggregate	ADJ
ftr-493	629	52	tax	tax	NOUN
ftr-493	629	53	basis	basis	NOUN
ftr-493	629	54	in	in	ADP
ftr-493	629	55	those	those	DET
ftr-493	629	56	assets	asset	NOUN
ftr-493	629	57	at	at	ADP
ftr-493	629	58	that	that	DET
ftr-493	629	59	time	time	NOUN
ftr-493	629	60	.	.	PUNCT
ftr-493	630	1	recognized	recognize	VERB
ftr-493	630	2	built	build	VERB
ftr-493	630	3	-	-	PUNCT
ftr-493	630	4	in	in	ADP
ftr-493	630	5	loss	loss	NOUN
ftr-493	630	6	and	and	CCONJ
ftr-493	630	7	net	net	ADJ
ftr-493	630	8	unrealized	unrealize	VERB
ftr-493	630	9	built	build	VERB
ftr-493	630	10	-	-	PUNCT
ftr-493	630	11	in	in	ADP
ftr-493	630	12	loss	loss	NOUN
ftr-493	630	13	are	be	AUX
ftr-493	630	14	defined	define	VERB
ftr-493	630	15	in	in	ADP
ftr-493	630	16	an	an	DET
ftr-493	630	17	analogous	analogous	ADJ
ftr-493	630	18	manner.8	manner.8	NOUN
ftr-493	630	19	5	5	NUM
ftr-493	630	20	the	the	DET
ftr-493	630	21	aggregate	aggregate	ADJ
ftr-493	630	22	amount	amount	NOUN
ftr-493	630	23	of	of	ADP
ftr-493	630	24	recognized	recognize	VERB
ftr-493	630	25	built	build	VERB
ftr-493	630	26	-	-	PUNCT
ftr-493	630	27	in	in	ADP
ftr-493	630	28	gain	gain	NOUN
ftr-493	630	29	or	or	CCONJ
ftr-493	630	30	loss	loss	NOUN
ftr-493	630	31	over	over	ADP
ftr-493	630	32	the	the	DET
ftr-493	630	33	five	five	NUM
ftr-493	630	34	-	-	PUNCT
ftr-493	630	35	year	year	NOUN
ftr-493	630	36	recognition	recognition	NOUN
ftr-493	630	37	period	period	NOUN
ftr-493	630	38	can	can	AUX
ftr-493	630	39	not	not	PART
ftr-493	630	40	exceed	exceed	VERB
ftr-493	630	41	the	the	DET
ftr-493	630	42	net	net	ADJ
ftr-493	630	43	unrealized	unrealize	VERB
ftr-493	630	44	built	build	VERB
ftr-493	630	45	-	-	PUNCT
ftr-493	630	46	in	in	ADP
ftr-493	630	47	gain	gain	NOUN
ftr-493	630	48	or	or	CCONJ
ftr-493	630	49	loss	loss	NOUN
ftr-493	630	50	,	,	PUNCT
ftr-493	630	51	as	as	SCONJ
ftr-493	630	52	the	the	DET
ftr-493	630	53	case	case	NOUN
ftr-493	630	54	may	may	AUX
ftr-493	630	55	,	,	PUNCT
ftr-493	630	56	at	at	ADP
ftr-493	630	57	the	the	DET
ftr-493	630	58	time	time	NOUN
ftr-493	630	59	of	of	ADP
ftr-493	630	60	the	the	DET
ftr-493	630	61	ownership	ownership	NOUN
ftr-493	630	62	change	change	NOUN
ftr-493	630	63	.	.	PUNCT
ftr-493	631	1	how	how	SCONJ
ftr-493	631	2	should	should	AUX
ftr-493	631	3	swaps	swap	NOUN
ftr-493	631	4	be	be	AUX
ftr-493	631	5	treated	treat	VERB
ftr-493	631	6	for	for	ADP
ftr-493	631	7	purposes	purpose	NOUN
ftr-493	631	8	of	of	ADP
ftr-493	631	9	the	the	DET
ftr-493	631	10	section	section	NOUN
ftr-493	631	11	382(h	382(h	PROPN
ftr-493	631	12	)	)	PUNCT
ftr-493	631	13	calculation	calculation	NOUN
ftr-493	631	14	of	of	ADP
ftr-493	631	15	net	net	ADJ
ftr-493	631	16	unrealized	unrealize	VERB
ftr-493	631	17	built	build	VERB
ftr-493	631	18	-	-	PUNCT
ftr-493	631	19	in	in	ADP
ftr-493	631	20	gain	gain	NOUN
ftr-493	631	21	or	or	CCONJ
ftr-493	631	22	loss	loss	NOUN
ftr-493	631	23	?	?	PUNCT
ftr-493	632	1	for	for	ADP
ftr-493	632	2	example	example	NOUN
ftr-493	632	3	,	,	PUNCT
ftr-493	632	4	if	if	SCONJ
ftr-493	632	5	a	a	DET
ftr-493	632	6	swap	swap	NOUN
ftr-493	632	7	has	have	VERB
ftr-493	632	8	a	a	DET
ftr-493	632	9	positive	positive	ADJ
ftr-493	632	10	value	value	NOUN
ftr-493	632	11	at	at	ADP
ftr-493	632	12	the	the	DET
ftr-493	632	13	time	time	NOUN
ftr-493	632	14	of	of	ADP
ftr-493	632	15	an	an	DET
ftr-493	632	16	ownership	ownership	NOUN
ftr-493	632	17	change	change	NOUN
ftr-493	632	18	,	,	PUNCT
ftr-493	632	19	should	should	AUX
ftr-493	632	20	the	the	DET
ftr-493	632	21	amount	amount	NOUN
ftr-493	632	22	of	of	ADP
ftr-493	632	23	net	net	ADJ
ftr-493	632	24	unrealized	unrealize	VERB
ftr-493	632	25	built	build	VERB
ftr-493	632	26	-	-	PUNCT
ftr-493	632	27	in	in	ADP
ftr-493	632	28	gain	gain	NOUN
ftr-493	632	29	be	be	AUX
ftr-493	632	30	increased	increase	VERB
ftr-493	632	31	by	by	ADP
ftr-493	632	32	an	an	DET
ftr-493	632	33	equal	equal	ADJ
ftr-493	632	34	amount	amount	NOUN
ftr-493	632	35	(	(	PUNCT
ftr-493	632	36	or	or	CCONJ
ftr-493	632	37	,	,	PUNCT
ftr-493	632	38	conversely	conversely	ADV
ftr-493	632	39	,	,	PUNCT
ftr-493	632	40	should	should	AUX
ftr-493	632	41	the	the	DET
ftr-493	632	42	amount	amount	NOUN
ftr-493	632	43	of	of	ADP
ftr-493	632	44	net	net	ADJ
ftr-493	632	45	unrealized	unrealize	VERB
ftr-493	632	46	built	build	VERB
ftr-493	632	47	-	-	PUNCT
ftr-493	632	48	in	in	ADP
ftr-493	632	49	loss	loss	NOUN
ftr-493	632	50	be	be	AUX
ftr-493	632	51	decreased	decrease	VERB
ftr-493	632	52	by	by	ADP
ftr-493	632	53	such	such	ADJ
ftr-493	632	54	amount	amount	NOUN
ftr-493	632	55	)	)	PUNCT
ftr-493	632	56	?	?	PUNCT
ftr-493	633	1	similarly	similarly	ADV
ftr-493	633	2	,	,	PUNCT
ftr-493	633	3	what	what	PRON
ftr-493	633	4	happens	happen	VERB
ftr-493	633	5	if	if	SCONJ
ftr-493	633	6	the	the	DET
ftr-493	633	7	swap	swap	NOUN
ftr-493	633	8	has	have	VERB
ftr-493	633	9	a	a	DET
ftr-493	633	10	negative	negative	ADJ
ftr-493	633	11	value	value	NOUN
ftr-493	633	12	at	at	ADP
ftr-493	633	13	the	the	DET
ftr-493	633	14	time	time	NOUN
ftr-493	633	15	of	of	ADP
ftr-493	633	16	the	the	DET
ftr-493	633	17	ownership	ownership	NOUN
ftr-493	633	18	change	change	NOUN
ftr-493	633	19	.	.	PUNCT
ftr-493	634	1	should	should	AUX
ftr-493	634	2	this	this	DET
ftr-493	634	3	decrease	decrease	NOUN
ftr-493	634	4	(	(	PUNCT
ftr-493	634	5	increase	increase	VERB
ftr-493	634	6	)	)	PUNCT
ftr-493	634	7	the	the	DET
ftr-493	634	8	amount	amount	NOUN
ftr-493	634	9	of	of	ADP
ftr-493	634	10	net	net	ADJ
ftr-493	634	11	unrealized	unrealize	VERB
ftr-493	634	12	built	build	VERB
ftr-493	634	13	-	-	PUNCT
ftr-493	634	14	in	in	ADP
ftr-493	634	15	gain	gain	NOUN
ftr-493	634	16	(	(	PUNCT
ftr-493	634	17	loss	loss	NOUN
ftr-493	634	18	)	)	PUNCT
ftr-493	634	19	for	for	ADP
ftr-493	634	20	section	section	NOUN
ftr-493	634	21	382(h	382(h	PROPN
ftr-493	634	22	)	)	PUNCT
ftr-493	634	23	purposes	purpose	NOUN
ftr-493	634	24	?	?	PUNCT
ftr-493	635	1	alternatively	alternatively	ADV
ftr-493	635	2	,	,	PUNCT
ftr-493	635	3	given	give	VERB
ftr-493	635	4	the	the	DET
ftr-493	635	5	definitions	definition	NOUN
ftr-493	635	6	of	of	ADP
ftr-493	635	7	net	net	ADJ
ftr-493	635	8	unrealized	unrealize	VERB
ftr-493	635	9	built	build	VERB
ftr-493	635	10	-	-	PUNCT
ftr-493	635	11	in	in	ADP
ftr-493	635	12	gain	gain	NOUN
ftr-493	635	13	and	and	CCONJ
ftr-493	635	14	loss	loss	NOUN
ftr-493	635	15	(	(	PUNCT
ftr-493	635	16	looking	look	VERB
ftr-493	635	17	,	,	PUNCT
ftr-493	635	18	as	as	SCONJ
ftr-493	635	19	they	they	PRON
ftr-493	635	20	do	do	VERB
ftr-493	635	21	,	,	PUNCT
ftr-493	635	22	to	to	ADP
ftr-493	635	23	the	the	DET
ftr-493	635	24	value	value	NOUN
ftr-493	635	25	of	of	ADP
ftr-493	635	26	the	the	DET
ftr-493	635	27	corporation	corporation	NOUN
ftr-493	635	28	's	's	PART
ftr-493	635	29	assets	asset	NOUN
ftr-493	635	30	immediately	immediately	ADV
ftr-493	635	31	before	before	ADP
ftr-493	635	32	the	the	DET
ftr-493	635	33	ownership	ownership	NOUN
ftr-493	635	34	change	change	NOUN
ftr-493	635	35	)	)	PUNCT
ftr-493	635	36	,	,	PUNCT
ftr-493	635	37	should	should	AUX
ftr-493	635	38	the	the	DET
ftr-493	635	39	"	"	PUNCT
ftr-493	635	40	asset	asset	NOUN
ftr-493	635	41	leg	leg	NOUN
ftr-493	635	42	"	"	PUNCT
ftr-493	635	43	(	(	PUNCT
ftr-493	635	44	i.e.	i.e.	X
ftr-493	635	45	,	,	PUNCT
ftr-493	635	46	the	the	DET
ftr-493	635	47	right	right	NOUN
ftr-493	635	48	to	to	PART
ftr-493	635	49	receive	receive	VERB
ftr-493	635	50	payments	payment	NOUN
ftr-493	635	51	from	from	ADP
ftr-493	635	52	the	the	DET
ftr-493	635	53	counterparty	counterparty	NOUN
ftr-493	635	54	)	)	PUNCT
ftr-493	635	55	of	of	ADP
ftr-493	635	56	the	the	DET
ftr-493	635	57	swap	swap	NOUN
ftr-493	635	58	be	be	AUX
ftr-493	635	59	valued	value	VERB
ftr-493	635	60	separately	separately	ADV
ftr-493	635	61	from	from	ADP
ftr-493	635	62	the	the	DET
ftr-493	635	63	"	"	PUNCT
ftr-493	635	64	liability	liability	NOUN
ftr-493	635	65	leg	leg	NOUN
ftr-493	635	66	"	"	PUNCT
ftr-493	635	67	(	(	PUNCT
ftr-493	635	68	i.e.	i.e.	X
ftr-493	635	69	,	,	PUNCT
ftr-493	635	70	the	the	DET
ftr-493	635	71	obligation	obligation	NOUN
ftr-493	635	72	to	to	PART
ftr-493	635	73	make	make	VERB
ftr-493	635	74	payments	payment	NOUN
ftr-493	635	75	to	to	ADP
ftr-493	635	76	the	the	DET
ftr-493	635	77	counterparty	counterparty	NOUN
ftr-493	635	78	)	)	PUNCT
ftr-493	635	79	and	and	CCONJ
ftr-493	635	80	only	only	ADV
ftr-493	635	81	the	the	DET
ftr-493	635	82	former	former	ADJ
ftr-493	635	83	taken	take	VERB
ftr-493	635	84	into	into	ADP
ftr-493	635	85	account	account	NOUN
ftr-493	635	86	for	for	ADP
ftr-493	635	87	section	section	NOUN
ftr-493	635	88	382(h	382(h	PROPN
ftr-493	635	89	)	)	PUNCT
ftr-493	635	90	purposes.86	purposes.86	NOUN
ftr-493	635	91	the	the	DET
ftr-493	635	92	answer	answer	NOUN
ftr-493	635	93	to	to	ADP
ftr-493	635	94	these	these	DET
ftr-493	635	95	questions	question	NOUN
ftr-493	635	96	is	be	AUX
ftr-493	635	97	not	not	PART
ftr-493	635	98	completely	completely	ADV
ftr-493	635	99	clear	clear	ADJ
ftr-493	635	100	,	,	PUNCT
ftr-493	635	101	in	in	ADP
ftr-493	635	102	great	great	ADJ
ftr-493	635	103	part	part	NOUN
ftr-493	635	104	85	85	NUM
ftr-493	635	105	.	.	PUNCT
ftr-493	636	1	recognized	recognize	VERB
ftr-493	636	2	built	build	VERB
ftr-493	636	3	-	-	PUNCT
ftr-493	636	4	in	in	ADP
ftr-493	636	5	loss	loss	NOUN
ftr-493	636	6	also	also	ADV
ftr-493	636	7	includes	include	VERB
ftr-493	636	8	any	any	DET
ftr-493	636	9	depreciation	depreciation	NOUN
ftr-493	636	10	,	,	PUNCT
ftr-493	636	11	amortization	amortization	NOUN
ftr-493	636	12	,	,	PUNCT
ftr-493	636	13	or	or	CCONJ
ftr-493	636	14	depletion	depletion	NOUN
ftr-493	636	15	deductions	deduction	NOUN
ftr-493	636	16	recognized	recognize	VERB
ftr-493	636	17	during	during	ADP
ftr-493	636	18	the	the	DET
ftr-493	636	19	recognition	recognition	NOUN
ftr-493	636	20	period	period	NOUN
ftr-493	636	21	to	to	ADP
ftr-493	636	22	the	the	DET
ftr-493	636	23	extent	extent	NOUN
ftr-493	636	24	such	such	ADJ
ftr-493	636	25	deductions	deduction	NOUN
ftr-493	636	26	reflect	reflect	VERB
ftr-493	636	27	a	a	DET
ftr-493	636	28	loss	loss	NOUN
ftr-493	636	29	inherent	inherent	ADJ
ftr-493	636	30	in	in	ADP
ftr-493	636	31	an	an	DET
ftr-493	636	32	asset	asset	NOUN
ftr-493	636	33	at	at	ADP
ftr-493	636	34	the	the	DET
ftr-493	636	35	time	time	NOUN
ftr-493	636	36	of	of	ADP
ftr-493	636	37	the	the	DET
ftr-493	636	38	ownership	ownership	NOUN
ftr-493	636	39	change	change	NOUN
ftr-493	636	40	.	.	PUNCT
ftr-493	637	1	86	86	NUM
ftr-493	637	2	.	.	PUNCT
ftr-493	638	1	alternatively	alternatively	ADV
ftr-493	638	2	,	,	PUNCT
ftr-493	638	3	should	should	AUX
ftr-493	638	4	swaps	swap	NOUN
ftr-493	638	5	be	be	AUX
ftr-493	638	6	taken	take	VERB
ftr-493	638	7	into	into	ADP
ftr-493	638	8	account	account	NOUN
ftr-493	638	9	only	only	ADV
ftr-493	638	10	when	when	SCONJ
ftr-493	638	11	they	they	PRON
ftr-493	638	12	have	have	VERB
ftr-493	638	13	positive	positive	ADJ
ftr-493	638	14	values	value	NOUN
ftr-493	638	15	and	and	CCONJ
ftr-493	638	16	thus	thus	ADV
ftr-493	638	17	constitute	constitute	VERB
ftr-493	638	18	net	net	ADJ
ftr-493	638	19	"	"	PUNCT
ftr-493	638	20	assets	asset	NOUN
ftr-493	638	21	,	,	PUNCT
ftr-493	638	22	"	"	PUNCT
ftr-493	638	23	but	but	CCONJ
ftr-493	638	24	not	not	PART
ftr-493	638	25	when	when	SCONJ
ftr-493	638	26	they	they	PRON
ftr-493	638	27	have	have	VERB
ftr-493	638	28	negative	negative	ADJ
ftr-493	638	29	values	value	NOUN
ftr-493	638	30	and	and	CCONJ
ftr-493	638	31	thus	thus	ADV
ftr-493	638	32	constitute	constitute	VERB
ftr-493	638	33	net	net	ADJ
ftr-493	638	34	"	"	PUNCT
ftr-493	638	35	liabilities	liability	NOUN
ftr-493	638	36	"	"	PUNCT
ftr-493	638	37	?	?	PUNCT
ftr-493	639	1	[	[	X
ftr-493	639	2	vol	vol	NOUN
ftr-493	639	3	1:5	1:5	NUM
ftr-493	639	4	selected	select	VERB
ftr-493	639	5	issues	issue	NOUN
ftr-493	639	6	in	in	ADP
ftr-493	639	7	the	the	DET
ftr-493	639	8	taration	taration	NOUN
ftr-493	639	9	of	of	ADP
ftr-493	639	10	swaps	swap	NOUN
ftr-493	639	11	because	because	SCONJ
ftr-493	639	12	the	the	DET
ftr-493	639	13	treatment	treatment	NOUN
ftr-493	639	14	of	of	ADP
ftr-493	639	15	liabilities	liability	NOUN
ftr-493	639	16	,	,	PUNCT
ftr-493	639	17	in	in	ADP
ftr-493	639	18	general	general	ADJ
ftr-493	639	19	,	,	PUNCT
ftr-493	639	20	is	be	AUX
ftr-493	639	21	not	not	PART
ftr-493	639	22	clear	clear	ADJ
ftr-493	639	23	under	under	ADP
ftr-493	639	24	section	section	NOUN
ftr-493	639	25	382(h	382(h	PROPN
ftr-493	639	26	)	)	PUNCT
ftr-493	639	27	.	.	PUNCT
ftr-493	640	1	thus	thus	ADV
ftr-493	640	2	,	,	PUNCT
ftr-493	640	3	low	low	ADJ
ftr-493	640	4	coupon	coupon	NOUN
ftr-493	640	5	debt	debt	NOUN
ftr-493	640	6	(	(	PUNCT
ftr-493	640	7	or	or	CCONJ
ftr-493	640	8	,	,	PUNCT
ftr-493	640	9	alternatively	alternatively	ADV
ftr-493	640	10	,	,	PUNCT
ftr-493	640	11	high	high	ADJ
ftr-493	640	12	coupon	coupon	NOUN
ftr-493	640	13	debt	debt	NOUN
ftr-493	640	14	)	)	PUNCT
ftr-493	640	15	may	may	AUX
ftr-493	640	16	constitute	constitute	VERB
ftr-493	640	17	a	a	DET
ftr-493	640	18	potential	potential	ADJ
ftr-493	640	19	economic	economic	ADJ
ftr-493	640	20	benefit	benefit	NOUN
ftr-493	640	21	(	(	PUNCT
ftr-493	640	22	or	or	CCONJ
ftr-493	640	23	detriment	detriment	NOUN
ftr-493	640	24	)	)	PUNCT
ftr-493	640	25	to	to	ADP
ftr-493	640	26	the	the	DET
ftr-493	640	27	loss	loss	NOUN
ftr-493	640	28	corporation	corporation	NOUN
ftr-493	640	29	at	at	ADP
ftr-493	640	30	the	the	DET
ftr-493	640	31	time	time	NOUN
ftr-493	640	32	of	of	ADP
ftr-493	640	33	the	the	DET
ftr-493	640	34	ownership	ownership	NOUN
ftr-493	640	35	change	change	NOUN
ftr-493	640	36	.	.	PUNCT
ftr-493	641	1	more	more	ADV
ftr-493	641	2	importantly	importantly	ADV
ftr-493	641	3	,	,	PUNCT
ftr-493	641	4	such	such	ADJ
ftr-493	641	5	debt	debt	NOUN
ftr-493	641	6	represents	represent	VERB
ftr-493	641	7	a	a	DET
ftr-493	641	8	future	future	ADJ
ftr-493	641	9	source	source	NOUN
ftr-493	641	10	of	of	ADP
ftr-493	641	11	taxable	taxable	ADJ
ftr-493	641	12	income	income	NOUN
ftr-493	641	13	(	(	PUNCT
ftr-493	641	14	or	or	CCONJ
ftr-493	641	15	deductions	deduction	NOUN
ftr-493	641	16	)	)	PUNCT
ftr-493	641	17	that	that	PRON
ftr-493	641	18	,	,	PUNCT
ftr-493	641	19	absent	absent	ADJ
ftr-493	641	20	the	the	DET
ftr-493	641	21	ownership	ownership	NOUN
ftr-493	641	22	change	change	NOUN
ftr-493	641	23	,	,	PUNCT
ftr-493	641	24	could	could	AUX
ftr-493	641	25	have	have	AUX
ftr-493	641	26	been	be	AUX
ftr-493	641	27	offset	offset	VERB
ftr-493	641	28	by	by	ADP
ftr-493	641	29	the	the	DET
ftr-493	641	30	loss	loss	NOUN
ftr-493	641	31	corporation	corporation	NOUN
ftr-493	641	32	's	's	PART
ftr-493	641	33	net	net	ADJ
ftr-493	641	34	operating	operating	NOUN
ftr-493	641	35	losses	loss	NOUN
ftr-493	641	36	in	in	ADP
ftr-493	641	37	future	future	ADJ
ftr-493	641	38	periods	period	NOUN
ftr-493	641	39	(	(	PUNCT
ftr-493	641	40	or	or	CCONJ
ftr-493	641	41	,	,	PUNCT
ftr-493	641	42	in	in	ADP
ftr-493	641	43	the	the	DET
ftr-493	641	44	case	case	NOUN
ftr-493	641	45	of	of	ADP
ftr-493	641	46	high	high	ADJ
ftr-493	641	47	coupon	coupon	NOUN
ftr-493	641	48	debt	debt	NOUN
ftr-493	641	49	,	,	PUNCT
ftr-493	641	50	would	would	AUX
ftr-493	641	51	have	have	AUX
ftr-493	641	52	increased	increase	VERB
ftr-493	641	53	those	those	DET
ftr-493	641	54	losses	loss	NOUN
ftr-493	641	55	in	in	ADP
ftr-493	641	56	future	future	ADJ
ftr-493	641	57	periods).87	periods).87	PROPN
ftr-493	641	58	thus	thus	ADV
ftr-493	641	59	,	,	PUNCT
ftr-493	641	60	if	if	SCONJ
ftr-493	641	61	,	,	PUNCT
ftr-493	641	62	as	as	SCONJ
ftr-493	641	63	appears	appear	VERB
ftr-493	641	64	likely	likely	ADJ
ftr-493	641	65	,	,	PUNCT
ftr-493	641	66	the	the	DET
ftr-493	641	67	purpose	purpose	NOUN
ftr-493	641	68	of	of	ADP
ftr-493	641	69	the	the	DET
ftr-493	641	70	section	section	NOUN
ftr-493	641	71	382(h	382(h	PROPN
ftr-493	641	72	)	)	PUNCT
ftr-493	641	73	rules	rule	NOUN
ftr-493	641	74	is	be	AUX
ftr-493	641	75	to	to	PART
ftr-493	641	76	determine	determine	VERB
ftr-493	641	77	the	the	DET
ftr-493	641	78	maximum	maximum	ADJ
ftr-493	641	79	amount	amount	NOUN
ftr-493	641	80	of	of	ADP
ftr-493	641	81	taxable	taxable	ADJ
ftr-493	641	82	income	income	NOUN
ftr-493	641	83	or	or	CCONJ
ftr-493	641	84	loss	loss	NOUN
ftr-493	641	85	that	that	PRON
ftr-493	641	86	the	the	DET
ftr-493	641	87	loss	loss	NOUN
ftr-493	641	88	corporation	corporation	NOUN
ftr-493	641	89	would	would	AUX
ftr-493	641	90	have	have	AUX
ftr-493	641	91	generated	generate	VERB
ftr-493	641	92	if	if	SCONJ
ftr-493	641	93	it	it	PRON
ftr-493	641	94	had	have	AUX
ftr-493	641	95	sold	sell	VERB
ftr-493	641	96	all	all	DET
ftr-493	641	97	its	its	PRON
ftr-493	641	98	assets	asset	NOUN
ftr-493	641	99	and	and	CCONJ
ftr-493	641	100	paid	pay	VERB
ftr-493	641	101	off	off	ADP
ftr-493	641	102	all	all	DET
ftr-493	641	103	its	its	PRON
ftr-493	641	104	liabilities	liability	NOUN
ftr-493	641	105	immediately	immediately	ADV
ftr-493	641	106	prior	prior	ADV
ftr-493	641	107	to	to	ADP
ftr-493	641	108	the	the	DET
ftr-493	641	109	ownership	ownership	NOUN
ftr-493	641	110	change	change	NOUN
ftr-493	641	111	,	,	PUNCT
ftr-493	641	112	the	the	DET
ftr-493	641	113	inherent	inherent	ADJ
ftr-493	641	114	gain	gain	NOUN
ftr-493	641	115	or	or	CCONJ
ftr-493	641	116	loss	loss	NOUN
ftr-493	641	117	with	with	ADP
ftr-493	641	118	respect	respect	NOUN
ftr-493	641	119	to	to	ADP
ftr-493	641	120	the	the	DET
ftr-493	641	121	loss	loss	NOUN
ftr-493	641	122	corporation	corporation	NOUN
ftr-493	641	123	's	's	PART
ftr-493	641	124	liabilities	liability	NOUN
ftr-493	641	125	,	,	PUNCT
ftr-493	641	126	as	as	ADV
ftr-493	641	127	well	well	ADV
ftr-493	641	128	as	as	ADP
ftr-493	641	129	the	the	DET
ftr-493	641	130	inherent	inherent	ADJ
ftr-493	641	131	gain	gain	NOUN
ftr-493	641	132	or	or	CCONJ
ftr-493	641	133	loss	loss	NOUN
ftr-493	641	134	in	in	ADP
ftr-493	641	135	its	its	PRON
ftr-493	641	136	assets	asset	NOUN
ftr-493	641	137	,	,	PUNCT
ftr-493	641	138	should	should	AUX
ftr-493	641	139	be	be	AUX
ftr-493	641	140	taken	take	VERB
ftr-493	641	141	into	into	ADP
ftr-493	641	142	account	account	NOUN
ftr-493	641	143	in	in	ADP
ftr-493	641	144	determining	determine	VERB
ftr-493	641	145	net	net	ADJ
ftr-493	641	146	unrealized	unrealize	VERB
ftr-493	641	147	built	build	VERB
ftr-493	641	148	-	-	PUNCT
ftr-493	641	149	in	in	ADP
ftr-493	641	150	gain	gain	NOUN
ftr-493	641	151	or	or	CCONJ
ftr-493	641	152	loss	loss	NOUN
ftr-493	641	153	.	.	PUNCT
ftr-493	642	1	while	while	SCONJ
ftr-493	642	2	the	the	DET
ftr-493	642	3	statutory	statutory	ADJ
ftr-493	642	4	language	language	NOUN
ftr-493	642	5	,	,	PUNCT
ftr-493	642	6	speaking	speak	VERB
ftr-493	642	7	as	as	SCONJ
ftr-493	642	8	it	it	PRON
ftr-493	642	9	does	do	VERB
ftr-493	642	10	of	of	ADP
ftr-493	642	11	the	the	DET
ftr-493	642	12	value	value	NOUN
ftr-493	642	13	of	of	ADP
ftr-493	642	14	the	the	DET
ftr-493	642	15	loss	loss	NOUN
ftr-493	642	16	corporation	corporation	NOUN
ftr-493	642	17	's	's	PART
ftr-493	642	18	assets	asset	NOUN
ftr-493	642	19	immediately	immediately	ADV
ftr-493	642	20	prior	prior	ADV
ftr-493	642	21	to	to	ADP
ftr-493	642	22	the	the	DET
ftr-493	642	23	ownership	ownership	NOUN
ftr-493	642	24	change	change	NOUN
ftr-493	642	25	,	,	PUNCT
ftr-493	642	26	seems	seem	VERB
ftr-493	642	27	to	to	PART
ftr-493	642	28	preclude	preclude	VERB
ftr-493	642	29	this	this	DET
ftr-493	642	30	result	result	NOUN
ftr-493	642	31	with	with	ADP
ftr-493	642	32	respect	respect	NOUN
ftr-493	642	33	to	to	ADP
ftr-493	642	34	"	"	PUNCT
ftr-493	642	35	garden	garden	NOUN
ftr-493	642	36	variety	variety	NOUN
ftr-493	642	37	"	"	PUNCT
ftr-493	642	38	liabilities	liability	NOUN
ftr-493	642	39	,	,	PUNCT
ftr-493	642	40	i	i	PRON
ftr-493	642	41	believe	believe	VERB
ftr-493	642	42	that	that	SCONJ
ftr-493	642	43	no	no	DET
ftr-493	642	44	damage	damage	NOUN
ftr-493	642	45	to	to	ADP
ftr-493	642	46	the	the	DET
ftr-493	642	47	statutory	statutory	ADJ
ftr-493	642	48	language	language	NOUN
ftr-493	642	49	will	will	AUX
ftr-493	642	50	result	result	VERB
ftr-493	642	51	if	if	SCONJ
ftr-493	642	52	swaps	swap	NOUN
ftr-493	642	53	are	be	AUX
ftr-493	642	54	treated	treat	VERB
ftr-493	642	55	as	as	ADP
ftr-493	642	56	a	a	DET
ftr-493	642	57	single	single	ADJ
ftr-493	642	58	instrument	instrument	NOUN
ftr-493	642	59	(	(	PUNCT
ftr-493	642	60	i.e.	i.e.	X
ftr-493	642	61	,	,	PUNCT
ftr-493	642	62	the	the	DET
ftr-493	642	63	asset	asset	NOUN
ftr-493	642	64	leg	leg	NOUN
ftr-493	642	65	is	be	AUX
ftr-493	642	66	not	not	PART
ftr-493	642	67	separated	separate	VERB
ftr-493	642	68	from	from	ADP
ftr-493	642	69	the	the	DET
ftr-493	642	70	liability	liability	NOUN
ftr-493	642	71	leg	leg	NOUN
ftr-493	642	72	)	)	PUNCT
ftr-493	642	73	capable	capable	ADJ
ftr-493	642	74	of	of	ADP
ftr-493	642	75	having	have	VERB
ftr-493	642	76	either	either	CCONJ
ftr-493	642	77	a	a	DET
ftr-493	642	78	positive	positive	ADJ
ftr-493	642	79	or	or	CCONJ
ftr-493	642	80	a	a	DET
ftr-493	642	81	negative	negative	ADJ
ftr-493	642	82	value	value	NOUN
ftr-493	642	83	for	for	ADP
ftr-493	642	84	section	section	NOUN
ftr-493	642	85	382(h	382(h	PROPN
ftr-493	642	86	)	)	PUNCT
ftr-493	642	87	purposes	purpose	NOUN
ftr-493	642	88	.	.	PUNCT
ftr-493	642	89	"	"	PUNCT
ftr-493	643	1	under	under	ADP
ftr-493	643	2	what	what	DET
ftr-493	643	3	circumstances	circumstance	NOUN
ftr-493	643	4	should	should	AUX
ftr-493	643	5	the	the	DET
ftr-493	643	6	inherent	inherent	ADJ
ftr-493	643	7	gain	gain	NOUN
ftr-493	643	8	or	or	CCONJ
ftr-493	643	9	loss	loss	NOUN
ftr-493	643	10	in	in	ADP
ftr-493	643	11	the	the	DET
ftr-493	643	12	swap	swap	NOUN
ftr-493	643	13	be	be	AUX
ftr-493	643	14	treated	treat	VERB
ftr-493	643	15	as	as	ADP
ftr-493	643	16	having	having	AUX
ftr-493	643	17	been	be	AUX
ftr-493	643	18	recognized	recognize	VERB
ftr-493	643	19	for	for	ADP
ftr-493	643	20	purposes	purpose	NOUN
ftr-493	643	21	of	of	ADP
ftr-493	643	22	increasing	increase	VERB
ftr-493	643	23	recognized	recognize	VERB
ftr-493	643	24	built	build	VERB
ftr-493	643	25	-	-	PUNCT
ftr-493	643	26	in	in	ADP
ftr-493	643	27	gain	gain	NOUN
ftr-493	643	28	or	or	CCONJ
ftr-493	643	29	loss	loss	NOUN
ftr-493	643	30	?	?	PUNCT
ftr-493	644	1	as	as	SCONJ
ftr-493	644	2	noted	note	VERB
ftr-493	644	3	above	above	ADV
ftr-493	644	4	,	,	PUNCT
ftr-493	644	5	the	the	DET
ftr-493	644	6	definition	definition	NOUN
ftr-493	644	7	of	of	ADP
ftr-493	644	8	recognized	recognize	VERB
ftr-493	644	9	builtin	builtin	NOUN
ftr-493	644	10	gain	gain	NOUN
ftr-493	644	11	or	or	CCONJ
ftr-493	644	12	loss	loss	NOUN
ftr-493	644	13	refers	refer	VERB
ftr-493	644	14	generally	generally	ADV
ftr-493	644	15	only	only	ADV
ftr-493	644	16	to	to	PART
ftr-493	644	17	gain	gain	VERB
ftr-493	644	18	or	or	CCONJ
ftr-493	644	19	loss	loss	NOUN
ftr-493	644	20	recognized	recognize	VERB
ftr-493	644	21	on	on	ADP
ftr-493	644	22	a	a	DET
ftr-493	644	23	disposition	disposition	NOUN
ftr-493	644	24	of	of	ADP
ftr-493	644	25	an	an	DET
ftr-493	644	26	asset	asset	NOUN
ftr-493	644	27	.	.	PUNCT
ftr-493	645	1	section	section	PROPN
ftr-493	645	2	382(h)(6	382(h)(6	NUM
ftr-493	645	3	)	)	PUNCT
ftr-493	645	4	expands	expand	VERB
ftr-493	645	5	this	this	DET
ftr-493	645	6	definition	definition	NOUN
ftr-493	645	7	to	to	PART
ftr-493	645	8	include	include	VERB
ftr-493	645	9	income	income	NOUN
ftr-493	645	10	or	or	CCONJ
ftr-493	645	11	deductions	deduction	NOUN
ftr-493	645	12	recognized	recognize	VERB
ftr-493	645	13	during	during	ADP
ftr-493	645	14	the	the	DET
ftr-493	645	15	recognition	recognition	NOUN
ftr-493	645	16	period	period	NOUN
ftr-493	645	17	but	but	CCONJ
ftr-493	645	18	attributable	attributable	ADJ
ftr-493	645	19	to	to	ADP
ftr-493	645	20	preownership	preownership	NOUN
ftr-493	645	21	change	change	NOUN
ftr-493	645	22	periods	period	NOUN
ftr-493	645	23	.	.	PUNCT
ftr-493	646	1	while	while	SCONJ
ftr-493	646	2	it	it	PRON
ftr-493	646	3	seems	seem	VERB
ftr-493	646	4	clear	clear	ADJ
ftr-493	646	5	that	that	SCONJ
ftr-493	646	6	gain	gain	NOUN
ftr-493	646	7	or	or	CCONJ
ftr-493	646	8	loss	loss	NOUN
ftr-493	646	9	recognized	recognize	VERB
ftr-493	646	10	on	on	ADP
ftr-493	646	11	the	the	DET
ftr-493	646	12	termination	termination	NOUN
ftr-493	646	13	or	or	CCONJ
ftr-493	646	14	assignment	assignment	NOUN
ftr-493	646	15	of	of	ADP
ftr-493	646	16	a	a	DET
ftr-493	646	17	swap	swap	NOUN
ftr-493	646	18	may	may	AUX
ftr-493	646	19	constitute	constitute	VERB
ftr-493	646	20	recognized	recognize	VERB
ftr-493	646	21	built	build	VERB
ftr-493	646	22	-	-	PUNCT
ftr-493	646	23	in	in	ADP
ftr-493	646	24	gain	gain	NOUN
ftr-493	646	25	or	or	CCONJ
ftr-493	646	26	loss	loss	NOUN
ftr-493	646	27	,	,	PUNCT
ftr-493	646	28	what	what	PRON
ftr-493	646	29	if	if	SCONJ
ftr-493	646	30	the	the	DET
ftr-493	646	31	swap	swap	NOUN
ftr-493	646	32	is	be	AUX
ftr-493	646	33	held	hold	VERB
ftr-493	646	34	until	until	SCONJ
ftr-493	646	35	maturity	maturity	NOUN
ftr-493	646	36	and	and	CCONJ
ftr-493	646	37	the	the	DET
ftr-493	646	38	gain	gain	NOUN
ftr-493	646	39	or	or	CCONJ
ftr-493	646	40	loss	loss	NOUN
ftr-493	646	41	is	be	AUX
ftr-493	646	42	recognized	recognize	VERB
ftr-493	646	43	over	over	ADP
ftr-493	646	44	the	the	DET
ftr-493	646	45	term	term	NOUN
ftr-493	646	46	of	of	ADP
ftr-493	646	47	the	the	DET
ftr-493	646	48	swap	swap	NOUN
ftr-493	646	49	as	as	ADP
ftr-493	646	50	increased	increase	VERB
ftr-493	646	51	net	net	ADJ
ftr-493	646	52	income	income	NOUN
ftr-493	646	53	or	or	CCONJ
ftr-493	646	54	deduction	deduction	NOUN
ftr-493	646	55	?	?	PUNCT
ftr-493	647	1	will	will	AUX
ftr-493	647	2	this	this	DET
ftr-493	647	3	constitute	constitute	NOUN
ftr-493	647	4	recognized	recognize	VERB
ftr-493	647	5	built	build	VERB
ftr-493	647	6	-	-	PUNCT
ftr-493	647	7	in	in	ADP
ftr-493	647	8	gain	gain	NOUN
ftr-493	647	9	or	or	CCONJ
ftr-493	647	10	loss	loss	NOUN
ftr-493	647	11	pursuant	pursuant	ADJ
ftr-493	647	12	to	to	ADP
ftr-493	647	13	section	section	NOUN
ftr-493	647	14	382(h)(6	382(h)(6	NUM
ftr-493	647	15	)	)	PUNCT
ftr-493	647	16	?	?	PUNCT
ftr-493	648	1	here	here	ADV
ftr-493	648	2	,	,	PUNCT
ftr-493	648	3	particularly	particularly	ADV
ftr-493	648	4	given	give	VERB
ftr-493	648	5	the	the	DET
ftr-493	648	6	fact	fact	NOUN
ftr-493	648	7	that	that	SCONJ
ftr-493	648	8	the	the	DET
ftr-493	648	9	amount	amount	NOUN
ftr-493	648	10	of	of	ADP
ftr-493	648	11	net	net	ADJ
ftr-493	648	12	income	income	NOUN
ftr-493	648	13	or	or	CCONJ
ftr-493	648	14	deduction	deduction	NOUN
ftr-493	648	15	recognized	recognize	VERB
ftr-493	648	16	with	with	ADP
ftr-493	648	17	respect	respect	NOUN
ftr-493	648	18	to	to	ADP
ftr-493	648	19	the	the	DET
ftr-493	648	20	swap	swap	NOUN
ftr-493	648	21	in	in	ADP
ftr-493	648	22	any	any	DET
ftr-493	648	23	future	future	ADJ
ftr-493	648	24	period	period	NOUN
ftr-493	648	25	depends	depend	VERB
ftr-493	648	26	on	on	ADP
ftr-493	648	27	the	the	DET
ftr-493	648	28	future	future	ADJ
ftr-493	648	29	movements	movement	NOUN
ftr-493	648	30	of	of	ADP
ftr-493	648	31	the	the	DET
ftr-493	648	32	index	index	NOUN
ftr-493	648	33	or	or	CCONJ
ftr-493	648	34	indices	index	NOUN
ftr-493	648	35	(	(	PUNCT
ftr-493	648	36	e.g.	e.g.	ADV
ftr-493	648	37	,	,	PUNCT
ftr-493	648	38	libor	libor	PROPN
ftr-493	648	39	)	)	PUNCT
ftr-493	648	40	that	that	PRON
ftr-493	648	41	determine	determine	VERB
ftr-493	648	42	each	each	DET
ftr-493	648	43	party	party	NOUN
ftr-493	648	44	's	's	PART
ftr-493	648	45	obligations	obligation	NOUN
ftr-493	648	46	under	under	ADP
ftr-493	648	47	the	the	DET
ftr-493	648	48	swap	swap	NOUN
ftr-493	648	49	,	,	PUNCT
ftr-493	648	50	it	it	PRON
ftr-493	648	51	seems	seem	VERB
ftr-493	648	52	hard	hard	ADJ
ftr-493	648	53	to	to	PART
ftr-493	648	54	believe	believe	VERB
ftr-493	648	55	that	that	SCONJ
ftr-493	648	56	this	this	DET
ftr-493	648	57	income	income	NOUN
ftr-493	648	58	or	or	CCONJ
ftr-493	648	59	deduction	deduction	NOUN
ftr-493	648	60	could	could	AUX
ftr-493	648	61	be	be	AUX
ftr-493	648	62	viewed	view	VERB
ftr-493	648	63	as	as	ADP
ftr-493	648	64	attributable	attributable	ADJ
ftr-493	648	65	to	to	ADP
ftr-493	648	66	pre	pre	ADJ
ftr-493	648	67	-	-	ADJ
ftr-493	648	68	ownership	ownership	ADJ
ftr-493	648	69	change	change	NOUN
ftr-493	648	70	periods	period	NOUN
ftr-493	648	71	,	,	PUNCT
ftr-493	648	72	any	any	PRON
ftr-493	648	73	more	more	ADJ
ftr-493	648	74	than	than	ADP
ftr-493	648	75	the	the	DET
ftr-493	648	76	coupon	coupon	NOUN
ftr-493	648	77	interest	interest	NOUN
ftr-493	648	78	received	receive	VERB
ftr-493	648	79	in	in	ADP
ftr-493	648	80	post	post	ADJ
ftr-493	648	81	-	-	ADJ
ftr-493	648	82	ownership	ownership	ADJ
ftr-493	648	83	change	change	NOUN
ftr-493	648	84	87	87	NUM
ftr-493	648	85	.	.	PUNCT
ftr-493	649	1	see	see	VERB
ftr-493	649	2	,	,	PUNCT
ftr-493	649	3	e.g.	e.g.	ADV
ftr-493	649	4	,	,	PUNCT
ftr-493	649	5	priv	priv	PROPN
ftr-493	649	6	.	.	PUNCT
ftr-493	650	1	let	let	VERB
ftr-493	650	2	rul	rul	NOUN
ftr-493	650	3	.	.	PUNCT
ftr-493	651	1	9226026	9226026	NUM
ftr-493	651	2	(	(	PUNCT
ftr-493	651	3	mar	mar	PROPN
ftr-493	651	4	.	.	PROPN
ftr-493	651	5	26	26	NUM
ftr-493	651	6	.	.	NOUN
ftr-493	651	7	1992	1992	NUM
ftr-493	651	8	)	)	PUNCT
ftr-493	651	9	&	&	CCONJ
ftr-493	651	10	priv	priv	PROPN
ftr-493	651	11	.	.	PUNCT
ftr-493	652	1	let	let	VERB
ftr-493	652	2	.	.	PUNCT
ftr-493	653	1	rul	rul	NOUN
ftr-493	653	2	.	.	PUNCT
ftr-493	654	1	9124053	9124053	NUM
ftr-493	654	2	(	(	PUNCT
ftr-493	654	3	mar	mar	PROPN
ftr-493	654	4	.	.	PROPN
ftr-493	654	5	20	20	NUM
ftr-493	654	6	,	,	PUNCT
ftr-493	654	7	1991	1991	NUM
ftr-493	654	8	)	)	PUNCT
ftr-493	655	1	(	(	PUNCT
ftr-493	655	2	dealing	deal	VERB
ftr-493	655	3	with	with	ADP
ftr-493	655	4	cancellation	cancellation	NOUN
ftr-493	655	5	of	of	ADP
ftr-493	655	6	indebtedness	indebtedness	NOUN
ftr-493	655	7	income	income	NOUN
ftr-493	655	8	and	and	CCONJ
ftr-493	655	9	treating	treat	VERB
ftr-493	655	10	it	it	PRON
ftr-493	655	11	as	as	ADP
ftr-493	655	12	built	build	VERB
ftr-493	655	13	-	-	PUNCT
ftr-493	655	14	in	in	ADP
ftr-493	655	15	income	income	NOUN
ftr-493	655	16	under	under	ADP
ftr-493	655	17	section	section	NOUN
ftr-493	655	18	382(h)(6	382(h)(6	NUM
ftr-493	655	19	)	)	PUNCT
ftr-493	655	20	)	)	PUNCT
ftr-493	655	21	.	.	PUNCT
ftr-493	656	1	88	88	NUM
ftr-493	656	2	.	.	PUNCT
ftr-493	657	1	as	as	SCONJ
ftr-493	657	2	noted	note	VERB
ftr-493	657	3	above	above	ADV
ftr-493	657	4	,	,	PUNCT
ftr-493	657	5	similar	similar	ADJ
ftr-493	657	6	issues	issue	NOUN
ftr-493	657	7	arise	arise	VERB
ftr-493	657	8	under	under	ADP
ftr-493	657	9	section	section	NOUN
ftr-493	657	10	382(h	382(h	PROPN
ftr-493	657	11	)	)	PUNCT
ftr-493	657	12	with	with	ADP
ftr-493	657	13	respect	respect	NOUN
ftr-493	657	14	to	to	ADP
ftr-493	657	15	the	the	DET
ftr-493	657	16	lessee	lessee	NOUN
ftr-493	657	17	's	's	PART
ftr-493	657	18	interest	interest	NOUN
ftr-493	657	19	in	in	ADP
ftr-493	657	20	a	a	DET
ftr-493	657	21	leasehold	leasehold	NOUN
ftr-493	657	22	,	,	PUNCT
ftr-493	657	23	and	and	CCONJ
ftr-493	657	24	similar	similar	ADJ
ftr-493	657	25	mixed	mixed	ADJ
ftr-493	657	26	asset	asset	NOUN
ftr-493	657	27	-	-	PUNCT
ftr-493	657	28	liability	liability	NOUN
ftr-493	657	29	contractual	contractual	ADJ
ftr-493	657	30	undertakings	undertaking	NOUN
ftr-493	657	31	.	.	PUNCT
ftr-493	658	1	1993	1993	NUM
ftr-493	658	2	]	]	PUNCT
ftr-493	658	3	florida	florida	PROPN
ftr-493	658	4	tax	tax	PROPN
ftr-493	658	5	review	review	NOUN
ftr-493	658	6	periods	period	VERB
ftr-493	658	7	on	on	ADP
ftr-493	658	8	a	a	DET
ftr-493	658	9	high	high	ADJ
ftr-493	658	10	coupon	coupon	NOUN
ftr-493	658	11	debt	debt	NOUN
ftr-493	658	12	instrument	instrument	NOUN
ftr-493	658	13	held	hold	VERB
ftr-493	658	14	by	by	ADP
ftr-493	658	15	the	the	DET
ftr-493	658	16	loss	loss	NOUN
ftr-493	658	17	corporation	corporation	NOUN
ftr-493	658	18	as	as	ADP
ftr-493	658	19	an	an	DET
ftr-493	658	20	asset	asset	NOUN
ftr-493	658	21	at	at	ADP
ftr-493	658	22	the	the	DET
ftr-493	658	23	time	time	NOUN
ftr-493	658	24	of	of	ADP
ftr-493	658	25	the	the	DET
ftr-493	658	26	ownership	ownership	NOUN
ftr-493	658	27	change	change	NOUN
ftr-493	658	28	could	could	AUX
ftr-493	658	29	be	be	AUX
ftr-493	658	30	so	so	ADV
ftr-493	658	31	viewed	view	VERB
ftr-493	658	32	.	.	PUNCT
ftr-493	659	1	i	i	PRON
ftr-493	659	2	m.	m.	NOUN
ftr-493	659	3	structured	structure	VERB
ftr-493	659	4	finance	finance	NOUN
ftr-493	659	5	a.	a.	NOUN
ftr-493	659	6	basic	basic	ADJ
ftr-493	659	7	structure	structure	NOUN
ftr-493	659	8	and	and	CCONJ
ftr-493	659	9	goals	goal	NOUN
ftr-493	659	10	last	last	ADJ
ftr-493	659	11	year	year	NOUN
ftr-493	659	12	,	,	PUNCT
ftr-493	659	13	corporate	corporate	ADJ
ftr-493	659	14	financing	financing	NOUN
ftr-493	659	15	week	week	NOUN
ftr-493	659	16	reported	report	VERB
ftr-493	659	17	that	that	SCONJ
ftr-493	659	18	merrill	merrill	PROPN
ftr-493	659	19	lynch	lynch	PROPN
ftr-493	659	20	had	have	AUX
ftr-493	659	21	developed	develop	VERB
ftr-493	659	22	and	and	CCONJ
ftr-493	659	23	was	be	AUX
ftr-493	659	24	marketing	market	VERB
ftr-493	659	25	a	a	DET
ftr-493	659	26	product	product	NOUN
ftr-493	659	27	that	that	PRON
ftr-493	659	28	allowed	allow	VERB
ftr-493	659	29	investors	investor	NOUN
ftr-493	659	30	to	to	PART
ftr-493	659	31	take	take	VERB
ftr-493	659	32	maximum	maximum	ADJ
ftr-493	659	33	advantage	advantage	NOUN
ftr-493	659	34	of	of	ADP
ftr-493	659	35	the	the	DET
ftr-493	659	36	drd.89	drd.89	NOUN
ftr-493	659	37	according	accord	VERB
ftr-493	659	38	to	to	ADP
ftr-493	659	39	that	that	DET
ftr-493	659	40	report	report	NOUN
ftr-493	659	41	,	,	PUNCT
ftr-493	659	42	the	the	DET
ftr-493	659	43	product	product	NOUN
ftr-493	659	44	involved	involve	VERB
ftr-493	659	45	creating	create	VERB
ftr-493	659	46	a	a	DET
ftr-493	659	47	state	state	NOUN
ftr-493	659	48	law	law	NOUN
ftr-493	659	49	trust	trust	NOUN
ftr-493	659	50	(	(	PUNCT
ftr-493	659	51	the	the	DET
ftr-493	659	52	"	"	PUNCT
ftr-493	659	53	trust	trust	NOUN
ftr-493	659	54	"	"	PUNCT
ftr-493	659	55	)	)	PUNCT
ftr-493	659	56	that	that	PRON
ftr-493	659	57	would	would	AUX
ftr-493	659	58	acquire	acquire	VERB
ftr-493	659	59	dividendpaying	dividendpaye	VERB
ftr-493	659	60	stock	stock	NOUN
ftr-493	659	61	of	of	ADP
ftr-493	659	62	u.s	u.s	PROPN
ftr-493	659	63	.	.	PROPN
ftr-493	659	64	issuers.9	issuers.9	PROPN
ftr-493	659	65	"	"	PUNCT
ftr-493	659	66	the	the	DET
ftr-493	659	67	trust	trust	NOUN
ftr-493	659	68	would	would	AUX
ftr-493	659	69	raise	raise	VERB
ftr-493	659	70	the	the	DET
ftr-493	659	71	cash	cash	NOUN
ftr-493	659	72	to	to	PART
ftr-493	659	73	buy	buy	VERB
ftr-493	659	74	the	the	DET
ftr-493	659	75	stock	stock	NOUN
ftr-493	659	76	by	by	ADP
ftr-493	659	77	issuing	issue	VERB
ftr-493	659	78	two	two	NUM
ftr-493	659	79	classes	class	NOUN
ftr-493	659	80	of	of	ADP
ftr-493	659	81	trust	trust	NOUN
ftr-493	659	82	certificates	certificate	NOUN
ftr-493	659	83	.	.	PUNCT
ftr-493	660	1	holders	holder	NOUN
ftr-493	660	2	of	of	ADP
ftr-493	660	3	the	the	DET
ftr-493	660	4	first	first	ADJ
ftr-493	660	5	class	class	NOUN
ftr-493	660	6	of	of	ADP
ftr-493	660	7	certificates	certificate	NOUN
ftr-493	660	8	(	(	PUNCT
ftr-493	660	9	the	the	DET
ftr-493	660	10	"	"	PUNCT
ftr-493	660	11	preferred	preferred	ADJ
ftr-493	660	12	certificates	certificate	NOUN
ftr-493	660	13	"	"	PUNCT
ftr-493	660	14	)	)	PUNCT
ftr-493	660	15	were	be	AUX
ftr-493	660	16	entitled	entitle	VERB
ftr-493	660	17	to	to	PART
ftr-493	660	18	receive	receive	VERB
ftr-493	660	19	(	(	PUNCT
ftr-493	660	20	i	i	NOUN
ftr-493	660	21	)	)	PUNCT
ftr-493	660	22	a	a	DET
ftr-493	660	23	fixed	fix	VERB
ftr-493	660	24	amount	amount	NOUN
ftr-493	660	25	upon	upon	SCONJ
ftr-493	660	26	liquidation	liquidation	NOUN
ftr-493	660	27	of	of	ADP
ftr-493	660	28	the	the	DET
ftr-493	660	29	trust	trust	NOUN
ftr-493	660	30	(	(	PUNCT
ftr-493	660	31	equal	equal	ADJ
ftr-493	660	32	to	to	ADP
ftr-493	660	33	approximately	approximately	ADV
ftr-493	660	34	fifty	fifty	NUM
ftr-493	660	35	percent	percent	NOUN
ftr-493	660	36	of	of	ADP
ftr-493	660	37	the	the	DET
ftr-493	660	38	purchase	purchase	NOUN
ftr-493	660	39	price	price	NOUN
ftr-493	660	40	for	for	ADP
ftr-493	660	41	the	the	DET
ftr-493	660	42	underlying	underlie	VERB
ftr-493	660	43	stocks	stock	NOUN
ftr-493	660	44	)	)	PUNCT
ftr-493	660	45	and	and	CCONJ
ftr-493	660	46	(	(	PUNCT
ftr-493	660	47	ii	ii	NOUN
ftr-493	660	48	)	)	PUNCT
ftr-493	660	49	a	a	DET
ftr-493	660	50	current	current	ADJ
ftr-493	660	51	return	return	NOUN
ftr-493	660	52	based	base	VERB
ftr-493	660	53	on	on	ADP
ftr-493	660	54	prevailing	prevail	VERB
ftr-493	660	55	money	money	NOUN
ftr-493	660	56	market	market	NOUN
ftr-493	660	57	interest	interest	NOUN
ftr-493	660	58	rates	rate	NOUN
ftr-493	660	59	.	.	PUNCT
ftr-493	661	1	holders	holder	NOUN
ftr-493	661	2	of	of	ADP
ftr-493	661	3	the	the	DET
ftr-493	661	4	second	second	ADJ
ftr-493	661	5	class	class	NOUN
ftr-493	661	6	of	of	ADP
ftr-493	661	7	certificates	certificate	NOUN
ftr-493	661	8	(	(	PUNCT
ftr-493	661	9	the	the	DET
ftr-493	661	10	"	"	PUNCT
ftr-493	661	11	common	common	ADJ
ftr-493	661	12	certificates	certificate	NOUN
ftr-493	661	13	"	"	PUNCT
ftr-493	661	14	;	;	PUNCT
ftr-493	661	15	the	the	DET
ftr-493	661	16	preferred	prefer	VERB
ftr-493	661	17	certificates	certificate	NOUN
ftr-493	661	18	and	and	CCONJ
ftr-493	661	19	the	the	DET
ftr-493	661	20	common	common	ADJ
ftr-493	661	21	certificates	certificate	NOUN
ftr-493	661	22	,	,	PUNCT
ftr-493	661	23	collectively	collectively	ADV
ftr-493	661	24	,	,	PUNCT
ftr-493	661	25	the	the	DET
ftr-493	661	26	"	"	PUNCT
ftr-493	661	27	certificates	certificate	NOUN
ftr-493	661	28	"	"	PUNCT
ftr-493	661	29	)	)	PUNCT
ftr-493	661	30	were	be	AUX
ftr-493	661	31	entitled	entitle	VERB
ftr-493	661	32	to	to	PART
ftr-493	661	33	receive	receive	VERB
ftr-493	661	34	,	,	PUNCT
ftr-493	661	35	both	both	PRON
ftr-493	661	36	currently	currently	ADV
ftr-493	661	37	and	and	CCONJ
ftr-493	661	38	upon	upon	SCONJ
ftr-493	661	39	liquidation	liquidation	NOUN
ftr-493	661	40	,	,	PUNCT
ftr-493	661	41	any	any	DET
ftr-493	661	42	cash	cash	NOUN
ftr-493	661	43	flow	flow	NOUN
ftr-493	661	44	of	of	ADP
ftr-493	661	45	the	the	DET
ftr-493	661	46	trust	trust	NOUN
ftr-493	661	47	remaining	remain	VERB
ftr-493	661	48	after	after	ADP
ftr-493	661	49	payment	payment	NOUN
ftr-493	661	50	of	of	ADP
ftr-493	661	51	the	the	DET
ftr-493	661	52	amounts	amount	NOUN
ftr-493	661	53	to	to	ADP
ftr-493	661	54	which	which	PRON
ftr-493	661	55	the	the	DET
ftr-493	661	56	preferred	preferred	ADJ
ftr-493	661	57	certificate	certificate	NOUN
ftr-493	661	58	holders	holder	NOUN
ftr-493	661	59	were	be	AUX
ftr-493	661	60	entitled.9	entitled.9	ADJ
ftr-493	661	61	"	"	PUNCT
ftr-493	661	62	thus	thus	ADV
ftr-493	661	63	,	,	PUNCT
ftr-493	661	64	the	the	DET
ftr-493	661	65	common	common	ADJ
ftr-493	661	66	certificates	certificate	NOUN
ftr-493	661	67	were	be	AUX
ftr-493	661	68	effectively	effectively	ADV
ftr-493	661	69	subordinated	subordinate	VERB
ftr-493	661	70	to	to	ADP
ftr-493	661	71	the	the	DET
ftr-493	661	72	preferred	prefer	VERB
ftr-493	661	73	certificates	certificate	NOUN
ftr-493	661	74	.	.	PUNCT
ftr-493	661	75	'	'	PUNCT
ftr-493	662	1	because	because	SCONJ
ftr-493	662	2	these	these	DET
ftr-493	662	3	transactions	transaction	NOUN
ftr-493	662	4	were	be	AUX
ftr-493	662	5	done	do	VERB
ftr-493	662	6	as	as	ADP
ftr-493	662	7	private	private	ADJ
ftr-493	662	8	placements	placement	NOUN
ftr-493	662	9	,	,	PUNCT
ftr-493	662	10	their	their	PRON
ftr-493	662	11	89	89	NUM
ftr-493	662	12	.	.	PUNCT
ftr-493	663	1	merrill	merrill	NOUN
ftr-493	663	2	splits	split	VERB
ftr-493	663	3	percs	percs	PROPN
ftr-493	663	4	in	in	ADP
ftr-493	663	5	two	two	NUM
ftr-493	663	6	,	,	PUNCT
ftr-493	663	7	corp	corp	PROPN
ftr-493	663	8	.	.	PROPN
ftr-493	663	9	financing	finance	VERB
ftr-493	663	10	wk	wk	PROPN
ftr-493	663	11	.	.	PROPN
ftr-493	663	12	,	,	PUNCT
ftr-493	663	13	aug	aug	PROPN
ftr-493	663	14	.	.	PROPN
ftr-493	663	15	3	3	NUM
ftr-493	663	16	,	,	PUNCT
ftr-493	663	17	1992	1992	NUM
ftr-493	663	18	,	,	PUNCT
ftr-493	663	19	at	at	ADP
ftr-493	663	20	1	1	NUM
ftr-493	663	21	.	.	NOUN
ftr-493	663	22	90	90	NUM
ftr-493	663	23	.	.	PUNCT
ftr-493	664	1	in	in	ADP
ftr-493	664	2	particular	particular	ADJ
ftr-493	664	3	,	,	PUNCT
ftr-493	664	4	the	the	DET
ftr-493	664	5	trust	trust	NOUN
ftr-493	664	6	would	would	AUX
ftr-493	664	7	acquire	acquire	VERB
ftr-493	664	8	"	"	PUNCT
ftr-493	664	9	preferred	preferred	ADJ
ftr-493	664	10	equity	equity	NOUN
ftr-493	664	11	redeemable	redeemable	NOUN
ftr-493	664	12	cumulative	cumulative	ADJ
ftr-493	664	13	securities	security	NOUN
ftr-493	664	14	"	"	PUNCT
ftr-493	664	15	(	(	PUNCT
ftr-493	664	16	"	"	PUNCT
ftr-493	664	17	percs	perc	NOUN
ftr-493	664	18	"	"	PUNCT
ftr-493	664	19	)	)	PUNCT
ftr-493	664	20	,	,	PUNCT
ftr-493	664	21	which	which	PRON
ftr-493	664	22	are	be	AUX
ftr-493	664	23	preferred	preferred	ADJ
ftr-493	664	24	stocks	stock	NOUN
ftr-493	664	25	having	have	VERB
ftr-493	664	26	a	a	DET
ftr-493	664	27	relatively	relatively	ADV
ftr-493	664	28	high	high	ADJ
ftr-493	664	29	dividend	dividend	NOUN
ftr-493	664	30	yield	yield	NOUN
ftr-493	664	31	and	and	CCONJ
ftr-493	664	32	are	be	AUX
ftr-493	664	33	mandatorily	mandatorily	ADV
ftr-493	664	34	convertible	convertible	ADJ
ftr-493	664	35	into	into	ADP
ftr-493	664	36	the	the	DET
ftr-493	664	37	issuer	issuer	NOUN
ftr-493	664	38	's	's	PART
ftr-493	664	39	common	common	ADJ
ftr-493	664	40	stock	stock	NOUN
ftr-493	664	41	after	after	ADP
ftr-493	664	42	a	a	DET
ftr-493	664	43	fixed	fix	VERB
ftr-493	664	44	period	period	NOUN
ftr-493	664	45	of	of	ADP
ftr-493	664	46	time	time	NOUN
ftr-493	664	47	.	.	PUNCT
ftr-493	665	1	91	91	NUM
ftr-493	665	2	.	.	PUNCT
ftr-493	666	1	thus	thus	ADV
ftr-493	666	2	,	,	PUNCT
ftr-493	666	3	if	if	SCONJ
ftr-493	666	4	the	the	DET
ftr-493	666	5	trust	trust	NOUN
ftr-493	666	6	receives	receive	VERB
ftr-493	666	7	$	$	SYM
ftr-493	666	8	10	10	NUM
ftr-493	666	9	of	of	ADP
ftr-493	666	10	dividends	dividend	NOUN
ftr-493	666	11	on	on	ADP
ftr-493	666	12	the	the	DET
ftr-493	666	13	underlying	underlie	VERB
ftr-493	666	14	stock	stock	NOUN
ftr-493	666	15	during	during	ADP
ftr-493	666	16	a	a	DET
ftr-493	666	17	given	give	VERB
ftr-493	666	18	period	period	NOUN
ftr-493	666	19	and	and	CCONJ
ftr-493	666	20	is	be	AUX
ftr-493	666	21	required	require	VERB
ftr-493	666	22	to	to	PART
ftr-493	666	23	pay	pay	VERB
ftr-493	666	24	$	$	SYM
ftr-493	666	25	4	4	NUM
ftr-493	666	26	with	with	ADP
ftr-493	666	27	respect	respect	NOUN
ftr-493	666	28	to	to	ADP
ftr-493	666	29	the	the	DET
ftr-493	666	30	preferred	prefer	VERB
ftr-493	666	31	certificates	certificate	NOUN
ftr-493	666	32	,	,	PUNCT
ftr-493	666	33	the	the	DET
ftr-493	666	34	common	common	ADJ
ftr-493	666	35	certificates	certificate	NOUN
ftr-493	666	36	will	will	AUX
ftr-493	666	37	be	be	AUX
ftr-493	666	38	entitled	entitle	VERB
ftr-493	666	39	to	to	ADP
ftr-493	666	40	$	$	SYM
ftr-493	666	41	6	6	NUM
ftr-493	666	42	.	.	PUNCT
ftr-493	667	1	because	because	SCONJ
ftr-493	667	2	the	the	DET
ftr-493	667	3	current	current	ADJ
ftr-493	667	4	return	return	NOUN
ftr-493	667	5	on	on	ADP
ftr-493	667	6	the	the	DET
ftr-493	667	7	preferred	preferred	ADJ
ftr-493	667	8	certificates	certificate	NOUN
ftr-493	667	9	is	be	AUX
ftr-493	667	10	based	base	VERB
ftr-493	667	11	on	on	ADP
ftr-493	667	12	prevailing	prevail	VERB
ftr-493	667	13	money	money	NOUN
ftr-493	667	14	market	market	NOUN
ftr-493	667	15	interest	interest	NOUN
ftr-493	667	16	rates	rate	NOUN
ftr-493	667	17	,	,	PUNCT
ftr-493	667	18	the	the	DET
ftr-493	667	19	current	current	ADJ
ftr-493	667	20	return	return	NOUN
ftr-493	667	21	on	on	ADP
ftr-493	667	22	the	the	DET
ftr-493	667	23	common	common	ADJ
ftr-493	667	24	certificates	certificate	NOUN
ftr-493	667	25	is	be	AUX
ftr-493	667	26	inversely	inversely	ADV
ftr-493	667	27	correlated	correlate	VERB
ftr-493	667	28	to	to	ADP
ftr-493	667	29	changes	change	NOUN
ftr-493	667	30	in	in	ADP
ftr-493	667	31	money	money	NOUN
ftr-493	667	32	market	market	NOUN
ftr-493	667	33	interest	interest	NOUN
ftr-493	667	34	rates	rate	NOUN
ftr-493	667	35	.	.	PUNCT
ftr-493	668	1	the	the	DET
ftr-493	668	2	common	common	ADJ
ftr-493	668	3	certificateholders	certificateholder	NOUN
ftr-493	668	4	'	'	PART
ftr-493	668	5	position	position	NOUN
ftr-493	668	6	is	be	AUX
ftr-493	668	7	thus	thus	ADV
ftr-493	668	8	akin	akin	ADJ
ftr-493	668	9	to	to	ADP
ftr-493	668	10	an	an	DET
ftr-493	668	11	"	"	PUNCT
ftr-493	668	12	inverse	inverse	ADJ
ftr-493	668	13	floater	floater	NOUN
ftr-493	668	14	"	"	PUNCT
ftr-493	668	15	class	class	NOUN
ftr-493	668	16	in	in	ADP
ftr-493	668	17	a	a	DET
ftr-493	668	18	real	real	ADJ
ftr-493	668	19	estate	estate	NOUN
ftr-493	668	20	mortgage	mortgage	NOUN
ftr-493	668	21	investment	investment	NOUN
ftr-493	668	22	conduit	conduit	NOUN
ftr-493	668	23	.	.	PUNCT
ftr-493	669	1	similarly	similarly	ADV
ftr-493	669	2	,	,	PUNCT
ftr-493	669	3	since	since	SCONJ
ftr-493	669	4	the	the	DET
ftr-493	669	5	common	common	ADJ
ftr-493	669	6	certificates	certificate	NOUN
ftr-493	669	7	are	be	AUX
ftr-493	669	8	entitled	entitle	VERB
ftr-493	669	9	to	to	ADP
ftr-493	669	10	all	all	DET
ftr-493	669	11	the	the	DET
ftr-493	669	12	liquidation	liquidation	NOUN
ftr-493	669	13	proceeds	proceed	NOUN
ftr-493	669	14	from	from	ADP
ftr-493	669	15	the	the	DET
ftr-493	669	16	trust	trust	NOUN
ftr-493	669	17	after	after	ADP
ftr-493	669	18	payment	payment	NOUN
ftr-493	669	19	of	of	ADP
ftr-493	669	20	the	the	DET
ftr-493	669	21	preferred	preferred	ADJ
ftr-493	669	22	certificate	certificate	NOUN
ftr-493	669	23	's	's	PART
ftr-493	669	24	priority	priority	NOUN
ftr-493	669	25	fixed	fix	VERB
ftr-493	669	26	liquidation	liquidation	NOUN
ftr-493	669	27	amount	amount	NOUN
ftr-493	669	28	,	,	PUNCT
ftr-493	669	29	the	the	DET
ftr-493	669	30	common	common	ADJ
ftr-493	669	31	certificate	certificate	NOUN
ftr-493	669	32	holders	holder	NOUN
ftr-493	669	33	enjoy	enjoy	VERB
ftr-493	669	34	100	100	NUM
ftr-493	669	35	%	%	NOUN
ftr-493	669	36	of	of	ADP
ftr-493	669	37	the	the	DET
ftr-493	669	38	upside	upside	NOUN
ftr-493	669	39	,	,	PUNCT
ftr-493	669	40	and	and	CCONJ
ftr-493	669	41	the	the	DET
ftr-493	669	42	first	first	ADJ
ftr-493	669	43	loss	loss	NOUN
ftr-493	669	44	position	position	NOUN
ftr-493	669	45	on	on	ADP
ftr-493	669	46	the	the	DET
ftr-493	669	47	downside	downside	NOUN
ftr-493	669	48	,	,	PUNCT
ftr-493	669	49	with	with	ADP
ftr-493	669	50	respect	respect	NOUN
ftr-493	669	51	to	to	ADP
ftr-493	669	52	the	the	DET
ftr-493	669	53	underlying	underlie	VERB
ftr-493	669	54	stocks	stock	NOUN
ftr-493	669	55	.	.	PUNCT
ftr-493	670	1	92	92	NUM
ftr-493	670	2	.	.	PUNCT
ftr-493	671	1	the	the	DET
ftr-493	671	2	structure	structure	NOUN
ftr-493	671	3	of	of	ADP
ftr-493	671	4	the	the	DET
ftr-493	671	5	trust	trust	NOUN
ftr-493	671	6	resembles	resemble	VERB
ftr-493	671	7	the	the	DET
ftr-493	671	8	americus	americus	PROPN
ftr-493	671	9	trust	trust	PROPN
ftr-493	671	10	prime	prime	NOUN
ftr-493	671	11	and	and	CCONJ
ftr-493	671	12	score	score	NOUN
ftr-493	671	13	transactions	transaction	NOUN
ftr-493	671	14	that	that	PRON
ftr-493	671	15	were	be	AUX
ftr-493	671	16	done	do	VERB
ftr-493	671	17	in	in	ADP
ftr-493	671	18	the	the	DET
ftr-493	671	19	early	early	ADJ
ftr-493	671	20	1980s	1980s	NUM
ftr-493	671	21	.	.	PUNCT
ftr-493	672	1	see	see	VERB
ftr-493	672	2	,	,	PUNCT
ftr-493	672	3	e.g.	e.g.	ADV
ftr-493	672	4	,	,	PUNCT
ftr-493	672	5	americus	americus	PROPN
ftr-493	672	6	trust	trust	PROPN
ftr-493	672	7	for	for	ADP
ftr-493	672	8	american	american	PROPN
ftr-493	672	9	home	home	PROPN
ftr-493	672	10	products	product	NOUN
ftr-493	672	11	shares	share	NOUN
ftr-493	672	12	,	,	PUNCT
ftr-493	672	13	dec	dec	PROPN
ftr-493	672	14	.	.	PROPN
ftr-493	672	15	1	1	NUM
ftr-493	672	16	,	,	PUNCT
ftr-493	672	17	1986	1986	NUM
ftr-493	672	18	prospectus	prospectus	NOUN
ftr-493	672	19	.	.	PUNCT
ftr-493	673	1	while	while	SCONJ
ftr-493	673	2	existing	exist	VERB
ftr-493	673	3	americus	americus	NOUN
ftr-493	673	4	trusts	trust	NOUN
ftr-493	673	5	were	be	AUX
ftr-493	673	6	treated	treat	VERB
ftr-493	673	7	as	as	ADP
ftr-493	673	8	grantor	grantor	NOUN
ftr-493	673	9	trusts	trust	NOUN
ftr-493	673	10	for	for	ADP
ftr-493	673	11	tax	tax	NOUN
ftr-493	673	12	purposes	purpose	NOUN
ftr-493	673	13	pursuant	pursuant	ADJ
ftr-493	673	14	to	to	ADP
ftr-493	673	15	a	a	DET
ftr-493	673	16	series	series	NOUN
ftr-493	673	17	of	of	ADP
ftr-493	673	18	private	private	ADJ
ftr-493	673	19	rulings	ruling	NOUN
ftr-493	673	20	from	from	ADP
ftr-493	673	21	the	the	DET
ftr-493	673	22	service	service	NOUN
ftr-493	673	23	,	,	PUNCT
ftr-493	673	24	similar	similar	ADJ
ftr-493	673	25	trusts	trust	NOUN
ftr-493	673	26	established	establish	VERB
ftr-493	673	27	today	today	NOUN
ftr-493	673	28	can	can	AUX
ftr-493	673	29	not	not	PART
ftr-493	673	30	qualify	qualify	VERB
ftr-493	673	31	as	as	ADP
ftr-493	673	32	grantor	grantor	NOUN
ftr-493	673	33	trusts	trust	NOUN
ftr-493	673	34	.	.	PUNCT
ftr-493	674	1	regs	regs	PROPN
ftr-493	674	2	.	.	PUNCT
ftr-493	675	1	§	§	PROPN
ftr-493	675	2	301.7701	301.7701	NUM
ftr-493	675	3	-	-	SYM
ftr-493	675	4	4(c	4(c	NUM
ftr-493	675	5	)	)	PUNCT
ftr-493	675	6	,	,	PUNCT
ftr-493	675	7	ex	ex	NOUN
ftr-493	675	8	.	.	NOUN
ftr-493	675	9	3	3	X
ftr-493	675	10	.	.	PUNCT
ftr-493	676	1	[	[	X
ftr-493	676	2	vol	vol	NOUN
ftr-493	676	3	.	.	PUNCT
ftr-493	676	4	1:5	1:5	NUM
ftr-493	676	5	selected	select	VERB
ftr-493	676	6	issues	issue	NOUN
ftr-493	676	7	in	in	ADP
ftr-493	676	8	the	the	DET
ftr-493	676	9	taxation	taxation	NOUN
ftr-493	676	10	of	of	ADP
ftr-493	676	11	swaps	swap	NOUN
ftr-493	676	12	operative	operative	ADJ
ftr-493	676	13	documents	document	NOUN
ftr-493	676	14	are	be	AUX
ftr-493	676	15	not	not	PART
ftr-493	676	16	generally	generally	ADV
ftr-493	676	17	available	available	ADJ
ftr-493	676	18	.	.	PUNCT
ftr-493	677	1	nevertheless	nevertheless	ADV
ftr-493	677	2	,	,	PUNCT
ftr-493	677	3	it	it	PRON
ftr-493	677	4	is	be	AUX
ftr-493	677	5	not	not	PART
ftr-493	677	6	too	too	ADV
ftr-493	677	7	difficult	difficult	ADJ
ftr-493	677	8	to	to	PART
ftr-493	677	9	"	"	PUNCT
ftr-493	677	10	reverse	reverse	VERB
ftr-493	677	11	engineer	engineer	NOUN
ftr-493	677	12	"	"	PUNCT
ftr-493	677	13	these	these	DET
ftr-493	677	14	transactions	transaction	NOUN
ftr-493	677	15	from	from	ADP
ftr-493	677	16	an	an	DET
ftr-493	677	17	economic	economic	ADJ
ftr-493	677	18	and	and	CCONJ
ftr-493	677	19	tax	tax	NOUN
ftr-493	677	20	perspective	perspective	NOUN
ftr-493	677	21	.	.	PUNCT
ftr-493	678	1	in	in	ADP
ftr-493	678	2	particular	particular	ADJ
ftr-493	678	3	,	,	PUNCT
ftr-493	678	4	these	these	DET
ftr-493	678	5	transactions	transaction	NOUN
ftr-493	678	6	probably	probably	ADV
ftr-493	678	7	achieved	achieve	VERB
ftr-493	678	8	three	three	NUM
ftr-493	678	9	goals	goal	NOUN
ftr-493	678	10	that	that	PRON
ftr-493	678	11	are	be	AUX
ftr-493	678	12	common	common	ADJ
ftr-493	678	13	to	to	ADP
ftr-493	678	14	many	many	ADJ
ftr-493	678	15	,	,	PUNCT
ftr-493	678	16	if	if	SCONJ
ftr-493	678	17	not	not	PART
ftr-493	678	18	most	most	ADJ
ftr-493	678	19	,	,	PUNCT
ftr-493	678	20	structured	structured	ADJ
ftr-493	678	21	finance	finance	NOUN
ftr-493	678	22	transactions	transaction	NOUN
ftr-493	678	23	today	today	NOUN
ftr-493	678	24	:	:	PUNCT
ftr-493	678	25	(	(	PUNCT
ftr-493	678	26	i	i	NOUN
ftr-493	678	27	)	)	PUNCT
ftr-493	678	28	dividing	divide	VERB
ftr-493	678	29	up	up	ADP
ftr-493	678	30	,	,	PUNCT
ftr-493	678	31	and	and	CCONJ
ftr-493	678	32	in	in	ADP
ftr-493	678	33	some	some	DET
ftr-493	678	34	cases	case	NOUN
ftr-493	678	35	restructuring	restructure	VERB
ftr-493	678	36	,	,	PUNCT
ftr-493	678	37	the	the	DET
ftr-493	678	38	cash	cash	NOUN
ftr-493	678	39	flows	flow	VERB
ftr-493	678	40	from	from	ADP
ftr-493	678	41	the	the	DET
ftr-493	678	42	underlying	underlie	VERB
ftr-493	678	43	trust	trust	NOUN
ftr-493	678	44	assets	asset	NOUN
ftr-493	678	45	into	into	ADP
ftr-493	678	46	multiple	multiple	ADJ
ftr-493	678	47	classes	class	NOUN
ftr-493	678	48	of	of	ADP
ftr-493	678	49	certificates	certificate	NOUN
ftr-493	678	50	in	in	ADP
ftr-493	678	51	order	order	NOUN
ftr-493	678	52	to	to	PART
ftr-493	678	53	better	well	ADV
ftr-493	678	54	meet	meet	VERB
ftr-493	678	55	the	the	DET
ftr-493	678	56	economic	economic	ADJ
ftr-493	678	57	risk	risk	NOUN
ftr-493	678	58	and	and	CCONJ
ftr-493	678	59	reward	reward	VERB
ftr-493	678	60	profiles	profile	NOUN
ftr-493	678	61	of	of	ADP
ftr-493	678	62	different	different	ADJ
ftr-493	678	63	investors,93	investors,93	NOUN
ftr-493	678	64	(	(	PUNCT
ftr-493	678	65	ii	ii	NOUN
ftr-493	678	66	)	)	PUNCT
ftr-493	678	67	making	make	VERB
ftr-493	678	68	the	the	DET
ftr-493	678	69	trust	trust	NOUN
ftr-493	678	70	"	"	PUNCT
ftr-493	678	71	tax	tax	NOUN
ftr-493	678	72	transparent	transparent	NOUN
ftr-493	678	73	"	"	PUNCT
ftr-493	678	74	so	so	SCONJ
ftr-493	678	75	that	that	SCONJ
ftr-493	678	76	income	income	NOUN
ftr-493	678	77	from	from	ADP
ftr-493	678	78	the	the	DET
ftr-493	678	79	trust	trust	NOUN
ftr-493	678	80	assets	asset	NOUN
ftr-493	678	81	is	be	AUX
ftr-493	678	82	subject	subject	ADJ
ftr-493	678	83	to	to	ADP
ftr-493	678	84	only	only	ADV
ftr-493	678	85	a	a	DET
ftr-493	678	86	single	single	ADJ
ftr-493	678	87	layer	layer	NOUN
ftr-493	678	88	of	of	ADP
ftr-493	678	89	tax	tax	NOUN
ftr-493	678	90	at	at	ADP
ftr-493	678	91	the	the	DET
ftr-493	678	92	certificate	certificate	NOUN
ftr-493	678	93	holder	holder	NOUN
ftr-493	678	94	level	level	NOUN
ftr-493	678	95	(	(	PUNCT
ftr-493	678	96	and	and	CCONJ
ftr-493	678	97	not	not	PART
ftr-493	678	98	a	a	DET
ftr-493	678	99	second	second	ADJ
ftr-493	678	100	layer	layer	NOUN
ftr-493	678	101	of	of	ADP
ftr-493	678	102	tax	tax	NOUN
ftr-493	678	103	at	at	ADP
ftr-493	678	104	the	the	DET
ftr-493	678	105	trust	trust	NOUN
ftr-493	678	106	level	level	NOUN
ftr-493	678	107	)	)	PUNCT
ftr-493	678	108	,	,	PUNCT
ftr-493	678	109	and	and	CCONJ
ftr-493	678	110	(	(	PUNCT
ftr-493	678	111	iii	iii	NOUN
ftr-493	678	112	)	)	PUNCT
ftr-493	678	113	passing	pass	VERB
ftr-493	678	114	through	through	ADP
ftr-493	678	115	to	to	ADP
ftr-493	678	116	the	the	DET
ftr-493	678	117	corporate	corporate	ADJ
ftr-493	678	118	certificate	certificate	NOUN
ftr-493	678	119	holders	holder	VERB
ftr-493	678	120	the	the	DET
ftr-493	678	121	tax	tax	NOUN
ftr-493	678	122	-	-	PUNCT
ftr-493	678	123	advantaged	advantaged	ADJ
ftr-493	678	124	character	character	NOUN
ftr-493	678	125	(	(	PUNCT
ftr-493	678	126	here	here	ADV
ftr-493	678	127	,	,	PUNCT
ftr-493	678	128	the	the	DET
ftr-493	678	129	drd	drd	NOUN
ftr-493	678	130	)	)	PUNCT
ftr-493	678	131	of	of	ADP
ftr-493	678	132	the	the	DET
ftr-493	678	133	trust	trust	NOUN
ftr-493	678	134	income	income	NOUN
ftr-493	678	135	to	to	ADP
ftr-493	678	136	the	the	DET
ftr-493	678	137	greatest	great	ADJ
ftr-493	678	138	extent	extent	NOUN
ftr-493	678	139	possible	possible	ADJ
ftr-493	678	140	.	.	PUNCT
ftr-493	678	141	4	4	NUM
ftr-493	678	142	by	by	ADP
ftr-493	678	143	achieving	achieve	VERB
ftr-493	678	144	all	all	DET
ftr-493	678	145	these	these	DET
ftr-493	678	146	goals	goal	NOUN
ftr-493	678	147	,	,	PUNCT
ftr-493	678	148	the	the	DET
ftr-493	678	149	sponsor	sponsor	NOUN
ftr-493	678	150	of	of	ADP
ftr-493	678	151	the	the	DET
ftr-493	678	152	transaction	transaction	NOUN
ftr-493	678	153	,	,	PUNCT
ftr-493	678	154	merrill	merrill	PROPN
ftr-493	678	155	lynch	lynch	PROPN
ftr-493	678	156	in	in	ADP
ftr-493	678	157	our	our	PRON
ftr-493	678	158	case	case	NOUN
ftr-493	678	159	,	,	PUNCT
ftr-493	678	160	can	can	AUX
ftr-493	678	161	maximize	maximize	VERB
ftr-493	678	162	the	the	DET
ftr-493	678	163	value	value	NOUN
ftr-493	678	164	of	of	ADP
ftr-493	678	165	the	the	DET
ftr-493	678	166	underlying	underlie	VERB
ftr-493	678	167	assets	asset	NOUN
ftr-493	678	168	,	,	PUNCT
ftr-493	678	169	thereby	thereby	ADV
ftr-493	678	170	increasing	increase	VERB
ftr-493	678	171	the	the	DET
ftr-493	678	172	proceeds	proceed	NOUN
ftr-493	678	173	to	to	ADP
ftr-493	678	174	the	the	DET
ftr-493	678	175	original	original	ADJ
ftr-493	678	176	owner(s	owner(s	NOUN
ftr-493	678	177	)	)	PUNCT
ftr-493	678	178	of	of	ADP
ftr-493	678	179	those	those	DET
ftr-493	678	180	assets	asset	NOUN
ftr-493	678	181	(	(	PUNCT
ftr-493	678	182	who	who	PRON
ftr-493	678	183	will	will	AUX
ftr-493	678	184	generally	generally	ADV
ftr-493	678	185	be	be	AUX
ftr-493	678	186	selling	sell	VERB
ftr-493	678	187	them	they	PRON
ftr-493	678	188	to	to	ADP
ftr-493	678	189	the	the	DET
ftr-493	678	190	trust	trust	NOUN
ftr-493	678	191	or	or	CCONJ
ftr-493	678	192	other	other	ADJ
ftr-493	678	193	issuing	issue	VERB
ftr-493	678	194	vehicle	vehicle	NOUN
ftr-493	678	195	)	)	PUNCT
ftr-493	678	196	and	and	CCONJ
ftr-493	678	197	,	,	PUNCT
ftr-493	678	198	hopefully	hopefully	ADV
ftr-493	678	199	,	,	PUNCT
ftr-493	678	200	earn	earn	VERB
ftr-493	678	201	a	a	DET
ftr-493	678	202	big	big	ADJ
ftr-493	678	203	fee	fee	NOUN
ftr-493	678	204	for	for	ADP
ftr-493	678	205	itself	itself	PRON
ftr-493	678	206	.	.	PUNCT
ftr-493	679	1	b.	b.	PROPN
ftr-493	679	2	dividing	divide	VERB
ftr-493	679	3	up	up	ADP
ftr-493	679	4	cash	cash	NOUN
ftr-493	679	5	flows	flow	NOUN
ftr-493	679	6	to	to	PART
ftr-493	679	7	better	well	ADV
ftr-493	679	8	meet	meet	VERB
ftr-493	679	9	investor	investor	NOUN
ftr-493	679	10	objectives	objective	NOUN
ftr-493	679	11	how	how	SCONJ
ftr-493	679	12	the	the	DET
ftr-493	679	13	merrill	merrill	NOUN
ftr-493	679	14	lynch	lynch	PROPN
ftr-493	679	15	product	product	PROPN
ftr-493	679	16	satisfies	satisfy	VERB
ftr-493	679	17	the	the	DET
ftr-493	679	18	first	first	ADJ
ftr-493	679	19	goal	goal	NOUN
ftr-493	679	20	set	set	VERB
ftr-493	679	21	forth	forth	ADP
ftr-493	679	22	above	above	ADV
ftr-493	679	23	is	be	AUX
ftr-493	679	24	relatively	relatively	ADV
ftr-493	679	25	straightforward	straightforward	ADJ
ftr-493	679	26	.	.	PUNCT
ftr-493	680	1	the	the	DET
ftr-493	680	2	two	two	NUM
ftr-493	680	3	classes	class	NOUN
ftr-493	680	4	of	of	ADP
ftr-493	680	5	certificates	certificate	NOUN
ftr-493	680	6	have	have	VERB
ftr-493	680	7	different	different	ADJ
ftr-493	680	8	93	93	NUM
ftr-493	680	9	.	.	PUNCT
ftr-493	681	1	in	in	ADP
ftr-493	681	2	part	part	NOUN
ftr-493	681	3	because	because	SCONJ
ftr-493	681	4	of	of	ADP
ftr-493	681	5	tax	tax	NOUN
ftr-493	681	6	considerations	consideration	NOUN
ftr-493	681	7	(	(	PUNCT
ftr-493	681	8	i.e.	i.e.	X
ftr-493	681	9	,	,	PUNCT
ftr-493	681	10	the	the	DET
ftr-493	681	11	need	need	NOUN
ftr-493	681	12	to	to	PART
ftr-493	681	13	ensure	ensure	VERB
ftr-493	681	14	that	that	SCONJ
ftr-493	681	15	the	the	DET
ftr-493	681	16	trust	trust	NOUN
ftr-493	681	17	or	or	CCONJ
ftr-493	681	18	other	other	ADJ
ftr-493	681	19	issuing	issue	VERB
ftr-493	681	20	vehicle	vehicle	NOUN
ftr-493	681	21	is	be	AUX
ftr-493	681	22	not	not	PART
ftr-493	681	23	subject	subject	ADJ
ftr-493	681	24	to	to	ADP
ftr-493	681	25	an	an	DET
ftr-493	681	26	entity	entity	NOUN
ftr-493	681	27	-	-	PUNCT
ftr-493	681	28	level	level	NOUN
ftr-493	681	29	tax	tax	NOUN
ftr-493	681	30	)	)	PUNCT
ftr-493	681	31	,	,	PUNCT
ftr-493	681	32	some	some	DET
ftr-493	681	33	structured	structured	ADJ
ftr-493	681	34	finance	finance	NOUN
ftr-493	681	35	transactions	transaction	NOUN
ftr-493	681	36	,	,	PUNCT
ftr-493	681	37	particularly	particularly	ADV
ftr-493	681	38	those	those	PRON
ftr-493	681	39	involving	involve	VERB
ftr-493	681	40	auto	auto	NOUN
ftr-493	681	41	loans	loan	NOUN
ftr-493	681	42	or	or	CCONJ
ftr-493	681	43	other	other	ADJ
ftr-493	681	44	non	non	ADJ
ftr-493	681	45	-	-	ADJ
ftr-493	681	46	equity	equity	ADJ
ftr-493	681	47	receivables	receivables	NOUN
ftr-493	681	48	,	,	PUNCT
ftr-493	681	49	do	do	AUX
ftr-493	681	50	not	not	PART
ftr-493	681	51	appear	appear	VERB
ftr-493	681	52	to	to	PART
ftr-493	681	53	achieve	achieve	VERB
ftr-493	681	54	this	this	DET
ftr-493	681	55	first	first	ADJ
ftr-493	681	56	goal	goal	NOUN
ftr-493	681	57	.	.	PUNCT
ftr-493	682	1	instead	instead	ADV
ftr-493	682	2	,	,	PUNCT
ftr-493	682	3	such	such	ADJ
ftr-493	682	4	transactions	transaction	NOUN
ftr-493	682	5	are	be	AUX
ftr-493	682	6	structured	structure	VERB
ftr-493	682	7	as	as	ADP
ftr-493	682	8	"	"	PUNCT
ftr-493	682	9	pass	pass	NOUN
ftr-493	682	10	-	-	PUNCT
ftr-493	682	11	throughs	throughs	NOUN
ftr-493	682	12	,	,	PUNCT
ftr-493	682	13	"	"	PUNCT
ftr-493	682	14	in	in	ADP
ftr-493	682	15	which	which	PRON
ftr-493	682	16	all	all	DET
ftr-493	682	17	the	the	DET
ftr-493	682	18	cash	cash	NOUN
ftr-493	682	19	flow	flow	NOUN
ftr-493	682	20	from	from	ADP
ftr-493	682	21	the	the	DET
ftr-493	682	22	underlying	underlie	VERB
ftr-493	682	23	assets	asset	NOUN
ftr-493	682	24	is	be	AUX
ftr-493	682	25	passed	pass	VERB
ftr-493	682	26	through	through	ADP
ftr-493	682	27	currently	currently	ADV
ftr-493	682	28	to	to	ADP
ftr-493	682	29	the	the	DET
ftr-493	682	30	investors	investor	NOUN
ftr-493	682	31	on	on	ADP
ftr-493	682	32	a	a	DET
ftr-493	682	33	pro	pro	ADJ
ftr-493	682	34	rata	rata	ADJ
ftr-493	682	35	basis	basis	NOUN
ftr-493	682	36	.	.	PUNCT
ftr-493	683	1	even	even	ADV
ftr-493	683	2	in	in	ADP
ftr-493	683	3	those	those	DET
ftr-493	683	4	cases	case	NOUN
ftr-493	683	5	,	,	PUNCT
ftr-493	683	6	however	however	ADV
ftr-493	683	7	,	,	PUNCT
ftr-493	683	8	the	the	DET
ftr-493	683	9	seller	seller	NOUN
ftr-493	683	10	or	or	CCONJ
ftr-493	683	11	servicer	servicer	NOUN
ftr-493	683	12	of	of	ADP
ftr-493	683	13	the	the	DET
ftr-493	683	14	assets	asset	NOUN
ftr-493	683	15	commonly	commonly	ADV
ftr-493	683	16	retains	retain	VERB
ftr-493	683	17	a	a	DET
ftr-493	683	18	subordinated	subordinated	ADJ
ftr-493	683	19	interest	interest	NOUN
ftr-493	683	20	in	in	ADP
ftr-493	683	21	the	the	DET
ftr-493	683	22	assets	asset	NOUN
ftr-493	683	23	in	in	ADP
ftr-493	683	24	the	the	DET
ftr-493	683	25	form	form	NOUN
ftr-493	683	26	of	of	ADP
ftr-493	683	27	a	a	DET
ftr-493	683	28	right	right	NOUN
ftr-493	683	29	to	to	PART
ftr-493	683	30	receive	receive	VERB
ftr-493	683	31	"	"	PUNCT
ftr-493	683	32	'	'	PUNCT
ftr-493	683	33	excess	excess	ADJ
ftr-493	683	34	servicing	servicing	NOUN
ftr-493	683	35	"	"	PUNCT
ftr-493	683	36	(	(	PUNCT
ftr-493	683	37	i.e.	i.e.	X
ftr-493	683	38	,	,	PUNCT
ftr-493	683	39	a	a	DET
ftr-493	683	40	right	right	NOUN
ftr-493	683	41	to	to	PART
ftr-493	683	42	receive	receive	VERB
ftr-493	683	43	amounts	amount	NOUN
ftr-493	683	44	for	for	ADP
ftr-493	683	45	servicing	service	VERB
ftr-493	683	46	the	the	DET
ftr-493	683	47	assets	asset	NOUN
ftr-493	683	48	in	in	ADP
ftr-493	683	49	excess	excess	NOUN
ftr-493	683	50	of	of	ADP
ftr-493	683	51	reasonable	reasonable	ADJ
ftr-493	683	52	compensation	compensation	NOUN
ftr-493	683	53	for	for	ADP
ftr-493	683	54	services	service	NOUN
ftr-493	683	55	rendered	render	VERB
ftr-493	683	56	)	)	PUNCT
ftr-493	683	57	or	or	CCONJ
ftr-493	683	58	of	of	ADP
ftr-493	683	59	an	an	DET
ftr-493	683	60	"	"	PUNCT
ftr-493	683	61	interest	interest	NOUN
ftr-493	683	62	strip	strip	NOUN
ftr-493	683	63	"	"	PUNCT
ftr-493	683	64	which	which	PRON
ftr-493	683	65	entitles	entitle	VERB
ftr-493	683	66	the	the	DET
ftr-493	683	67	seller	seller	NOUN
ftr-493	683	68	/	/	SYM
ftr-493	683	69	servicer	servicer	NOUN
ftr-493	683	70	to	to	ADP
ftr-493	683	71	all	all	DET
ftr-493	683	72	the	the	DET
ftr-493	683	73	interest	interest	NOUN
ftr-493	683	74	on	on	ADP
ftr-493	683	75	the	the	DET
ftr-493	683	76	underlying	underlie	VERB
ftr-493	683	77	assets	asset	NOUN
ftr-493	683	78	in	in	ADP
ftr-493	683	79	excess	excess	NOUN
ftr-493	683	80	of	of	ADP
ftr-493	683	81	amounts	amount	NOUN
ftr-493	683	82	necessary	necessary	ADJ
ftr-493	683	83	to	to	PART
ftr-493	683	84	pay	pay	VERB
ftr-493	683	85	pass	pass	VERB
ftr-493	683	86	-	-	PUNCT
ftr-493	683	87	through	through	ADP
ftr-493	683	88	interest	interest	NOUN
ftr-493	683	89	on	on	ADP
ftr-493	683	90	the	the	DET
ftr-493	683	91	investor	investor	NOUN
ftr-493	683	92	certificates	certificate	NOUN
ftr-493	683	93	and	and	CCONJ
ftr-493	683	94	trust	trust	NOUN
ftr-493	683	95	expenses	expense	NOUN
ftr-493	683	96	.	.	PUNCT
ftr-493	684	1	thus	thus	ADV
ftr-493	684	2	,	,	PUNCT
ftr-493	684	3	even	even	ADV
ftr-493	684	4	these	these	DET
ftr-493	684	5	transactions	transaction	NOUN
ftr-493	684	6	divide	divide	VERB
ftr-493	684	7	up	up	ADP
ftr-493	684	8	the	the	DET
ftr-493	684	9	cash	cash	NOUN
ftr-493	684	10	flows	flow	NOUN
ftr-493	684	11	from	from	ADP
ftr-493	684	12	the	the	DET
ftr-493	684	13	underlying	underlie	VERB
ftr-493	684	14	assets	asset	NOUN
ftr-493	684	15	to	to	PART
ftr-493	684	16	better	well	ADV
ftr-493	684	17	meet	meet	VERB
ftr-493	684	18	the	the	DET
ftr-493	684	19	risk	risk	NOUN
ftr-493	684	20	/	/	SYM
ftr-493	684	21	reward	reward	NOUN
ftr-493	684	22	profiles	profile	NOUN
ftr-493	684	23	of	of	ADP
ftr-493	684	24	particular	particular	ADJ
ftr-493	684	25	investing	investing	NOUN
ftr-493	684	26	groups	group	NOUN
ftr-493	684	27	.	.	PUNCT
ftr-493	685	1	94	94	NUM
ftr-493	685	2	.	.	PUNCT
ftr-493	686	1	sometimes	sometimes	ADV
ftr-493	686	2	,	,	PUNCT
ftr-493	686	3	the	the	DET
ftr-493	686	4	tax	tax	NOUN
ftr-493	686	5	benefits	benefit	NOUN
ftr-493	686	6	attributable	attributable	ADJ
ftr-493	686	7	to	to	ADP
ftr-493	686	8	the	the	DET
ftr-493	686	9	underlying	underlie	VERB
ftr-493	686	10	assets	asset	NOUN
ftr-493	686	11	will	will	AUX
ftr-493	686	12	be	be	AUX
ftr-493	686	13	more	more	ADV
ftr-493	686	14	valuable	valuable	ADJ
ftr-493	686	15	to	to	ADP
ftr-493	686	16	one	one	NUM
ftr-493	686	17	type	type	NOUN
ftr-493	686	18	of	of	ADP
ftr-493	686	19	investor	investor	NOUN
ftr-493	686	20	than	than	ADP
ftr-493	686	21	to	to	ADP
ftr-493	686	22	another	another	PRON
ftr-493	686	23	.	.	PUNCT
ftr-493	687	1	for	for	ADP
ftr-493	687	2	example	example	NOUN
ftr-493	687	3	,	,	PUNCT
ftr-493	687	4	the	the	DET
ftr-493	687	5	50	50	NUM
ftr-493	687	6	%	%	NOUN
ftr-493	687	7	interst	interst	NOUN
ftr-493	687	8	exclusion	exclusion	NOUN
ftr-493	687	9	for	for	ADP
ftr-493	687	10	employee	employee	NOUN
ftr-493	687	11	stock	stock	NOUN
ftr-493	687	12	ownership	ownership	NOUN
ftr-493	687	13	plan	plan	NOUN
ftr-493	687	14	(	(	PUNCT
ftr-493	687	15	"	"	PUNCT
ftr-493	687	16	esop	esop	PROPN
ftr-493	687	17	"	"	PUNCT
ftr-493	687	18	)	)	PUNCT
ftr-493	687	19	loans	loan	NOUN
ftr-493	687	20	under	under	ADP
ftr-493	687	21	section	section	NOUN
ftr-493	687	22	133	133	NUM
ftr-493	687	23	is	be	AUX
ftr-493	687	24	available	available	ADJ
ftr-493	687	25	only	only	ADV
ftr-493	687	26	to	to	ADP
ftr-493	687	27	banks	bank	NOUN
ftr-493	687	28	,	,	PUNCT
ftr-493	687	29	insurance	insurance	NOUN
ftr-493	687	30	companies	company	NOUN
ftr-493	687	31	,	,	PUNCT
ftr-493	687	32	regulated	regulate	VERB
ftr-493	687	33	investment	investment	NOUN
ftr-493	687	34	companies	company	NOUN
ftr-493	687	35	,	,	PUNCT
ftr-493	687	36	and	and	CCONJ
ftr-493	687	37	corporations	corporation	NOUN
ftr-493	687	38	actively	actively	ADV
ftr-493	687	39	engaged	engage	VERB
ftr-493	687	40	in	in	ADP
ftr-493	687	41	the	the	DET
ftr-493	687	42	business	business	NOUN
ftr-493	687	43	of	of	ADP
ftr-493	687	44	lending	lend	VERB
ftr-493	687	45	money	money	NOUN
ftr-493	687	46	.	.	PUNCT
ftr-493	688	1	accordingly	accordingly	ADV
ftr-493	688	2	,	,	PUNCT
ftr-493	688	3	structured	structured	ADJ
ftr-493	688	4	finance	finance	NOUN
ftr-493	688	5	transactions	transaction	NOUN
ftr-493	688	6	involving	involve	VERB
ftr-493	688	7	esop	esop	NOUN
ftr-493	688	8	loans	loan	NOUN
ftr-493	688	9	sometimes	sometimes	ADV
ftr-493	688	10	involve	involve	VERB
ftr-493	688	11	two	two	NUM
ftr-493	688	12	classes	class	NOUN
ftr-493	688	13	of	of	ADP
ftr-493	688	14	investor	investor	NOUN
ftr-493	688	15	interests	interest	NOUN
ftr-493	688	16	,	,	PUNCT
ftr-493	688	17	one	one	NUM
ftr-493	688	18	of	of	ADP
ftr-493	688	19	which	which	PRON
ftr-493	688	20	(	(	PUNCT
ftr-493	688	21	structured	structure	VERB
ftr-493	688	22	in	in	ADP
ftr-493	688	23	the	the	DET
ftr-493	688	24	form	form	NOUN
ftr-493	688	25	of	of	ADP
ftr-493	688	26	equity	equity	NOUN
ftr-493	688	27	certificates	certificate	NOUN
ftr-493	688	28	)	)	PUNCT
ftr-493	688	29	is	be	AUX
ftr-493	688	30	entitled	entitle	VERB
ftr-493	688	31	to	to	ADP
ftr-493	688	32	the	the	DET
ftr-493	688	33	section	section	NOUN
ftr-493	688	34	133	133	NUM
ftr-493	688	35	exclusion	exclusion	NOUN
ftr-493	688	36	and	and	CCONJ
ftr-493	688	37	is	be	AUX
ftr-493	688	38	sold	sell	VERB
ftr-493	688	39	to	to	ADP
ftr-493	688	40	the	the	DET
ftr-493	688	41	types	type	NOUN
ftr-493	688	42	of	of	ADP
ftr-493	688	43	qualifying	qualify	VERB
ftr-493	688	44	financial	financial	ADJ
ftr-493	688	45	institutions	institution	NOUN
ftr-493	688	46	set	set	VERB
ftr-493	688	47	forth	forth	ADP
ftr-493	688	48	in	in	ADP
ftr-493	688	49	section	section	NOUN
ftr-493	688	50	133	133	NUM
ftr-493	688	51	,	,	PUNCT
ftr-493	688	52	and	and	CCONJ
ftr-493	688	53	the	the	DET
ftr-493	688	54	other	other	ADJ
ftr-493	688	55	of	of	ADP
ftr-493	688	56	which	which	PRON
ftr-493	688	57	(	(	PUNCT
ftr-493	688	58	structured	structure	VERB
ftr-493	688	59	as	as	ADP
ftr-493	688	60	debt	debt	NOUN
ftr-493	688	61	obligations	obligation	NOUN
ftr-493	688	62	)	)	PUNCT
ftr-493	688	63	is	be	AUX
ftr-493	688	64	not	not	PART
ftr-493	688	65	entitled	entitle	VERB
ftr-493	688	66	to	to	ADP
ftr-493	688	67	such	such	ADJ
ftr-493	688	68	benefits	benefit	NOUN
ftr-493	688	69	and	and	CCONJ
ftr-493	688	70	is	be	AUX
ftr-493	688	71	sold	sell	VERB
ftr-493	688	72	to	to	ADP
ftr-493	688	73	non	non	ADJ
ftr-493	688	74	-	-	ADJ
ftr-493	688	75	qualifying	qualify	VERB
ftr-493	688	76	investors	investor	NOUN
ftr-493	688	77	.	.	PUNCT
ftr-493	689	1	this	this	PRON
ftr-493	689	2	,	,	PUNCT
ftr-493	689	3	of	of	ADP
ftr-493	689	4	course	course	NOUN
ftr-493	689	5	,	,	PUNCT
ftr-493	689	6	is	be	AUX
ftr-493	689	7	a	a	DET
ftr-493	689	8	combination	combination	NOUN
ftr-493	689	9	of	of	ADP
ftr-493	689	10	goals	goal	NOUN
ftr-493	689	11	(	(	PUNCT
ftr-493	689	12	i	i	NOUN
ftr-493	689	13	)	)	PUNCT
ftr-493	689	14	and	and	CCONJ
ftr-493	689	15	(	(	PUNCT
ftr-493	689	16	iii	iii	NOUN
ftr-493	689	17	)	)	PUNCT
ftr-493	689	18	described	describe	VERB
ftr-493	689	19	in	in	ADP
ftr-493	689	20	the	the	DET
ftr-493	689	21	text	text	NOUN
ftr-493	689	22	,	,	PUNCT
ftr-493	689	23	and	and	CCONJ
ftr-493	689	24	these	these	DET
ftr-493	689	25	transactions	transaction	NOUN
ftr-493	689	26	have	have	VERB
ftr-493	689	27	an	an	DET
ftr-493	689	28	obvious	obvious	ADJ
ftr-493	689	29	kinship	kinship	NOUN
ftr-493	689	30	to	to	ADP
ftr-493	689	31	real	real	ADJ
ftr-493	689	32	estate	estate	NOUN
ftr-493	689	33	syndications	syndication	NOUN
ftr-493	689	34	and	and	CCONJ
ftr-493	689	35	leveraged	leveraged	ADJ
ftr-493	689	36	lease	lease	NOUN
ftr-493	689	37	transactions	transaction	NOUN
ftr-493	689	38	.	.	PUNCT
ftr-493	690	1	19931	19931	NUM
ftr-493	690	2	florida	florida	PROPN
ftr-493	690	3	tax	tax	NOUN
ftr-493	690	4	review	review	NOUN
ftr-493	690	5	risk	risk	NOUN
ftr-493	690	6	and	and	CCONJ
ftr-493	690	7	reward	reward	VERB
ftr-493	690	8	profiles	profile	NOUN
ftr-493	690	9	and	and	CCONJ
ftr-493	690	10	would	would	AUX
ftr-493	690	11	therefore	therefore	ADV
ftr-493	690	12	generally	generally	ADV
ftr-493	690	13	appeal	appeal	VERB
ftr-493	690	14	to	to	ADP
ftr-493	690	15	different	different	ADJ
ftr-493	690	16	types	type	NOUN
ftr-493	690	17	of	of	ADP
ftr-493	690	18	investors	investor	NOUN
ftr-493	690	19	.	.	PUNCT
ftr-493	691	1	for	for	ADP
ftr-493	691	2	example	example	NOUN
ftr-493	691	3	,	,	PUNCT
ftr-493	691	4	the	the	DET
ftr-493	691	5	common	common	ADJ
ftr-493	691	6	certificates	certificate	NOUN
ftr-493	691	7	,	,	PUNCT
ftr-493	691	8	by	by	ADP
ftr-493	691	9	virtue	virtue	NOUN
ftr-493	691	10	of	of	ADP
ftr-493	691	11	their	their	PRON
ftr-493	691	12	subordination	subordination	NOUN
ftr-493	691	13	to	to	ADP
ftr-493	691	14	the	the	DET
ftr-493	691	15	preferred	prefer	VERB
ftr-493	691	16	certificates	certificate	NOUN
ftr-493	691	17	,	,	PUNCT
ftr-493	691	18	the	the	DET
ftr-493	691	19	fact	fact	NOUN
ftr-493	691	20	that	that	SCONJ
ftr-493	691	21	their	their	PRON
ftr-493	691	22	current	current	ADJ
ftr-493	691	23	return	return	NOUN
ftr-493	691	24	is	be	AUX
ftr-493	691	25	inversely	inversely	ADV
ftr-493	691	26	correlated	correlate	VERB
ftr-493	691	27	to	to	ADP
ftr-493	691	28	changes	change	NOUN
ftr-493	691	29	in	in	ADP
ftr-493	691	30	interest	interest	NOUN
ftr-493	691	31	rates	rate	NOUN
ftr-493	691	32	,	,	PUNCT
ftr-493	691	33	and	and	CCONJ
ftr-493	691	34	the	the	DET
ftr-493	691	35	fact	fact	NOUN
ftr-493	691	36	that	that	SCONJ
ftr-493	691	37	they	they	PRON
ftr-493	691	38	are	be	AUX
ftr-493	691	39	entitled	entitle	VERB
ftr-493	691	40	to	to	ADP
ftr-493	691	41	100	100	NUM
ftr-493	691	42	%	%	NOUN
ftr-493	691	43	of	of	ADP
ftr-493	691	44	the	the	DET
ftr-493	691	45	upside	upside	NOUN
ftr-493	691	46	on	on	ADP
ftr-493	691	47	the	the	DET
ftr-493	691	48	underlying	underlie	VERB
ftr-493	691	49	portfolio	portfolio	NOUN
ftr-493	691	50	,	,	PUNCT
ftr-493	691	51	bear	bear	VERB
ftr-493	691	52	substantially	substantially	ADV
ftr-493	691	53	more	more	ADJ
ftr-493	691	54	risk	risk	NOUN
ftr-493	691	55	and	and	CCONJ
ftr-493	691	56	have	have	VERB
ftr-493	691	57	a	a	DET
ftr-493	691	58	greater	great	ADJ
ftr-493	691	59	potential	potential	NOUN
ftr-493	691	60	for	for	ADP
ftr-493	691	61	reward	reward	NOUN
ftr-493	691	62	than	than	ADP
ftr-493	691	63	the	the	DET
ftr-493	691	64	preferred	prefer	VERB
ftr-493	691	65	certificates	certificate	NOUN
ftr-493	691	66	;	;	PUNCT
ftr-493	691	67	95	95	NUM
ftr-493	691	68	accordingly	accordingly	ADV
ftr-493	691	69	,	,	PUNCT
ftr-493	691	70	the	the	DET
ftr-493	691	71	common	common	ADJ
ftr-493	691	72	certificate	certificate	NOUN
ftr-493	691	73	holders	holder	NOUN
ftr-493	691	74	should	should	AUX
ftr-493	691	75	earn	earn	VERB
ftr-493	691	76	a	a	DET
ftr-493	691	77	greater	great	ADJ
ftr-493	691	78	return	return	NOUN
ftr-493	691	79	,	,	PUNCT
ftr-493	691	80	on	on	ADP
ftr-493	691	81	average	average	ADJ
ftr-493	691	82	,	,	PUNCT
ftr-493	691	83	over	over	ADP
ftr-493	691	84	the	the	DET
ftr-493	691	85	life	life	NOUN
ftr-493	691	86	of	of	ADP
ftr-493	691	87	the	the	DET
ftr-493	691	88	transaction	transaction	NOUN
ftr-493	691	89	than	than	ADP
ftr-493	691	90	the	the	DET
ftr-493	691	91	preferred	preferred	ADJ
ftr-493	691	92	certificate	certificate	NOUN
ftr-493	691	93	holders	holder	NOUN
ftr-493	691	94	.	.	PUNCT
ftr-493	692	1	in	in	ADP
ftr-493	692	2	general	general	ADJ
ftr-493	692	3	,	,	PUNCT
ftr-493	692	4	then	then	ADV
ftr-493	692	5	,	,	PUNCT
ftr-493	692	6	the	the	DET
ftr-493	692	7	preferred	prefer	VERB
ftr-493	692	8	certificates	certificate	NOUN
ftr-493	692	9	should	should	AUX
ftr-493	692	10	appeal	appeal	VERB
ftr-493	692	11	more	more	ADJ
ftr-493	692	12	to	to	ADP
ftr-493	692	13	risk	risk	NOUN
ftr-493	692	14	-	-	PUNCT
ftr-493	692	15	averse	averse	ADJ
ftr-493	692	16	investors	investor	NOUN
ftr-493	692	17	and	and	CCONJ
ftr-493	692	18	the	the	DET
ftr-493	692	19	common	common	ADJ
ftr-493	692	20	certificates	certificate	NOUN
ftr-493	692	21	should	should	AUX
ftr-493	692	22	appeal	appeal	VERB
ftr-493	692	23	more	more	ADJ
ftr-493	692	24	to	to	ADP
ftr-493	692	25	risk	risk	NOUN
ftr-493	692	26	-	-	PUNCT
ftr-493	692	27	taking	take	VERB
ftr-493	692	28	investors	investor	NOUN
ftr-493	692	29	.	.	PUNCT
ftr-493	693	1	by	by	ADP
ftr-493	693	2	issuing	issue	VERB
ftr-493	693	3	two	two	NUM
ftr-493	693	4	classes	class	NOUN
ftr-493	693	5	of	of	ADP
ftr-493	693	6	certificates	certificate	NOUN
ftr-493	693	7	,	,	PUNCT
ftr-493	693	8	rather	rather	ADV
ftr-493	693	9	than	than	ADP
ftr-493	693	10	a	a	DET
ftr-493	693	11	single	single	ADJ
ftr-493	693	12	class	class	NOUN
ftr-493	693	13	of	of	ADP
ftr-493	693	14	"	"	PUNCT
ftr-493	693	15	straight	straight	ADV
ftr-493	693	16	up	up	ADV
ftr-493	693	17	,	,	PUNCT
ftr-493	693	18	"	"	PUNCT
ftr-493	693	19	pro	pro	ADJ
ftr-493	693	20	rata	rata	ADJ
ftr-493	693	21	pass	pass	VERB
ftr-493	693	22	-	-	PUNCT
ftr-493	693	23	through	through	ADP
ftr-493	693	24	certificates	certificate	NOUN
ftr-493	693	25	,	,	PUNCT
ftr-493	693	26	merrill	merrill	PROPN
ftr-493	693	27	lynch	lynch	PROPN
ftr-493	693	28	is	be	AUX
ftr-493	693	29	able	able	ADJ
ftr-493	693	30	to	to	PART
ftr-493	693	31	offer	offer	VERB
ftr-493	693	32	a	a	DET
ftr-493	693	33	"	"	PUNCT
ftr-493	693	34	pure	pure	ADJ
ftr-493	693	35	play	play	NOUN
ftr-493	693	36	"	"	PUNCT
ftr-493	693	37	to	to	ADP
ftr-493	693	38	each	each	DET
ftr-493	693	39	class	class	NOUN
ftr-493	693	40	of	of	ADP
ftr-493	693	41	investor	investor	NOUN
ftr-493	693	42	;	;	PUNCT
ftr-493	693	43	each	each	DET
ftr-493	693	44	investor	investor	NOUN
ftr-493	693	45	is	be	AUX
ftr-493	693	46	therefore	therefore	ADV
ftr-493	693	47	able	able	ADJ
ftr-493	693	48	to	to	PART
ftr-493	693	49	buy	buy	VERB
ftr-493	693	50	the	the	DET
ftr-493	693	51	type	type	NOUN
ftr-493	693	52	of	of	ADP
ftr-493	693	53	certificate	certificate	NOUN
ftr-493	693	54	that	that	PRON
ftr-493	693	55	best	good	ADJ
ftr-493	693	56	meets	meet	VERB
ftr-493	693	57	its	its	PRON
ftr-493	693	58	particular	particular	ADJ
ftr-493	693	59	economic	economic	ADJ
ftr-493	693	60	needs	need	NOUN
ftr-493	693	61	and	and	CCONJ
ftr-493	693	62	desires	desire	NOUN
ftr-493	693	63	,	,	PUNCT
ftr-493	693	64	and	and	CCONJ
ftr-493	693	65	is	be	AUX
ftr-493	693	66	willing	willing	ADJ
ftr-493	693	67	to	to	PART
ftr-493	693	68	"	"	PUNCT
ftr-493	693	69	pay	pay	VERB
ftr-493	693	70	up	up	ADP
ftr-493	693	71	"	"	PUNCT
ftr-493	693	72	for	for	ADP
ftr-493	693	73	that	that	DET
ftr-493	693	74	opportunity	opportunity	NOUN
ftr-493	693	75	.	.	PUNCT
ftr-493	694	1	c.	c.	NOUN
ftr-493	694	2	tax	tax	NOUN
ftr-493	694	3	transparency	transparency	NOUN
ftr-493	694	4	the	the	DET
ftr-493	694	5	second	second	ADJ
ftr-493	694	6	goal	goal	NOUN
ftr-493	694	7	is	be	AUX
ftr-493	694	8	that	that	PRON
ftr-493	694	9	of	of	ADP
ftr-493	694	10	tax	tax	NOUN
ftr-493	694	11	transparency	transparency	NOUN
ftr-493	694	12	of	of	ADP
ftr-493	694	13	the	the	DET
ftr-493	694	14	trust	trust	NOUN
ftr-493	694	15	.	.	PUNCT
ftr-493	695	1	obviously	obviously	ADV
ftr-493	695	2	,	,	PUNCT
ftr-493	695	3	to	to	ADP
ftr-493	695	4	the	the	DET
ftr-493	695	5	extent	extent	NOUN
ftr-493	695	6	that	that	SCONJ
ftr-493	695	7	cash	cash	NOUN
ftr-493	695	8	flows	flow	VERB
ftr-493	695	9	from	from	ADP
ftr-493	695	10	the	the	DET
ftr-493	695	11	underlying	underlie	VERB
ftr-493	695	12	stocks	stock	NOUN
ftr-493	695	13	are	be	AUX
ftr-493	695	14	subject	subject	ADJ
ftr-493	695	15	to	to	ADP
ftr-493	695	16	two	two	NUM
ftr-493	695	17	layers	layer	NOUN
ftr-493	695	18	of	of	ADP
ftr-493	695	19	tax	tax	NOUN
ftr-493	695	20	,	,	PUNCT
ftr-493	695	21	the	the	DET
ftr-493	695	22	after	after	ADP
ftr-493	695	23	-	-	PUNCT
ftr-493	695	24	tax	tax	NOUN
ftr-493	695	25	returns	return	NOUN
ftr-493	695	26	to	to	ADP
ftr-493	695	27	the	the	DET
ftr-493	695	28	certificate	certificate	NOUN
ftr-493	695	29	holders	holder	NOUN
ftr-493	695	30	,	,	PUNCT
ftr-493	695	31	and	and	CCONJ
ftr-493	695	32	the	the	DET
ftr-493	695	33	amount	amount	NOUN
ftr-493	695	34	they	they	PRON
ftr-493	695	35	are	be	AUX
ftr-493	695	36	willing	willing	ADJ
ftr-493	695	37	to	to	PART
ftr-493	695	38	pay	pay	VERB
ftr-493	695	39	for	for	ADP
ftr-493	695	40	the	the	DET
ftr-493	695	41	certificates	certificate	NOUN
ftr-493	695	42	,	,	PUNCT
ftr-493	695	43	will	will	AUX
ftr-493	695	44	be	be	AUX
ftr-493	695	45	reduced	reduce	VERB
ftr-493	695	46	.	.	PUNCT
ftr-493	696	1	the	the	DET
ftr-493	696	2	analysis	analysis	NOUN
ftr-493	696	3	of	of	ADP
ftr-493	696	4	whether	whether	SCONJ
ftr-493	696	5	the	the	DET
ftr-493	696	6	trust	trust	NOUN
ftr-493	696	7	will	will	AUX
ftr-493	696	8	be	be	AUX
ftr-493	696	9	subject	subject	ADJ
ftr-493	696	10	to	to	ADP
ftr-493	696	11	an	an	DET
ftr-493	696	12	entity	entity	NOUN
ftr-493	696	13	-	-	PUNCT
ftr-493	696	14	level	level	NOUN
ftr-493	696	15	tax	tax	NOUN
ftr-493	696	16	begins	begin	VERB
ftr-493	696	17	with	with	ADP
ftr-493	696	18	regulations	regulation	NOUN
ftr-493	696	19	section	section	NOUN
ftr-493	696	20	301.7701	301.7701	NUM
ftr-493	696	21	-	-	SYM
ftr-493	696	22	4(c	4(c	NUM
ftr-493	696	23	)	)	PUNCT
ftr-493	696	24	(	(	PUNCT
ftr-493	696	25	the	the	DET
ftr-493	696	26	"	"	PUNCT
ftr-493	696	27	trust	trust	NOUN
ftr-493	696	28	classification	classification	NOUN
ftr-493	696	29	regulations	regulation	NOUN
ftr-493	696	30	"	"	PUNCT
ftr-493	696	31	)	)	PUNCT
ftr-493	696	32	.	.	PUNCT
ftr-493	697	1	generally	generally	ADV
ftr-493	697	2	speaking	speak	VERB
ftr-493	697	3	,	,	PUNCT
ftr-493	697	4	a	a	DET
ftr-493	697	5	state	state	NOUN
ftr-493	697	6	law	law	NOUN
ftr-493	697	7	trust	trust	NOUN
ftr-493	697	8	used	use	VERB
ftr-493	697	9	in	in	ADP
ftr-493	697	10	a	a	DET
ftr-493	697	11	structured	structured	ADJ
ftr-493	697	12	finance	finance	NOUN
ftr-493	697	13	transaction	transaction	NOUN
ftr-493	697	14	can	can	AUX
ftr-493	697	15	be	be	AUX
ftr-493	697	16	taxable	taxable	ADJ
ftr-493	697	17	in	in	ADP
ftr-493	697	18	one	one	NUM
ftr-493	697	19	of	of	ADP
ftr-493	697	20	three	three	NUM
ftr-493	697	21	ways	way	NOUN
ftr-493	697	22	:	:	PUNCT
ftr-493	697	23	(	(	PUNCT
ftr-493	697	24	i	i	NOUN
ftr-493	697	25	)	)	PUNCT
ftr-493	697	26	as	as	ADP
ftr-493	697	27	a	a	DET
ftr-493	697	28	fixed	fix	VERB
ftr-493	697	29	investment	investment	NOUN
ftr-493	697	30	trust	trust	NOUN
ftr-493	697	31	,	,	PUNCT
ftr-493	697	32	taxable	taxable	ADJ
ftr-493	697	33	as	as	ADP
ftr-493	697	34	a	a	DET
ftr-493	697	35	grantor	grantor	NOUN
ftr-493	697	36	trust	trust	NOUN
ftr-493	697	37	under	under	ADP
ftr-493	697	38	subpart	subpart	NOUN
ftr-493	697	39	e	e	NOUN
ftr-493	697	40	of	of	ADP
ftr-493	697	41	subchapter	subchapter	NOUN
ftr-493	697	42	j	j	PROPN
ftr-493	697	43	of	of	ADP
ftr-493	697	44	chapter	chapter	NOUN
ftr-493	697	45	1	1	NUM
ftr-493	697	46	of	of	ADP
ftr-493	697	47	the	the	DET
ftr-493	697	48	code	code	NOUN
ftr-493	697	49	(	(	PUNCT
ftr-493	697	50	sections	section	NOUN
ftr-493	697	51	671	671	NUM
ftr-493	697	52	,	,	PUNCT
ftr-493	697	53	et	et	PROPN
ftr-493	697	54	seq.),96	seq.),96	PROPN
ftr-493	697	55	(	(	PUNCT
ftr-493	697	56	ii	ii	NOUN
ftr-493	697	57	)	)	PUNCT
ftr-493	697	58	as	as	ADP
ftr-493	697	59	a	a	DET
ftr-493	697	60	partnership	partnership	NOUN
ftr-493	697	61	,	,	PUNCT
ftr-493	697	62	or	or	CCONJ
ftr-493	697	63	(	(	PUNCT
ftr-493	697	64	iii	iii	NOUN
ftr-493	697	65	)	)	PUNCT
ftr-493	697	66	as	as	ADP
ftr-493	697	67	an	an	DET
ftr-493	697	68	association	association	NOUN
ftr-493	697	69	taxable	taxable	ADJ
ftr-493	697	70	as	as	ADP
ftr-493	697	71	a	a	DET
ftr-493	697	72	corporation	corporation	NOUN
ftr-493	697	73	.	.	PUNCT
ftr-493	697	74	'	'	PUNCT
ftr-493	698	1	the	the	DET
ftr-493	698	2	first	first	ADJ
ftr-493	698	3	two	two	NUM
ftr-493	698	4	vehicles	vehicle	NOUN
ftr-493	698	5	,	,	PUNCT
ftr-493	698	6	fixed	fix	VERB
ftr-493	698	7	95	95	NUM
ftr-493	698	8	.	.	PUNCT
ftr-493	699	1	in	in	ADP
ftr-493	699	2	essence	essence	NOUN
ftr-493	699	3	,	,	PUNCT
ftr-493	699	4	the	the	DET
ftr-493	699	5	common	common	ADJ
ftr-493	699	6	certificates	certificate	NOUN
ftr-493	699	7	represent	represent	VERB
ftr-493	699	8	a	a	DET
ftr-493	699	9	leveraged	leverage	VERB
ftr-493	699	10	investment	investment	NOUN
ftr-493	699	11	in	in	ADP
ftr-493	699	12	the	the	DET
ftr-493	699	13	underlying	underlie	VERB
ftr-493	699	14	stocks	stock	NOUN
ftr-493	699	15	.	.	PUNCT
ftr-493	700	1	alternatively	alternatively	ADV
ftr-493	700	2	,	,	PUNCT
ftr-493	700	3	the	the	DET
ftr-493	700	4	preferred	preferred	ADJ
ftr-493	700	5	certificate	certificate	NOUN
ftr-493	700	6	holders	holder	NOUN
ftr-493	700	7	could	could	AUX
ftr-493	700	8	be	be	AUX
ftr-493	700	9	viewed	view	VERB
ftr-493	700	10	as	as	ADP
ftr-493	700	11	"	"	PUNCT
ftr-493	700	12	owning	own	VERB
ftr-493	700	13	"	"	PUNCT
ftr-493	700	14	the	the	DET
ftr-493	700	15	underlying	underlie	VERB
ftr-493	700	16	stock	stock	NOUN
ftr-493	700	17	and	and	CCONJ
ftr-493	700	18	as	as	ADP
ftr-493	700	19	having	having	AUX
ftr-493	700	20	sold	sell	VERB
ftr-493	700	21	a	a	DET
ftr-493	700	22	call	call	NOUN
ftr-493	700	23	to	to	ADP
ftr-493	700	24	,	,	PUNCT
ftr-493	700	25	and	and	CCONJ
ftr-493	700	26	bought	buy	VERB
ftr-493	700	27	a	a	DET
ftr-493	700	28	put	put	NOUN
ftr-493	700	29	from	from	ADP
ftr-493	700	30	(	(	PUNCT
ftr-493	700	31	the	the	DET
ftr-493	700	32	call	call	NOUN
ftr-493	700	33	and	and	CCONJ
ftr-493	700	34	put	put	VERB
ftr-493	700	35	having	have	VERB
ftr-493	700	36	different	different	ADJ
ftr-493	700	37	strike	strike	NOUN
ftr-493	700	38	prices	price	NOUN
ftr-493	700	39	)	)	PUNCT
ftr-493	700	40	,	,	PUNCT
ftr-493	700	41	the	the	DET
ftr-493	700	42	common	common	ADJ
ftr-493	700	43	certificate	certificate	NOUN
ftr-493	700	44	holders	holder	NOUN
ftr-493	700	45	.	.	PUNCT
ftr-493	701	1	in	in	ADP
ftr-493	701	2	such	such	ADJ
ftr-493	701	3	case	case	NOUN
ftr-493	701	4	,	,	PUNCT
ftr-493	701	5	it	it	PRON
ftr-493	701	6	is	be	AUX
ftr-493	701	7	unclear	unclear	ADJ
ftr-493	701	8	how	how	SCONJ
ftr-493	701	9	the	the	DET
ftr-493	701	10	common	common	ADJ
ftr-493	701	11	certificate	certificate	NOUN
ftr-493	701	12	holders	holder	NOUN
ftr-493	701	13	'	'	PART
ftr-493	701	14	right	right	NOUN
ftr-493	701	15	to	to	PART
ftr-493	701	16	receive	receive	VERB
ftr-493	701	17	dividends	dividend	NOUN
ftr-493	701	18	from	from	ADP
ftr-493	701	19	the	the	DET
ftr-493	701	20	stocks	stock	NOUN
ftr-493	701	21	should	should	AUX
ftr-493	701	22	be	be	AUX
ftr-493	701	23	characterized	characterize	VERB
ftr-493	701	24	.	.	PUNCT
ftr-493	702	1	for	for	ADP
ftr-493	702	2	example	example	NOUN
ftr-493	702	3	,	,	PUNCT
ftr-493	702	4	should	should	AUX
ftr-493	702	5	they	they	PRON
ftr-493	702	6	be	be	AUX
ftr-493	702	7	treated	treat	VERB
ftr-493	702	8	as	as	ADP
ftr-493	702	9	constructive	constructive	ADJ
ftr-493	702	10	option	option	NOUN
ftr-493	702	11	premiums	premium	NOUN
ftr-493	702	12	?	?	PUNCT
ftr-493	703	1	nevertheless	nevertheless	ADV
ftr-493	703	2	,	,	PUNCT
ftr-493	703	3	this	this	PRON
ftr-493	703	4	seems	seem	VERB
ftr-493	703	5	a	a	DET
ftr-493	703	6	bit	bit	NOUN
ftr-493	703	7	of	of	ADP
ftr-493	703	8	substance	substance	NOUN
ftr-493	703	9	-	-	PUNCT
ftr-493	703	10	over	over	ADP
ftr-493	703	11	-	-	PUNCT
ftr-493	703	12	form	form	NOUN
ftr-493	703	13	analysis	analysis	NOUN
ftr-493	703	14	gone	go	VERB
ftr-493	703	15	amok	amok	ADV
ftr-493	703	16	.	.	PUNCT
ftr-493	704	1	96	96	NUM
ftr-493	704	2	.	.	PUNCT
ftr-493	705	1	grantor	grantor	NOUN
ftr-493	705	2	trusts	trust	NOUN
ftr-493	705	3	are	be	AUX
ftr-493	705	4	transparent	transparent	ADJ
ftr-493	705	5	entities	entity	NOUN
ftr-493	705	6	for	for	ADP
ftr-493	705	7	federal	federal	ADJ
ftr-493	705	8	income	income	NOUN
ftr-493	705	9	tax	tax	NOUN
ftr-493	705	10	purposes	purpose	NOUN
ftr-493	705	11	.	.	PUNCT
ftr-493	706	1	thus	thus	ADV
ftr-493	706	2	,	,	PUNCT
ftr-493	706	3	each	each	DET
ftr-493	706	4	certificate	certificate	NOUN
ftr-493	706	5	holder	holder	NOUN
ftr-493	706	6	in	in	ADP
ftr-493	706	7	a	a	DET
ftr-493	706	8	grantor	grantor	NOUN
ftr-493	706	9	trust	trust	NOUN
ftr-493	706	10	is	be	AUX
ftr-493	706	11	treated	treat	VERB
ftr-493	706	12	as	as	SCONJ
ftr-493	706	13	if	if	SCONJ
ftr-493	706	14	it	it	PRON
ftr-493	706	15	owned	own	VERB
ftr-493	706	16	directly	directly	ADV
ftr-493	706	17	its	its	PRON
ftr-493	706	18	pro	pro	ADJ
ftr-493	706	19	rata	rata	ADJ
ftr-493	706	20	share	share	NOUN
ftr-493	706	21	of	of	ADP
ftr-493	706	22	the	the	DET
ftr-493	706	23	trust	trust	NOUN
ftr-493	706	24	's	's	PART
ftr-493	706	25	assets	asset	NOUN
ftr-493	706	26	and	and	CCONJ
ftr-493	706	27	earned	earn	VERB
ftr-493	706	28	,	,	PUNCT
ftr-493	706	29	or	or	CCONJ
ftr-493	706	30	incurred	incur	VERB
ftr-493	706	31	,	,	PUNCT
ftr-493	706	32	directly	directly	ADV
ftr-493	706	33	its	its	PRON
ftr-493	706	34	pro	pro	ADJ
ftr-493	706	35	rata	rata	ADJ
ftr-493	706	36	share	share	NOUN
ftr-493	706	37	of	of	ADP
ftr-493	706	38	the	the	DET
ftr-493	706	39	trust	trust	NOUN
ftr-493	706	40	's	's	PART
ftr-493	706	41	income	income	NOUN
ftr-493	706	42	and	and	CCONJ
ftr-493	706	43	expenses	expense	NOUN
ftr-493	706	44	.	.	PUNCT
ftr-493	707	1	97	97	NUM
ftr-493	707	2	.	.	PUNCT
ftr-493	708	1	this	this	DET
ftr-493	708	2	tripartite	tripartite	ADJ
ftr-493	708	3	classification	classification	NOUN
ftr-493	708	4	scheme	scheme	NOUN
ftr-493	708	5	,	,	PUNCT
ftr-493	708	6	of	of	ADP
ftr-493	708	7	course	course	NOUN
ftr-493	708	8	,	,	PUNCT
ftr-493	708	9	is	be	AUX
ftr-493	708	10	something	something	PRON
ftr-493	708	11	of	of	ADP
ftr-493	708	12	a	a	DET
ftr-493	708	13	simplification	simplification	NOUN
ftr-493	708	14	.	.	PUNCT
ftr-493	709	1	in	in	ADP
ftr-493	709	2	particular	particular	ADJ
ftr-493	709	3	,	,	PUNCT
ftr-493	709	4	it	it	PRON
ftr-493	709	5	overlooks	overlook	VERB
ftr-493	709	6	such	such	ADJ
ftr-493	709	7	important	important	ADJ
ftr-493	709	8	structured	structured	ADJ
ftr-493	709	9	finance	finance	NOUN
ftr-493	709	10	vehicles	vehicle	NOUN
ftr-493	709	11	as	as	SCONJ
ftr-493	709	12	"	"	PUNCT
ftr-493	709	13	real	real	ADJ
ftr-493	709	14	estate	estate	NOUN
ftr-493	709	15	mortgage	mortgage	NOUN
ftr-493	709	16	[	[	X
ftr-493	709	17	vol	vol	X
ftr-493	709	18	1:5	1:5	NUM
ftr-493	709	19	selected	select	VERB
ftr-493	709	20	issues	issue	NOUN
ftr-493	709	21	in	in	ADP
ftr-493	709	22	the	the	DET
ftr-493	709	23	taxtion	taxtion	NOUN
ftr-493	709	24	of	of	ADP
ftr-493	709	25	swaps	swap	NOUN
ftr-493	709	26	investment	investment	NOUN
ftr-493	709	27	trusts	trust	VERB
ftr-493	709	28	taxable	taxable	ADJ
ftr-493	709	29	as	as	ADP
ftr-493	709	30	grantor	grantor	NOUN
ftr-493	709	31	trusts	trust	NOUN
ftr-493	709	32	and	and	CCONJ
ftr-493	709	33	partnerships	partnership	NOUN
ftr-493	709	34	,	,	PUNCT
ftr-493	709	35	are	be	AUX
ftr-493	709	36	tax	tax	NOUN
ftr-493	709	37	transparent	transparent	ADJ
ftr-493	709	38	.	.	PUNCT
ftr-493	710	1	the	the	DET
ftr-493	710	2	latter	latter	ADJ
ftr-493	710	3	vehicle	vehicle	NOUN
ftr-493	710	4	,	,	PUNCT
ftr-493	710	5	an	an	DET
ftr-493	710	6	association	association	NOUN
ftr-493	710	7	,	,	PUNCT
ftr-493	710	8	is	be	AUX
ftr-493	710	9	not	not	PART
ftr-493	710	10	,	,	PUNCT
ftr-493	710	11	and	and	CCONJ
ftr-493	710	12	tax	tax	NOUN
ftr-493	710	13	lawyers	lawyer	NOUN
ftr-493	710	14	therefore	therefore	ADV
ftr-493	710	15	generally	generally	ADV
ftr-493	710	16	attempt	attempt	VERB
ftr-493	710	17	to	to	PART
ftr-493	710	18	structure	structure	VERB
ftr-493	710	19	transactions	transaction	NOUN
ftr-493	710	20	to	to	PART
ftr-493	710	21	avoid	avoid	VERB
ftr-493	710	22	association	association	NOUN
ftr-493	710	23	status	status	NOUN
ftr-493	710	24	.	.	PUNCT
ftr-493	711	1	under	under	ADP
ftr-493	711	2	regulations	regulation	NOUN
ftr-493	711	3	section	section	NOUN
ftr-493	711	4	301.7701	301.7701	NUM
ftr-493	711	5	-	-	SYM
ftr-493	711	6	4(c),98	4(c),98	NOUN
ftr-493	711	7	a	a	DET
ftr-493	711	8	fixed	fix	VERB
ftr-493	711	9	investment	investment	NOUN
ftr-493	711	10	trust	trust	NOUN
ftr-493	711	11	is	be	AUX
ftr-493	711	12	a	a	DET
ftr-493	711	13	trust	trust	NOUN
ftr-493	711	14	(	(	PUNCT
ftr-493	711	15	i	i	NOUN
ftr-493	711	16	)	)	PUNCT
ftr-493	711	17	in	in	ADP
ftr-493	711	18	which	which	PRON
ftr-493	711	19	"	"	PUNCT
ftr-493	711	20	there	there	PRON
ftr-493	711	21	is	be	VERB
ftr-493	711	22	no	no	DET
ftr-493	711	23	power	power	NOUN
ftr-493	711	24	under	under	ADP
ftr-493	711	25	the	the	DET
ftr-493	711	26	trust	trust	NOUN
ftr-493	711	27	agreement	agreement	NOUN
ftr-493	711	28	to	to	PART
ftr-493	711	29	vary	vary	VERB
ftr-493	711	30	the	the	DET
ftr-493	711	31	investment	investment	NOUN
ftr-493	711	32	of	of	ADP
ftr-493	711	33	the	the	DET
ftr-493	711	34	certificate	certificate	NOUN
ftr-493	711	35	holders	holder	NOUN
ftr-493	711	36	"	"	PUNCT
ftr-493	711	37	99	99	NUM
ftr-493	711	38	and	and	CCONJ
ftr-493	711	39	(	(	PUNCT
ftr-493	711	40	ii	ii	NOUN
ftr-493	711	41	)	)	PUNCT
ftr-493	711	42	which	which	PRON
ftr-493	711	43	only	only	ADV
ftr-493	711	44	has	have	VERB
ftr-493	711	45	a	a	DET
ftr-493	711	46	single	single	ADJ
ftr-493	711	47	class	class	NOUN
ftr-493	711	48	of	of	ADP
ftr-493	711	49	certificates	certificate	NOUN
ftr-493	711	50	.	.	PUNCT
ftr-493	712	1	notwithstanding	notwithstanding	ADP
ftr-493	712	2	(	(	PUNCT
ftr-493	712	3	ii	ii	NOUN
ftr-493	712	4	)	)	PUNCT
ftr-493	712	5	,	,	PUNCT
ftr-493	712	6	multiple	multiple	ADJ
ftr-493	712	7	classes	class	NOUN
ftr-493	712	8	of	of	ADP
ftr-493	712	9	trust	trust	NOUN
ftr-493	712	10	certificates	certificate	NOUN
ftr-493	712	11	are	be	AUX
ftr-493	712	12	permitted	permit	VERB
ftr-493	712	13	where	where	SCONJ
ftr-493	712	14	"	"	PUNCT
ftr-493	712	15	the	the	DET
ftr-493	712	16	trust	trust	NOUN
ftr-493	712	17	is	be	AUX
ftr-493	712	18	formed	form	VERB
ftr-493	712	19	to	to	PART
ftr-493	712	20	facilitate	facilitate	VERB
ftr-493	712	21	direct	direct	ADJ
ftr-493	712	22	investment	investment	NOUN
ftr-493	712	23	in	in	ADP
ftr-493	712	24	the	the	DET
ftr-493	712	25	assets	asset	NOUN
ftr-493	712	26	of	of	ADP
ftr-493	712	27	the	the	DET
ftr-493	712	28	trust	trust	NOUN
ftr-493	712	29	and	and	CCONJ
ftr-493	712	30	the	the	DET
ftr-493	712	31	existence	existence	NOUN
ftr-493	712	32	of	of	ADP
ftr-493	712	33	multiple	multiple	ADJ
ftr-493	712	34	classes	class	NOUN
ftr-493	712	35	of	of	ADP
ftr-493	712	36	ownership	ownership	NOUN
ftr-493	712	37	interests	interest	NOUN
ftr-493	712	38	is	be	AUX
ftr-493	712	39	incidental	incidental	ADJ
ftr-493	712	40	to	to	ADP
ftr-493	712	41	that	that	DET
ftr-493	712	42	purpose	purpose	NOUN
ftr-493	712	43	.	.	PUNCT
ftr-493	712	44	"	"	PUNCT
ftr-493	713	1	thus	thus	ADV
ftr-493	713	2	,	,	PUNCT
ftr-493	713	3	example	example	NOUN
ftr-493	713	4	2	2	NUM
ftr-493	713	5	of	of	ADP
ftr-493	713	6	the	the	DET
ftr-493	713	7	trust	trust	NOUN
ftr-493	713	8	classification	classification	NOUN
ftr-493	713	9	regulations	regulation	NOUN
ftr-493	713	10	applies	apply	VERB
ftr-493	713	11	the	the	DET
ftr-493	713	12	"	"	PUNCT
ftr-493	713	13	incidental	incidental	NOUN
ftr-493	713	14	to	to	ADP
ftr-493	713	15	the	the	DET
ftr-493	713	16	direct	direct	ADJ
ftr-493	713	17	investment	investment	NOUN
ftr-493	713	18	purpose	purpose	NOUN
ftr-493	713	19	"	"	PUNCT
ftr-493	713	20	exception	exception	NOUN
ftr-493	713	21	to	to	ADP
ftr-493	713	22	a	a	DET
ftr-493	713	23	case	case	NOUN
ftr-493	713	24	where	where	SCONJ
ftr-493	713	25	the	the	DET
ftr-493	713	26	trust	trust	NOUN
ftr-493	713	27	,	,	PUNCT
ftr-493	713	28	which	which	PRON
ftr-493	713	29	holds	hold	VERB
ftr-493	713	30	a	a	DET
ftr-493	713	31	pool	pool	NOUN
ftr-493	713	32	of	of	ADP
ftr-493	713	33	residential	residential	ADJ
ftr-493	713	34	mortgages	mortgage	NOUN
ftr-493	713	35	,	,	PUNCT
ftr-493	713	36	issues	issue	VERB
ftr-493	713	37	two	two	NUM
ftr-493	713	38	classes	class	NOUN
ftr-493	713	39	of	of	ADP
ftr-493	713	40	certificates	certificate	NOUN
ftr-493	713	41	.	.	PUNCT
ftr-493	714	1	one	one	NUM
ftr-493	714	2	of	of	ADP
ftr-493	714	3	the	the	DET
ftr-493	714	4	classes	class	NOUN
ftr-493	714	5	of	of	ADP
ftr-493	714	6	certificates	certificate	NOUN
ftr-493	714	7	is	be	AUX
ftr-493	714	8	subordinated	subordinate	VERB
ftr-493	714	9	to	to	ADP
ftr-493	714	10	the	the	DET
ftr-493	714	11	other	other	ADJ
ftr-493	714	12	in	in	ADP
ftr-493	714	13	the	the	DET
ftr-493	714	14	case	case	NOUN
ftr-493	714	15	of	of	ADP
ftr-493	714	16	defaults	default	NOUN
ftr-493	714	17	on	on	ADP
ftr-493	714	18	the	the	DET
ftr-493	714	19	underlying	underlie	VERB
ftr-493	714	20	mortgages	mortgage	NOUN
ftr-493	714	21	,	,	PUNCT
ftr-493	714	22	but	but	CCONJ
ftr-493	714	23	each	each	DET
ftr-493	714	24	class	class	NOUN
ftr-493	714	25	is	be	AUX
ftr-493	714	26	otherwise	otherwise	ADV
ftr-493	714	27	entitled	entitle	VERB
ftr-493	714	28	to	to	ADP
ftr-493	714	29	a	a	DET
ftr-493	714	30	straight	straight	ADJ
ftr-493	714	31	up	up	ADP
ftr-493	714	32	,	,	PUNCT
ftr-493	714	33	pro	pro	ADJ
ftr-493	714	34	rata	rata	ADJ
ftr-493	714	35	share	share	NOUN
ftr-493	714	36	of	of	ADP
ftr-493	714	37	the	the	DET
ftr-493	714	38	trust	trust	NOUN
ftr-493	714	39	's	's	PART
ftr-493	714	40	cash	cash	NOUN
ftr-493	714	41	flow	flow	NOUN
ftr-493	714	42	.	.	PUNCT
ftr-493	715	1	"	"	PUNCT
ftr-493	715	2	°	°	PRON
ftr-493	715	3	n	n	PRON
ftr-493	715	4	similarly	similarly	ADV
ftr-493	715	5	,	,	PUNCT
ftr-493	715	6	example	example	NOUN
ftr-493	715	7	4	4	NUM
ftr-493	715	8	of	of	ADP
ftr-493	715	9	the	the	DET
ftr-493	715	10	trust	trust	NOUN
ftr-493	715	11	classification	classification	NOUN
ftr-493	715	12	regulations	regulation	NOUN
ftr-493	715	13	applies	apply	VERB
ftr-493	715	14	investment	investment	NOUN
ftr-493	715	15	conduits	conduit	NOUN
ftr-493	715	16	"	"	PUNCT
ftr-493	715	17	(	(	PUNCT
ftr-493	715	18	"	"	PUNCT
ftr-493	715	19	remics	remic	NOUN
ftr-493	715	20	"	"	PUNCT
ftr-493	715	21	)	)	PUNCT
ftr-493	715	22	taxable	taxable	ADJ
ftr-493	715	23	under	under	ADP
ftr-493	715	24	sections	section	NOUN
ftr-493	715	25	860a-860	860a-860	NUM
ftr-493	715	26	g	g	NOUN
ftr-493	715	27	,	,	PUNCT
ftr-493	715	28	"	"	PUNCT
ftr-493	715	29	real	real	ADJ
ftr-493	715	30	estate	estate	NOUN
ftr-493	715	31	investment	investment	NOUN
ftr-493	715	32	trusts	trust	NOUN
ftr-493	715	33	"	"	PUNCT
ftr-493	715	34	(	(	PUNCT
ftr-493	715	35	"	"	PUNCT
ftr-493	715	36	reits	reit	NOUN
ftr-493	715	37	"	"	PUNCT
ftr-493	715	38	)	)	PUNCT
ftr-493	715	39	taxable	taxable	ADJ
ftr-493	715	40	under	under	ADP
ftr-493	715	41	sections	section	NOUN
ftr-493	715	42	856	856	NUM
ftr-493	715	43	-	-	SYM
ftr-493	715	44	859	859	NUM
ftr-493	715	45	,	,	PUNCT
ftr-493	715	46	"	"	PUNCT
ftr-493	715	47	regulated	regulated	ADJ
ftr-493	715	48	investment	investment	NOUN
ftr-493	715	49	companies	company	NOUN
ftr-493	715	50	"	"	PUNCT
ftr-493	715	51	(	(	PUNCT
ftr-493	715	52	"	"	PUNCT
ftr-493	715	53	rics-	rics-	X
ftr-493	715	54	)	)	PUNCT
ftr-493	715	55	taxable	taxable	ADJ
ftr-493	715	56	under	under	ADP
ftr-493	715	57	sections	section	NOUN
ftr-493	715	58	851	851	NUM
ftr-493	715	59	-	-	SYM
ftr-493	715	60	855	855	NUM
ftr-493	715	61	,	,	PUNCT
ftr-493	715	62	"	"	PUNCT
ftr-493	715	63	publicly	publicly	ADV
ftr-493	715	64	traded	trade	VERB
ftr-493	715	65	partnerships	partnership	NOUN
ftr-493	715	66	"	"	PUNCT
ftr-493	715	67	taxable	taxable	ADJ
ftr-493	715	68	as	as	ADP
ftr-493	715	69	corporations	corporation	NOUN
ftr-493	715	70	under	under	ADP
ftr-493	715	71	section	section	NOUN
ftr-493	715	72	7704	7704	NUM
ftr-493	715	73	,	,	PUNCT
ftr-493	715	74	and	and	CCONJ
ftr-493	715	75	"	"	PUNCT
ftr-493	715	76	taxable	taxable	ADJ
ftr-493	715	77	mortgage	mortgage	NOUN
ftr-493	715	78	pools	pool	NOUN
ftr-493	715	79	"	"	PUNCT
ftr-493	715	80	taxable	taxable	ADJ
ftr-493	715	81	as	as	ADP
ftr-493	715	82	corporations	corporation	NOUN
ftr-493	715	83	under	under	ADP
ftr-493	715	84	section	section	NOUN
ftr-493	715	85	7701(i	7701(i	PROPN
ftr-493	715	86	)	)	PUNCT
ftr-493	715	87	.	.	PUNCT
ftr-493	716	1	in	in	ADP
ftr-493	716	2	most	most	ADJ
ftr-493	716	3	cases	case	NOUN
ftr-493	716	4	,	,	PUNCT
ftr-493	716	5	of	of	ADP
ftr-493	716	6	course	course	NOUN
ftr-493	716	7	,	,	PUNCT
ftr-493	716	8	tax	tax	NOUN
ftr-493	716	9	lawyers	lawyer	NOUN
ftr-493	716	10	avoid	avoid	VERB
ftr-493	716	11	having	have	VERB
ftr-493	716	12	an	an	DET
ftr-493	716	13	issuing	issue	VERB
ftr-493	716	14	vehicle	vehicle	NOUN
ftr-493	716	15	taxed	tax	VERB
ftr-493	716	16	as	as	ADP
ftr-493	716	17	a	a	DET
ftr-493	716	18	publicly	publicly	ADV
ftr-493	716	19	traded	trade	VERB
ftr-493	716	20	partnership	partnership	NOUN
ftr-493	716	21	or	or	CCONJ
ftr-493	716	22	taxable	taxable	ADJ
ftr-493	716	23	mortgage	mortgage	NOUN
ftr-493	716	24	pool	pool	NOUN
ftr-493	716	25	,	,	PUNCT
ftr-493	716	26	since	since	SCONJ
ftr-493	716	27	both	both	PRON
ftr-493	716	28	of	of	ADP
ftr-493	716	29	these	these	DET
ftr-493	716	30	vehicles	vehicle	NOUN
ftr-493	716	31	are	be	AUX
ftr-493	716	32	subject	subject	ADJ
ftr-493	716	33	to	to	ADP
ftr-493	716	34	an	an	DET
ftr-493	716	35	entity	entity	NOUN
ftr-493	716	36	-	-	PUNCT
ftr-493	716	37	level	level	NOUN
ftr-493	716	38	tax	tax	NOUN
ftr-493	716	39	.	.	PUNCT
ftr-493	717	1	98	98	NUM
ftr-493	717	2	.	.	PUNCT
ftr-493	718	1	the	the	DET
ftr-493	718	2	trust	trust	NOUN
ftr-493	718	3	classification	classification	NOUN
ftr-493	718	4	regulations	regulation	NOUN
ftr-493	718	5	are	be	AUX
ftr-493	718	6	commonly	commonly	ADV
ftr-493	718	7	referred	refer	VERB
ftr-493	718	8	to	to	ADP
ftr-493	718	9	as	as	SCONJ
ftr-493	718	10	the	the	DET
ftr-493	718	11	"	"	PUNCT
ftr-493	718	12	sears	sears	PROPN
ftr-493	718	13	regulations	regulation	NOUN
ftr-493	718	14	"	"	PUNCT
ftr-493	718	15	since	since	SCONJ
ftr-493	718	16	they	they	PRON
ftr-493	718	17	were	be	AUX
ftr-493	718	18	issued	issue	VERB
ftr-493	718	19	in	in	ADP
ftr-493	718	20	the	the	DET
ftr-493	718	21	wake	wake	NOUN
ftr-493	718	22	of	of	ADP
ftr-493	718	23	a	a	DET
ftr-493	718	24	proposed	propose	VERB
ftr-493	718	25	trust	trust	NOUN
ftr-493	718	26	offering	offering	NOUN
ftr-493	718	27	by	by	ADP
ftr-493	718	28	sears	sears	PROPN
ftr-493	718	29	mortgage	mortgage	NOUN
ftr-493	718	30	securities	security	NOUN
ftr-493	718	31	corporation	corporation	NOUN
ftr-493	718	32	in	in	ADP
ftr-493	718	33	1983	1983	NUM
ftr-493	718	34	in	in	ADP
ftr-493	718	35	which	which	PRON
ftr-493	718	36	there	there	PRON
ftr-493	718	37	were	be	VERB
ftr-493	718	38	multiple	multiple	ADJ
ftr-493	718	39	classes	class	NOUN
ftr-493	718	40	of	of	ADP
ftr-493	718	41	ownership	ownership	NOUN
ftr-493	718	42	certificates	certificate	NOUN
ftr-493	718	43	,	,	PUNCT
ftr-493	718	44	with	with	ADP
ftr-493	718	45	different	different	ADJ
ftr-493	718	46	classes	class	NOUN
ftr-493	718	47	being	be	AUX
ftr-493	718	48	entitled	entitle	VERB
ftr-493	718	49	to	to	PART
ftr-493	718	50	receive	receive	VERB
ftr-493	718	51	principal	principal	ADJ
ftr-493	718	52	payments	payment	NOUN
ftr-493	718	53	in	in	ADP
ftr-493	718	54	sequential	sequential	ADJ
ftr-493	718	55	order	order	NOUN
ftr-493	718	56	(	(	PUNCT
ftr-493	718	57	i.e.	i.e.	X
ftr-493	718	58	,	,	PUNCT
ftr-493	718	59	100	100	NUM
ftr-493	718	60	%	%	NOUN
ftr-493	718	61	of	of	ADP
ftr-493	718	62	the	the	DET
ftr-493	718	63	principal	principal	ADJ
ftr-493	718	64	payments	payment	NOUN
ftr-493	718	65	received	receive	VERB
ftr-493	718	66	on	on	ADP
ftr-493	718	67	the	the	DET
ftr-493	718	68	underlying	underlie	VERB
ftr-493	718	69	mortgages	mortgage	NOUN
ftr-493	718	70	was	be	AUX
ftr-493	718	71	paid	pay	VERB
ftr-493	718	72	to	to	ADP
ftr-493	718	73	the	the	DET
ftr-493	718	74	earliest	early	ADJ
ftr-493	718	75	maturing	mature	VERB
ftr-493	718	76	class	class	NOUN
ftr-493	718	77	of	of	ADP
ftr-493	718	78	certificates	certificate	NOUN
ftr-493	718	79	until	until	SCONJ
ftr-493	718	80	they	they	PRON
ftr-493	718	81	were	be	AUX
ftr-493	718	82	fully	fully	ADV
ftr-493	718	83	retired	retire	VERB
ftr-493	718	84	,	,	PUNCT
ftr-493	718	85	then	then	ADV
ftr-493	718	86	100	100	NUM
ftr-493	718	87	%	%	NOUN
ftr-493	718	88	of	of	ADP
ftr-493	718	89	the	the	DET
ftr-493	718	90	principal	principal	NOUN
ftr-493	718	91	received	receive	VERB
ftr-493	718	92	was	be	AUX
ftr-493	718	93	paid	pay	VERB
ftr-493	718	94	to	to	ADP
ftr-493	718	95	the	the	DET
ftr-493	718	96	second	second	ADJ
ftr-493	718	97	earliest	early	ADJ
ftr-493	718	98	maturing	mature	VERB
ftr-493	718	99	class	class	NOUN
ftr-493	718	100	of	of	ADP
ftr-493	718	101	certificates	certificate	NOUN
ftr-493	718	102	until	until	SCONJ
ftr-493	718	103	they	they	PRON
ftr-493	718	104	were	be	AUX
ftr-493	718	105	fully	fully	ADV
ftr-493	718	106	retired	retire	VERB
ftr-493	718	107	,	,	PUNCT
ftr-493	718	108	and	and	CCONJ
ftr-493	718	109	so	so	ADV
ftr-493	718	110	on	on	ADV
ftr-493	718	111	)	)	PUNCT
ftr-493	718	112	.	.	PUNCT
ftr-493	719	1	tax	tax	NOUN
ftr-493	719	2	counsel	counsel	NOUN
ftr-493	719	3	to	to	ADP
ftr-493	719	4	sears	sears	PROPN
ftr-493	719	5	had	have	AUX
ftr-493	719	6	opined	opine	VERB
ftr-493	719	7	that	that	SCONJ
ftr-493	719	8	the	the	DET
ftr-493	719	9	trust	trust	NOUN
ftr-493	719	10	would	would	AUX
ftr-493	719	11	qualify	qualify	VERB
ftr-493	719	12	as	as	ADP
ftr-493	719	13	a	a	DET
ftr-493	719	14	fixed	fix	VERB
ftr-493	719	15	investment	investment	NOUN
ftr-493	719	16	trust	trust	NOUN
ftr-493	719	17	taxable	taxable	ADJ
ftr-493	719	18	as	as	ADP
ftr-493	719	19	a	a	DET
ftr-493	719	20	grantor	grantor	NOUN
ftr-493	719	21	trust	trust	NOUN
ftr-493	719	22	.	.	PUNCT
ftr-493	720	1	the	the	DET
ftr-493	720	2	service	service	NOUN
ftr-493	720	3	disagreed	disagree	VERB
ftr-493	720	4	with	with	ADP
ftr-493	720	5	this	this	DET
ftr-493	720	6	analysis	analysis	NOUN
ftr-493	720	7	,	,	PUNCT
ftr-493	720	8	as	as	SCONJ
ftr-493	720	9	set	set	VERB
ftr-493	720	10	forth	forth	ADP
ftr-493	720	11	in	in	ADP
ftr-493	720	12	the	the	DET
ftr-493	720	13	trust	trust	NOUN
ftr-493	720	14	classification	classification	NOUN
ftr-493	720	15	regulations	regulation	NOUN
ftr-493	720	16	.	.	PUNCT
ftr-493	721	1	the	the	DET
ftr-493	721	2	trust	trust	NOUN
ftr-493	721	3	classification	classification	NOUN
ftr-493	721	4	regulations	regulation	NOUN
ftr-493	721	5	seem	seem	VERB
ftr-493	721	6	to	to	PART
ftr-493	721	7	be	be	AUX
ftr-493	721	8	animated	animate	VERB
ftr-493	721	9	by	by	ADP
ftr-493	721	10	a	a	DET
ftr-493	721	11	concern	concern	NOUN
ftr-493	721	12	that	that	SCONJ
ftr-493	721	13	,	,	PUNCT
ftr-493	721	14	given	give	VERB
ftr-493	721	15	that	that	SCONJ
ftr-493	721	16	the	the	DET
ftr-493	721	17	trust	trust	NOUN
ftr-493	721	18	tax	tax	NOUN
ftr-493	721	19	accounting	accounting	NOUN
ftr-493	721	20	rules	rule	NOUN
ftr-493	721	21	lack	lack	VERB
ftr-493	721	22	the	the	DET
ftr-493	721	23	refinement	refinement	NOUN
ftr-493	721	24	,	,	PUNCT
ftr-493	721	25	flexibility	flexibility	NOUN
ftr-493	721	26	,	,	PUNCT
ftr-493	721	27	and	and	CCONJ
ftr-493	721	28	anti	anti	ADJ
ftr-493	721	29	-	-	ADJ
ftr-493	721	30	abuse	abuse	ADJ
ftr-493	721	31	protections	protection	NOUN
ftr-493	721	32	of	of	ADP
ftr-493	721	33	section	section	NOUN
ftr-493	721	34	704(b)-(c	704(b)-(c	NOUN
ftr-493	721	35	)	)	PUNCT
ftr-493	721	36	(	(	PUNCT
ftr-493	721	37	dealing	deal	VERB
ftr-493	721	38	with	with	ADP
ftr-493	721	39	partnership	partnership	NOUN
ftr-493	721	40	allocations	allocation	NOUN
ftr-493	721	41	)	)	PUNCT
ftr-493	721	42	,	,	PUNCT
ftr-493	721	43	taxable	taxable	ADJ
ftr-493	721	44	income	income	NOUN
ftr-493	721	45	generated	generate	VERB
ftr-493	721	46	by	by	ADP
ftr-493	721	47	the	the	DET
ftr-493	721	48	trust	trust	NOUN
ftr-493	721	49	assets	asset	NOUN
ftr-493	721	50	will	will	AUX
ftr-493	721	51	go	go	VERB
ftr-493	721	52	untaxed	untaxed	ADJ
ftr-493	721	53	at	at	ADP
ftr-493	721	54	the	the	DET
ftr-493	721	55	certificate	certificate	NOUN
ftr-493	721	56	holder	holder	NOUN
ftr-493	721	57	level	level	NOUN
ftr-493	721	58	(	(	PUNCT
ftr-493	721	59	or	or	CCONJ
ftr-493	721	60	,	,	PUNCT
ftr-493	721	61	alternatively	alternatively	ADV
ftr-493	721	62	,	,	PUNCT
ftr-493	721	63	will	will	AUX
ftr-493	721	64	be	be	AUX
ftr-493	721	65	taxed	tax	VERB
ftr-493	721	66	to	to	ADP
ftr-493	721	67	the	the	DET
ftr-493	721	68	"	"	PUNCT
ftr-493	721	69	wrong	wrong	ADJ
ftr-493	721	70	"	"	PUNCT
ftr-493	721	71	certificate	certificate	NOUN
ftr-493	721	72	holders	holder	NOUN
ftr-493	721	73	)	)	PUNCT
ftr-493	721	74	unless	unless	SCONJ
ftr-493	721	75	fixed	fix	VERB
ftr-493	721	76	investment	investment	NOUN
ftr-493	721	77	trust	trust	NOUN
ftr-493	721	78	status	status	NOUN
ftr-493	721	79	is	be	AUX
ftr-493	721	80	limited	limit	VERB
ftr-493	721	81	to	to	ADP
ftr-493	721	82	relatively	relatively	ADV
ftr-493	721	83	simple	simple	ADJ
ftr-493	721	84	transactions	transaction	NOUN
ftr-493	721	85	.	.	PUNCT
ftr-493	722	1	see	see	VERB
ftr-493	722	2	preamble	preamble	NOUN
ftr-493	722	3	to	to	ADP
ftr-493	722	4	regs	reg	NOUN
ftr-493	722	5	.	.	PUNCT
ftr-493	723	1	§	§	PROPN
ftr-493	723	2	301.7701	301.7701	NUM
ftr-493	723	3	-	-	SYM
ftr-493	723	4	4	4	NUM
ftr-493	723	5	.	.	PUNCT
ftr-493	723	6	t.d	t.d	PROPN
ftr-493	723	7	.	.	PROPN
ftr-493	723	8	8080	8080	NUM
ftr-493	723	9	,	,	PUNCT
ftr-493	723	10	1986	1986	NUM
ftr-493	723	11	-	-	SYM
ftr-493	723	12	1	1	NUM
ftr-493	723	13	c.b	c.b	PROPN
ftr-493	723	14	.	.	PROPN
ftr-493	723	15	371	371	NUM
ftr-493	723	16	.	.	X
ftr-493	723	17	99	99	NUM
ftr-493	723	18	.	.	PUNCT
ftr-493	724	1	tax	tax	NOUN
ftr-493	724	2	lawyers	lawyer	NOUN
ftr-493	724	3	generally	generally	ADV
ftr-493	724	4	view	view	VERB
ftr-493	724	5	this	this	DET
ftr-493	724	6	restriction	restriction	NOUN
ftr-493	724	7	as	as	ADP
ftr-493	724	8	a	a	DET
ftr-493	724	9	prohibition	prohibition	NOUN
ftr-493	724	10	on	on	ADP
ftr-493	724	11	the	the	DET
ftr-493	724	12	reinvestment	reinvestment	NOUN
ftr-493	724	13	of	of	ADP
ftr-493	724	14	cash	cash	NOUN
ftr-493	724	15	flows	flow	NOUN
ftr-493	724	16	from	from	ADP
ftr-493	724	17	the	the	DET
ftr-493	724	18	underlying	underlie	VERB
ftr-493	724	19	trust	trust	NOUN
ftr-493	724	20	assets	asset	NOUN
ftr-493	724	21	.	.	PUNCT
ftr-493	725	1	nevertheless	nevertheless	ADV
ftr-493	725	2	,	,	PUNCT
ftr-493	725	3	certain	certain	ADJ
ftr-493	725	4	incidental	incidental	ADJ
ftr-493	725	5	reinvestment	reinvestment	NOUN
ftr-493	725	6	activity	activity	NOUN
ftr-493	725	7	is	be	AUX
ftr-493	725	8	allowed	allow	VERB
ftr-493	725	9	.	.	PUNCT
ftr-493	726	1	see	see	VERB
ftr-493	726	2	,	,	PUNCT
ftr-493	726	3	e.g.	e.g.	ADV
ftr-493	726	4	,	,	PUNCT
ftr-493	726	5	rev	rev	PROPN
ftr-493	726	6	.	.	PROPN
ftr-493	726	7	rul	rul	PROPN
ftr-493	726	8	.	.	PUNCT
ftr-493	727	1	75	75	NUM
ftr-493	727	2	-	-	SYM
ftr-493	727	3	192	192	NUM
ftr-493	727	4	,	,	PUNCT
ftr-493	727	5	1975	1975	NUM
ftr-493	727	6	-	-	SYM
ftr-493	727	7	1	1	NUM
ftr-493	727	8	c.b	c.b	PROPN
ftr-493	727	9	.	.	PROPN
ftr-493	727	10	384	384	NUM
ftr-493	727	11	(	(	PUNCT
ftr-493	727	12	allowing	allow	VERB
ftr-493	727	13	short	short	ADJ
ftr-493	727	14	term	term	NOUN
ftr-493	727	15	reinvestment	reinvestment	NOUN
ftr-493	727	16	of	of	ADP
ftr-493	727	17	cash	cash	NOUN
ftr-493	727	18	flows	flow	NOUN
ftr-493	727	19	from	from	ADP
ftr-493	727	20	trust	trust	NOUN
ftr-493	727	21	assets	asset	NOUN
ftr-493	727	22	pending	pende	VERB
ftr-493	727	23	distribution	distribution	NOUN
ftr-493	727	24	of	of	ADP
ftr-493	727	25	the	the	DET
ftr-493	727	26	same	same	ADJ
ftr-493	727	27	to	to	PART
ftr-493	727	28	certificate	certificate	VERB
ftr-493	727	29	holders	holder	NOUN
ftr-493	727	30	on	on	ADP
ftr-493	727	31	next	next	ADJ
ftr-493	727	32	regularly	regularly	ADV
ftr-493	727	33	scheduled	schedule	VERB
ftr-493	727	34	distribution	distribution	NOUN
ftr-493	727	35	date	date	NOUN
ftr-493	727	36	)	)	PUNCT
ftr-493	727	37	.	.	PUNCT
ftr-493	728	1	100	100	NUM
ftr-493	728	2	.	.	PUNCT
ftr-493	729	1	the	the	DET
ftr-493	729	2	example	example	NOUN
ftr-493	729	3	reaches	reach	VERB
ftr-493	729	4	the	the	DET
ftr-493	729	5	conclusion	conclusion	NOUN
ftr-493	729	6	that	that	SCONJ
ftr-493	729	7	the	the	DET
ftr-493	729	8	"	"	PUNCT
ftr-493	729	9	incidental	incidental	NOUN
ftr-493	729	10	to	to	ADP
ftr-493	729	11	the	the	DET
ftr-493	729	12	direct	direct	ADJ
ftr-493	729	13	investment	investment	NOUN
ftr-493	729	14	purpose	purpose	NOUN
ftr-493	729	15	"	"	PUNCT
ftr-493	729	16	exception	exception	NOUN
ftr-493	729	17	applies	apply	VERB
ftr-493	729	18	by	by	ADP
ftr-493	729	19	analogizing	analogize	VERB
ftr-493	729	20	the	the	DET
ftr-493	729	21	transaction	transaction	NOUN
ftr-493	729	22	to	to	ADP
ftr-493	729	23	one	one	NUM
ftr-493	729	24	in	in	ADP
ftr-493	729	25	which	which	PRON
ftr-493	729	26	the	the	DET
ftr-493	729	27	19931	19931	NUM
ftr-493	729	28	florida	florida	PROPN
ftr-493	729	29	tax	tax	NOUN
ftr-493	729	30	review	review	NOUN
ftr-493	729	31	the	the	DET
ftr-493	729	32	exception	exception	NOUN
ftr-493	729	33	to	to	ADP
ftr-493	729	34	a	a	DET
ftr-493	729	35	case	case	NOUN
ftr-493	729	36	where	where	SCONJ
ftr-493	729	37	the	the	DET
ftr-493	729	38	trust	trust	NOUN
ftr-493	729	39	's	's	PART
ftr-493	729	40	assets	asset	NOUN
ftr-493	729	41	consist	consist	VERB
ftr-493	729	42	of	of	ADP
ftr-493	729	43	a	a	DET
ftr-493	729	44	portfolio	portfolio	NOUN
ftr-493	729	45	of	of	ADP
ftr-493	729	46	bonds	bond	NOUN
ftr-493	729	47	,	,	PUNCT
ftr-493	729	48	and	and	CCONJ
ftr-493	729	49	the	the	DET
ftr-493	729	50	trust	trust	NOUN
ftr-493	729	51	issues	issue	VERB
ftr-493	729	52	multiple	multiple	ADJ
ftr-493	729	53	classes	class	NOUN
ftr-493	729	54	of	of	ADP
ftr-493	729	55	certificates	certificate	NOUN
ftr-493	729	56	to	to	ADP
ftr-493	729	57	the	the	DET
ftr-493	729	58	public	public	NOUN
ftr-493	729	59	each	each	PRON
ftr-493	729	60	of	of	ADP
ftr-493	729	61	which	which	PRON
ftr-493	729	62	"	"	PUNCT
ftr-493	729	63	represents	represent	VERB
ftr-493	729	64	the	the	DET
ftr-493	729	65	right	right	NOUN
ftr-493	729	66	to	to	PART
ftr-493	729	67	receive	receive	VERB
ftr-493	729	68	a	a	DET
ftr-493	729	69	particular	particular	ADJ
ftr-493	729	70	payment	payment	NOUN
ftr-493	729	71	with	with	ADP
ftr-493	729	72	respect	respect	NOUN
ftr-493	729	73	to	to	ADP
ftr-493	729	74	a	a	DET
ftr-493	729	75	specific	specific	ADJ
ftr-493	729	76	bond	bond	NOUN
ftr-493	729	77	.	.	PUNCT
ftr-493	729	78	"	"	PUNCT
ftr-493	730	1	here	here	ADV
ftr-493	730	2	,	,	PUNCT
ftr-493	730	3	the	the	DET
ftr-493	730	4	example	example	NOUN
ftr-493	730	5	concludes	conclude	VERB
ftr-493	730	6	that	that	SCONJ
ftr-493	730	7	since	since	SCONJ
ftr-493	730	8	section	section	NOUN
ftr-493	730	9	1286	1286	NUM
ftr-493	730	10	treats	treat	NOUN
ftr-493	730	11	a	a	DET
ftr-493	730	12	stripped	strip	VERB
ftr-493	730	13	coupon	coupon	NOUN
ftr-493	730	14	or	or	CCONJ
ftr-493	730	15	bond	bond	NOUN
ftr-493	730	16	as	as	ADP
ftr-493	730	17	a	a	DET
ftr-493	730	18	separate	separate	ADJ
ftr-493	730	19	,	,	PUNCT
ftr-493	730	20	newly	newly	ADV
ftr-493	730	21	-	-	PUNCT
ftr-493	730	22	issued	issue	VERB
ftr-493	730	23	debt	debt	NOUN
ftr-493	730	24	obligation	obligation	NOUN
ftr-493	730	25	for	for	ADP
ftr-493	730	26	federal	federal	ADJ
ftr-493	730	27	income	income	NOUN
ftr-493	730	28	tax	tax	NOUN
ftr-493	730	29	purposes	purpose	NOUN
ftr-493	730	30	and	and	CCONJ
ftr-493	730	31	"	"	PUNCT
ftr-493	730	32	the	the	DET
ftr-493	730	33	multiple	multiple	ADJ
ftr-493	730	34	classes	class	NOUN
ftr-493	730	35	simply	simply	ADV
ftr-493	730	36	provide	provide	VERB
ftr-493	730	37	each	each	DET
ftr-493	730	38	certificate	certificate	NOUN
ftr-493	730	39	holder	holder	NOUN
ftr-493	730	40	with	with	ADP
ftr-493	730	41	a	a	DET
ftr-493	730	42	direct	direct	ADJ
ftr-493	730	43	interest	interest	NOUN
ftr-493	730	44	in	in	ADP
ftr-493	730	45	what	what	PRON
ftr-493	730	46	is	be	AUX
ftr-493	730	47	treated	treat	VERB
ftr-493	730	48	under	under	ADP
ftr-493	730	49	section	section	NOUN
ftr-493	730	50	1286	1286	NUM
ftr-493	730	51	as	as	ADP
ftr-493	730	52	a	a	DET
ftr-493	730	53	separate	separate	ADJ
ftr-493	730	54	bond	bond	NOUN
ftr-493	730	55	,	,	PUNCT
ftr-493	730	56	"	"	PUNCT
ftr-493	730	57	and	and	CCONJ
ftr-493	730	58	"	"	PUNCT
ftr-493	730	59	[	[	X
ftr-493	730	60	g]iven	g]iven	VERB
ftr-493	730	61	the	the	DET
ftr-493	730	62	similarity	similarity	NOUN
ftr-493	730	63	of	of	ADP
ftr-493	730	64	the	the	DET
ftr-493	730	65	interests	interest	NOUN
ftr-493	730	66	acquired	acquire	VERB
ftr-493	730	67	by	by	ADP
ftr-493	730	68	the	the	DET
ftr-493	730	69	certificate	certificate	NOUN
ftr-493	730	70	holders	holder	NOUN
ftr-493	730	71	to	to	ADP
ftr-493	730	72	the	the	DET
ftr-493	730	73	interests	interest	NOUN
ftr-493	730	74	that	that	PRON
ftr-493	730	75	could	could	AUX
ftr-493	730	76	be	be	AUX
ftr-493	730	77	acquired	acquire	VERB
ftr-493	730	78	by	by	ADP
ftr-493	730	79	direct	direct	ADJ
ftr-493	730	80	investment	investment	NOUN
ftr-493	730	81	,	,	PUNCT
ftr-493	730	82	the	the	DET
ftr-493	730	83	multiple	multiple	ADJ
ftr-493	730	84	classes	class	NOUN
ftr-493	730	85	of	of	ADP
ftr-493	730	86	trust	trust	NOUN
ftr-493	730	87	interests	interest	NOUN
ftr-493	730	88	merely	merely	ADV
ftr-493	730	89	facilitate	facilitate	VERB
ftr-493	730	90	direct	direct	ADJ
ftr-493	730	91	investment	investment	NOUN
ftr-493	730	92	in	in	ADP
ftr-493	730	93	the	the	DET
ftr-493	730	94	assets	asset	NOUN
ftr-493	730	95	held	hold	VERB
ftr-493	730	96	by	by	ADP
ftr-493	730	97	the	the	DET
ftr-493	730	98	trust	trust	NOUN
ftr-493	730	99	.	.	PUNCT
ftr-493	730	100	"	"	PUNCT
ftr-493	731	1	the	the	DET
ftr-493	731	2	trust	trust	NOUN
ftr-493	731	3	in	in	ADP
ftr-493	731	4	the	the	DET
ftr-493	731	5	merrill	merrill	PROPN
ftr-493	731	6	lynch	lynch	PROPN
ftr-493	731	7	transaction	transaction	PROPN
ftr-493	731	8	has	have	VERB
ftr-493	731	9	multiple	multiple	ADJ
ftr-493	731	10	classes	class	NOUN
ftr-493	731	11	of	of	ADP
ftr-493	731	12	certificates	certificate	NOUN
ftr-493	731	13	(	(	PUNCT
ftr-493	731	14	i.e.	i.e.	X
ftr-493	731	15	,	,	PUNCT
ftr-493	731	16	the	the	DET
ftr-493	731	17	preferred	preferred	ADJ
ftr-493	731	18	certificates	certificate	NOUN
ftr-493	731	19	and	and	CCONJ
ftr-493	731	20	the	the	DET
ftr-493	731	21	common	common	ADJ
ftr-493	731	22	certificates	certificate	NOUN
ftr-493	731	23	)	)	PUNCT
ftr-493	731	24	.	.	PUNCT
ftr-493	732	1	like	like	ADP
ftr-493	732	2	the	the	DET
ftr-493	732	3	trust	trust	NOUN
ftr-493	732	4	interests	interest	NOUN
ftr-493	732	5	at	at	ADP
ftr-493	732	6	issue	issue	NOUN
ftr-493	732	7	in	in	ADP
ftr-493	732	8	example	example	NOUN
ftr-493	732	9	2	2	NUM
ftr-493	732	10	of	of	ADP
ftr-493	732	11	the	the	DET
ftr-493	732	12	trust	trust	NOUN
ftr-493	732	13	classification	classification	NOUN
ftr-493	732	14	regulations	regulation	NOUN
ftr-493	732	15	,	,	PUNCT
ftr-493	732	16	the	the	DET
ftr-493	732	17	common	common	ADJ
ftr-493	732	18	certificates	certificate	NOUN
ftr-493	732	19	are	be	AUX
ftr-493	732	20	subordinated	subordinate	VERB
ftr-493	732	21	to	to	ADP
ftr-493	732	22	the	the	DET
ftr-493	732	23	preferred	prefer	VERB
ftr-493	732	24	certificates	certificate	NOUN
ftr-493	732	25	.	.	PUNCT
ftr-493	733	1	because	because	SCONJ
ftr-493	733	2	the	the	DET
ftr-493	733	3	bond	bond	NOUN
ftr-493	733	4	stripping	strip	VERB
ftr-493	733	5	rules	rule	NOUN
ftr-493	733	6	of	of	ADP
ftr-493	733	7	section	section	NOUN
ftr-493	733	8	1286	1286	NUM
ftr-493	733	9	apply	apply	VERB
ftr-493	733	10	only	only	ADV
ftr-493	733	11	to	to	ADP
ftr-493	733	12	debt	debt	NOUN
ftr-493	733	13	obligations	obligation	NOUN
ftr-493	733	14	,	,	PUNCT
ftr-493	733	15	however	however	ADV
ftr-493	733	16	,	,	PUNCT
ftr-493	733	17	the	the	DET
ftr-493	733	18	rationale	rationale	NOUN
ftr-493	733	19	of	of	ADP
ftr-493	733	20	example	example	NOUN
ftr-493	733	21	4	4	NUM
ftr-493	733	22	of	of	ADP
ftr-493	733	23	those	those	DET
ftr-493	733	24	regulations	regulation	NOUN
ftr-493	733	25	does	do	AUX
ftr-493	733	26	not	not	PART
ftr-493	733	27	apply	apply	VERB
ftr-493	733	28	to	to	ADP
ftr-493	733	29	the	the	DET
ftr-493	733	30	trust	trust	NOUN
ftr-493	733	31	.	.	PUNCT
ftr-493	734	1	rather	rather	ADV
ftr-493	734	2	,	,	PUNCT
ftr-493	734	3	the	the	DET
ftr-493	734	4	interests	interest	NOUN
ftr-493	734	5	held	hold	VERB
ftr-493	734	6	by	by	ADP
ftr-493	734	7	each	each	DET
ftr-493	734	8	class	class	NOUN
ftr-493	734	9	of	of	ADP
ftr-493	734	10	certificate	certificate	NOUN
ftr-493	734	11	holder	holder	NOUN
ftr-493	734	12	do	do	AUX
ftr-493	734	13	,	,	PUNCT
ftr-493	734	14	indeed	indeed	ADV
ftr-493	734	15	,	,	PUNCT
ftr-493	734	16	seem	seem	VERB
ftr-493	734	17	to	to	PART
ftr-493	734	18	differ	differ	VERB
ftr-493	734	19	from	from	ADP
ftr-493	734	20	a	a	DET
ftr-493	734	21	direct	direct	ADJ
ftr-493	734	22	investment	investment	NOUN
ftr-493	734	23	in	in	ADP
ftr-493	734	24	the	the	DET
ftr-493	734	25	underlying	underlie	VERB
ftr-493	734	26	stocks	stock	NOUN
ftr-493	734	27	,	,	PUNCT
ftr-493	734	28	and	and	CCONJ
ftr-493	734	29	as	as	SCONJ
ftr-493	734	30	discussed	discuss	VERB
ftr-493	734	31	above	above	ADV
ftr-493	734	32	,	,	PUNCT
ftr-493	734	33	are	be	AUX
ftr-493	734	34	intended	intend	VERB
ftr-493	734	35	to	to	PART
ftr-493	734	36	so	so	ADV
ftr-493	734	37	differ	differ	VERB
ftr-493	734	38	.	.	PUNCT
ftr-493	735	1	in	in	ADP
ftr-493	735	2	fact	fact	NOUN
ftr-493	735	3	,	,	PUNCT
ftr-493	735	4	the	the	DET
ftr-493	735	5	trust	trust	NOUN
ftr-493	735	6	seems	seem	VERB
ftr-493	735	7	much	much	ADV
ftr-493	735	8	closer	close	ADJ
ftr-493	735	9	to	to	ADP
ftr-493	735	10	the	the	DET
ftr-493	735	11	transaction	transaction	NOUN
ftr-493	735	12	described	describe	VERB
ftr-493	735	13	in	in	ADP
ftr-493	735	14	example	example	NOUN
ftr-493	735	15	3	3	NUM
ftr-493	735	16	of	of	ADP
ftr-493	735	17	the	the	DET
ftr-493	735	18	trust	trust	NOUN
ftr-493	735	19	classification	classification	NOUN
ftr-493	735	20	regulations	regulation	NOUN
ftr-493	735	21	.	.	PUNCT
ftr-493	736	1	example	example	NOUN
ftr-493	736	2	3	3	NUM
ftr-493	736	3	involves	involve	VERB
ftr-493	736	4	a	a	DET
ftr-493	736	5	trust	trust	NOUN
ftr-493	736	6	holding	hold	VERB
ftr-493	736	7	publicly	publicly	ADV
ftr-493	736	8	-	-	PUNCT
ftr-493	736	9	traded	trade	VERB
ftr-493	736	10	stock	stock	NOUN
ftr-493	736	11	.	.	PUNCT
ftr-493	737	1	there	there	PRON
ftr-493	737	2	are	be	VERB
ftr-493	737	3	two	two	NUM
ftr-493	737	4	classes	class	NOUN
ftr-493	737	5	of	of	ADP
ftr-493	737	6	trust	trust	NOUN
ftr-493	737	7	certificates	certificate	NOUN
ftr-493	737	8	,	,	PUNCT
ftr-493	737	9	one	one	NUM
ftr-493	737	10	of	of	ADP
ftr-493	737	11	which	which	PRON
ftr-493	737	12	represents	represent	VERB
ftr-493	737	13	"	"	PUNCT
ftr-493	737	14	the	the	DET
ftr-493	737	15	right	right	NOUN
ftr-493	737	16	to	to	ADP
ftr-493	737	17	dividends	dividend	NOUN
ftr-493	737	18	and	and	CCONJ
ftr-493	737	19	the	the	DET
ftr-493	737	20	value	value	NOUN
ftr-493	737	21	of	of	ADP
ftr-493	737	22	the	the	DET
ftr-493	737	23	underlying	underlie	VERB
ftr-493	737	24	stock	stock	NOUN
ftr-493	737	25	up	up	ADP
ftr-493	737	26	to	to	ADP
ftr-493	737	27	a	a	DET
ftr-493	737	28	specified	specify	VERB
ftr-493	737	29	amount	amount	NOUN
ftr-493	737	30	;	;	PUNCT
ftr-493	737	31	the	the	DET
ftr-493	737	32	other	other	ADJ
ftr-493	737	33	certificate	certificate	NOUN
ftr-493	737	34	represents	represent	VERB
ftr-493	737	35	the	the	DET
ftr-493	737	36	right	right	NOUN
ftr-493	737	37	to	to	ADP
ftr-493	737	38	appreciation	appreciation	NOUN
ftr-493	737	39	in	in	ADP
ftr-493	737	40	the	the	DET
ftr-493	737	41	stock	stock	NOUN
ftr-493	737	42	's	's	PART
ftr-493	737	43	value	value	NOUN
ftr-493	737	44	above	above	ADP
ftr-493	737	45	the	the	DET
ftr-493	737	46	specified	specify	VERB
ftr-493	737	47	amount	amount	NOUN
ftr-493	737	48	.	.	PUNCT
ftr-493	737	49	"	"	PUNCT
ftr-493	737	50	''	''	PUNCT
ftr-493	737	51	on	on	ADP
ftr-493	737	52	these	these	DET
ftr-493	737	53	facts	fact	NOUN
ftr-493	737	54	,	,	PUNCT
ftr-493	737	55	the	the	DET
ftr-493	737	56	example	example	NOUN
ftr-493	737	57	concludes	conclude	VERB
ftr-493	737	58	that	that	SCONJ
ftr-493	737	59	,	,	PUNCT
ftr-493	737	60	since	since	SCONJ
ftr-493	737	61	the	the	DET
ftr-493	737	62	two	two	NUM
ftr-493	737	63	classes	class	NOUN
ftr-493	737	64	of	of	ADP
ftr-493	737	65	certificates	certificate	NOUN
ftr-493	737	66	enable	enable	VERB
ftr-493	737	67	senior	senior	ADJ
ftr-493	737	68	and	and	CCONJ
ftr-493	737	69	junior	junior	ADJ
ftr-493	737	70	certificate	certificate	NOUN
ftr-493	737	71	holders	holder	NOUN
ftr-493	737	72	each	each	PRON
ftr-493	737	73	purchased	purchase	VERB
ftr-493	737	74	a	a	DET
ftr-493	737	75	pari	pari	ADJ
ftr-493	737	76	passu	passu	NOUN
ftr-493	737	77	,	,	PUNCT
ftr-493	737	78	undivided	undivided	ADJ
ftr-493	737	79	interest	interest	NOUN
ftr-493	737	80	in	in	ADP
ftr-493	737	81	the	the	DET
ftr-493	737	82	mortgages	mortgage	NOUN
ftr-493	737	83	,	,	PUNCT
ftr-493	737	84	and	and	CCONJ
ftr-493	737	85	the	the	DET
ftr-493	737	86	junior	junior	ADJ
ftr-493	737	87	certificate	certificate	NOUN
ftr-493	737	88	holders	holder	NOUN
ftr-493	737	89	then	then	ADV
ftr-493	737	90	issued	issue	VERB
ftr-493	737	91	a	a	DET
ftr-493	737	92	limited	limited	ADJ
ftr-493	737	93	recourse	recourse	NOUN
ftr-493	737	94	guaranty	guaranty	NOUN
ftr-493	737	95	to	to	ADP
ftr-493	737	96	the	the	DET
ftr-493	737	97	senior	senior	ADJ
ftr-493	737	98	certificate	certificate	NOUN
ftr-493	737	99	holders	holder	NOUN
ftr-493	737	100	secured	secure	VERB
ftr-493	737	101	solely	solely	ADV
ftr-493	737	102	by	by	ADP
ftr-493	737	103	the	the	DET
ftr-493	737	104	junior	junior	ADJ
ftr-493	737	105	certificate	certificate	NOUN
ftr-493	737	106	holders	holder	NOUN
ftr-493	737	107	'	'	PART
ftr-493	737	108	interest	interest	NOUN
ftr-493	737	109	in	in	ADP
ftr-493	737	110	,	,	PUNCT
ftr-493	737	111	and	and	CCONJ
ftr-493	737	112	right	right	ADJ
ftr-493	737	113	to	to	PART
ftr-493	737	114	receive	receive	VERB
ftr-493	737	115	distributions	distribution	NOUN
ftr-493	737	116	with	with	ADP
ftr-493	737	117	respect	respect	NOUN
ftr-493	737	118	to	to	ADP
ftr-493	737	119	,	,	PUNCT
ftr-493	737	120	the	the	DET
ftr-493	737	121	mortgage	mortgage	NOUN
ftr-493	737	122	pool	pool	NOUN
ftr-493	737	123	.	.	PUNCT
ftr-493	738	1	see	see	AUX
ftr-493	738	2	also	also	ADV
ftr-493	738	3	rev	rev	VERB
ftr-493	738	4	.	.	PUNCT
ftr-493	739	1	rul	rul	NOUN
ftr-493	739	2	.	.	PUNCT
ftr-493	740	1	92	92	NUM
ftr-493	740	2	-	-	SYM
ftr-493	740	3	32	32	NUM
ftr-493	740	4	,	,	PUNCT
ftr-493	740	5	1992	1992	NUM
ftr-493	740	6	-	-	SYM
ftr-493	740	7	1	1	NUM
ftr-493	740	8	c.b	c.b	PROPN
ftr-493	740	9	.	.	PROPN
ftr-493	740	10	434	434	NUM
ftr-493	740	11	(	(	PUNCT
ftr-493	740	12	sponsor	sponsor	NOUN
ftr-493	740	13	creating	create	VERB
ftr-493	740	14	an	an	DET
ftr-493	740	15	investment	investment	NOUN
ftr-493	740	16	trust	trust	NOUN
ftr-493	740	17	by	by	ADP
ftr-493	740	18	transferring	transfer	VERB
ftr-493	740	19	a	a	DET
ftr-493	740	20	pool	pool	NOUN
ftr-493	740	21	of	of	ADP
ftr-493	740	22	debt	debt	NOUN
ftr-493	740	23	securities	security	NOUN
ftr-493	740	24	to	to	ADP
ftr-493	740	25	a	a	DET
ftr-493	740	26	trustee	trustee	NOUN
ftr-493	740	27	in	in	ADP
ftr-493	740	28	exchange	exchange	NOUN
ftr-493	740	29	for	for	ADP
ftr-493	740	30	senior	senior	ADJ
ftr-493	740	31	and	and	CCONJ
ftr-493	740	32	subordinated	subordinated	ADJ
ftr-493	740	33	certificates	certificate	NOUN
ftr-493	740	34	,	,	PUNCT
ftr-493	740	35	both	both	PRON
ftr-493	740	36	of	of	ADP
ftr-493	740	37	which	which	PRON
ftr-493	740	38	were	be	AUX
ftr-493	740	39	sold	sell	VERB
ftr-493	740	40	to	to	ADP
ftr-493	740	41	investors	investor	NOUN
ftr-493	740	42	,	,	PUNCT
ftr-493	740	43	qualified	qualify	VERB
ftr-493	740	44	the	the	DET
ftr-493	740	45	investment	investment	NOUN
ftr-493	740	46	trust	trust	NOUN
ftr-493	740	47	as	as	ADP
ftr-493	740	48	a	a	DET
ftr-493	740	49	trust	trust	NOUN
ftr-493	740	50	for	for	ADP
ftr-493	740	51	income	income	NOUN
ftr-493	740	52	tax	tax	NOUN
ftr-493	740	53	purposes	purpose	NOUN
ftr-493	740	54	)	)	PUNCT
ftr-493	740	55	.	.	PUNCT
ftr-493	741	1	whether	whether	SCONJ
ftr-493	741	2	this	this	DET
ftr-493	741	3	analogy	analogy	NOUN
ftr-493	741	4	to	to	ADP
ftr-493	741	5	a	a	DET
ftr-493	741	6	limited	limited	ADJ
ftr-493	741	7	recourse	recourse	NOUN
ftr-493	741	8	guaranty	guaranty	NOUN
ftr-493	741	9	running	run	VERB
ftr-493	741	10	from	from	ADP
ftr-493	741	11	the	the	DET
ftr-493	741	12	junior	junior	ADJ
ftr-493	741	13	certificate	certificate	NOUN
ftr-493	741	14	holders	holder	NOUN
ftr-493	741	15	to	to	ADP
ftr-493	741	16	the	the	DET
ftr-493	741	17	senior	senior	ADJ
ftr-493	741	18	certificate	certificate	NOUN
ftr-493	741	19	holders	holder	NOUN
ftr-493	741	20	should	should	AUX
ftr-493	741	21	apply	apply	VERB
ftr-493	741	22	more	more	ADV
ftr-493	741	23	generally	generally	ADV
ftr-493	741	24	for	for	ADP
ftr-493	741	25	purposes	purpose	NOUN
ftr-493	741	26	of	of	ADP
ftr-493	741	27	determining	determine	VERB
ftr-493	741	28	the	the	DET
ftr-493	741	29	taxation	taxation	NOUN
ftr-493	741	30	of	of	ADP
ftr-493	741	31	senior	senior	ADJ
ftr-493	741	32	and	and	CCONJ
ftr-493	741	33	junior	junior	ADJ
ftr-493	741	34	certificate	certificate	NOUN
ftr-493	741	35	holders	holder	NOUN
ftr-493	741	36	in	in	ADP
ftr-493	741	37	senior	senior	ADJ
ftr-493	741	38	/	/	SYM
ftr-493	741	39	subordinated	subordinated	ADJ
ftr-493	741	40	grantor	grantor	NOUN
ftr-493	741	41	trust	trust	NOUN
ftr-493	741	42	transactions	transaction	NOUN
ftr-493	741	43	has	have	AUX
ftr-493	741	44	recently	recently	ADV
ftr-493	741	45	become	become	VERB
ftr-493	741	46	a	a	DET
ftr-493	741	47	topic	topic	NOUN
ftr-493	741	48	of	of	ADP
ftr-493	741	49	some	some	DET
ftr-493	741	50	interest	interest	NOUN
ftr-493	741	51	.	.	PUNCT
ftr-493	742	1	see	see	VERB
ftr-493	742	2	irs	irs	PROPN
ftr-493	742	3	branch	branch	NOUN
ftr-493	742	4	chief	chief	NOUN
ftr-493	742	5	thomas	thomas	PROPN
ftr-493	742	6	j.	j.	PROPN
ftr-493	742	7	lyden	lyden	PROPN
ftr-493	742	8	,	,	PUNCT
ftr-493	742	9	remarks	remark	NOUN
ftr-493	742	10	to	to	ADP
ftr-493	742	11	financial	financial	ADJ
ftr-493	742	12	transactions	transaction	NOUN
ftr-493	742	13	committee	committee	NOUN
ftr-493	742	14	of	of	ADP
ftr-493	742	15	the	the	DET
ftr-493	742	16	a.b.a	a.b.a	NOUN
ftr-493	742	17	.	.	PUNCT
ftr-493	742	18	tax	tax	NOUN
ftr-493	742	19	section	section	NOUN
ftr-493	742	20	(	(	PUNCT
ftr-493	742	21	aug	aug	PROPN
ftr-493	742	22	.	.	PROPN
ftr-493	742	23	7	7	NUM
ftr-493	742	24	,	,	PUNCT
ftr-493	742	25	1992	1992	NUM
ftr-493	742	26	)	)	PUNCT
ftr-493	742	27	;	;	PUNCT
ftr-493	742	28	prospectus	prospectus	NOUN
ftr-493	742	29	for	for	ADP
ftr-493	742	30	nissan	nissan	PROPN
ftr-493	742	31	auto	auto	NOUN
ftr-493	742	32	receivables	receivables	NOUN
ftr-493	742	33	1992	1992	NUM
ftr-493	742	34	-	-	PUNCT
ftr-493	742	35	b	b	PROPN
ftr-493	742	36	grantor	grantor	NOUN
ftr-493	742	37	trust	trust	NOUN
ftr-493	742	38	(	(	PUNCT
ftr-493	742	39	dated	date	VERB
ftr-493	742	40	oct	oct	PROPN
ftr-493	742	41	.	.	PROPN
ftr-493	742	42	1	1	NUM
ftr-493	742	43	,	,	PUNCT
ftr-493	742	44	1992	1992	NUM
ftr-493	742	45	)	)	PUNCT
ftr-493	742	46	.	.	PUNCT
ftr-493	743	1	101	101	NUM
ftr-493	743	2	.	.	PUNCT
ftr-493	744	1	as	as	SCONJ
ftr-493	744	2	noted	note	VERB
ftr-493	744	3	supra	supra	PROPN
ftr-493	744	4	note	note	PROPN
ftr-493	744	5	92	92	NUM
ftr-493	744	6	,	,	PUNCT
ftr-493	744	7	this	this	DET
ftr-493	744	8	example	example	NOUN
ftr-493	744	9	seems	seem	VERB
ftr-493	744	10	to	to	PART
ftr-493	744	11	be	be	AUX
ftr-493	744	12	based	base	VERB
ftr-493	744	13	on	on	ADP
ftr-493	744	14	the	the	DET
ftr-493	744	15	americus	americus	PROPN
ftr-493	744	16	trust	trust	PROPN
ftr-493	744	17	prime	prime	NOUN
ftr-493	744	18	and	and	CCONJ
ftr-493	744	19	score	score	NOUN
ftr-493	744	20	transactions	transaction	NOUN
ftr-493	744	21	.	.	PUNCT
ftr-493	745	1	[	[	X
ftr-493	745	2	vol	vol	NOUN
ftr-493	745	3	1:5	1:5	NUM
ftr-493	745	4	selected	select	VERB
ftr-493	745	5	issues	issue	NOUN
ftr-493	745	6	in	in	ADP
ftr-493	745	7	the	the	DET
ftr-493	745	8	taxtion	taxtion	NOUN
ftr-493	745	9	of	of	ADP
ftr-493	745	10	swaps	swap	NOUN
ftr-493	745	11	investors	investor	NOUN
ftr-493	745	12	"	"	PUNCT
ftr-493	745	13	to	to	PART
ftr-493	745	14	fulfill	fulfill	VERB
ftr-493	745	15	their	their	PRON
ftr-493	745	16	varying	vary	VERB
ftr-493	745	17	investment	investment	NOUN
ftr-493	745	18	objectives	objective	NOUN
ftr-493	745	19	of	of	ADP
ftr-493	745	20	seeking	seek	VERB
ftr-493	745	21	primarily	primarily	ADV
ftr-493	745	22	either	either	CCONJ
ftr-493	745	23	dividend	dividend	NOUN
ftr-493	745	24	income	income	NOUN
ftr-493	745	25	or	or	CCONJ
ftr-493	745	26	capital	capital	NOUN
ftr-493	745	27	appreciation	appreciation	NOUN
ftr-493	745	28	from	from	ADP
ftr-493	745	29	the	the	DET
ftr-493	745	30	stock	stock	NOUN
ftr-493	745	31	held	hold	VERB
ftr-493	745	32	by	by	ADP
ftr-493	745	33	the	the	DET
ftr-493	745	34	trust	trust	NOUN
ftr-493	745	35	"	"	PUNCT
ftr-493	745	36	by	by	ADP
ftr-493	745	37	owning	own	VERB
ftr-493	745	38	certificates	certificate	NOUN
ftr-493	745	39	of	of	ADP
ftr-493	745	40	one	one	NUM
ftr-493	745	41	class	class	NOUN
ftr-493	745	42	rather	rather	ADV
ftr-493	745	43	than	than	ADP
ftr-493	745	44	the	the	DET
ftr-493	745	45	other	other	ADJ
ftr-493	745	46	,	,	PUNCT
ftr-493	745	47	"	"	PUNCT
ftr-493	745	48	the	the	DET
ftr-493	745	49	trust	trust	NOUN
ftr-493	745	50	is	be	AUX
ftr-493	745	51	not	not	PART
ftr-493	745	52	formed	form	VERB
ftr-493	745	53	to	to	PART
ftr-493	745	54	facilitate	facilitate	VERB
ftr-493	745	55	direct	direct	ADJ
ftr-493	745	56	investment	investment	NOUN
ftr-493	745	57	in	in	ADP
ftr-493	745	58	the	the	DET
ftr-493	745	59	assets	asset	NOUN
ftr-493	745	60	of	of	ADP
ftr-493	745	61	the	the	DET
ftr-493	745	62	trust	trust	NOUN
ftr-493	745	63	"	"	PUNCT
ftr-493	745	64	and	and	CCONJ
ftr-493	745	65	will	will	AUX
ftr-493	745	66	accordingly	accordingly	ADV
ftr-493	745	67	not	not	PART
ftr-493	745	68	be	be	AUX
ftr-493	745	69	classified	classify	VERB
ftr-493	745	70	as	as	ADP
ftr-493	745	71	a	a	DET
ftr-493	745	72	fixed	fix	VERB
ftr-493	745	73	investment	investment	NOUN
ftr-493	745	74	trust	trust	NOUN
ftr-493	745	75	.	.	PUNCT
ftr-493	746	1	the	the	DET
ftr-493	746	2	trust	trust	NOUN
ftr-493	746	3	in	in	ADP
ftr-493	746	4	the	the	DET
ftr-493	746	5	merrill	merrill	PROPN
ftr-493	746	6	lynch	lynch	PROPN
ftr-493	746	7	transaction	transaction	PROPN
ftr-493	746	8	is	be	AUX
ftr-493	746	9	not	not	PART
ftr-493	746	10	identical	identical	ADJ
ftr-493	746	11	to	to	ADP
ftr-493	746	12	that	that	PRON
ftr-493	746	13	at	at	ADP
ftr-493	746	14	issue	issue	NOUN
ftr-493	746	15	in	in	ADP
ftr-493	746	16	example	example	NOUN
ftr-493	746	17	3	3	NUM
ftr-493	746	18	:	:	PUNCT
ftr-493	746	19	for	for	ADP
ftr-493	746	20	example	example	NOUN
ftr-493	746	21	,	,	PUNCT
ftr-493	746	22	the	the	DET
ftr-493	746	23	common	common	ADJ
ftr-493	746	24	certificates	certificate	NOUN
ftr-493	746	25	share	share	VERB
ftr-493	746	26	in	in	ADP
ftr-493	746	27	the	the	DET
ftr-493	746	28	dividends	dividend	NOUN
ftr-493	746	29	on	on	ADP
ftr-493	746	30	the	the	DET
ftr-493	746	31	underlying	underlie	VERB
ftr-493	746	32	stock	stock	NOUN
ftr-493	746	33	,	,	PUNCT
ftr-493	746	34	and	and	CCONJ
ftr-493	746	35	the	the	DET
ftr-493	746	36	preferred	preferred	ADJ
ftr-493	746	37	certificates	certificate	NOUN
ftr-493	746	38	do	do	AUX
ftr-493	746	39	not	not	PART
ftr-493	746	40	participate	participate	VERB
ftr-493	746	41	in	in	ADP
ftr-493	746	42	the	the	DET
ftr-493	746	43	upside	upside	NOUN
ftr-493	746	44	on	on	ADP
ftr-493	746	45	the	the	DET
ftr-493	746	46	underlying	underlie	VERB
ftr-493	746	47	stock	stock	NOUN
ftr-493	746	48	.	.	PUNCT
ftr-493	747	1	nevertheless	nevertheless	ADV
ftr-493	747	2	,	,	PUNCT
ftr-493	747	3	the	the	DET
ftr-493	747	4	similarities	similarity	NOUN
ftr-493	747	5	far	far	ADV
ftr-493	747	6	outweigh	outweigh	VERB
ftr-493	747	7	the	the	DET
ftr-493	747	8	differences	difference	NOUN
ftr-493	747	9	.	.	PUNCT
ftr-493	748	1	thus	thus	ADV
ftr-493	748	2	,	,	PUNCT
ftr-493	748	3	it	it	PRON
ftr-493	748	4	is	be	AUX
ftr-493	748	5	highly	highly	ADV
ftr-493	748	6	likely	likely	ADJ
ftr-493	748	7	that	that	SCONJ
ftr-493	748	8	the	the	DET
ftr-493	748	9	service	service	NOUN
ftr-493	748	10	would	would	AUX
ftr-493	748	11	claim	claim	VERB
ftr-493	748	12	that	that	SCONJ
ftr-493	748	13	the	the	DET
ftr-493	748	14	trust	trust	NOUN
ftr-493	748	15	does	do	AUX
ftr-493	748	16	not	not	PART
ftr-493	748	17	qualify	qualify	VERB
ftr-493	748	18	as	as	ADP
ftr-493	748	19	a	a	DET
ftr-493	748	20	fixed	fix	VERB
ftr-493	748	21	investment	investment	NOUN
ftr-493	748	22	trust	trust	NOUN
ftr-493	748	23	taxable	taxable	ADJ
ftr-493	748	24	as	as	ADP
ftr-493	748	25	a	a	DET
ftr-493	748	26	grantor	grantor	NOUN
ftr-493	748	27	trust	trust	NOUN
ftr-493	748	28	.	.	PUNCT
ftr-493	749	1	given	give	VERB
ftr-493	749	2	this	this	DET
ftr-493	749	3	result	result	NOUN
ftr-493	749	4	,	,	PUNCT
ftr-493	749	5	it	it	PRON
ftr-493	749	6	is	be	AUX
ftr-493	749	7	logical	logical	ADJ
ftr-493	749	8	to	to	PART
ftr-493	749	9	suspect	suspect	VERB
ftr-493	749	10	that	that	SCONJ
ftr-493	749	11	tax	tax	NOUN
ftr-493	749	12	counsel	counsel	NOUN
ftr-493	749	13	for	for	ADP
ftr-493	749	14	the	the	DET
ftr-493	749	15	merrill	merrill	PROPN
ftr-493	749	16	lynch	lynch	PROPN
ftr-493	749	17	transaction	transaction	PROPN
ftr-493	749	18	attempted	attempt	VERB
ftr-493	749	19	to	to	PART
ftr-493	749	20	achieve	achieve	VERB
ftr-493	749	21	tax	tax	NOUN
ftr-493	749	22	transparency	transparency	NOUN
ftr-493	749	23	by	by	ADP
ftr-493	749	24	qualifying	qualify	VERB
ftr-493	749	25	the	the	DET
ftr-493	749	26	trust	trust	NOUN
ftr-493	749	27	as	as	ADP
ftr-493	749	28	a	a	DET
ftr-493	749	29	partnership	partnership	NOUN
ftr-493	749	30	for	for	ADP
ftr-493	749	31	tax	tax	NOUN
ftr-493	749	32	purposes	purpose	NOUN
ftr-493	749	33	.	.	PUNCT
ftr-493	750	1	"r	"r	NOUN
ftr-493	750	2	under	under	ADP
ftr-493	750	3	regulations	regulation	NOUN
ftr-493	750	4	section	section	NOUN
ftr-493	750	5	301.7701	301.7701	NUM
ftr-493	750	6	-	-	SYM
ftr-493	750	7	2	2	NUM
ftr-493	750	8	as	as	SCONJ
ftr-493	750	9	applied	apply	VERB
ftr-493	750	10	to	to	ADP
ftr-493	750	11	the	the	DET
ftr-493	750	12	facts	fact	NOUN
ftr-493	750	13	of	of	ADP
ftr-493	750	14	the	the	DET
ftr-493	750	15	merrill	merrill	PROPN
ftr-493	750	16	lynch	lynch	PROPN
ftr-493	750	17	transaction	transaction	PROPN
ftr-493	750	18	,	,	PUNCT
ftr-493	750	19	the	the	DET
ftr-493	750	20	trust	trust	NOUN
ftr-493	750	21	will	will	AUX
ftr-493	750	22	be	be	AUX
ftr-493	750	23	taxable	taxable	ADJ
ftr-493	750	24	as	as	ADP
ftr-493	750	25	a	a	DET
ftr-493	750	26	partnership	partnership	NOUN
ftr-493	750	27	0	0	NUM
ftr-493	750	28	3	3	NUM
ftr-493	750	29	if	if	SCONJ
ftr-493	750	30	at	at	ADV
ftr-493	750	31	least	least	ADV
ftr-493	750	32	two	two	NUM
ftr-493	750	33	of	of	ADP
ftr-493	750	34	the	the	DET
ftr-493	750	35	four	four	NUM
ftr-493	750	36	following	follow	VERB
ftr-493	750	37	conditions	condition	NOUN
ftr-493	750	38	are	be	AUX
ftr-493	750	39	satisfied	satisfied	ADJ
ftr-493	750	40	:	:	PUNCT
ftr-493	750	41	(	(	PUNCT
ftr-493	750	42	i	i	NOUN
ftr-493	750	43	)	)	PUNCT
ftr-493	750	44	there	there	PRON
ftr-493	750	45	is	be	VERB
ftr-493	750	46	at	at	ADV
ftr-493	750	47	least	least	ADJ
ftr-493	750	48	one	one	NUM
ftr-493	750	49	certificate	certificate	NOUN
ftr-493	750	50	holder	holder	NOUN
ftr-493	750	51	that	that	PRON
ftr-493	750	52	is	be	AUX
ftr-493	750	53	personally	personally	ADV
ftr-493	750	54	liable	liable	ADJ
ftr-493	750	55	for	for	ADP
ftr-493	750	56	the	the	DET
ftr-493	750	57	debts	debt	NOUN
ftr-493	750	58	of	of	ADP
ftr-493	750	59	,	,	PUNCT
ftr-493	750	60	and	and	CCONJ
ftr-493	750	61	claims	claim	VERB
ftr-493	750	62	against	against	ADP
ftr-493	750	63	,	,	PUNCT
ftr-493	750	64	the	the	DET
ftr-493	750	65	trust	trust	NOUN
ftr-493	750	66	,	,	PUNCT
ftr-493	750	67	t04	t04	NOUN
ftr-493	750	68	and	and	CCONJ
ftr-493	750	69	such	such	ADJ
ftr-493	750	70	certificate	certificate	NOUN
ftr-493	750	71	holder	holder	NOUN
ftr-493	750	72	either	either	CCONJ
ftr-493	750	73	has	have	VERB
ftr-493	750	74	substantial	substantial	ADJ
ftr-493	750	75	assets	asset	NOUN
ftr-493	750	76	(	(	PUNCT
ftr-493	750	77	other	other	ADJ
ftr-493	750	78	than	than	ADP
ftr-493	750	79	its	its	PRON
ftr-493	750	80	certificates	certificate	NOUN
ftr-493	750	81	)	)	PUNCT
ftr-493	750	82	or	or	CCONJ
ftr-493	750	83	is	be	AUX
ftr-493	750	84	not	not	PART
ftr-493	750	85	merely	merely	ADV
ftr-493	750	86	a	a	DET
ftr-493	750	87	"	"	PUNCT
ftr-493	750	88	dummy	dummy	ADJ
ftr-493	750	89	"	"	PUNCT
ftr-493	750	90	acting	act	VERB
ftr-493	750	91	as	as	ADP
ftr-493	750	92	an	an	DET
ftr-493	750	93	agent	agent	NOUN
ftr-493	750	94	for	for	ADP
ftr-493	750	95	the	the	DET
ftr-493	750	96	other	other	ADJ
ftr-493	750	97	certificate	certificate	NOUN
ftr-493	750	98	holders	holder	NOUN
ftr-493	750	99	,	,	PUNCT
ftr-493	750	100	(	(	PUNCT
ftr-493	750	101	ii	ii	NOUN
ftr-493	750	102	)	)	PUNCT
ftr-493	750	103	there	there	PRON
ftr-493	750	104	is	be	VERB
ftr-493	750	105	at	at	ADV
ftr-493	750	106	least	least	ADJ
ftr-493	750	107	one	one	NUM
ftr-493	750	108	certificate	certificate	NOUN
ftr-493	750	109	holder	holder	NOUN
ftr-493	750	110	whose	whose	DET
ftr-493	750	111	bankruptcy	bankruptcy	NOUN
ftr-493	750	112	will	will	AUX
ftr-493	750	113	cause	cause	VERB
ftr-493	750	114	the	the	DET
ftr-493	750	115	trust	trust	NOUN
ftr-493	750	116	assets	asset	NOUN
ftr-493	750	117	to	to	PART
ftr-493	750	118	be	be	AUX
ftr-493	750	119	sold	sell	VERB
ftr-493	750	120	and	and	CCONJ
ftr-493	750	121	the	the	DET
ftr-493	750	122	trust	trust	NOUN
ftr-493	750	123	to	to	PART
ftr-493	750	124	liquidate	liquidate	VERB
ftr-493	750	125	unless	unless	SCONJ
ftr-493	750	126	at	at	ADV
ftr-493	750	127	least	least	ADJ
ftr-493	750	128	a	a	DET
ftr-493	750	129	majority	majority	NOUN
ftr-493	750	130	of	of	ADP
ftr-493	750	131	the	the	DET
ftr-493	750	132	other	other	ADJ
ftr-493	750	133	certificate	certificate	NOUN
ftr-493	750	134	holders	holder	NOUN
ftr-493	750	135	affirmatively	affirmatively	ADV
ftr-493	750	136	vote	vote	VERB
ftr-493	750	137	to	to	PART
ftr-493	750	138	continue	continue	VERB
ftr-493	750	139	the	the	DET
ftr-493	750	140	transaction,105	transaction,105	PROPN
ftr-493	750	141	(	(	PUNCT
ftr-493	750	142	iii	iii	X
ftr-493	750	143	)	)	PUNCT
ftr-493	750	144	each	each	PRON
ftr-493	750	145	of	of	ADP
ftr-493	750	146	the	the	DET
ftr-493	750	147	certificate	certificate	NOUN
ftr-493	750	148	holders	holder	NOUN
ftr-493	750	149	,	,	PUNCT
ftr-493	750	150	either	either	CCONJ
ftr-493	750	151	alone	alone	ADJ
ftr-493	750	152	or	or	CCONJ
ftr-493	750	153	in	in	ADP
ftr-493	750	154	combination	combination	NOUN
ftr-493	750	155	102	102	NUM
ftr-493	750	156	.	.	PUNCT
ftr-493	751	1	for	for	ADP
ftr-493	751	2	a	a	DET
ftr-493	751	3	recent	recent	ADJ
ftr-493	751	4	,	,	PUNCT
ftr-493	751	5	thorough	thorough	ADJ
ftr-493	751	6	discussion	discussion	NOUN
ftr-493	751	7	of	of	ADP
ftr-493	751	8	the	the	DET
ftr-493	751	9	issues	issue	NOUN
ftr-493	751	10	involved	involve	VERB
ftr-493	751	11	in	in	ADP
ftr-493	751	12	characterizing	characterize	VERB
ftr-493	751	13	an	an	DET
ftr-493	751	14	entity	entity	NOUN
ftr-493	751	15	as	as	ADP
ftr-493	751	16	a	a	DET
ftr-493	751	17	partnership	partnership	NOUN
ftr-493	751	18	for	for	ADP
ftr-493	751	19	federal	federal	ADJ
ftr-493	751	20	income	income	NOUN
ftr-493	751	21	tax	tax	NOUN
ftr-493	751	22	purposes	purpose	NOUN
ftr-493	751	23	.	.	PUNCT
ftr-493	752	1	see	see	VERB
ftr-493	752	2	william	william	PROPN
ftr-493	752	3	b.	b.	PROPN
ftr-493	752	4	brannan	brannan	PROPN
ftr-493	752	5	.	.	PUNCT
ftr-493	753	1	lingering	linger	VERB
ftr-493	753	2	partnership	partnership	NOUN
ftr-493	753	3	classification	classification	NOUN
ftr-493	753	4	issues	issue	NOUN
ftr-493	753	5	(	(	PUNCT
ftr-493	753	6	just	just	ADV
ftr-493	753	7	when	when	SCONJ
ftr-493	753	8	you	you	PRON
ftr-493	753	9	thought	think	VERB
ftr-493	753	10	it	it	PRON
ftr-493	753	11	was	be	AUX
ftr-493	753	12	safe	safe	ADJ
ftr-493	753	13	to	to	PART
ftr-493	753	14	go	go	VERB
ftr-493	753	15	back	back	ADV
ftr-493	753	16	into	into	ADP
ftr-493	753	17	the	the	DET
ftr-493	753	18	water	water	NOUN
ftr-493	753	19	)	)	PUNCT
ftr-493	753	20	,	,	PUNCT
ftr-493	753	21	1	1	NUM
ftr-493	753	22	fla	fla	PROPN
ftr-493	753	23	.	.	PUNCT
ftr-493	754	1	tax	tax	PROPN
ftr-493	754	2	rev	rev	PROPN
ftr-493	754	3	.	.	PROPN
ftr-493	754	4	197	197	NUM
ftr-493	754	5	(	(	PUNCT
ftr-493	754	6	1993	1993	NUM
ftr-493	754	7	)	)	PUNCT
ftr-493	754	8	.	.	PUNCT
ftr-493	755	1	103	103	NUM
ftr-493	755	2	.	.	PUNCT
ftr-493	756	1	again	again	ADV
ftr-493	756	2	,	,	PUNCT
ftr-493	756	3	this	this	PRON
ftr-493	756	4	assumes	assume	VERB
ftr-493	756	5	that	that	SCONJ
ftr-493	756	6	the	the	DET
ftr-493	756	7	publicly	publicly	ADV
ftr-493	756	8	traded	trade	VERB
ftr-493	756	9	partnership	partnership	NOUN
ftr-493	756	10	rules	rule	NOUN
ftr-493	756	11	of	of	ADP
ftr-493	756	12	section	section	NOUN
ftr-493	756	13	7704	7704	NUM
ftr-493	756	14	do	do	AUX
ftr-493	756	15	not	not	PART
ftr-493	756	16	apply	apply	VERB
ftr-493	756	17	to	to	ADP
ftr-493	756	18	the	the	DET
ftr-493	756	19	trust	trust	NOUN
ftr-493	756	20	,	,	PUNCT
ftr-493	756	21	either	either	CCONJ
ftr-493	756	22	because	because	SCONJ
ftr-493	756	23	the	the	DET
ftr-493	756	24	trust	trust	NOUN
ftr-493	756	25	certificates	certificate	NOUN
ftr-493	756	26	are	be	AUX
ftr-493	756	27	not	not	PART
ftr-493	756	28	publicly	publicly	ADV
ftr-493	756	29	traded	trade	VERB
ftr-493	756	30	,	,	PUNCT
ftr-493	756	31	which	which	PRON
ftr-493	756	32	is	be	AUX
ftr-493	756	33	apparently	apparently	ADV
ftr-493	756	34	the	the	DET
ftr-493	756	35	case	case	NOUN
ftr-493	756	36	,	,	PUNCT
ftr-493	756	37	or	or	CCONJ
ftr-493	756	38	because	because	SCONJ
ftr-493	756	39	at	at	ADV
ftr-493	756	40	least	least	ADV
ftr-493	756	41	90	90	NUM
ftr-493	756	42	%	%	NOUN
ftr-493	756	43	of	of	ADP
ftr-493	756	44	the	the	DET
ftr-493	756	45	trust	trust	NOUN
ftr-493	756	46	's	's	PART
ftr-493	756	47	income	income	NOUN
ftr-493	756	48	consists	consist	VERB
ftr-493	756	49	of	of	ADP
ftr-493	756	50	"	"	PUNCT
ftr-493	756	51	qualifying	qualify	VERB
ftr-493	756	52	income	income	NOUN
ftr-493	756	53	"	"	PUNCT
ftr-493	756	54	within	within	ADP
ftr-493	756	55	the	the	DET
ftr-493	756	56	meaning	meaning	NOUN
ftr-493	756	57	of	of	ADP
ftr-493	756	58	section	section	NOUN
ftr-493	756	59	7704(c	7704(c	NOUN
ftr-493	756	60	)	)	PUNCT
ftr-493	756	61	,	,	PUNCT
ftr-493	756	62	which	which	PRON
ftr-493	756	63	is	be	AUX
ftr-493	756	64	also	also	ADV
ftr-493	756	65	likely	likely	ADJ
ftr-493	756	66	the	the	DET
ftr-493	756	67	case	case	NOUN
ftr-493	756	68	.	.	PUNCT
ftr-493	757	1	but	but	CCONJ
ftr-493	757	2	see	see	VERB
ftr-493	757	3	irc	irc	ADV
ftr-493	757	4	§	§	PROPN
ftr-493	757	5	7704(c)(3	7704(c)(3	NOUN
ftr-493	757	6	)	)	PUNCT
ftr-493	757	7	(	(	PUNCT
ftr-493	757	8	90	90	NUM
ftr-493	757	9	%	%	NOUN
ftr-493	757	10	qualifying	qualify	VERB
ftr-493	757	11	income	income	NOUN
ftr-493	757	12	exception	exception	NOUN
ftr-493	757	13	from	from	ADP
ftr-493	757	14	publicly	publicly	ADV
ftr-493	757	15	traded	trade	VERB
ftr-493	757	16	partnership	partnership	NOUN
ftr-493	757	17	status	status	NOUN
ftr-493	757	18	does	do	AUX
ftr-493	757	19	not	not	PART
ftr-493	757	20	apply	apply	VERB
ftr-493	757	21	if	if	SCONJ
ftr-493	757	22	partnership	partnership	NOUN
ftr-493	757	23	could	could	AUX
ftr-493	757	24	qualify	qualify	VERB
ftr-493	757	25	as	as	ADP
ftr-493	757	26	a	a	DET
ftr-493	757	27	ric	ric	NOUN
ftr-493	757	28	if	if	SCONJ
ftr-493	757	29	it	it	PRON
ftr-493	757	30	were	be	AUX
ftr-493	757	31	a	a	DET
ftr-493	757	32	domestic	domestic	ADJ
ftr-493	757	33	corporation	corporation	NOUN
ftr-493	757	34	)	)	PUNCT
ftr-493	757	35	.	.	PUNCT
ftr-493	758	1	104	104	NUM
ftr-493	758	2	.	.	PUNCT
ftr-493	759	1	the	the	DET
ftr-493	759	2	analogy	analogy	NOUN
ftr-493	759	3	here	here	ADV
ftr-493	759	4	is	be	AUX
ftr-493	759	5	to	to	ADP
ftr-493	759	6	the	the	DET
ftr-493	759	7	general	general	ADJ
ftr-493	759	8	partner	partner	NOUN
ftr-493	759	9	of	of	ADP
ftr-493	759	10	a	a	DET
ftr-493	759	11	limited	limited	ADJ
ftr-493	759	12	partnership	partnership	NOUN
ftr-493	759	13	.	.	PUNCT
ftr-493	760	1	in	in	ADP
ftr-493	760	2	the	the	DET
ftr-493	760	3	real	real	ADJ
ftr-493	760	4	world	world	NOUN
ftr-493	760	5	,	,	PUNCT
ftr-493	760	6	of	of	ADP
ftr-493	760	7	course	course	NOUN
ftr-493	760	8	,	,	PUNCT
ftr-493	760	9	it	it	PRON
ftr-493	760	10	is	be	AUX
ftr-493	760	11	extremely	extremely	ADV
ftr-493	760	12	unlikely	unlikely	ADJ
ftr-493	760	13	that	that	SCONJ
ftr-493	760	14	there	there	PRON
ftr-493	760	15	would	would	AUX
ftr-493	760	16	be	be	AUX
ftr-493	760	17	any	any	DET
ftr-493	760	18	debts	debt	NOUN
ftr-493	760	19	of	of	ADP
ftr-493	760	20	or	or	CCONJ
ftr-493	760	21	claims	claim	NOUN
ftr-493	760	22	against	against	ADP
ftr-493	760	23	the	the	DET
ftr-493	760	24	trust	trust	NOUN
ftr-493	760	25	.	.	PUNCT
ftr-493	761	1	105	105	NUM
ftr-493	761	2	.	.	PUNCT
ftr-493	762	1	the	the	DET
ftr-493	762	2	power	power	NOUN
ftr-493	762	3	of	of	ADP
ftr-493	762	4	a	a	DET
ftr-493	762	5	majority	majority	NOUN
ftr-493	762	6	of	of	ADP
ftr-493	762	7	the	the	DET
ftr-493	762	8	other	other	ADJ
ftr-493	762	9	certificate	certificate	NOUN
ftr-493	762	10	holders	holder	NOUN
ftr-493	762	11	to	to	PART
ftr-493	762	12	override	override	VERB
ftr-493	762	13	a	a	DET
ftr-493	762	14	liquidation	liquidation	NOUN
ftr-493	762	15	event	event	NOUN
ftr-493	762	16	is	be	AUX
ftr-493	762	17	based	base	VERB
ftr-493	762	18	on	on	ADP
ftr-493	762	19	proposed	propose	VERB
ftr-493	762	20	amendments	amendment	NOUN
ftr-493	762	21	to	to	ADP
ftr-493	762	22	regulations	regulation	NOUN
ftr-493	762	23	section	section	NOUN
ftr-493	762	24	301.770	301.770	NUM
ftr-493	762	25	l-2(b	l-2(b	NOUN
ftr-493	762	26	)	)	PUNCT
ftr-493	762	27	(	(	PUNCT
ftr-493	762	28	1	1	NUM
ftr-493	762	29	)	)	PUNCT
ftr-493	762	30	.	.	PUNCT
ftr-493	763	1	57	57	NUM
ftr-493	763	2	fed	fed	PROPN
ftr-493	763	3	.	.	PUNCT
ftr-493	764	1	reg	reg	PROPN
ftr-493	764	2	.	.	PUNCT
ftr-493	765	1	32,472	32,472	NUM
ftr-493	765	2	(	(	PUNCT
ftr-493	765	3	1992	1992	NUM
ftr-493	765	4	)	)	PUNCT
ftr-493	765	5	.	.	PUNCT
ftr-493	766	1	the	the	DET
ftr-493	766	2	current	current	ADJ
ftr-493	766	3	version	version	NOUN
ftr-493	766	4	of	of	ADP
ftr-493	766	5	regulations	regulation	NOUN
ftr-493	766	6	section	section	VERB
ftr-493	766	7	301.7701	301.7701	NUM
ftr-493	766	8	-	-	SYM
ftr-493	766	9	2(b)(1	2(b)(1	NUM
ftr-493	766	10	)	)	PUNCT
ftr-493	766	11	would	would	AUX
ftr-493	766	12	require	require	VERB
ftr-493	766	13	all	all	DET
ftr-493	766	14	the	the	DET
ftr-493	766	15	remaining	remain	VERB
ftr-493	766	16	certificate	certificate	NOUN
ftr-493	766	17	holders	holder	NOUN
ftr-493	766	18	to	to	PART
ftr-493	766	19	vote	vote	VERB
ftr-493	766	20	to	to	PART
ftr-493	766	21	override	override	VERB
ftr-493	766	22	a	a	DET
ftr-493	766	23	liquidation	liquidation	NOUN
ftr-493	766	24	event	event	NOUN
ftr-493	766	25	,	,	PUNCT
ftr-493	766	26	although	although	SCONJ
ftr-493	766	27	this	this	DET
ftr-493	766	28	rule	rule	NOUN
ftr-493	766	29	of	of	ADP
ftr-493	766	30	unanimity	unanimity	NOUN
ftr-493	766	31	clearly	clearly	ADV
ftr-493	766	32	does	do	AUX
ftr-493	766	33	not	not	PART
ftr-493	766	34	reflect	reflect	VERB
ftr-493	766	35	current	current	ADJ
ftr-493	766	36	service	service	NOUN
ftr-493	766	37	practice	practice	NOUN
ftr-493	766	38	(	(	PUNCT
ftr-493	766	39	at	at	ADP
ftr-493	766	40	least	least	ADJ
ftr-493	766	41	in	in	ADP
ftr-493	766	42	the	the	DET
ftr-493	766	43	limited	limited	ADJ
ftr-493	766	44	partnership	partnership	NOUN
ftr-493	766	45	area	area	NOUN
ftr-493	766	46	)	)	PUNCT
ftr-493	766	47	.	.	PUNCT
ftr-493	767	1	see	see	VERB
ftr-493	767	2	,	,	PUNCT
ftr-493	767	3	e.g.	e.g.	ADV
ftr-493	767	4	,	,	PUNCT
ftr-493	767	5	rev	rev	PROPN
ftr-493	767	6	.	.	PROPN
ftr-493	767	7	proc	proc	PROPN
ftr-493	767	8	.	.	PUNCT
ftr-493	768	1	89	89	NUM
ftr-493	768	2	-	-	SYM
ftr-493	768	3	12	12	NUM
ftr-493	768	4	,	,	PUNCT
ftr-493	768	5	1989	1989	NUM
ftr-493	768	6	-	-	SYM
ftr-493	768	7	1	1	NUM
ftr-493	768	8	c.b	c.b	PROPN
ftr-493	768	9	.	.	PROPN
ftr-493	768	10	798	798	NUM
ftr-493	768	11	,	,	PUNCT
ftr-493	768	12	amplified	amplify	VERB
ftr-493	768	13	,	,	PUNCT
ftr-493	768	14	rev	rev	PROPN
ftr-493	768	15	.	.	PROPN
ftr-493	768	16	proc	proc	PROPN
ftr-493	768	17	.	.	PUNCT
ftr-493	769	1	91	91	NUM
ftr-493	769	2	-	-	SYM
ftr-493	769	3	13	13	NUM
ftr-493	769	4	,	,	PUNCT
ftr-493	769	5	1991	1991	NUM
ftr-493	769	6	-	-	SYM
ftr-493	769	7	1	1	NUM
ftr-493	769	8	c.b	c.b	PROPN
ftr-493	769	9	.	.	PROPN
ftr-493	769	10	477	477	NUM
ftr-493	769	11	,	,	PUNCT
ftr-493	769	12	and	and	CCONJ
ftr-493	769	13	supplemented	supplement	VERB
ftr-493	769	14	,	,	PUNCT
ftr-493	769	15	rev	rev	PROPN
ftr-493	769	16	.	.	PROPN
ftr-493	769	17	proc	proc	PROPN
ftr-493	769	18	.	.	PUNCT
ftr-493	770	1	92	92	NUM
ftr-493	770	2	-	-	SYM
ftr-493	770	3	33	33	NUM
ftr-493	770	4	,	,	PUNCT
ftr-493	770	5	1992	1992	NUM
ftr-493	770	6	-	-	SYM
ftr-493	770	7	1	1	NUM
ftr-493	770	8	c.b	c.b	PROPN
ftr-493	770	9	.	.	PROPN
ftr-493	770	10	782	782	NUM
ftr-493	770	11	,	,	PUNCT
ftr-493	770	12	and	and	CCONJ
ftr-493	770	13	modified	modify	VERB
ftr-493	770	14	.	.	PUNCT
ftr-493	771	1	rev	rev	PROPN
ftr-493	771	2	.	.	PROPN
ftr-493	771	3	proc	proc	PROPN
ftr-493	771	4	.	.	PUNCT
ftr-493	772	1	92	92	NUM
ftr-493	772	2	-	-	SYM
ftr-493	772	3	87	87	NUM
ftr-493	772	4	,	,	PUNCT
ftr-493	772	5	19931	19931	NUM
ftr-493	772	6	florida	florida	PROPN
ftr-493	772	7	tax	tax	NOUN
ftr-493	772	8	review	review	NOUN
ftr-493	772	9	with	with	ADP
ftr-493	772	10	the	the	DET
ftr-493	772	11	other	other	ADJ
ftr-493	772	12	certificate	certificate	NOUN
ftr-493	772	13	holders	holder	NOUN
ftr-493	772	14	,	,	PUNCT
ftr-493	772	15	has	have	VERB
ftr-493	772	16	the	the	DET
ftr-493	772	17	authority	authority	NOUN
ftr-493	772	18	to	to	PART
ftr-493	772	19	manage	manage	VERB
ftr-493	772	20	the	the	DET
ftr-493	772	21	affairs	affair	NOUN
ftr-493	772	22	of	of	ADP
ftr-493	772	23	the	the	DET
ftr-493	772	24	trust	trust	NOUN
ftr-493	772	25	or	or	CCONJ
ftr-493	772	26	,	,	PUNCT
ftr-493	772	27	if	if	SCONJ
ftr-493	772	28	such	such	ADJ
ftr-493	772	29	is	be	AUX
ftr-493	772	30	not	not	PART
ftr-493	772	31	the	the	DET
ftr-493	772	32	case	case	NOUN
ftr-493	772	33	,	,	PUNCT
ftr-493	772	34	those	those	DET
ftr-493	772	35	persons	person	NOUN
ftr-493	772	36	having	have	VERB
ftr-493	772	37	such	such	ADJ
ftr-493	772	38	authority	authority	NOUN
ftr-493	772	39	consist	consist	NOUN
ftr-493	772	40	of	of	ADP
ftr-493	772	41	certificate	certificate	NOUN
ftr-493	772	42	holders	holder	NOUN
ftr-493	772	43	owning	own	VERB
ftr-493	772	44	more	more	ADJ
ftr-493	772	45	than	than	ADP
ftr-493	772	46	an	an	DET
ftr-493	772	47	insubstantial	insubstantial	ADJ
ftr-493	772	48	amount	amount	NOUN
ftr-493	772	49	of	of	ADP
ftr-493	772	50	the	the	DET
ftr-493	772	51	certificates,'1	certificates,'1	PROPN
ftr-493	772	52	6	6	NUM
ftr-493	772	53	or	or	CCONJ
ftr-493	772	54	(	(	PUNCT
ftr-493	772	55	iv	iv	X
ftr-493	772	56	)	)	PUNCT
ftr-493	772	57	more	more	ADJ
ftr-493	772	58	than	than	ADP
ftr-493	772	59	an	an	DET
ftr-493	772	60	insubstantial	insubstantial	ADJ
ftr-493	772	61	portion	portion	NOUN
ftr-493	772	62	of	of	ADP
ftr-493	772	63	the	the	DET
ftr-493	772	64	certificates	certificate	NOUN
ftr-493	772	65	can	can	AUX
ftr-493	772	66	not	not	PART
ftr-493	772	67	be	be	AUX
ftr-493	772	68	transferred	transfer	VERB
ftr-493	772	69	without	without	ADP
ftr-493	772	70	the	the	DET
ftr-493	772	71	consent	consent	NOUN
ftr-493	772	72	of	of	ADP
ftr-493	772	73	at	at	ADV
ftr-493	772	74	least	least	ADJ
ftr-493	772	75	one	one	NUM
ftr-493	772	76	of	of	ADP
ftr-493	772	77	the	the	DET
ftr-493	772	78	certificate	certificate	NOUN
ftr-493	772	79	holders	holder	NOUN
ftr-493	772	80	.	.	PUNCT
ftr-493	773	1	'0	'0	VERB
ftr-493	773	2	7	7	NUM
ftr-493	773	3	in	in	ADP
ftr-493	773	4	the	the	DET
ftr-493	773	5	context	context	NOUN
ftr-493	773	6	of	of	ADP
ftr-493	773	7	the	the	DET
ftr-493	773	8	trust	trust	NOUN
ftr-493	773	9	,	,	PUNCT
ftr-493	773	10	for	for	ADP
ftr-493	773	11	example	example	NOUN
ftr-493	773	12	,	,	PUNCT
ftr-493	773	13	tax	tax	NOUN
ftr-493	773	14	counsel	counsel	NOUN
ftr-493	773	15	might	might	AUX
ftr-493	773	16	have	have	AUX
ftr-493	773	17	qualified	qualify	VERB
ftr-493	773	18	the	the	DET
ftr-493	773	19	trust	trust	NOUN
ftr-493	773	20	as	as	ADP
ftr-493	773	21	a	a	DET
ftr-493	773	22	partnership	partnership	NOUN
ftr-493	773	23	by	by	ADP
ftr-493	773	24	having	have	VERB
ftr-493	773	25	merrill	merrill	PROPN
ftr-493	773	26	lynch	lynch	PROPN
ftr-493	773	27	create	create	VERB
ftr-493	773	28	a	a	DET
ftr-493	773	29	special	special	ADJ
ftr-493	773	30	purpose	purpose	NOUN
ftr-493	773	31	"	"	PUNCT
ftr-493	773	32	bankruptcy	bankruptcy	NOUN
ftr-493	773	33	remote	remote	NOUN
ftr-493	773	34	"	"	PUNCT
ftr-493	773	35	'	'	PUNCT
ftr-493	773	36	subsidiary	subsidiary	NOUN
ftr-493	773	37	to	to	PART
ftr-493	773	38	purchase	purchase	VERB
ftr-493	773	39	one	one	NUM
ftr-493	773	40	percent	percent	NOUN
ftr-493	773	41	of	of	ADP
ftr-493	773	42	each	each	DET
ftr-493	773	43	class	class	NOUN
ftr-493	773	44	of	of	ADP
ftr-493	773	45	certificates	certificate	NOUN
ftr-493	773	46	.	.	PUNCT
ftr-493	773	47	'	'	PUNCT
ftr-493	774	1	9	9	NUM
ftr-493	774	2	assuming	assume	VERB
ftr-493	774	3	that	that	SCONJ
ftr-493	774	4	(	(	PUNCT
ftr-493	774	5	a	a	X
ftr-493	774	6	)	)	PUNCT
ftr-493	774	7	the	the	DET
ftr-493	774	8	merrill	merrill	PROPN
ftr-493	774	9	lynch	lynch	PROPN
ftr-493	774	10	subsidiary	subsidiary	PROPN
ftr-493	774	11	is	be	AUX
ftr-493	774	12	capitalized	capitalize	VERB
ftr-493	774	13	with	with	ADP
ftr-493	774	14	a	a	DET
ftr-493	774	15	demand	demand	NOUN
ftr-493	774	16	note	note	NOUN
ftr-493	774	17	from	from	ADP
ftr-493	774	18	a	a	DET
ftr-493	774	19	creditworthy	creditworthy	ADJ
ftr-493	774	20	merrill	merrill	NOUN
ftr-493	774	21	lynch	lynch	PROPN
ftr-493	774	22	entity	entity	NOUN
ftr-493	774	23	or	or	CCONJ
ftr-493	774	24	with	with	ADP
ftr-493	774	25	other	other	ADJ
ftr-493	774	26	substantial	substantial	ADJ
ftr-493	774	27	assets	asset	NOUN
ftr-493	774	28	,	,	PUNCT
ftr-493	774	29	(	(	PUNCT
ftr-493	774	30	b	b	X
ftr-493	774	31	)	)	PUNCT
ftr-493	774	32	the	the	DET
ftr-493	774	33	subsidiary	subsidiary	NOUN
ftr-493	774	34	undertakes	undertake	VERB
ftr-493	774	35	personal	personal	ADJ
ftr-493	774	36	liability	liability	NOUN
ftr-493	774	37	under	under	ADP
ftr-493	774	38	the	the	DET
ftr-493	774	39	trust	trust	NOUN
ftr-493	774	40	constituent	constituent	NOUN
ftr-493	774	41	documents	document	NOUN
ftr-493	774	42	for	for	ADP
ftr-493	774	43	any	any	DET
ftr-493	774	44	debts	debt	NOUN
ftr-493	774	45	of	of	ADP
ftr-493	774	46	,	,	PUNCT
ftr-493	774	47	or	or	CCONJ
ftr-493	774	48	claims	claim	NOUN
ftr-493	774	49	against	against	ADP
ftr-493	774	50	,	,	PUNCT
ftr-493	774	51	the	the	DET
ftr-493	774	52	trust	trust	NOUN
ftr-493	774	53	,	,	PUNCT
ftr-493	774	54	and	and	CCONJ
ftr-493	774	55	(	(	PUNCT
ftr-493	774	56	c	c	NOUN
ftr-493	774	57	)	)	PUNCT
ftr-493	774	58	,	,	PUNCT
ftr-493	774	59	under	under	ADP
ftr-493	774	60	those	those	DET
ftr-493	774	61	constituent	constituent	ADJ
ftr-493	774	62	documents	document	NOUN
ftr-493	774	63	and	and	CCONJ
ftr-493	774	64	absent	absent	ADJ
ftr-493	774	65	a	a	DET
ftr-493	774	66	vote	vote	NOUN
ftr-493	774	67	of	of	ADP
ftr-493	774	68	the	the	DET
ftr-493	774	69	majority	majority	NOUN
ftr-493	774	70	of	of	ADP
ftr-493	774	71	the	the	DET
ftr-493	774	72	other	other	ADJ
ftr-493	774	73	certificate	certificate	NOUN
ftr-493	774	74	holders	holder	NOUN
ftr-493	774	75	,	,	PUNCT
ftr-493	774	76	a	a	DET
ftr-493	774	77	bankruptcy	bankruptcy	NOUN
ftr-493	774	78	of	of	ADP
ftr-493	774	79	the	the	DET
ftr-493	774	80	subsidiary	subsidiary	NOUN
ftr-493	774	81	will	will	AUX
ftr-493	774	82	cause	cause	VERB
ftr-493	774	83	the	the	DET
ftr-493	774	84	trust	trust	NOUN
ftr-493	774	85	to	to	PART
ftr-493	774	86	sell	sell	VERB
ftr-493	774	87	the	the	DET
ftr-493	774	88	underlying	underlie	VERB
ftr-493	774	89	stocks	stock	NOUN
ftr-493	774	90	and	and	CCONJ
ftr-493	774	91	liquidate	liquidate	NOUN
ftr-493	774	92	,	,	PUNCT
ftr-493	774	93	conditions	condition	NOUN
ftr-493	774	94	(	(	PUNCT
ftr-493	774	95	i	i	NOUN
ftr-493	774	96	)	)	PUNCT
ftr-493	774	97	and	and	CCONJ
ftr-493	774	98	(	(	PUNCT
ftr-493	774	99	ii	ii	NOUN
ftr-493	774	100	)	)	PUNCT
ftr-493	774	101	above	above	ADV
ftr-493	774	102	should	should	AUX
ftr-493	774	103	be	be	AUX
ftr-493	774	104	satisfied	satisfied	ADJ
ftr-493	774	105	,	,	PUNCT
ftr-493	774	106	thereby	thereby	ADV
ftr-493	774	107	qualifying	qualify	VERB
ftr-493	774	108	the	the	DET
ftr-493	774	109	trust	trust	NOUN
ftr-493	774	110	as	as	ADP
ftr-493	774	111	a	a	DET
ftr-493	774	112	partnership	partnership	NOUN
ftr-493	774	113	for	for	ADP
ftr-493	774	114	federal	federal	ADJ
ftr-493	774	115	income	income	NOUN
ftr-493	774	116	tax	tax	NOUN
ftr-493	774	117	purposes	purpose	NOUN
ftr-493	774	118	.	.	PUNCT
ftr-493	775	1	d.	d.	PROPN
ftr-493	775	2	optimization	optimization	NOUN
ftr-493	775	3	of	of	ADP
ftr-493	775	4	the	the	DET
ftr-493	775	5	drd	drd	NOUN
ftr-493	775	6	the	the	DET
ftr-493	775	7	final	final	ADJ
ftr-493	775	8	goal	goal	NOUN
ftr-493	775	9	that	that	PRON
ftr-493	775	10	structured	structure	VERB
ftr-493	775	11	finance	finance	NOUN
ftr-493	775	12	transactions	transaction	NOUN
ftr-493	775	13	seek	seek	VERB
ftr-493	775	14	to	to	PART
ftr-493	775	15	achieve	achieve	VERB
ftr-493	775	16	is	be	AUX
ftr-493	775	17	the	the	DET
ftr-493	775	18	preservation	preservation	NOUN
ftr-493	775	19	of	of	ADP
ftr-493	775	20	the	the	DET
ftr-493	775	21	tax	tax	NOUN
ftr-493	775	22	-	-	PUNCT
ftr-493	775	23	advantaged	advantaged	ADJ
ftr-493	775	24	character	character	NOUN
ftr-493	775	25	,	,	PUNCT
ftr-493	775	26	if	if	SCONJ
ftr-493	775	27	any	any	PRON
ftr-493	775	28	,	,	PUNCT
ftr-493	775	29	of	of	ADP
ftr-493	775	30	the	the	DET
ftr-493	775	31	underlying	underlie	VERB
ftr-493	775	32	1992	1992	NUM
ftr-493	775	33	-	-	SYM
ftr-493	775	34	42	42	NUM
ftr-493	775	35	i.r.b	i.r.b	NOUN
ftr-493	775	36	.	.	PUNCT
ftr-493	776	1	38	38	NUM
ftr-493	776	2	and	and	CCONJ
ftr-493	776	3	rev	rev	PROPN
ftr-493	776	4	.	.	PROPN
ftr-493	776	5	proc	proc	PROPN
ftr-493	776	6	.	.	PUNCT
ftr-493	777	1	92	92	NUM
ftr-493	777	2	-	-	SYM
ftr-493	777	3	88	88	NUM
ftr-493	777	4	,	,	PUNCT
ftr-493	777	5	1992	1992	NUM
ftr-493	777	6	-	-	SYM
ftr-493	777	7	42	42	NUM
ftr-493	777	8	i.r.b	i.r.b	NOUN
ftr-493	777	9	.	.	PUNCT
ftr-493	778	1	39	39	NUM
ftr-493	778	2	.	.	PUNCT
ftr-493	779	1	106	106	NUM
ftr-493	779	2	.	.	PUNCT
ftr-493	780	1	based	base	VERB
ftr-493	780	2	on	on	ADP
ftr-493	780	3	the	the	DET
ftr-493	780	4	service	service	NOUN
ftr-493	780	5	's	's	PART
ftr-493	780	6	ruling	rule	VERB
ftr-493	780	7	guidelines	guideline	NOUN
ftr-493	780	8	with	with	ADP
ftr-493	780	9	respect	respect	NOUN
ftr-493	780	10	to	to	ADP
ftr-493	780	11	limited	limited	ADJ
ftr-493	780	12	partnerships	partnership	NOUN
ftr-493	780	13	,	,	PUNCT
ftr-493	780	14	this	this	DET
ftr-493	780	15	condition	condition	NOUN
ftr-493	780	16	should	should	AUX
ftr-493	780	17	be	be	AUX
ftr-493	780	18	satisfied	satisfied	ADJ
ftr-493	780	19	if	if	SCONJ
ftr-493	780	20	the	the	DET
ftr-493	780	21	"	"	PUNCT
ftr-493	780	22	managing	manage	VERB
ftr-493	780	23	"	"	PUNCT
ftr-493	780	24	certificate	certificate	NOUN
ftr-493	780	25	holders	holder	NOUN
ftr-493	780	26	own	own	VERB
ftr-493	780	27	at	at	ADV
ftr-493	780	28	least	least	ADV
ftr-493	780	29	20	20	NUM
ftr-493	780	30	%	%	NOUN
ftr-493	780	31	of	of	ADP
ftr-493	780	32	the	the	DET
ftr-493	780	33	certificates	certificate	NOUN
ftr-493	780	34	(	(	PUNCT
ftr-493	780	35	based	base	VERB
ftr-493	780	36	on	on	ADP
ftr-493	780	37	value	value	NOUN
ftr-493	780	38	)	)	PUNCT
ftr-493	780	39	.	.	PUNCT
ftr-493	781	1	rev	rev	PROPN
ftr-493	781	2	.	.	PROPN
ftr-493	781	3	proc	proc	PROPN
ftr-493	781	4	.	.	PUNCT
ftr-493	782	1	89	89	NUM
ftr-493	782	2	-	-	SYM
ftr-493	782	3	12	12	NUM
ftr-493	782	4	,	,	PUNCT
ftr-493	782	5	supra	supra	NOUN
ftr-493	782	6	note	note	NOUN
ftr-493	782	7	105	105	NUM
ftr-493	782	8	.	.	PUNCT
ftr-493	782	9	107	107	NUM
ftr-493	782	10	.	.	PUNCT
ftr-493	783	1	rev	rev	PROPN
ftr-493	783	2	.	.	PROPN
ftr-493	783	3	proc	proc	PROPN
ftr-493	783	4	.	.	PUNCT
ftr-493	784	1	92	92	NUM
ftr-493	784	2	-	-	SYM
ftr-493	784	3	33	33	NUM
ftr-493	784	4	,	,	PUNCT
ftr-493	784	5	1992	1992	NUM
ftr-493	784	6	-	-	SYM
ftr-493	784	7	1	1	NUM
ftr-493	784	8	c.b	c.b	PROPN
ftr-493	784	9	.	.	PROPN
ftr-493	784	10	782	782	NUM
ftr-493	784	11	.	.	PUNCT
ftr-493	785	1	based	base	VERB
ftr-493	785	2	on	on	ADP
ftr-493	785	3	the	the	DET
ftr-493	785	4	service	service	NOUN
ftr-493	785	5	's	's	PART
ftr-493	785	6	ruling	rule	VERB
ftr-493	785	7	guidelines	guideline	NOUN
ftr-493	785	8	with	with	ADP
ftr-493	785	9	respect	respect	NOUN
ftr-493	785	10	to	to	ADP
ftr-493	785	11	limited	limited	ADJ
ftr-493	785	12	partnerships	partnership	NOUN
ftr-493	785	13	,	,	PUNCT
ftr-493	785	14	this	this	DET
ftr-493	785	15	condition	condition	NOUN
ftr-493	785	16	should	should	AUX
ftr-493	785	17	be	be	AUX
ftr-493	785	18	satisfied	satisfied	ADJ
ftr-493	785	19	if	if	SCONJ
ftr-493	785	20	at	at	ADV
ftr-493	785	21	least	least	ADV
ftr-493	785	22	20	20	NUM
ftr-493	785	23	%	%	NOUN
ftr-493	785	24	of	of	ADP
ftr-493	785	25	the	the	DET
ftr-493	785	26	certificates	certificate	NOUN
ftr-493	785	27	(	(	PUNCT
ftr-493	785	28	based	base	VERB
ftr-493	785	29	on	on	ADP
ftr-493	785	30	value	value	NOUN
ftr-493	785	31	)	)	PUNCT
ftr-493	785	32	are	be	AUX
ftr-493	785	33	nontransferable	nontransferable	ADJ
ftr-493	785	34	without	without	ADP
ftr-493	785	35	consent	consent	NOUN
ftr-493	785	36	.	.	PUNCT
ftr-493	786	1	even	even	ADV
ftr-493	786	2	then	then	ADV
ftr-493	786	3	,	,	PUNCT
ftr-493	786	4	certificates	certificate	NOUN
ftr-493	786	5	will	will	AUX
ftr-493	786	6	not	not	PART
ftr-493	786	7	be	be	AUX
ftr-493	786	8	considered	consider	VERB
ftr-493	786	9	transferable	transferable	ADJ
ftr-493	786	10	without	without	ADP
ftr-493	786	11	consent	consent	NOUN
ftr-493	786	12	if	if	SCONJ
ftr-493	786	13	only	only	ADV
ftr-493	786	14	the	the	DET
ftr-493	786	15	right	right	NOUN
ftr-493	786	16	to	to	PART
ftr-493	786	17	share	share	VERB
ftr-493	786	18	in	in	ADP
ftr-493	786	19	the	the	DET
ftr-493	786	20	trust	trust	NOUN
ftr-493	786	21	's	's	PART
ftr-493	786	22	profits	profit	NOUN
ftr-493	786	23	and	and	CCONJ
ftr-493	786	24	cash	cash	NOUN
ftr-493	786	25	flow	flow	NOUN
ftr-493	786	26	,	,	PUNCT
ftr-493	786	27	but	but	CCONJ
ftr-493	786	28	not	not	PART
ftr-493	786	29	the	the	DET
ftr-493	786	30	right	right	NOUN
ftr-493	786	31	to	to	PART
ftr-493	786	32	participate	participate	VERB
ftr-493	786	33	in	in	ADP
ftr-493	786	34	the	the	DET
ftr-493	786	35	management	management	NOUN
ftr-493	786	36	of	of	ADP
ftr-493	786	37	the	the	DET
ftr-493	786	38	trust	trust	NOUN
ftr-493	786	39	's	's	PART
ftr-493	786	40	affairs	affair	NOUN
ftr-493	786	41	,	,	PUNCT
ftr-493	786	42	can	can	AUX
ftr-493	786	43	be	be	AUX
ftr-493	786	44	assigned	assign	VERB
ftr-493	786	45	without	without	ADP
ftr-493	786	46	consent	consent	NOUN
ftr-493	786	47	.	.	PUNCT
ftr-493	787	1	see	see	VERB
ftr-493	787	2	regs	reg	NOUN
ftr-493	787	3	.	.	PUNCT
ftr-493	788	1	§	§	PROPN
ftr-493	788	2	301.7701	301.7701	PROPN
ftr-493	788	3	-	-	SYM
ftr-493	788	4	2(e)(1	2(e)(1	NUM
ftr-493	788	5	)	)	PUNCT
ftr-493	788	6	.	.	PUNCT
ftr-493	789	1	nevertheless	nevertheless	ADV
ftr-493	789	2	,	,	PUNCT
ftr-493	789	3	given	give	VERB
ftr-493	789	4	the	the	DET
ftr-493	789	5	likely	likely	ADJ
ftr-493	789	6	limited	limited	ADJ
ftr-493	789	7	participation	participation	NOUN
ftr-493	789	8	rights	right	NOUN
ftr-493	789	9	afforded	afford	VERB
ftr-493	789	10	to	to	ADP
ftr-493	789	11	certificate	certificate	NOUN
ftr-493	789	12	holders	holder	NOUN
ftr-493	789	13	,	,	PUNCT
ftr-493	789	14	it	it	PRON
ftr-493	789	15	is	be	AUX
ftr-493	789	16	not	not	PART
ftr-493	789	17	clear	clear	ADJ
ftr-493	789	18	that	that	SCONJ
ftr-493	789	19	this	this	DET
ftr-493	789	20	exception	exception	NOUN
ftr-493	789	21	could	could	AUX
ftr-493	789	22	apply	apply	VERB
ftr-493	789	23	.	.	PUNCT
ftr-493	790	1	108	108	NUM
ftr-493	790	2	.	.	PUNCT
ftr-493	791	1	bankruptcy	bankruptcy	NOUN
ftr-493	791	2	remoteness	remoteness	NOUN
ftr-493	791	3	means	mean	VERB
ftr-493	791	4	that	that	SCONJ
ftr-493	791	5	the	the	DET
ftr-493	791	6	subsidiary	subsidiary	NOUN
ftr-493	791	7	's	's	PART
ftr-493	791	8	activities	activity	NOUN
ftr-493	791	9	are	be	AUX
ftr-493	791	10	generally	generally	ADV
ftr-493	791	11	strictly	strictly	ADV
ftr-493	791	12	limited	limit	VERB
ftr-493	791	13	solely	solely	ADV
ftr-493	791	14	to	to	ADP
ftr-493	791	15	owning	own	VERB
ftr-493	791	16	the	the	DET
ftr-493	791	17	certificates	certificate	NOUN
ftr-493	791	18	so	so	SCONJ
ftr-493	791	19	as	as	SCONJ
ftr-493	791	20	to	to	PART
ftr-493	791	21	minimize	minimize	VERB
ftr-493	791	22	the	the	DET
ftr-493	791	23	risk	risk	NOUN
ftr-493	791	24	that	that	SCONJ
ftr-493	791	25	the	the	DET
ftr-493	791	26	subsidiary	subsidiary	NOUN
ftr-493	791	27	will	will	AUX
ftr-493	791	28	ever	ever	ADV
ftr-493	791	29	,	,	PUNCT
ftr-493	791	30	voluntarily	voluntarily	ADV
ftr-493	791	31	or	or	CCONJ
ftr-493	791	32	involuntarily	involuntarily	ADV
ftr-493	791	33	,	,	PUNCT
ftr-493	791	34	enter	enter	VERB
ftr-493	791	35	bankruptcy	bankruptcy	NOUN
ftr-493	791	36	proceedings	proceeding	NOUN
ftr-493	791	37	.	.	PUNCT
ftr-493	792	1	as	as	SCONJ
ftr-493	792	2	noted	note	VERB
ftr-493	792	3	in	in	ADP
ftr-493	792	4	the	the	DET
ftr-493	792	5	text	text	NOUN
ftr-493	792	6	,	,	PUNCT
ftr-493	792	7	the	the	DET
ftr-493	792	8	trust	trust	NOUN
ftr-493	792	9	will	will	AUX
ftr-493	792	10	be	be	AUX
ftr-493	792	11	required	require	VERB
ftr-493	792	12	,	,	PUNCT
ftr-493	792	13	absent	absent	ADJ
ftr-493	792	14	a	a	DET
ftr-493	792	15	contrary	contrary	ADJ
ftr-493	792	16	vote	vote	NOUN
ftr-493	792	17	of	of	ADP
ftr-493	792	18	a	a	DET
ftr-493	792	19	majority	majority	NOUN
ftr-493	792	20	of	of	ADP
ftr-493	792	21	the	the	DET
ftr-493	792	22	other	other	ADJ
ftr-493	792	23	certificate	certificate	NOUN
ftr-493	792	24	holders	holder	NOUN
ftr-493	792	25	,	,	PUNCT
ftr-493	792	26	to	to	PART
ftr-493	792	27	sell	sell	VERB
ftr-493	792	28	the	the	DET
ftr-493	792	29	underlying	underlie	VERB
ftr-493	792	30	stocks	stock	NOUN
ftr-493	792	31	and	and	CCONJ
ftr-493	792	32	liquidate	liquidate	VERB
ftr-493	792	33	if	if	SCONJ
ftr-493	792	34	the	the	DET
ftr-493	792	35	subsidiary	subsidiary	NOUN
ftr-493	792	36	goes	go	VERB
ftr-493	792	37	into	into	ADP
ftr-493	792	38	bankruptcy	bankruptcy	NOUN
ftr-493	792	39	.	.	PUNCT
ftr-493	793	1	the	the	DET
ftr-493	793	2	use	use	NOUN
ftr-493	793	3	of	of	ADP
ftr-493	793	4	a	a	DET
ftr-493	793	5	bankruptcy	bankruptcy	NOUN
ftr-493	793	6	remote	remote	ADJ
ftr-493	793	7	entity	entity	NOUN
ftr-493	793	8	is	be	AUX
ftr-493	793	9	to	to	PART
ftr-493	793	10	minimize	minimize	VERB
ftr-493	793	11	the	the	DET
ftr-493	793	12	risk	risk	NOUN
ftr-493	793	13	of	of	ADP
ftr-493	793	14	this	this	DET
ftr-493	793	15	occurring	occurring	NOUN
ftr-493	793	16	.	.	PUNCT
ftr-493	794	1	109	109	NUM
ftr-493	794	2	.	.	PUNCT
ftr-493	795	1	the	the	DET
ftr-493	795	2	reason	reason	NOUN
ftr-493	795	3	for	for	ADP
ftr-493	795	4	the	the	DET
ftr-493	795	5	1	1	NUM
ftr-493	795	6	%	%	NOUN
ftr-493	795	7	is	be	AUX
ftr-493	795	8	to	to	PART
ftr-493	795	9	ensure	ensure	VERB
ftr-493	795	10	that	that	SCONJ
ftr-493	795	11	the	the	DET
ftr-493	795	12	merrill	merrill	PROPN
ftr-493	795	13	lynch	lynch	PROPN
ftr-493	795	14	subsidiary	subsidiary	PROPN
ftr-493	795	15	owns	own	VERB
ftr-493	795	16	,	,	PUNCT
ftr-493	795	17	at	at	ADP
ftr-493	795	18	all	all	DET
ftr-493	795	19	times	time	NOUN
ftr-493	795	20	,	,	PUNCT
ftr-493	795	21	at	at	ADV
ftr-493	795	22	least	least	ADV
ftr-493	795	23	1	1	NUM
ftr-493	795	24	%	%	NOUN
ftr-493	795	25	of	of	ADP
ftr-493	795	26	the	the	DET
ftr-493	795	27	certificates	certificate	NOUN
ftr-493	795	28	,	,	PUNCT
ftr-493	795	29	based	base	VERB
ftr-493	795	30	on	on	ADP
ftr-493	795	31	value	value	NOUN
ftr-493	795	32	,	,	PUNCT
ftr-493	795	33	regardless	regardless	ADV
ftr-493	795	34	of	of	ADP
ftr-493	795	35	changes	change	NOUN
ftr-493	795	36	in	in	ADP
ftr-493	795	37	the	the	DET
ftr-493	795	38	relative	relative	ADJ
ftr-493	795	39	values	value	NOUN
ftr-493	795	40	of	of	ADP
ftr-493	795	41	the	the	DET
ftr-493	795	42	preferred	preferred	ADJ
ftr-493	795	43	and	and	CCONJ
ftr-493	795	44	common	common	ADJ
ftr-493	795	45	certificates	certificate	NOUN
ftr-493	795	46	,	,	PUNCT
ftr-493	795	47	and	and	CCONJ
ftr-493	795	48	therefore	therefore	ADV
ftr-493	795	49	qualifies	qualify	VERB
ftr-493	795	50	as	as	ADP
ftr-493	795	51	a	a	DET
ftr-493	795	52	bona	bona	ADJ
ftr-493	795	53	fide	fide	ADJ
ftr-493	795	54	"	"	PUNCT
ftr-493	795	55	partner	partner	NOUN
ftr-493	795	56	"	"	PUNCT
ftr-493	795	57	for	for	ADP
ftr-493	795	58	purposes	purpose	NOUN
ftr-493	795	59	of	of	ADP
ftr-493	795	60	applying	apply	VERB
ftr-493	795	61	the	the	DET
ftr-493	795	62	regulations	regulation	NOUN
ftr-493	795	63	section	section	NOUN
ftr-493	795	64	301.7704	301.7704	NUM
ftr-493	795	65	-	-	SYM
ftr-493	795	66	2	2	NUM
ftr-493	795	67	tests	test	NOUN
ftr-493	795	68	.	.	PUNCT
ftr-493	796	1	[	[	X
ftr-493	796	2	vol	vol	NOUN
ftr-493	796	3	1:5	1:5	NUM
ftr-493	796	4	selected	select	VERB
ftr-493	796	5	issues	issue	NOUN
ftr-493	796	6	in	in	ADP
ftr-493	796	7	the	the	DET
ftr-493	796	8	taxation	taxation	NOUN
ftr-493	796	9	of	of	ADP
ftr-493	796	10	swaps	swap	NOUN
ftr-493	796	11	trust	trust	NOUN
ftr-493	796	12	income	income	NOUN
ftr-493	796	13	and	and	CCONJ
ftr-493	796	14	the	the	DET
ftr-493	796	15	"	"	PUNCT
ftr-493	796	16	flowing	flow	VERB
ftr-493	796	17	through	through	ADP
ftr-493	796	18	"	"	PUNCT
ftr-493	796	19	of	of	ADP
ftr-493	796	20	the	the	DET
ftr-493	796	21	resultant	resultant	NOUN
ftr-493	796	22	tax	tax	NOUN
ftr-493	796	23	benefits	benefit	NOUN
ftr-493	796	24	to	to	ADP
ftr-493	796	25	the	the	DET
ftr-493	796	26	investors	investor	NOUN
ftr-493	796	27	.	.	PUNCT
ftr-493	797	1	in	in	ADP
ftr-493	797	2	the	the	DET
ftr-493	797	3	case	case	NOUN
ftr-493	797	4	of	of	ADP
ftr-493	797	5	the	the	DET
ftr-493	797	6	merrill	merrill	PROPN
ftr-493	797	7	lynch	lynch	PROPN
ftr-493	797	8	product	product	NOUN
ftr-493	797	9	,	,	PUNCT
ftr-493	797	10	that	that	DET
ftr-493	797	11	goal	goal	NOUN
ftr-493	797	12	means	mean	VERB
ftr-493	797	13	that	that	SCONJ
ftr-493	797	14	the	the	DET
ftr-493	797	15	full	full	ADJ
ftr-493	797	16	amount	amount	NOUN
ftr-493	797	17	of	of	ADP
ftr-493	797	18	the	the	DET
ftr-493	797	19	drd	drd	NOUN
ftr-493	797	20	available	available	ADJ
ftr-493	797	21	to	to	ADP
ftr-493	797	22	a	a	DET
ftr-493	797	23	corporation	corporation	NOUN
ftr-493	797	24	that	that	PRON
ftr-493	797	25	owned	own	VERB
ftr-493	797	26	the	the	DET
ftr-493	797	27	underlying	underlie	VERB
ftr-493	797	28	stocks	stock	NOUN
ftr-493	797	29	and	and	CCONJ
ftr-493	797	30	received	receive	VERB
ftr-493	797	31	dividends	dividend	NOUN
ftr-493	797	32	thereon	thereon	NOUN
ftr-493	797	33	directly	directly	ADV
ftr-493	797	34	should	should	AUX
ftr-493	797	35	be	be	AUX
ftr-493	797	36	available	available	ADJ
ftr-493	797	37	to	to	ADP
ftr-493	797	38	the	the	DET
ftr-493	797	39	certificate	certificate	NOUN
ftr-493	797	40	holders	holder	NOUN
ftr-493	797	41	collectively	collectively	ADV
ftr-493	797	42	,	,	PUNCT
ftr-493	797	43	without	without	ADP
ftr-493	797	44	diminution	diminution	NOUN
ftr-493	797	45	by	by	ADP
ftr-493	797	46	virtue	virtue	NOUN
ftr-493	797	47	of	of	ADP
ftr-493	797	48	the	the	DET
ftr-493	797	49	trust	trust	NOUN
ftr-493	797	50	structure	structure	NOUN
ftr-493	797	51	.	.	PUNCT
ftr-493	798	1	under	under	ADP
ftr-493	798	2	section	section	NOUN
ftr-493	798	3	704(b	704(b	PROPN
ftr-493	798	4	)	)	PUNCT
ftr-493	798	5	and	and	CCONJ
ftr-493	798	6	the	the	DET
ftr-493	798	7	regulations	regulation	NOUN
ftr-493	798	8	thereunder	thereunder	NOUN
ftr-493	798	9	,	,	PUNCT
ftr-493	798	10	this	this	PRON
ftr-493	798	11	seems	seem	VERB
ftr-493	798	12	to	to	PART
ftr-493	798	13	be	be	AUX
ftr-493	798	14	the	the	DET
ftr-493	798	15	case	case	NOUN
ftr-493	798	16	.	.	PUNCT
ftr-493	799	1	thus	thus	ADV
ftr-493	799	2	,	,	PUNCT
ftr-493	799	3	dividend	dividend	NOUN
ftr-493	799	4	income	income	NOUN
ftr-493	799	5	on	on	ADP
ftr-493	799	6	the	the	DET
ftr-493	799	7	underlying	underlie	VERB
ftr-493	799	8	stocks	stock	NOUN
ftr-493	799	9	would	would	AUX
ftr-493	799	10	be	be	AUX
ftr-493	799	11	allocated	allocate	VERB
ftr-493	799	12	between	between	ADP
ftr-493	799	13	and	and	CCONJ
ftr-493	799	14	among	among	ADP
ftr-493	799	15	the	the	DET
ftr-493	799	16	preferred	preferred	ADJ
ftr-493	799	17	certificate	certificate	NOUN
ftr-493	799	18	holders	holder	NOUN
ftr-493	799	19	and	and	CCONJ
ftr-493	799	20	the	the	DET
ftr-493	799	21	common	common	ADJ
ftr-493	799	22	certificate	certificate	NOUN
ftr-493	799	23	holders	holder	NOUN
ftr-493	799	24	,	,	PUNCT
ftr-493	799	25	based	base	VERB
ftr-493	799	26	on	on	ADP
ftr-493	799	27	each	each	DET
ftr-493	799	28	holder	holder	NOUN
ftr-493	799	29	's	's	PART
ftr-493	799	30	entitlement	entitlement	NOUN
ftr-493	799	31	to	to	ADP
ftr-493	799	32	the	the	DET
ftr-493	799	33	cash	cash	NOUN
ftr-493	799	34	attributable	attributable	ADJ
ftr-493	799	35	to	to	ADP
ftr-493	799	36	such	such	ADJ
ftr-493	799	37	income	income	NOUN
ftr-493	799	38	.	.	PUNCT
ftr-493	800	1	because	because	SCONJ
ftr-493	800	2	these	these	DET
ftr-493	800	3	allocations	allocation	NOUN
ftr-493	800	4	would	would	AUX
ftr-493	800	5	correlate	correlate	VERB
ftr-493	800	6	with	with	ADP
ftr-493	800	7	real	real	ADJ
ftr-493	800	8	entitlements	entitlement	NOUN
ftr-493	800	9	to	to	PART
ftr-493	800	10	cash	cash	NOUN
ftr-493	800	11	income	income	NOUN
ftr-493	800	12	,	,	PUNCT
ftr-493	800	13	they	they	PRON
ftr-493	800	14	should	should	AUX
ftr-493	800	15	have	have	VERB
ftr-493	800	16	"	"	PUNCT
ftr-493	800	17	substantial	substantial	ADJ
ftr-493	800	18	economic	economic	ADJ
ftr-493	800	19	effect	effect	NOUN
ftr-493	800	20	"	"	PUNCT
ftr-493	800	21	under	under	ADP
ftr-493	800	22	section	section	NOUN
ftr-493	800	23	704(b	704(b	PROPN
ftr-493	800	24	)	)	PUNCT
ftr-493	800	25	.	.	PUNCT
ftr-493	801	1	under	under	ADP
ftr-493	801	2	section	section	NOUN
ftr-493	801	3	702(b	702(b	PROPN
ftr-493	801	4	)	)	PUNCT
ftr-493	801	5	,	,	PUNCT
ftr-493	801	6	the	the	DET
ftr-493	801	7	"	"	PUNCT
ftr-493	801	8	dividend	dividend	NOUN
ftr-493	801	9	"	"	PUNCT
ftr-493	801	10	character	character	NOUN
ftr-493	801	11	of	of	ADP
ftr-493	801	12	this	this	DET
ftr-493	801	13	allocated	allocate	VERB
ftr-493	801	14	income	income	NOUN
ftr-493	801	15	would	would	AUX
ftr-493	801	16	flow	flow	VERB
ftr-493	801	17	through	through	ADP
ftr-493	801	18	to	to	ADP
ftr-493	801	19	the	the	DET
ftr-493	801	20	certificate	certificate	NOUN
ftr-493	801	21	holders	holder	NOUN
ftr-493	801	22	and	and	CCONJ
ftr-493	801	23	be	be	AUX
ftr-493	801	24	preserved	preserve	VERB
ftr-493	801	25	,	,	PUNCT
ftr-493	801	26	and	and	CCONJ
ftr-493	801	27	each	each	DET
ftr-493	801	28	certificate	certificate	NOUN
ftr-493	801	29	holder	holder	NOUN
ftr-493	801	30	would	would	AUX
ftr-493	801	31	be	be	AUX
ftr-493	801	32	able	able	ADJ
ftr-493	801	33	to	to	PART
ftr-493	801	34	claim	claim	VERB
ftr-493	801	35	a	a	DET
ftr-493	801	36	drd	drd	NOUN
ftr-493	801	37	with	with	ADP
ftr-493	801	38	respect	respect	NOUN
ftr-493	801	39	to	to	ADP
ftr-493	801	40	its	its	PRON
ftr-493	801	41	allocable	allocable	ADJ
ftr-493	801	42	share	share	NOUN
ftr-493	801	43	of	of	ADP
ftr-493	801	44	the	the	DET
ftr-493	801	45	dividend	dividend	NOUN
ftr-493	801	46	income	income	NOUN
ftr-493	801	47	to	to	ADP
ftr-493	801	48	the	the	DET
ftr-493	801	49	same	same	ADJ
ftr-493	801	50	extent	extent	NOUN
ftr-493	801	51	as	as	SCONJ
ftr-493	801	52	if	if	SCONJ
ftr-493	801	53	it	it	PRON
ftr-493	801	54	had	have	AUX
ftr-493	801	55	realized	realize	VERB
ftr-493	801	56	such	such	ADJ
ftr-493	801	57	income	income	NOUN
ftr-493	801	58	directly	directly	ADV
ftr-493	801	59	,	,	PUNCT
ftr-493	801	60	rather	rather	ADV
ftr-493	801	61	than	than	ADP
ftr-493	801	62	through	through	ADP
ftr-493	801	63	the	the	DET
ftr-493	801	64	intermediation	intermediation	NOUN
ftr-493	801	65	of	of	ADP
ftr-493	801	66	the	the	DET
ftr-493	801	67	trustthus	trustthus	NOUN
ftr-493	801	68	,	,	PUNCT
ftr-493	801	69	without	without	ADP
ftr-493	801	70	regard	regard	NOUN
ftr-493	801	71	to	to	ADP
ftr-493	801	72	any	any	DET
ftr-493	801	73	particular	particular	ADJ
ftr-493	801	74	certificate	certificate	NOUN
ftr-493	801	75	holder	holder	NOUN
ftr-493	801	76	's	's	PART
ftr-493	801	77	tax	tax	NOUN
ftr-493	801	78	position	position	NOUN
ftr-493	801	79	,	,	PUNCT
ftr-493	801	80	the	the	DET
ftr-493	801	81	aggregate	aggregate	ADJ
ftr-493	801	82	drd	drd	NOUN
ftr-493	801	83	available	available	ADJ
ftr-493	801	84	to	to	ADP
ftr-493	801	85	the	the	DET
ftr-493	801	86	certificate	certificate	NOUN
ftr-493	801	87	holders	holder	NOUN
ftr-493	801	88	would	would	AUX
ftr-493	801	89	be	be	AUX
ftr-493	801	90	the	the	DET
ftr-493	801	91	same	same	ADJ
ftr-493	801	92	as	as	SCONJ
ftr-493	801	93	if	if	SCONJ
ftr-493	801	94	a	a	DET
ftr-493	801	95	single	single	ADJ
ftr-493	801	96	corporate	corporate	ADJ
ftr-493	801	97	investor	investor	NOUN
ftr-493	801	98	held	hold	VERB
ftr-493	801	99	the	the	DET
ftr-493	801	100	underlying	underlie	VERB
ftr-493	801	101	stock	stock	NOUN
ftr-493	801	102	directly	directly	ADV
ftr-493	801	103	.	.	PUNCT
ftr-493	802	1	there	there	PRON
ftr-493	802	2	are	be	VERB
ftr-493	802	3	two	two	NUM
ftr-493	802	4	potential	potential	ADJ
ftr-493	802	5	challenges	challenge	NOUN
ftr-493	802	6	to	to	ADP
ftr-493	802	7	this	this	DET
ftr-493	802	8	conclusion	conclusion	NOUN
ftr-493	802	9	.	.	PUNCT
ftr-493	803	1	first	first	ADV
ftr-493	803	2	,	,	PUNCT
ftr-493	803	3	based	base	VERB
ftr-493	803	4	on	on	ADP
ftr-493	803	5	the	the	DET
ftr-493	803	6	subordination	subordination	NOUN
ftr-493	803	7	of	of	ADP
ftr-493	803	8	the	the	DET
ftr-493	803	9	common	common	ADJ
ftr-493	803	10	certificates	certificate	NOUN
ftr-493	803	11	to	to	ADP
ftr-493	803	12	the	the	DET
ftr-493	803	13	preferred	prefer	VERB
ftr-493	803	14	certificates	certificate	NOUN
ftr-493	803	15	,	,	PUNCT
ftr-493	803	16	the	the	DET
ftr-493	803	17	service	service	NOUN
ftr-493	803	18	might	might	AUX
ftr-493	803	19	attempt	attempt	VERB
ftr-493	803	20	to	to	PART
ftr-493	803	21	recharacterize	recharacterize	VERB
ftr-493	803	22	the	the	DET
ftr-493	803	23	preferred	prefer	VERB
ftr-493	803	24	certificates	certificate	NOUN
ftr-493	803	25	as	as	ADP
ftr-493	803	26	debt	debt	NOUN
ftr-493	803	27	for	for	ADP
ftr-493	803	28	tax	tax	NOUN
ftr-493	803	29	purposes	purpose	NOUN
ftr-493	803	30	.	.	PUNCT
ftr-493	804	1	in	in	ADP
ftr-493	804	2	such	such	ADJ
ftr-493	804	3	case	case	NOUN
ftr-493	804	4	,	,	PUNCT
ftr-493	804	5	(	(	PUNCT
ftr-493	804	6	i	i	NOUN
ftr-493	804	7	)	)	PUNCT
ftr-493	804	8	the	the	DET
ftr-493	804	9	return	return	NOUN
ftr-493	804	10	on	on	ADP
ftr-493	804	11	the	the	DET
ftr-493	804	12	preferred	preferred	ADJ
ftr-493	804	13	certificates	certificate	NOUN
ftr-493	804	14	would	would	AUX
ftr-493	804	15	constitute	constitute	VERB
ftr-493	804	16	interest	interest	NOUN
ftr-493	804	17	and	and	CCONJ
ftr-493	804	18	therefore	therefore	ADV
ftr-493	804	19	not	not	PART
ftr-493	804	20	be	be	AUX
ftr-493	804	21	eligible	eligible	ADJ
ftr-493	804	22	for	for	ADP
ftr-493	804	23	the	the	DET
ftr-493	804	24	drd	drd	NOUN
ftr-493	804	25	and	and	CCONJ
ftr-493	804	26	(	(	PUNCT
ftr-493	804	27	ii	ii	PROPN
ftr-493	804	28	)	)	PUNCT
ftr-493	804	29	the	the	DET
ftr-493	804	30	"	"	PUNCT
ftr-493	804	31	debt	debt	NOUN
ftr-493	804	32	-	-	PUNCT
ftr-493	804	33	financed	finance	VERB
ftr-493	804	34	portfolio	portfolio	NOUN
ftr-493	804	35	stock	stock	NOUN
ftr-493	804	36	"	"	PUNCT
ftr-493	804	37	rules	rule	NOUN
ftr-493	804	38	of	of	ADP
ftr-493	804	39	section	section	NOUN
ftr-493	804	40	246a	246a	NOUN
ftr-493	804	41	"	"	PUNCT
ftr-493	804	42	'	'	PUNCT
ftr-493	804	43	would	would	AUX
ftr-493	804	44	apply	apply	VERB
ftr-493	804	45	,	,	PUNCT
ftr-493	804	46	thereby	thereby	ADV
ftr-493	804	47	potentially	potentially	ADV
ftr-493	804	48	disallowing	disallow	VERB
ftr-493	804	49	a	a	DET
ftr-493	804	50	portion	portion	NOUN
ftr-493	804	51	of	of	ADP
ftr-493	804	52	the	the	DET
ftr-493	804	53	drd	drd	NOUN
ftr-493	804	54	to	to	PART
ftr-493	804	55	which	which	PRON
ftr-493	804	56	the	the	DET
ftr-493	804	57	common	common	ADJ
ftr-493	804	58	certificate	certificate	NOUN
ftr-493	804	59	holders	holder	NOUN
ftr-493	804	60	would	would	AUX
ftr-493	804	61	otherwise	otherwise	ADV
ftr-493	804	62	be	be	AUX
ftr-493	804	63	entitled	entitle	VERB
ftr-493	804	64	.	.	PUNCT
ftr-493	805	1	"	"	PUNCT
ftr-493	805	2	'	'	PUNCT
ftr-493	805	3	alternatively	alternatively	ADV
ftr-493	805	4	,	,	PUNCT
ftr-493	805	5	the	the	DET
ftr-493	805	6	service	service	NOUN
ftr-493	805	7	110	110	NUM
ftr-493	805	8	.	.	PUNCT
ftr-493	806	1	section	section	NOUN
ftr-493	806	2	246a	246a	PROPN
ftr-493	806	3	is	be	AUX
ftr-493	806	4	another	another	DET
ftr-493	806	5	anti	anti	ADJ
ftr-493	806	6	-	-	ADJ
ftr-493	806	7	abuse	abuse	ADJ
ftr-493	806	8	provision	provision	NOUN
ftr-493	806	9	--	--	PUNCT
ftr-493	806	10	this	this	DET
ftr-493	806	11	one	one	NOUN
ftr-493	806	12	dealing	deal	VERB
ftr-493	806	13	with	with	ADP
ftr-493	806	14	the	the	DET
ftr-493	806	15	leveraged	leverage	VERB
ftr-493	806	16	acquisition	acquisition	NOUN
ftr-493	806	17	of	of	ADP
ftr-493	806	18	dividend	dividend	NOUN
ftr-493	806	19	-	-	PUNCT
ftr-493	806	20	paying	pay	VERB
ftr-493	806	21	stock	stock	NOUN
ftr-493	806	22	.	.	PUNCT
ftr-493	807	1	section	section	NOUN
ftr-493	807	2	246a	246a	PROPN
ftr-493	807	3	is	be	AUX
ftr-493	807	4	designed	design	VERB
ftr-493	807	5	to	to	PART
ftr-493	807	6	eliminate	eliminate	VERB
ftr-493	807	7	the	the	DET
ftr-493	807	8	tax	tax	NOUN
ftr-493	807	9	arbitrage	arbitrage	NOUN
ftr-493	807	10	that	that	PRON
ftr-493	807	11	would	would	AUX
ftr-493	807	12	otherwise	otherwise	ADV
ftr-493	807	13	exist	exist	VERB
ftr-493	807	14	through	through	ADP
ftr-493	807	15	the	the	DET
ftr-493	807	16	conjunction	conjunction	NOUN
ftr-493	807	17	of	of	ADP
ftr-493	807	18	the	the	DET
ftr-493	807	19	receipt	receipt	NOUN
ftr-493	807	20	of	of	ADP
ftr-493	807	21	dividend	dividend	NOUN
ftr-493	807	22	income	income	NOUN
ftr-493	807	23	eligible	eligible	ADJ
ftr-493	807	24	for	for	ADP
ftr-493	807	25	the	the	DET
ftr-493	807	26	drd	drd	NOUN
ftr-493	807	27	and	and	CCONJ
ftr-493	807	28	the	the	DET
ftr-493	807	29	deduction	deduction	NOUN
ftr-493	807	30	against	against	ADP
ftr-493	807	31	ordinary	ordinary	ADJ
ftr-493	807	32	income	income	NOUN
ftr-493	807	33	of	of	ADP
ftr-493	807	34	offsetting	offset	VERB
ftr-493	807	35	interest	interest	NOUN
ftr-493	807	36	expense	expense	NOUN
ftr-493	807	37	.	.	PUNCT
ftr-493	808	1	111	111	NUM
ftr-493	808	2	.	.	PUNCT
ftr-493	809	1	under	under	ADP
ftr-493	809	2	this	this	DET
ftr-493	809	3	analysis	analysis	NOUN
ftr-493	809	4	,	,	PUNCT
ftr-493	809	5	the	the	DET
ftr-493	809	6	common	common	ADJ
ftr-493	809	7	certificate	certificate	NOUN
ftr-493	809	8	holders	holder	NOUN
ftr-493	809	9	would	would	AUX
ftr-493	809	10	be	be	AUX
ftr-493	809	11	required	require	VERB
ftr-493	809	12	to	to	PART
ftr-493	809	13	include	include	VERB
ftr-493	809	14	100	100	NUM
ftr-493	809	15	%	%	NOUN
ftr-493	809	16	of	of	ADP
ftr-493	809	17	the	the	DET
ftr-493	809	18	dividend	dividend	NOUN
ftr-493	809	19	income	income	NOUN
ftr-493	809	20	on	on	ADP
ftr-493	809	21	the	the	DET
ftr-493	809	22	underlying	underlie	VERB
ftr-493	809	23	stocks	stock	NOUN
ftr-493	809	24	in	in	ADP
ftr-493	809	25	taxable	taxable	ADJ
ftr-493	809	26	income	income	NOUN
ftr-493	809	27	,	,	PUNCT
ftr-493	809	28	would	would	AUX
ftr-493	809	29	be	be	AUX
ftr-493	809	30	entitled	entitle	VERB
ftr-493	809	31	to	to	ADP
ftr-493	809	32	a	a	DET
ftr-493	809	33	deduction	deduction	NOUN
ftr-493	809	34	for	for	ADP
ftr-493	809	35	"	"	PUNCT
ftr-493	809	36	interest	interest	NOUN
ftr-493	809	37	"	"	PUNCT
ftr-493	809	38	payable	payable	ADJ
ftr-493	809	39	on	on	ADP
ftr-493	809	40	the	the	DET
ftr-493	809	41	preferred	preferred	ADJ
ftr-493	809	42	certificates	certificate	NOUN
ftr-493	809	43	,	,	PUNCT
ftr-493	809	44	and	and	CCONJ
ftr-493	809	45	would	would	AUX
ftr-493	809	46	be	be	AUX
ftr-493	809	47	entitled	entitle	VERB
ftr-493	809	48	to	to	ADP
ftr-493	809	49	a	a	DET
ftr-493	809	50	drd	drd	NOUN
ftr-493	809	51	only	only	ADV
ftr-493	809	52	to	to	ADP
ftr-493	809	53	the	the	DET
ftr-493	809	54	extent	extent	NOUN
ftr-493	809	55	provided	provide	VERB
ftr-493	809	56	in	in	ADP
ftr-493	809	57	section	section	NOUN
ftr-493	809	58	246a	246a	NOUN
ftr-493	809	59	.	.	PUNCT
ftr-493	810	1	until	until	SCONJ
ftr-493	810	2	regulations	regulation	NOUN
ftr-493	810	3	are	be	AUX
ftr-493	810	4	issued	issue	VERB
ftr-493	810	5	under	under	ADP
ftr-493	810	6	section	section	NOUN
ftr-493	810	7	246a(e	246a(e	NUM
ftr-493	810	8	)	)	PUNCT
ftr-493	810	9	,	,	PUNCT
ftr-493	810	10	the	the	DET
ftr-493	810	11	common	common	ADJ
ftr-493	810	12	certificate	certificate	NOUN
ftr-493	810	13	holder	holder	NOUN
ftr-493	810	14	's	's	PART
ftr-493	810	15	drd	drd	NOUN
ftr-493	810	16	would	would	AUX
ftr-493	810	17	be	be	AUX
ftr-493	810	18	a	a	DET
ftr-493	810	19	function	function	NOUN
ftr-493	810	20	of	of	ADP
ftr-493	810	21	the	the	DET
ftr-493	810	22	relative	relative	ADJ
ftr-493	810	23	values	value	NOUN
ftr-493	810	24	of	of	ADP
ftr-493	810	25	the	the	DET
ftr-493	810	26	preferred	preferred	ADJ
ftr-493	810	27	and	and	CCONJ
ftr-493	810	28	common	common	ADJ
ftr-493	810	29	certificates	certificate	NOUN
ftr-493	810	30	at	at	ADP
ftr-493	810	31	the	the	DET
ftr-493	810	32	inception	inception	NOUN
ftr-493	810	33	of	of	ADP
ftr-493	810	34	the	the	DET
ftr-493	810	35	trust	trust	NOUN
ftr-493	810	36	,	,	PUNCT
ftr-493	810	37	and	and	CCONJ
ftr-493	810	38	not	not	PART
ftr-493	810	39	the	the	DET
ftr-493	810	40	relative	relative	ADJ
ftr-493	810	41	amounts	amount	NOUN
ftr-493	810	42	of	of	ADP
ftr-493	810	43	dividend	dividend	NOUN
ftr-493	810	44	income	income	NOUN
ftr-493	810	45	allocated	allocate	VERB
ftr-493	810	46	to	to	ADP
ftr-493	810	47	each	each	DET
ftr-493	810	48	class	class	NOUN
ftr-493	810	49	of	of	ADP
ftr-493	810	50	certificate	certificate	NOUN
ftr-493	810	51	holder	holder	NOUN
ftr-493	810	52	in	in	ADP
ftr-493	810	53	any	any	DET
ftr-493	810	54	given	give	VERB
ftr-493	810	55	period	period	NOUN
ftr-493	810	56	.	.	PUNCT
ftr-493	811	1	see	see	VERB
ftr-493	811	2	irc	irc	PROPN
ftr-493	811	3	§	§	PROPN
ftr-493	811	4	246a(a	246a(a	PROPN
ftr-493	811	5	)	)	PUNCT
ftr-493	811	6	,	,	PUNCT
ftr-493	811	7	(	(	PUNCT
ftr-493	811	8	d	d	NOUN
ftr-493	811	9	)	)	PUNCT
ftr-493	811	10	.	.	PUNCT
ftr-493	812	1	for	for	ADP
ftr-493	812	2	example	example	NOUN
ftr-493	812	3	,	,	PUNCT
ftr-493	812	4	if	if	SCONJ
ftr-493	812	5	the	the	DET
ftr-493	812	6	preferred	preferred	ADJ
ftr-493	812	7	certificates	certificate	NOUN
ftr-493	812	8	constituted	constitute	VERB
ftr-493	812	9	60	60	NUM
ftr-493	812	10	%	%	NOUN
ftr-493	812	11	of	of	ADP
ftr-493	812	12	the	the	DET
ftr-493	812	13	aggregate	aggregate	ADJ
ftr-493	812	14	value	value	NOUN
ftr-493	812	15	of	of	ADP
ftr-493	812	16	the	the	DET
ftr-493	812	17	certificates	certificate	NOUN
ftr-493	812	18	at	at	ADP
ftr-493	812	19	the	the	DET
ftr-493	812	20	beginning	beginning	NOUN
ftr-493	812	21	of	of	ADP
ftr-493	812	22	the	the	DET
ftr-493	812	23	transaction	transaction	NOUN
ftr-493	812	24	,	,	PUNCT
ftr-493	812	25	60	60	NUM
ftr-493	812	26	%	%	NOUN
ftr-493	812	27	of	of	ADP
ftr-493	812	28	the	the	DET
ftr-493	812	29	dividend	dividend	NOUN
ftr-493	812	30	income	income	NOUN
ftr-493	812	31	on	on	ADP
ftr-493	812	32	the	the	DET
ftr-493	812	33	underlying	underlie	VERB
ftr-493	812	34	stocks	stock	NOUN
ftr-493	812	35	would	would	AUX
ftr-493	812	36	be	be	AUX
ftr-493	812	37	ineligible	ineligible	ADJ
ftr-493	812	38	for	for	ADP
ftr-493	812	39	the	the	DET
ftr-493	812	40	drd	drd	NOUN
ftr-493	812	41	.	.	PUNCT
ftr-493	813	1	thus	thus	ADV
ftr-493	813	2	,	,	PUNCT
ftr-493	813	3	if	if	SCONJ
ftr-493	813	4	$	$	SYM
ftr-493	813	5	10	10	NUM
ftr-493	813	6	of	of	ADP
ftr-493	813	7	dividend	dividend	NOUN
ftr-493	813	8	income	income	NOUN
ftr-493	813	9	were	be	AUX
ftr-493	813	10	earned	earn	VERB
ftr-493	813	11	on	on	ADP
ftr-493	813	12	the	the	DET
ftr-493	813	13	underlying	underlie	VERB
ftr-493	813	14	stocks	stock	NOUN
ftr-493	813	15	,	,	PUNCT
ftr-493	813	16	$	$	SYM
ftr-493	813	17	4	4	NUM
ftr-493	813	18	of	of	ADP
ftr-493	813	19	which	which	PRON
ftr-493	813	20	were	be	AUX
ftr-493	813	21	allocable	allocable	ADJ
ftr-493	813	22	to	to	ADP
ftr-493	813	23	the	the	DET
ftr-493	813	24	preferred	preferred	ADJ
ftr-493	813	25	certificate	certificate	NOUN
ftr-493	813	26	holders	holder	NOUN
ftr-493	813	27	and	and	CCONJ
ftr-493	813	28	$	$	SYM
ftr-493	813	29	6	6	NUM
ftr-493	813	30	of	of	ADP
ftr-493	813	31	which	which	PRON
ftr-493	813	32	were	be	AUX
ftr-493	813	33	allocable	allocable	ADJ
ftr-493	813	34	to	to	ADP
ftr-493	813	35	the	the	DET
ftr-493	813	36	common	common	ADJ
ftr-493	813	37	certificate	certificate	NOUN
ftr-493	813	38	holders	holder	NOUN
ftr-493	813	39	,	,	PUNCT
ftr-493	813	40	the	the	DET
ftr-493	813	41	common	common	ADJ
ftr-493	813	42	19931	19931	NUM
ftr-493	813	43	florida	florida	PROPN
ftr-493	813	44	tax	tax	NOUN
ftr-493	813	45	review	review	NOUN
ftr-493	813	46	might	might	AUX
ftr-493	813	47	adduce	adduce	VERB
ftr-493	813	48	the	the	DET
ftr-493	813	49	subordination	subordination	NOUN
ftr-493	813	50	of	of	ADP
ftr-493	813	51	the	the	DET
ftr-493	813	52	common	common	ADJ
ftr-493	813	53	certificate	certificate	NOUN
ftr-493	813	54	holders	holder	NOUN
ftr-493	813	55	to	to	ADP
ftr-493	813	56	the	the	DET
ftr-493	813	57	preferred	preferred	ADJ
ftr-493	813	58	certificate	certificate	NOUN
ftr-493	813	59	holders	holder	NOUN
ftr-493	813	60	to	to	PART
ftr-493	813	61	support	support	VERB
ftr-493	813	62	the	the	DET
ftr-493	813	63	disallowance	disallowance	NOUN
ftr-493	813	64	of	of	ADP
ftr-493	813	65	the	the	DET
ftr-493	813	66	drd	drd	NOUN
ftr-493	813	67	with	with	ADP
ftr-493	813	68	respect	respect	NOUN
ftr-493	813	69	to	to	ADP
ftr-493	813	70	the	the	DET
ftr-493	813	71	preferred	preferred	ADJ
ftr-493	813	72	certificate	certificate	NOUN
ftr-493	813	73	holders	holder	NOUN
ftr-493	813	74	pursuant	pursuant	VERB
ftr-493	813	75	to	to	ADP
ftr-493	813	76	section	section	NOUN
ftr-493	813	77	246(c)(4)(c	246(c)(4)(c	PROPN
ftr-493	813	78	)	)	PUNCT
ftr-493	813	79	.	.	PUNCT
ftr-493	814	1	under	under	ADP
ftr-493	814	2	section	section	NOUN
ftr-493	814	3	246(c)(4)(c	246(c)(4)(c	PROPN
ftr-493	814	4	)	)	PUNCT
ftr-493	814	5	,	,	PUNCT
ftr-493	814	6	a	a	DET
ftr-493	814	7	taxpayer	taxpayer	NOUN
ftr-493	814	8	's	's	PART
ftr-493	814	9	holding	hold	VERB
ftr-493	814	10	period	period	NOUN
ftr-493	814	11	for	for	ADP
ftr-493	814	12	purposes	purpose	NOUN
ftr-493	814	13	of	of	ADP
ftr-493	814	14	satisfying	satisfy	VERB
ftr-493	814	15	the	the	DET
ftr-493	814	16	46	46	NUM
ftr-493	814	17	-	-	PUNCT
ftr-493	814	18	day	day	NOUN
ftr-493	814	19	holding	holding	NOUN
ftr-493	814	20	period	period	NOUN
ftr-493	814	21	requirement	requirement	NOUN
ftr-493	814	22	of	of	ADP
ftr-493	814	23	section	section	NOUN
ftr-493	814	24	246(c)(1)(a	246(c)(1)(a	NUM
ftr-493	814	25	)	)	PUNCT
ftr-493	814	26	is	be	AUX
ftr-493	814	27	tolled	toll	VERB
ftr-493	814	28	"	"	PUNCT
ftr-493	814	29	for	for	ADP
ftr-493	814	30	any	any	DET
ftr-493	814	31	period	period	NOUN
ftr-493	814	32	...	...	PUNCT
ftr-493	814	33	in	in	ADP
ftr-493	814	34	which	which	PRON
ftr-493	814	35	,	,	PUNCT
ftr-493	814	36	under	under	ADP
ftr-493	814	37	regulations	regulation	NOUN
ftr-493	814	38	prescribed	prescribe	VERB
ftr-493	814	39	by	by	ADP
ftr-493	814	40	the	the	DET
ftr-493	814	41	secretary	secretary	NOUN
ftr-493	814	42	,	,	PUNCT
ftr-493	814	43	a	a	DET
ftr-493	814	44	taxpayer	taxpayer	NOUN
ftr-493	814	45	has	have	AUX
ftr-493	814	46	diminished	diminish	VERB
ftr-493	814	47	his	his	PRON
ftr-493	814	48	risk	risk	NOUN
ftr-493	814	49	of	of	ADP
ftr-493	814	50	loss	loss	NOUN
ftr-493	814	51	by	by	ADP
ftr-493	814	52	holding	hold	VERB
ftr-493	814	53	1	1	NUM
ftr-493	814	54	or	or	CCONJ
ftr-493	814	55	more	more	ADJ
ftr-493	814	56	other	other	ADJ
ftr-493	814	57	positions	position	NOUN
ftr-493	814	58	with	with	ADP
ftr-493	814	59	respect	respect	NOUN
ftr-493	814	60	to	to	ADP
ftr-493	814	61	substantially	substantially	ADV
ftr-493	814	62	similar	similar	ADJ
ftr-493	814	63	or	or	CCONJ
ftr-493	814	64	related	related	ADJ
ftr-493	814	65	property	property	NOUN
ftr-493	814	66	.	.	PUNCT
ftr-493	814	67	"	"	PUNCT
ftr-493	815	1	if	if	SCONJ
ftr-493	815	2	section	section	NOUN
ftr-493	815	3	246(c)(1)(a	246(c)(1)(a	NUM
ftr-493	815	4	)	)	PUNCT
ftr-493	815	5	were	be	AUX
ftr-493	815	6	to	to	PART
ftr-493	815	7	apply	apply	VERB
ftr-493	815	8	to	to	ADP
ftr-493	815	9	the	the	DET
ftr-493	815	10	preferred	preferred	ADJ
ftr-493	815	11	certificate	certificate	NOUN
ftr-493	815	12	holders	holder	NOUN
ftr-493	815	13	,	,	PUNCT
ftr-493	815	14	their	their	PRON
ftr-493	815	15	holding	hold	VERB
ftr-493	815	16	period	period	NOUN
ftr-493	815	17	would	would	AUX
ftr-493	815	18	be	be	AUX
ftr-493	815	19	tolled	toll	VERB
ftr-493	815	20	at	at	ADP
ftr-493	815	21	the	the	DET
ftr-493	815	22	outset	outset	NOUN
ftr-493	815	23	and	and	CCONJ
ftr-493	815	24	they	they	PRON
ftr-493	815	25	would	would	AUX
ftr-493	815	26	therefore	therefore	ADV
ftr-493	815	27	not	not	PART
ftr-493	815	28	be	be	AUX
ftr-493	815	29	able	able	ADJ
ftr-493	815	30	to	to	PART
ftr-493	815	31	satisfy	satisfy	VERB
ftr-493	815	32	the	the	DET
ftr-493	815	33	46	46	NUM
ftr-493	815	34	-	-	PUNCT
ftr-493	815	35	day	day	NOUN
ftr-493	815	36	rule	rule	NOUN
ftr-493	815	37	.	.	PUNCT
ftr-493	816	1	there	there	PRON
ftr-493	816	2	are	be	VERB
ftr-493	816	3	a	a	DET
ftr-493	816	4	number	number	NOUN
ftr-493	816	5	of	of	ADP
ftr-493	816	6	responses	response	NOUN
ftr-493	816	7	to	to	ADP
ftr-493	816	8	any	any	DET
ftr-493	816	9	such	such	ADJ
ftr-493	816	10	possible	possible	ADJ
ftr-493	816	11	challenge	challenge	NOUN
ftr-493	816	12	by	by	ADP
ftr-493	816	13	the	the	DET
ftr-493	816	14	service	service	NOUN
ftr-493	816	15	.	.	PUNCT
ftr-493	817	1	first	first	ADV
ftr-493	817	2	,	,	PUNCT
ftr-493	817	3	while	while	SCONJ
ftr-493	817	4	there	there	PRON
ftr-493	817	5	are	be	VERB
ftr-493	817	6	a	a	DET
ftr-493	817	7	number	number	NOUN
ftr-493	817	8	of	of	ADP
ftr-493	817	9	cases	case	NOUN
ftr-493	817	10	holding	hold	VERB
ftr-493	817	11	that	that	SCONJ
ftr-493	817	12	obligations	obligation	NOUN
ftr-493	817	13	written	write	VERB
ftr-493	817	14	as	as	ADP
ftr-493	817	15	debt	debt	NOUN
ftr-493	817	16	should	should	AUX
ftr-493	817	17	be	be	AUX
ftr-493	817	18	treated	treat	VERB
ftr-493	817	19	as	as	ADP
ftr-493	817	20	equity	equity	NOUN
ftr-493	817	21	for	for	ADP
ftr-493	817	22	tax	tax	NOUN
ftr-493	817	23	purposes	purpose	NOUN
ftr-493	817	24	,	,	PUNCT
ftr-493	817	25	there	there	PRON
ftr-493	817	26	are	be	VERB
ftr-493	817	27	only	only	ADV
ftr-493	817	28	two	two	NUM
ftr-493	817	29	cases	case	NOUN
ftr-493	817	30	that	that	PRON
ftr-493	817	31	have	have	AUX
ftr-493	817	32	held	hold	VERB
ftr-493	817	33	the	the	DET
ftr-493	817	34	opposite	opposite	NOUN
ftr-493	817	35	.	.	PUNCT
ftr-493	817	36	"	"	PUNCT
ftr-493	818	1	2	2	NUM
ftr-493	818	2	while	while	SCONJ
ftr-493	818	3	the	the	DET
ftr-493	818	4	economic	economic	ADJ
ftr-493	818	5	differences	difference	NOUN
ftr-493	818	6	between	between	ADP
ftr-493	818	7	debt	debt	NOUN
ftr-493	818	8	and	and	CCONJ
ftr-493	818	9	preferred	preferred	ADJ
ftr-493	818	10	equity	equity	NOUN
ftr-493	818	11	may	may	AUX
ftr-493	818	12	be	be	AUX
ftr-493	818	13	slight	slight	ADJ
ftr-493	818	14	,	,	PUNCT
ftr-493	818	15	or	or	CCONJ
ftr-493	818	16	even	even	ADV
ftr-493	818	17	nonexistent	nonexistent	ADJ
ftr-493	818	18	in	in	ADP
ftr-493	818	19	certain	certain	ADJ
ftr-493	818	20	cases	case	NOUN
ftr-493	818	21	,	,	PUNCT
ftr-493	818	22	such	such	ADJ
ftr-493	818	23	as	as	ADP
ftr-493	818	24	that	that	PRON
ftr-493	818	25	of	of	ADP
ftr-493	818	26	an	an	DET
ftr-493	818	27	unleveraged	unleveraged	ADJ
ftr-493	818	28	,	,	PUNCT
ftr-493	818	29	purely	purely	ADV
ftr-493	818	30	passive	passive	ADJ
ftr-493	818	31	investment	investment	NOUN
ftr-493	818	32	vehicle	vehicle	NOUN
ftr-493	818	33	such	such	ADJ
ftr-493	818	34	as	as	ADP
ftr-493	818	35	the	the	DET
ftr-493	818	36	trust	trust	NOUN
ftr-493	818	37	,	,	PUNCT
ftr-493	818	38	the	the	DET
ftr-493	818	39	absence	absence	NOUN
ftr-493	818	40	of	of	ADP
ftr-493	818	41	a	a	DET
ftr-493	818	42	fixed	fix	VERB
ftr-493	818	43	maturity	maturity	NOUN
ftr-493	818	44	date	date	NOUN
ftr-493	818	45	and	and	CCONJ
ftr-493	818	46	creditor	creditor	NOUN
ftr-493	818	47	's	's	PART
ftr-493	818	48	rights	right	NOUN
ftr-493	818	49	in	in	ADP
ftr-493	818	50	bankruptcy	bankruptcy	NOUN
ftr-493	818	51	should	should	AUX
ftr-493	818	52	be	be	AUX
ftr-493	818	53	sufficient	sufficient	ADJ
ftr-493	818	54	to	to	PART
ftr-493	818	55	prevent	prevent	VERB
ftr-493	818	56	the	the	DET
ftr-493	818	57	preferred	prefer	VERB
ftr-493	818	58	certificates	certificate	NOUN
ftr-493	818	59	from	from	ADP
ftr-493	818	60	being	be	AUX
ftr-493	818	61	transmuted	transmute	VERB
ftr-493	818	62	into	into	ADP
ftr-493	818	63	debt	debt	NOUN
ftr-493	818	64	.	.	PUNCT
ftr-493	819	1	here	here	ADV
ftr-493	819	2	,	,	PUNCT
ftr-493	819	3	form	form	NOUN
ftr-493	819	4	and	and	CCONJ
ftr-493	819	5	substance	substance	NOUN
ftr-493	819	6	are	be	AUX
ftr-493	819	7	consistent	consistent	ADJ
ftr-493	819	8	.	.	PUNCT
ftr-493	820	1	certificate	certificate	NOUN
ftr-493	820	2	holders	holder	NOUN
ftr-493	820	3	would	would	AUX
ftr-493	820	4	have	have	VERB
ftr-493	820	5	net	net	ADJ
ftr-493	820	6	taxable	taxable	ADJ
ftr-493	820	7	income	income	NOUN
ftr-493	820	8	of	of	ADP
ftr-493	820	9	$	$	SYM
ftr-493	820	10	6	6	NUM
ftr-493	820	11	(	(	PUNCT
ftr-493	820	12	the	the	DET
ftr-493	820	13	same	same	ADJ
ftr-493	820	14	as	as	SCONJ
ftr-493	820	15	would	would	AUX
ftr-493	820	16	be	be	AUX
ftr-493	820	17	the	the	DET
ftr-493	820	18	case	case	NOUN
ftr-493	820	19	if	if	SCONJ
ftr-493	820	20	the	the	DET
ftr-493	820	21	preferred	preferred	ADJ
ftr-493	820	22	certificate	certificate	NOUN
ftr-493	820	23	holders	holder	NOUN
ftr-493	820	24	were	be	AUX
ftr-493	820	25	considered	consider	VERB
ftr-493	820	26	"	"	PUNCT
ftr-493	820	27	partners	partner	NOUN
ftr-493	820	28	,	,	PUNCT
ftr-493	820	29	"	"	PUNCT
ftr-493	820	30	rather	rather	ADV
ftr-493	820	31	than	than	ADP
ftr-493	820	32	lenders	lender	NOUN
ftr-493	820	33	)	)	PUNCT
ftr-493	820	34	,	,	PUNCT
ftr-493	820	35	but	but	CCONJ
ftr-493	820	36	only	only	ADV
ftr-493	820	37	40	40	NUM
ftr-493	820	38	%	%	NOUN
ftr-493	820	39	(	(	PUNCT
ftr-493	820	40	i.e.	i.e.	X
ftr-493	820	41	,	,	PUNCT
ftr-493	820	42	100	100	NUM
ftr-493	820	43	%	%	NOUN
ftr-493	820	44	minus	minus	ADP
ftr-493	820	45	60	60	NUM
ftr-493	820	46	%	%	NOUN
ftr-493	820	47	)	)	PUNCT
ftr-493	820	48	of	of	ADP
ftr-493	820	49	the	the	DET
ftr-493	820	50	$	$	SYM
ftr-493	820	51	10	10	NUM
ftr-493	820	52	of	of	ADP
ftr-493	820	53	dividend	dividend	NOUN
ftr-493	820	54	income	income	NOUN
ftr-493	820	55	,	,	PUNCT
ftr-493	820	56	or	or	CCONJ
ftr-493	820	57	$	$	SYM
ftr-493	820	58	4	4	NUM
ftr-493	820	59	,	,	PUNCT
ftr-493	820	60	would	would	AUX
ftr-493	820	61	be	be	AUX
ftr-493	820	62	eligible	eligible	ADJ
ftr-493	820	63	for	for	ADP
ftr-493	820	64	the	the	DET
ftr-493	820	65	drd	drd	NOUN
ftr-493	820	66	(	(	PUNCT
ftr-493	820	67	versus	versus	ADP
ftr-493	820	68	$	$	SYM
ftr-493	820	69	6	6	NUM
ftr-493	820	70	if	if	SCONJ
ftr-493	820	71	the	the	DET
ftr-493	820	72	preferred	preferred	ADJ
ftr-493	820	73	certificates	certificate	NOUN
ftr-493	820	74	were	be	AUX
ftr-493	820	75	not	not	PART
ftr-493	820	76	so	so	ADV
ftr-493	820	77	recharacterized	recharacterized	ADJ
ftr-493	820	78	)	)	PUNCT
ftr-493	820	79	.	.	PUNCT
ftr-493	821	1	thus	thus	ADV
ftr-493	821	2	,	,	PUNCT
ftr-493	821	3	assuming	assume	VERB
ftr-493	821	4	a	a	DET
ftr-493	821	5	70	70	NUM
ftr-493	821	6	%	%	NOUN
ftr-493	821	7	drd	drd	NOUN
ftr-493	821	8	,	,	PUNCT
ftr-493	821	9	the	the	DET
ftr-493	821	10	common	common	ADJ
ftr-493	821	11	certificate	certificate	NOUN
ftr-493	821	12	holders	holder	NOUN
ftr-493	821	13	would	would	AUX
ftr-493	821	14	be	be	AUX
ftr-493	821	15	entitled	entitle	VERB
ftr-493	821	16	to	to	ADP
ftr-493	821	17	$	$	SYM
ftr-493	821	18	2.80	2.80	NUM
ftr-493	821	19	of	of	ADP
ftr-493	821	20	deductions	deduction	NOUN
ftr-493	821	21	(	(	PUNCT
ftr-493	821	22	i.e.	i.e.	X
ftr-493	821	23	,	,	PUNCT
ftr-493	821	24	70	70	NUM
ftr-493	821	25	%	%	NOUN
ftr-493	821	26	of	of	ADP
ftr-493	821	27	$	$	SYM
ftr-493	821	28	4.00	4.00	NUM
ftr-493	821	29	)	)	PUNCT
ftr-493	821	30	,	,	PUNCT
ftr-493	821	31	rather	rather	ADV
ftr-493	821	32	than	than	ADP
ftr-493	821	33	the	the	DET
ftr-493	821	34	anticipated	anticipate	VERB
ftr-493	821	35	$	$	SYM
ftr-493	821	36	4.20	4.20	NUM
ftr-493	821	37	of	of	ADP
ftr-493	821	38	deductions	deduction	NOUN
ftr-493	821	39	(	(	PUNCT
ftr-493	821	40	i.e.	i.e.	X
ftr-493	821	41	,	,	PUNCT
ftr-493	821	42	70	70	NUM
ftr-493	821	43	%	%	NOUN
ftr-493	821	44	of	of	ADP
ftr-493	821	45	$	$	SYM
ftr-493	821	46	6.00	6.00	NUM
ftr-493	821	47	)	)	PUNCT
ftr-493	821	48	.	.	PUNCT
ftr-493	822	1	obviously	obviously	ADV
ftr-493	822	2	,	,	PUNCT
ftr-493	822	3	in	in	ADP
ftr-493	822	4	cases	case	NOUN
ftr-493	822	5	where	where	SCONJ
ftr-493	822	6	,	,	PUNCT
ftr-493	822	7	because	because	SCONJ
ftr-493	822	8	of	of	ADP
ftr-493	822	9	the	the	DET
ftr-493	822	10	level	level	NOUN
ftr-493	822	11	of	of	ADP
ftr-493	822	12	prevailing	prevail	VERB
ftr-493	822	13	money	money	NOUN
ftr-493	822	14	market	market	NOUN
ftr-493	822	15	interest	interest	NOUN
ftr-493	822	16	rates	rate	NOUN
ftr-493	822	17	,	,	PUNCT
ftr-493	822	18	the	the	DET
ftr-493	822	19	preferred	preferred	ADJ
ftr-493	822	20	certificate	certificate	NOUN
ftr-493	822	21	holders	holder	NOUN
ftr-493	822	22	were	be	AUX
ftr-493	822	23	entitled	entitle	VERB
ftr-493	822	24	to	to	ADP
ftr-493	822	25	more	more	ADJ
ftr-493	822	26	than	than	ADP
ftr-493	822	27	60	60	NUM
ftr-493	822	28	%	%	NOUN
ftr-493	822	29	of	of	ADP
ftr-493	822	30	the	the	DET
ftr-493	822	31	dividend	dividend	NOUN
ftr-493	822	32	income	income	NOUN
ftr-493	822	33	in	in	ADP
ftr-493	822	34	any	any	DET
ftr-493	822	35	period	period	NOUN
ftr-493	822	36	,	,	PUNCT
ftr-493	822	37	recharacterization	recharacterization	NOUN
ftr-493	822	38	of	of	ADP
ftr-493	822	39	the	the	DET
ftr-493	822	40	preferred	prefer	VERB
ftr-493	822	41	certificates	certificate	NOUN
ftr-493	822	42	as	as	ADP
ftr-493	822	43	debt	debt	NOUN
ftr-493	822	44	might	might	AUX
ftr-493	822	45	actually	actually	ADV
ftr-493	822	46	benefit	benefit	VERB
ftr-493	822	47	the	the	DET
ftr-493	822	48	common	common	ADJ
ftr-493	822	49	certificate	certificate	NOUN
ftr-493	822	50	holders	holder	NOUN
ftr-493	822	51	.	.	PUNCT
ftr-493	823	1	pursuant	pursuant	ADJ
ftr-493	823	2	to	to	ADP
ftr-493	823	3	section	section	NOUN
ftr-493	823	4	246a(e	246a(e	NUM
ftr-493	823	5	)	)	PUNCT
ftr-493	823	6	,	,	PUNCT
ftr-493	823	7	under	under	ADP
ftr-493	823	8	regulations	regulation	NOUN
ftr-493	823	9	,	,	PUNCT
ftr-493	823	10	none	none	NOUN
ftr-493	823	11	of	of	ADP
ftr-493	823	12	which	which	PRON
ftr-493	823	13	have	have	AUX
ftr-493	823	14	been	be	AUX
ftr-493	823	15	issued	issue	VERB
ftr-493	823	16	to	to	ADP
ftr-493	823	17	date	date	NOUN
ftr-493	823	18	,	,	PUNCT
ftr-493	823	19	the	the	DET
ftr-493	823	20	reduction	reduction	NOUN
ftr-493	823	21	in	in	ADP
ftr-493	823	22	the	the	DET
ftr-493	823	23	drd	drd	NOUN
ftr-493	823	24	under	under	ADP
ftr-493	823	25	section	section	NOUN
ftr-493	823	26	246a	246a	NOUN
ftr-493	823	27	can	can	AUX
ftr-493	823	28	not	not	PART
ftr-493	823	29	exceed	exceed	VERB
ftr-493	823	30	the	the	DET
ftr-493	823	31	amount	amount	NOUN
ftr-493	823	32	of	of	ADP
ftr-493	823	33	the	the	DET
ftr-493	823	34	interest	interest	NOUN
ftr-493	823	35	deductions	deduction	NOUN
ftr-493	823	36	allocable	allocable	ADJ
ftr-493	823	37	to	to	ADP
ftr-493	823	38	the	the	DET
ftr-493	823	39	dividend	dividend	NOUN
ftr-493	823	40	.	.	PUNCT
ftr-493	824	1	since	since	SCONJ
ftr-493	824	2	the	the	DET
ftr-493	824	3	reduction	reduction	NOUN
ftr-493	824	4	in	in	ADP
ftr-493	824	5	the	the	DET
ftr-493	824	6	example	example	NOUN
ftr-493	824	7	(	(	PUNCT
ftr-493	824	8	which	which	PRON
ftr-493	824	9	should	should	AUX
ftr-493	824	10	be	be	AUX
ftr-493	824	11	determined	determine	VERB
ftr-493	824	12	assuming	assume	VERB
ftr-493	824	13	that	that	SCONJ
ftr-493	824	14	the	the	DET
ftr-493	824	15	common	common	ADJ
ftr-493	824	16	certificate	certificate	NOUN
ftr-493	824	17	holders	holder	NOUN
ftr-493	824	18	would	would	AUX
ftr-493	824	19	otherwise	otherwise	ADV
ftr-493	824	20	be	be	AUX
ftr-493	824	21	entitled	entitle	VERB
ftr-493	824	22	to	to	ADP
ftr-493	824	23	a	a	DET
ftr-493	824	24	drd	drd	NOUN
ftr-493	824	25	with	with	ADP
ftr-493	824	26	respect	respect	NOUN
ftr-493	824	27	to	to	ADP
ftr-493	824	28	all	all	DET
ftr-493	824	29	$	$	SYM
ftr-493	824	30	10	10	NUM
ftr-493	824	31	of	of	ADP
ftr-493	824	32	dividend	dividend	NOUN
ftr-493	824	33	income	income	NOUN
ftr-493	824	34	)	)	PUNCT
ftr-493	824	35	is	be	AUX
ftr-493	824	36	$	$	SYM
ftr-493	824	37	7.00	7.00	NUM
ftr-493	824	38	(	(	PUNCT
ftr-493	824	39	i.e.	i.e.	X
ftr-493	824	40	,	,	PUNCT
ftr-493	824	41	70	70	NUM
ftr-493	824	42	%	%	NOUN
ftr-493	824	43	of	of	ADP
ftr-493	824	44	$	$	SYM
ftr-493	824	45	10	10	NUM
ftr-493	824	46	)	)	PUNCT
ftr-493	824	47	minus	minus	CCONJ
ftr-493	824	48	$	$	SYM
ftr-493	824	49	2.80	2.80	NUM
ftr-493	824	50	,	,	PUNCT
ftr-493	824	51	or	or	CCONJ
ftr-493	824	52	$	$	SYM
ftr-493	824	53	4.20	4.20	NUM
ftr-493	824	54	,	,	PUNCT
ftr-493	824	55	if	if	SCONJ
ftr-493	824	56	such	such	ADJ
ftr-493	824	57	regulations	regulation	NOUN
ftr-493	824	58	were	be	AUX
ftr-493	824	59	to	to	PART
ftr-493	824	60	be	be	AUX
ftr-493	824	61	issued	issue	VERB
ftr-493	824	62	the	the	DET
ftr-493	824	63	reduction	reduction	NOUN
ftr-493	824	64	in	in	ADP
ftr-493	824	65	the	the	DET
ftr-493	824	66	drd	drd	NOUN
ftr-493	824	67	would	would	AUX
ftr-493	824	68	be	be	AUX
ftr-493	824	69	limited	limit	VERB
ftr-493	824	70	to	to	ADP
ftr-493	824	71	$	$	SYM
ftr-493	824	72	4.00	4.00	NUM
ftr-493	824	73	(	(	PUNCT
ftr-493	824	74	i.e.	i.e.	X
ftr-493	824	75	,	,	PUNCT
ftr-493	824	76	the	the	DET
ftr-493	824	77	amount	amount	NOUN
ftr-493	824	78	of	of	ADP
ftr-493	824	79	the	the	DET
ftr-493	824	80	allocable	allocable	ADJ
ftr-493	824	81	"	"	PUNCT
ftr-493	824	82	interest	interest	NOUN
ftr-493	824	83	"	"	PUNCT
ftr-493	824	84	expense	expense	NOUN
ftr-493	824	85	)	)	PUNCT
ftr-493	824	86	,	,	PUNCT
ftr-493	824	87	resulting	result	VERB
ftr-493	824	88	in	in	ADP
ftr-493	824	89	a	a	DET
ftr-493	824	90	drd	drd	NOUN
ftr-493	824	91	for	for	ADP
ftr-493	824	92	the	the	DET
ftr-493	824	93	common	common	ADJ
ftr-493	824	94	certificate	certificate	NOUN
ftr-493	824	95	holders	holder	NOUN
ftr-493	824	96	of	of	ADP
ftr-493	824	97	$	$	SYM
ftr-493	824	98	3.00	3.00	NUM
ftr-493	824	99	.	.	PUNCT
ftr-493	825	1	this	this	PRON
ftr-493	825	2	is	be	AUX
ftr-493	825	3	still	still	ADV
ftr-493	825	4	less	less	ADJ
ftr-493	825	5	than	than	ADP
ftr-493	825	6	the	the	DET
ftr-493	825	7	$	$	SYM
ftr-493	825	8	4.20	4.20	NUM
ftr-493	825	9	of	of	ADP
ftr-493	825	10	deductions	deduction	NOUN
ftr-493	825	11	that	that	PRON
ftr-493	825	12	the	the	DET
ftr-493	825	13	common	common	ADJ
ftr-493	825	14	certificate	certificate	NOUN
ftr-493	825	15	holders	holder	NOUN
ftr-493	825	16	would	would	AUX
ftr-493	825	17	be	be	AUX
ftr-493	825	18	entitled	entitle	VERB
ftr-493	825	19	to	to	ADP
ftr-493	825	20	if	if	SCONJ
ftr-493	825	21	the	the	DET
ftr-493	825	22	form	form	NOUN
ftr-493	825	23	of	of	ADP
ftr-493	825	24	the	the	DET
ftr-493	825	25	transaction	transaction	NOUN
ftr-493	825	26	were	be	AUX
ftr-493	825	27	respected	respect	VERB
ftr-493	825	28	.	.	PUNCT
ftr-493	826	1	query	query	NOUN
ftr-493	826	2	whether	whether	SCONJ
ftr-493	826	3	section	section	NOUN
ftr-493	826	4	246a(e	246a(e	NUM
ftr-493	826	5	)	)	PUNCT
ftr-493	826	6	is	be	AUX
ftr-493	826	7	misdrafted	misdrafte	VERB
ftr-493	826	8	and	and	CCONJ
ftr-493	826	9	should	should	AUX
ftr-493	826	10	limit	limit	VERB
ftr-493	826	11	the	the	DET
ftr-493	826	12	reduction	reduction	NOUN
ftr-493	826	13	in	in	ADP
ftr-493	826	14	the	the	DET
ftr-493	826	15	amount	amount	NOUN
ftr-493	826	16	of	of	ADP
ftr-493	826	17	the	the	DET
ftr-493	826	18	dividend	dividend	NOUN
ftr-493	826	19	eligible	eligible	ADJ
ftr-493	826	20	for	for	ADP
ftr-493	826	21	the	the	DET
ftr-493	826	22	drd	drd	NOUN
ftr-493	826	23	(	(	PUNCT
ftr-493	826	24	i.e.	i.e.	X
ftr-493	826	25	,	,	PUNCT
ftr-493	826	26	60	60	NUM
ftr-493	826	27	%	%	NOUN
ftr-493	826	28	in	in	ADP
ftr-493	826	29	our	our	PRON
ftr-493	826	30	case	case	NOUN
ftr-493	826	31	)	)	PUNCT
ftr-493	826	32	,	,	PUNCT
ftr-493	826	33	rather	rather	ADV
ftr-493	826	34	than	than	ADP
ftr-493	826	35	the	the	DET
ftr-493	826	36	reduction	reduction	NOUN
ftr-493	826	37	in	in	ADP
ftr-493	826	38	the	the	DET
ftr-493	826	39	amount	amount	NOUN
ftr-493	826	40	of	of	ADP
ftr-493	826	41	the	the	DET
ftr-493	826	42	allowable	allowable	ADJ
ftr-493	826	43	drd	drd	NOUN
ftr-493	826	44	,	,	PUNCT
ftr-493	826	45	to	to	ADP
ftr-493	826	46	the	the	DET
ftr-493	826	47	amount	amount	NOUN
ftr-493	826	48	of	of	ADP
ftr-493	826	49	the	the	DET
ftr-493	826	50	allocable	allocable	ADJ
ftr-493	826	51	interest	interest	NOUN
ftr-493	826	52	expense	expense	NOUN
ftr-493	826	53	.	.	PUNCT
ftr-493	827	1	112	112	NUM
ftr-493	827	2	.	.	PUNCT
ftr-493	828	1	see	see	VERB
ftr-493	828	2	helvering	helvere	VERB
ftr-493	828	3	v.	v.	ADP
ftr-493	828	4	richmond	richmond	PROPN
ftr-493	828	5	,	,	PUNCT
ftr-493	828	6	fredericksburg	fredericksburg	PROPN
ftr-493	828	7	&	&	CCONJ
ftr-493	828	8	potomac	potomac	PROPN
ftr-493	828	9	r.r	r.r	PROPN
ftr-493	828	10	.	.	PROPN
ftr-493	828	11	co.	co.	PROPN
ftr-493	828	12	,	,	PUNCT
ftr-493	828	13	90	90	NUM
ftr-493	828	14	f.2d	f.2d	SYM
ftr-493	828	15	971	971	NUM
ftr-493	828	16	(	(	PUNCT
ftr-493	828	17	1937	1937	NUM
ftr-493	828	18	)	)	PUNCT
ftr-493	828	19	;	;	PUNCT
ftr-493	828	20	bolinger	bolinger	NOUN
ftr-493	828	21	-	-	PUNCT
ftr-493	828	22	franklin	franklin	PROPN
ftr-493	828	23	lumber	lumber	PROPN
ftr-493	828	24	co.	co.	PROPN
ftr-493	829	1	v.	v.	ADP
ftr-493	829	2	commissioner	commissioner	PROPN
ftr-493	829	3	,	,	PUNCT
ftr-493	829	4	7	7	NUM
ftr-493	829	5	b.t.a	b.t.a	NOUN
ftr-493	829	6	.	.	NOUN
ftr-493	830	1	402	402	NUM
ftr-493	830	2	(	(	PUNCT
ftr-493	830	3	1927	1927	NUM
ftr-493	830	4	)	)	PUNCT
ftr-493	830	5	,	,	PUNCT
ftr-493	830	6	acq	acq	PROPN
ftr-493	830	7	.	.	PROPN
ftr-493	830	8	vii-1	vii-1	PUNCT
ftr-493	830	9	c.b	c.b	PROPN
ftr-493	830	10	.	.	PROPN
ftr-493	830	11	4	4	NUM
ftr-493	830	12	1928	1928	NUM
ftr-493	830	13	.	.	PUNCT
ftr-493	831	1	[	[	X
ftr-493	831	2	vol	vol	NOUN
ftr-493	831	3	.	.	PUNCT
ftr-493	831	4	1:5	1:5	NUM
ftr-493	831	5	selected	select	VERB
ftr-493	831	6	issues	issue	NOUN
ftr-493	831	7	in	in	ADP
ftr-493	831	8	the	the	DET
ftr-493	831	9	taxation	taxation	NOUN
ftr-493	831	10	of	of	ADP
ftr-493	831	11	swaps	swap	NOUN
ftr-493	831	12	second	second	ADJ
ftr-493	831	13	,	,	PUNCT
ftr-493	831	14	section	section	NOUN
ftr-493	831	15	246(c)(4)(c	246(c)(4)(c	NUM
ftr-493	831	16	)	)	PUNCT
ftr-493	831	17	is	be	AUX
ftr-493	831	18	not	not	PART
ftr-493	831	19	self	self	NOUN
ftr-493	831	20	-	-	PUNCT
ftr-493	831	21	executing	executing	NOUN
ftr-493	831	22	;	;	PUNCT
ftr-493	831	23	it	it	PRON
ftr-493	831	24	requires	require	VERB
ftr-493	831	25	the	the	DET
ftr-493	831	26	issuance	issuance	NOUN
ftr-493	831	27	of	of	ADP
ftr-493	831	28	regulations	regulation	NOUN
ftr-493	831	29	and	and	CCONJ
ftr-493	831	30	no	no	DET
ftr-493	831	31	such	such	ADJ
ftr-493	831	32	regulations	regulation	NOUN
ftr-493	831	33	have	have	AUX
ftr-493	831	34	been	be	AUX
ftr-493	831	35	issued	issue	VERB
ftr-493	831	36	to	to	ADP
ftr-493	831	37	date	date	NOUN
ftr-493	831	38	.	.	PUNCT
ftr-493	832	1	furthermore	furthermore	ADV
ftr-493	832	2	,	,	PUNCT
ftr-493	832	3	the	the	DET
ftr-493	832	4	legislative	legislative	ADJ
ftr-493	832	5	history	history	NOUN
ftr-493	832	6	to	to	PART
ftr-493	832	7	section	section	VERB
ftr-493	832	8	246(c)(4)(c	246(c)(4)(c	PROPN
ftr-493	832	9	)	)	PUNCT
ftr-493	832	10	states	state	VERB
ftr-493	832	11	that	that	SCONJ
ftr-493	832	12	congress	congress	PROPN
ftr-493	832	13	anticipated	anticipate	VERB
ftr-493	832	14	that	that	SCONJ
ftr-493	832	15	,	,	PUNCT
ftr-493	832	16	except	except	SCONJ
ftr-493	832	17	in	in	ADP
ftr-493	832	18	very	very	ADV
ftr-493	832	19	limited	limited	ADJ
ftr-493	832	20	circumstances	circumstance	NOUN
ftr-493	832	21	not	not	PART
ftr-493	832	22	applicable	applicable	ADJ
ftr-493	832	23	to	to	ADP
ftr-493	832	24	our	our	PRON
ftr-493	832	25	facts	fact	NOUN
ftr-493	832	26	,	,	PUNCT
ftr-493	832	27	any	any	DET
ftr-493	832	28	such	such	ADJ
ftr-493	832	29	regulations	regulation	NOUN
ftr-493	832	30	would	would	AUX
ftr-493	832	31	generally	generally	ADV
ftr-493	832	32	have	have	VERB
ftr-493	832	33	prospective	prospective	ADJ
ftr-493	832	34	effect	effect	NOUN
ftr-493	832	35	only	only	ADV
ftr-493	832	36	(	(	PUNCT
ftr-493	832	37	i.e.	i.e.	X
ftr-493	832	38	,	,	PUNCT
ftr-493	832	39	most	most	ADJ
ftr-493	832	40	existing	exist	VERB
ftr-493	832	41	transactions	transaction	NOUN
ftr-493	832	42	would	would	AUX
ftr-493	832	43	be	be	AUX
ftr-493	832	44	grandfathered	grandfathere	VERB
ftr-493	832	45	)	)	PUNCT
ftr-493	832	46	.	.	PUNCT
ftr-493	832	47	"	"	PUNCT
ftr-493	833	1	t3	t3	PROPN
ftr-493	833	2	most	most	ADV
ftr-493	833	3	fundamentally	fundamentally	ADV
ftr-493	833	4	,	,	PUNCT
ftr-493	833	5	however	however	ADV
ftr-493	833	6	,	,	PUNCT
ftr-493	833	7	the	the	DET
ftr-493	833	8	transaction	transaction	NOUN
ftr-493	833	9	at	at	ADP
ftr-493	833	10	issue	issue	NOUN
ftr-493	833	11	here	here	ADV
ftr-493	833	12	is	be	AUX
ftr-493	833	13	simply	simply	ADV
ftr-493	833	14	not	not	PART
ftr-493	833	15	abusive	abusive	ADJ
ftr-493	833	16	.	.	PUNCT
ftr-493	834	1	sections	section	NOUN
ftr-493	834	2	246(c	246(c	PROPN
ftr-493	834	3	)	)	PUNCT
ftr-493	834	4	and	and	CCONJ
ftr-493	834	5	246a	246a	NOUN
ftr-493	834	6	were	be	AUX
ftr-493	834	7	designed	design	VERB
ftr-493	834	8	to	to	PART
ftr-493	834	9	stop	stop	VERB
ftr-493	834	10	tax	tax	NOUN
ftr-493	834	11	arbitrage	arbitrage	NOUN
ftr-493	834	12	schemes	scheme	NOUN
ftr-493	834	13	in	in	ADP
ftr-493	834	14	which	which	PRON
ftr-493	834	15	a	a	DET
ftr-493	834	16	corporate	corporate	ADJ
ftr-493	834	17	taxpayer	taxpayer	NOUN
ftr-493	834	18	was	be	AUX
ftr-493	834	19	able	able	ADJ
ftr-493	834	20	to	to	PART
ftr-493	834	21	convert	convert	VERB
ftr-493	834	22	non	non	ADJ
ftr-493	834	23	-	-	ADJ
ftr-493	834	24	dividend	dividend	ADJ
ftr-493	834	25	income	income	NOUN
ftr-493	834	26	into	into	ADP
ftr-493	834	27	dividend	dividend	NOUN
ftr-493	834	28	income	income	NOUN
ftr-493	834	29	eligible	eligible	ADJ
ftr-493	834	30	for	for	ADP
ftr-493	834	31	the	the	DET
ftr-493	834	32	drd	drd	NOUN
ftr-493	834	33	by	by	ADP
ftr-493	834	34	purchasing	purchase	VERB
ftr-493	834	35	dividendpaying	dividendpaye	VERB
ftr-493	834	36	stock	stock	NOUN
ftr-493	834	37	,	,	PUNCT
ftr-493	834	38	including	include	VERB
ftr-493	834	39	100	100	NUM
ftr-493	834	40	%	%	NOUN
ftr-493	834	41	of	of	ADP
ftr-493	834	42	the	the	DET
ftr-493	834	43	dividends	dividend	NOUN
ftr-493	834	44	received	receive	VERB
ftr-493	834	45	therein	therein	ADV
ftr-493	834	46	in	in	ADP
ftr-493	834	47	income	income	NOUN
ftr-493	834	48	(	(	PUNCT
ftr-493	834	49	and	and	CCONJ
ftr-493	834	50	taking	take	VERB
ftr-493	834	51	the	the	DET
ftr-493	834	52	drd	drd	NOUN
ftr-493	834	53	against	against	ADP
ftr-493	834	54	such	such	ADJ
ftr-493	834	55	income	income	NOUN
ftr-493	834	56	)	)	PUNCT
ftr-493	834	57	,	,	PUNCT
ftr-493	834	58	and	and	CCONJ
ftr-493	834	59	then	then	ADV
ftr-493	834	60	deducting	deduct	VERB
ftr-493	834	61	an	an	DET
ftr-493	834	62	offsetting	offset	VERB
ftr-493	834	63	loss	loss	NOUN
ftr-493	834	64	on	on	ADP
ftr-493	834	65	the	the	DET
ftr-493	834	66	sale	sale	NOUN
ftr-493	834	67	of	of	ADP
ftr-493	834	68	such	such	ADJ
ftr-493	834	69	stock	stock	NOUN
ftr-493	834	70	,	,	PUNCT
ftr-493	834	71	or	or	CCONJ
ftr-493	834	72	an	an	DET
ftr-493	834	73	interest	interest	NOUN
ftr-493	834	74	deduction	deduction	NOUN
ftr-493	834	75	with	with	ADP
ftr-493	834	76	respect	respect	NOUN
ftr-493	834	77	to	to	ADP
ftr-493	834	78	borrowings	borrowing	NOUN
ftr-493	834	79	incurred	incur	VERB
ftr-493	834	80	or	or	CCONJ
ftr-493	834	81	continued	continue	VERB
ftr-493	834	82	to	to	PART
ftr-493	834	83	acquire	acquire	VERB
ftr-493	834	84	or	or	CCONJ
ftr-493	834	85	carry	carry	VERB
ftr-493	834	86	such	such	ADJ
ftr-493	834	87	stock	stock	NOUN
ftr-493	834	88	,	,	PUNCT
ftr-493	834	89	against	against	ADP
ftr-493	834	90	nondividend	nondividend	NOUN
ftr-493	834	91	income.1	income.1	PROPN
ftr-493	834	92	4	4	NUM
ftr-493	834	93	in	in	ADP
ftr-493	834	94	the	the	DET
ftr-493	834	95	case	case	NOUN
ftr-493	834	96	of	of	ADP
ftr-493	834	97	the	the	DET
ftr-493	834	98	trust	trust	NOUN
ftr-493	834	99	,	,	PUNCT
ftr-493	834	100	however	however	ADV
ftr-493	834	101	,	,	PUNCT
ftr-493	834	102	no	no	DET
ftr-493	834	103	such	such	ADJ
ftr-493	834	104	tax	tax	NOUN
ftr-493	834	105	arbitrage	arbitrage	NOUN
ftr-493	834	106	potential	potential	NOUN
ftr-493	834	107	exists	exist	VERB
ftr-493	834	108	.	.	PUNCT
ftr-493	835	1	through	through	ADP
ftr-493	835	2	the	the	DET
ftr-493	835	3	section	section	NOUN
ftr-493	835	4	704(b	704(b	PROPN
ftr-493	835	5	)	)	PUNCT
ftr-493	835	6	allocation	allocation	NOUN
ftr-493	835	7	rules	rule	NOUN
ftr-493	835	8	,	,	PUNCT
ftr-493	835	9	neither	neither	CCONJ
ftr-493	835	10	the	the	DET
ftr-493	835	11	preferred	preferred	ADJ
ftr-493	835	12	nor	nor	CCONJ
ftr-493	835	13	the	the	DET
ftr-493	835	14	common	common	ADJ
ftr-493	835	15	certificate	certificate	NOUN
ftr-493	835	16	holders	holder	NOUN
ftr-493	835	17	are	be	AUX
ftr-493	835	18	entitled	entitle	VERB
ftr-493	835	19	to	to	PART
ftr-493	835	20	include	include	VERB
ftr-493	835	21	all	all	DET
ftr-493	835	22	the	the	DET
ftr-493	835	23	underlying	underlie	VERB
ftr-493	835	24	dividend	dividend	NOUN
ftr-493	835	25	income	income	NOUN
ftr-493	835	26	in	in	ADP
ftr-493	835	27	their	their	PRON
ftr-493	835	28	own	own	ADJ
ftr-493	835	29	incomes	income	NOUN
ftr-493	835	30	and	and	CCONJ
ftr-493	835	31	claim	claim	VERB
ftr-493	835	32	a	a	DET
ftr-493	835	33	"	"	PUNCT
ftr-493	835	34	deduction	deduction	NOUN
ftr-493	835	35	"	"	PUNCT
ftr-493	835	36	(	(	PUNCT
ftr-493	835	37	against	against	ADP
ftr-493	835	38	unrelated	unrelated	ADJ
ftr-493	835	39	income	income	NOUN
ftr-493	835	40	)	)	PUNCT
ftr-493	835	41	for	for	ADP
ftr-493	835	42	the	the	DET
ftr-493	835	43	portion	portion	NOUN
ftr-493	835	44	of	of	ADP
ftr-493	835	45	that	that	DET
ftr-493	835	46	income	income	NOUN
ftr-493	835	47	attributable	attributable	ADJ
ftr-493	835	48	to	to	ADP
ftr-493	835	49	the	the	DET
ftr-493	835	50	other	other	ADJ
ftr-493	835	51	class	class	NOUN
ftr-493	835	52	of	of	ADP
ftr-493	835	53	certificate	certificate	NOUN
ftr-493	835	54	holders	holder	NOUN
ftr-493	835	55	.	.	PUNCT
ftr-493	836	1	rather	rather	ADV
ftr-493	836	2	,	,	PUNCT
ftr-493	836	3	each	each	PRON
ftr-493	836	4	is	be	AUX
ftr-493	836	5	only	only	ADV
ftr-493	836	6	able	able	ADJ
ftr-493	836	7	to	to	PART
ftr-493	836	8	recognize	recognize	VERB
ftr-493	836	9	its	its	PRON
ftr-493	836	10	allocable	allocable	ADJ
ftr-493	836	11	share	share	NOUN
ftr-493	836	12	of	of	ADP
ftr-493	836	13	the	the	DET
ftr-493	836	14	dividend	dividend	NOUN
ftr-493	836	15	income	income	NOUN
ftr-493	836	16	,	,	PUNCT
ftr-493	836	17	and	and	CCONJ
ftr-493	836	18	no	no	DET
ftr-493	836	19	tax	tax	NOUN
ftr-493	836	20	arbitrage	arbitrage	NOUN
ftr-493	836	21	potential	potential	NOUN
ftr-493	836	22	exists	exist	VERB
ftr-493	836	23	.	.	PUNCT
ftr-493	836	24	"	"	PUNCT
ftr-493	837	1	5	5	NUM
ftr-493	837	2	iv	iv	NOUN
ftr-493	837	3	.	.	PUNCT
ftr-493	837	4	conclusion	conclusion	NOUN
ftr-493	837	5	swaps	swap	NOUN
ftr-493	837	6	and	and	CCONJ
ftr-493	837	7	structured	structure	VERB
ftr-493	837	8	finance	finance	NOUN
ftr-493	837	9	techniques	technique	NOUN
ftr-493	837	10	are	be	AUX
ftr-493	837	11	powerful	powerful	ADJ
ftr-493	837	12	tools	tool	NOUN
ftr-493	837	13	of	of	ADP
ftr-493	837	14	modem	modem	ADJ
ftr-493	837	15	corporate	corporate	ADJ
ftr-493	837	16	finance	finance	NOUN
ftr-493	837	17	.	.	PUNCT
ftr-493	838	1	the	the	DET
ftr-493	838	2	products	product	NOUN
ftr-493	838	3	analyzed	analyze	VERB
ftr-493	838	4	in	in	ADP
ftr-493	838	5	this	this	DET
ftr-493	838	6	article	article	NOUN
ftr-493	838	7	are	be	AUX
ftr-493	838	8	just	just	ADV
ftr-493	838	9	a	a	DET
ftr-493	838	10	small	small	ADJ
ftr-493	838	11	part	part	NOUN
ftr-493	838	12	of	of	ADP
ftr-493	838	13	the	the	DET
ftr-493	838	14	types	type	NOUN
ftr-493	838	15	of	of	ADP
ftr-493	838	16	products	product	NOUN
ftr-493	838	17	that	that	PRON
ftr-493	838	18	are	be	AUX
ftr-493	838	19	currently	currently	ADV
ftr-493	838	20	being	be	AUX
ftr-493	838	21	used	use	VERB
ftr-493	838	22	by	by	ADP
ftr-493	838	23	corporate	corporate	ADJ
ftr-493	838	24	treasurers	treasurer	NOUN
ftr-493	838	25	,	,	PUNCT
ftr-493	838	26	fund	fund	NOUN
ftr-493	838	27	managers	manager	NOUN
ftr-493	838	28	,	,	PUNCT
ftr-493	838	29	tax	tax	NOUN
ftr-493	838	30	-	-	PUNCT
ftr-493	838	31	exempt	exempt	ADJ
ftr-493	838	32	investors	investor	NOUN
ftr-493	838	33	,	,	PUNCT
ftr-493	838	34	and	and	CCONJ
ftr-493	838	35	other	other	ADJ
ftr-493	838	36	institutional	institutional	ADJ
ftr-493	838	37	investors	investor	NOUN
ftr-493	838	38	and	and	CCONJ
ftr-493	838	39	liability	liability	NOUN
ftr-493	838	40	managers	manager	NOUN
ftr-493	838	41	.	.	PUNCT
ftr-493	839	1	nevertheless	nevertheless	ADV
ftr-493	839	2	,	,	PUNCT
ftr-493	839	3	as	as	SCONJ
ftr-493	839	4	the	the	DET
ftr-493	839	5	discussion	discussion	NOUN
ftr-493	839	6	herein	herein	NOUN
ftr-493	839	7	hopefully	hopefully	ADV
ftr-493	839	8	suggests	suggest	VERB
ftr-493	839	9	,	,	PUNCT
ftr-493	839	10	113	113	NUM
ftr-493	839	11	.	.	PUNCT
ftr-493	839	12	h.r	h.r	PROPN
ftr-493	839	13	.	.	PROPN
ftr-493	839	14	conf	conf	PROPN
ftr-493	839	15	.	.	PUNCT
ftr-493	840	1	rep	rep	PROPN
ftr-493	840	2	no	no	PROPN
ftr-493	840	3	.	.	PROPN
ftr-493	840	4	861	861	NUM
ftr-493	840	5	,	,	PUNCT
ftr-493	840	6	98th	98th	ADJ
ftr-493	840	7	cong	cong	NOUN
ftr-493	840	8	..	..	PUNCT
ftr-493	840	9	2d	2d	NUM
ftr-493	840	10	sess	sess	NOUN
ftr-493	840	11	.	.	PUNCT
ftr-493	841	1	818	818	NUM
ftr-493	841	2	(	(	PUNCT
ftr-493	841	3	1984	1984	NUM
ftr-493	841	4	)	)	PUNCT
ftr-493	841	5	.	.	PUNCT
ftr-493	842	1	of	of	ADP
ftr-493	842	2	course	course	NOUN
ftr-493	842	3	,	,	PUNCT
ftr-493	842	4	the	the	DET
ftr-493	842	5	service	service	NOUN
ftr-493	842	6	might	might	AUX
ftr-493	842	7	attempt	attempt	VERB
ftr-493	842	8	to	to	PART
ftr-493	842	9	apply	apply	VERB
ftr-493	842	10	section	section	NOUN
ftr-493	842	11	246(c)(4)(a	246(c)(4)(a	NUM
ftr-493	842	12	)	)	PUNCT
ftr-493	842	13	or	or	CCONJ
ftr-493	842	14	(	(	PUNCT
ftr-493	842	15	c)(4)(b	c)(4)(b	X
ftr-493	842	16	)	)	PUNCT
ftr-493	842	17	,	,	PUNCT
ftr-493	842	18	both	both	PRON
ftr-493	842	19	of	of	ADP
ftr-493	842	20	which	which	PRON
ftr-493	842	21	are	be	AUX
ftr-493	842	22	selfexecuting	selfexecute	VERB
ftr-493	842	23	,	,	PUNCT
ftr-493	842	24	rather	rather	ADV
ftr-493	842	25	than	than	ADP
ftr-493	842	26	section	section	NOUN
ftr-493	842	27	246(c)(4)(c	246(c)(4)(c	PROPN
ftr-493	842	28	)	)	PUNCT
ftr-493	842	29	,	,	PUNCT
ftr-493	842	30	on	on	ADP
ftr-493	842	31	the	the	DET
ftr-493	842	32	ground	ground	NOUN
ftr-493	842	33	(	(	PUNCT
ftr-493	842	34	as	as	SCONJ
ftr-493	842	35	discussed	discuss	VERB
ftr-493	842	36	supra	supra	PROPN
ftr-493	842	37	note	note	NOUN
ftr-493	842	38	95	95	NUM
ftr-493	842	39	)	)	PUNCT
ftr-493	842	40	that	that	SCONJ
ftr-493	842	41	the	the	DET
ftr-493	842	42	preferred	preferred	ADJ
ftr-493	842	43	certificate	certificate	NOUN
ftr-493	842	44	holders	holder	NOUN
ftr-493	842	45	should	should	AUX
ftr-493	842	46	be	be	AUX
ftr-493	842	47	treated	treat	VERB
ftr-493	842	48	as	as	ADP
ftr-493	842	49	the	the	DET
ftr-493	842	50	owners	owner	NOUN
ftr-493	842	51	of	of	ADP
ftr-493	842	52	the	the	DET
ftr-493	842	53	underlying	underlie	VERB
ftr-493	842	54	stock	stock	NOUN
ftr-493	842	55	,	,	PUNCT
ftr-493	842	56	and	and	CCONJ
ftr-493	842	57	as	as	ADP
ftr-493	842	58	having	having	AUX
ftr-493	842	59	purchased	purchase	VERB
ftr-493	842	60	from	from	ADP
ftr-493	842	61	the	the	DET
ftr-493	842	62	common	common	ADJ
ftr-493	842	63	certificate	certificate	NOUN
ftr-493	842	64	holders	holder	NOUN
ftr-493	842	65	an	an	DET
ftr-493	842	66	option	option	NOUN
ftr-493	842	67	to	to	PART
ftr-493	842	68	sell	sell	VERB
ftr-493	842	69	the	the	DET
ftr-493	842	70	stock	stock	NOUN
ftr-493	842	71	and	and	CCONJ
ftr-493	842	72	as	as	ADP
ftr-493	842	73	having	having	AUX
ftr-493	842	74	granted	grant	VERB
ftr-493	842	75	to	to	ADP
ftr-493	842	76	the	the	DET
ftr-493	842	77	common	common	ADJ
ftr-493	842	78	certificate	certificate	NOUN
ftr-493	842	79	holders	holder	NOUN
ftr-493	842	80	an	an	DET
ftr-493	842	81	option	option	NOUN
ftr-493	842	82	to	to	PART
ftr-493	842	83	buy	buy	VERB
ftr-493	842	84	the	the	DET
ftr-493	842	85	stock	stock	NOUN
ftr-493	842	86	.	.	PUNCT
ftr-493	843	1	as	as	SCONJ
ftr-493	843	2	noted	note	VERB
ftr-493	843	3	above	above	ADV
ftr-493	843	4	,	,	PUNCT
ftr-493	843	5	however	however	ADV
ftr-493	843	6	,	,	PUNCT
ftr-493	843	7	such	such	DET
ftr-493	843	8	an	an	DET
ftr-493	843	9	analysis	analysis	NOUN
ftr-493	843	10	seems	seem	VERB
ftr-493	843	11	strained	strain	VERB
ftr-493	843	12	.	.	PUNCT
ftr-493	844	1	114	114	NUM
ftr-493	844	2	.	.	PUNCT
ftr-493	845	1	see	see	VERB
ftr-493	845	2	h.r	h.r	PROPN
ftr-493	845	3	.	.	PROPN
ftr-493	845	4	rep	rep	PROPN
ftr-493	845	5	.	.	PROPN
ftr-493	846	1	no	no	INTJ
ftr-493	846	2	.	.	PUNCT
ftr-493	847	1	775	775	NUM
ftr-493	847	2	,	,	PUNCT
ftr-493	847	3	supra	supra	PROPN
ftr-493	847	4	note	note	PROPN
ftr-493	847	5	66	66	NUM
ftr-493	847	6	;	;	PUNCT
ftr-493	847	7	h.r	h.r	PROPN
ftr-493	847	8	.	.	PROPN
ftr-493	847	9	rep	rep	PROPN
ftr-493	847	10	.	.	PROPN
ftr-493	848	1	no	no	INTJ
ftr-493	848	2	.	.	NOUN
ftr-493	849	1	432	432	NUM
ftr-493	849	2	.	.	PUNCT
ftr-493	850	1	supra	supra	PROPN
ftr-493	850	2	note	note	PROPN
ftr-493	850	3	35	35	NUM
ftr-493	850	4	.	.	NOUN
ftr-493	850	5	115	115	NUM
ftr-493	850	6	.	.	PUNCT
ftr-493	851	1	another	another	DET
ftr-493	851	2	way	way	NOUN
ftr-493	851	3	to	to	PART
ftr-493	851	4	view	view	VERB
ftr-493	851	5	this	this	PRON
ftr-493	851	6	is	be	AUX
ftr-493	851	7	that	that	SCONJ
ftr-493	851	8	each	each	DET
ftr-493	851	9	certificate	certificate	NOUN
ftr-493	851	10	holder	holder	NOUN
ftr-493	851	11	includes	include	VERB
ftr-493	851	12	100%7c	100%7c	NUM
ftr-493	851	13	of	of	ADP
ftr-493	851	14	the	the	DET
ftr-493	851	15	dividend	dividend	NOUN
ftr-493	851	16	income	income	NOUN
ftr-493	851	17	on	on	ADP
ftr-493	851	18	the	the	DET
ftr-493	851	19	underlying	underlie	VERB
ftr-493	851	20	stocks	stock	NOUN
ftr-493	851	21	in	in	ADP
ftr-493	851	22	its	its	PRON
ftr-493	851	23	own	own	ADJ
ftr-493	851	24	income	income	NOUN
ftr-493	851	25	,	,	PUNCT
ftr-493	851	26	but	but	CCONJ
ftr-493	851	27	then	then	ADV
ftr-493	851	28	is	be	AUX
ftr-493	851	29	allowed	allow	VERB
ftr-493	851	30	a	a	DET
ftr-493	851	31	deduction	deduction	NOUN
ftr-493	851	32	against	against	ADP
ftr-493	851	33	that	that	DET
ftr-493	851	34	dividend	dividend	NOUN
ftr-493	851	35	income	income	NOUN
ftr-493	851	36	for	for	ADP
ftr-493	851	37	the	the	DET
ftr-493	851	38	portion	portion	NOUN
ftr-493	851	39	of	of	ADP
ftr-493	851	40	the	the	DET
ftr-493	851	41	dividends	dividend	NOUN
ftr-493	851	42	paid	pay	VERB
ftr-493	851	43	out	out	ADP
ftr-493	851	44	to	to	ADP
ftr-493	851	45	the	the	DET
ftr-493	851	46	other	other	ADJ
ftr-493	851	47	certificate	certificate	NOUN
ftr-493	851	48	holders	holder	NOUN
ftr-493	851	49	.	.	PUNCT
ftr-493	852	1	because	because	SCONJ
ftr-493	852	2	this	this	DET
ftr-493	852	3	deduction	deduction	NOUN
ftr-493	852	4	is	be	AUX
ftr-493	852	5	against	against	ADP
ftr-493	852	6	dividend	dividend	NOUN
ftr-493	852	7	income	income	NOUN
ftr-493	852	8	,	,	PUNCT
ftr-493	852	9	and	and	CCONJ
ftr-493	852	10	not	not	PART
ftr-493	852	11	against	against	ADP
ftr-493	852	12	unrelated	unrelated	ADJ
ftr-493	852	13	nondividend	nondividend	NOUN
ftr-493	852	14	income	income	NOUN
ftr-493	852	15	,	,	PUNCT
ftr-493	852	16	no	no	DET
ftr-493	852	17	tax	tax	NOUN
ftr-493	852	18	arbitrage	arbitrage	NOUN
ftr-493	852	19	potential	potential	NOUN
ftr-493	852	20	exists	exist	VERB
ftr-493	852	21	.	.	PUNCT
ftr-493	853	1	1993j	1993j	PROPN
ftr-493	853	2	florida	florida	PROPN
ftr-493	853	3	tax	tax	NOUN
ftr-493	853	4	review	review	NOUN
ftr-493	853	5	while	while	SCONJ
ftr-493	853	6	many	many	ADJ
ftr-493	853	7	aspects	aspect	NOUN
ftr-493	853	8	of	of	ADP
ftr-493	853	9	the	the	DET
ftr-493	853	10	taxation	taxation	NOUN
ftr-493	853	11	of	of	ADP
ftr-493	853	12	these	these	DET
ftr-493	853	13	instruments	instrument	NOUN
ftr-493	853	14	are	be	AUX
ftr-493	853	15	well	well	ADV
ftr-493	853	16	-	-	PUNCT
ftr-493	853	17	settled	settle	VERB
ftr-493	853	18	under	under	ADP
ftr-493	853	19	current	current	ADJ
ftr-493	853	20	law	law	NOUN
ftr-493	853	21	,	,	PUNCT
ftr-493	853	22	many	many	ADJ
ftr-493	853	23	difficult	difficult	ADJ
ftr-493	853	24	questions	question	NOUN
ftr-493	853	25	remain	remain	VERB
ftr-493	853	26	.	.	PUNCT
ftr-493	854	1	the	the	DET
ftr-493	854	2	most	most	ADV
ftr-493	854	3	notable	notable	ADJ
ftr-493	854	4	of	of	ADP
ftr-493	854	5	these	these	PRON
ftr-493	854	6	are	be	AUX
ftr-493	854	7	normative	normative	ADJ
ftr-493	854	8	in	in	ADP
ftr-493	854	9	nature	nature	NOUN
ftr-493	854	10	.	.	PUNCT
ftr-493	855	1	should	should	AUX
ftr-493	855	2	one	one	PRON
ftr-493	855	3	be	be	AUX
ftr-493	855	4	able	able	ADJ
ftr-493	855	5	to	to	PART
ftr-493	855	6	deduct	deduct	VERB
ftr-493	855	7	payments	payment	NOUN
ftr-493	855	8	on	on	ADP
ftr-493	855	9	an	an	DET
ftr-493	855	10	interest	interest	NOUN
ftr-493	855	11	rate	rate	NOUN
ftr-493	855	12	swap	swap	NOUN
ftr-493	855	13	while	while	SCONJ
ftr-493	855	14	still	still	ADV
ftr-493	855	15	deferring	defer	VERB
ftr-493	855	16	market	market	NOUN
ftr-493	855	17	discount	discount	NOUN
ftr-493	855	18	on	on	ADP
ftr-493	855	19	an	an	DET
ftr-493	855	20	associated	associated	ADJ
ftr-493	855	21	market	market	NOUN
ftr-493	855	22	discount	discount	NOUN
ftr-493	855	23	bond	bond	NOUN
ftr-493	855	24	?	?	PUNCT
ftr-493	856	1	should	should	AUX
ftr-493	856	2	one	one	PRON
ftr-493	856	3	be	be	AUX
ftr-493	856	4	treated	treat	VERB
ftr-493	856	5	as	as	ADP
ftr-493	856	6	the	the	DET
ftr-493	856	7	owner	owner	NOUN
ftr-493	856	8	of	of	ADP
ftr-493	856	9	stock	stock	NOUN
ftr-493	856	10	if	if	SCONJ
ftr-493	856	11	she	she	PRON
ftr-493	856	12	has	have	AUX
ftr-493	856	13	traded	trade	VERB
ftr-493	856	14	away	away	ADV
ftr-493	856	15	the	the	DET
ftr-493	856	16	bulk	bulk	NOUN
ftr-493	856	17	of	of	ADP
ftr-493	856	18	the	the	DET
ftr-493	856	19	economics	economic	NOUN
ftr-493	856	20	of	of	ADP
ftr-493	856	21	that	that	DET
ftr-493	856	22	stock	stock	NOUN
ftr-493	856	23	by	by	ADP
ftr-493	856	24	entering	enter	VERB
ftr-493	856	25	into	into	ADP
ftr-493	856	26	an	an	DET
ftr-493	856	27	equity	equity	NOUN
ftr-493	856	28	swap	swap	NOUN
ftr-493	856	29	?	?	PUNCT
ftr-493	857	1	should	should	AUX
ftr-493	857	2	non	non	ADJ
ftr-493	857	3	-	-	ADJ
ftr-493	857	4	u.s	u.s	PROPN
ftr-493	857	5	.	.	PROPN
ftr-493	857	6	investors	investor	NOUN
ftr-493	857	7	be	be	VERB
ftr-493	857	8	able	able	ADJ
ftr-493	857	9	to	to	PART
ftr-493	857	10	avoid	avoid	VERB
ftr-493	857	11	u.s	u.s	PROPN
ftr-493	857	12	.	.	PROPN
ftr-493	857	13	withholding	withhold	VERB
ftr-493	857	14	taxes	taxis	NOUN
ftr-493	857	15	by	by	ADP
ftr-493	857	16	entering	enter	VERB
ftr-493	857	17	into	into	ADP
ftr-493	857	18	equity	equity	NOUN
ftr-493	857	19	swaps	swap	NOUN
ftr-493	857	20	in	in	ADP
ftr-493	857	21	lieu	lieu	NOUN
ftr-493	857	22	of	of	ADP
ftr-493	857	23	holding	hold	VERB
ftr-493	857	24	dividend	dividend	NOUN
ftr-493	857	25	-	-	PUNCT
ftr-493	857	26	paying	pay	VERB
ftr-493	857	27	stocks	stock	NOUN
ftr-493	857	28	of	of	ADP
ftr-493	857	29	u.s	u.s	PROPN
ftr-493	857	30	.	.	PROPN
ftr-493	857	31	issuers	issuer	NOUN
ftr-493	857	32	?	?	PUNCT
ftr-493	858	1	and	and	CCONJ
ftr-493	858	2	so	so	ADV
ftr-493	858	3	on	on	ADV
ftr-493	858	4	.	.	PUNCT
ftr-493	859	1	the	the	DET
ftr-493	859	2	answers	answer	NOUN
ftr-493	859	3	to	to	ADP
ftr-493	859	4	these	these	DET
ftr-493	859	5	questions	question	NOUN
ftr-493	859	6	ultimately	ultimately	ADV
ftr-493	859	7	turn	turn	VERB
ftr-493	859	8	on	on	ADP
ftr-493	859	9	some	some	PRON
ftr-493	859	10	of	of	ADP
ftr-493	859	11	the	the	DET
ftr-493	859	12	most	most	ADV
ftr-493	859	13	fundamental	fundamental	ADJ
ftr-493	859	14	aspects	aspect	NOUN
ftr-493	859	15	of	of	ADP
ftr-493	859	16	the	the	DET
ftr-493	859	17	tax	tax	NOUN
ftr-493	859	18	law	law	NOUN
ftr-493	859	19	,	,	PUNCT
ftr-493	859	20	on	on	ADP
ftr-493	859	21	questions	question	NOUN
ftr-493	859	22	about	about	ADP
ftr-493	859	23	the	the	DET
ftr-493	859	24	proper	proper	ADJ
ftr-493	859	25	scope	scope	NOUN
ftr-493	859	26	of	of	ADP
ftr-493	859	27	the	the	DET
ftr-493	859	28	realization	realization	NOUN
ftr-493	859	29	requirement	requirement	NOUN
ftr-493	859	30	,	,	PUNCT
ftr-493	859	31	on	on	ADP
ftr-493	859	32	what	what	PRON
ftr-493	859	33	constitutes	constitute	VERB
ftr-493	859	34	tax	tax	NOUN
ftr-493	859	35	arbitrage	arbitrage	NOUN
ftr-493	859	36	,	,	PUNCT
ftr-493	859	37	on	on	ADP
ftr-493	859	38	what	what	PRON
ftr-493	859	39	are	be	AUX
ftr-493	859	40	the	the	DET
ftr-493	859	41	contours	contours	NOUN
ftr-493	859	42	of	of	ADP
ftr-493	859	43	the	the	DET
ftr-493	859	44	principles	principle	NOUN
ftr-493	859	45	of	of	ADP
ftr-493	859	46	ownership	ownership	NOUN
ftr-493	859	47	of	of	ADP
ftr-493	859	48	assets	asset	NOUN
ftr-493	859	49	for	for	ADP
ftr-493	859	50	tax	tax	NOUN
ftr-493	859	51	purposes	purpose	NOUN
ftr-493	859	52	,	,	PUNCT
ftr-493	859	53	and	and	CCONJ
ftr-493	859	54	on	on	ADP
ftr-493	859	55	how	how	SCONJ
ftr-493	859	56	one	one	PRON
ftr-493	859	57	should	should	AUX
ftr-493	859	58	draw	draw	VERB
ftr-493	859	59	a	a	DET
ftr-493	859	60	principled	principled	ADJ
ftr-493	859	61	distinction	distinction	NOUN
ftr-493	859	62	between	between	ADP
ftr-493	859	63	debt	debt	NOUN
ftr-493	859	64	and	and	CCONJ
ftr-493	859	65	equity	equity	NOUN
ftr-493	859	66	in	in	ADP
ftr-493	859	67	an	an	DET
ftr-493	859	68	unintegrated	unintegrated	ADJ
ftr-493	859	69	corporate	corporate	ADJ
ftr-493	859	70	tax	tax	NOUN
ftr-493	859	71	system	system	NOUN
ftr-493	859	72	.	.	PUNCT
ftr-493	860	1	and	and	CCONJ
ftr-493	860	2	therein	therein	ADV
ftr-493	860	3	lies	lie	VERB
ftr-493	860	4	perhaps	perhaps	ADV
ftr-493	860	5	the	the	DET
ftr-493	860	6	most	most	ADV
ftr-493	860	7	surprising	surprising	ADJ
ftr-493	860	8	and	and	CCONJ
ftr-493	860	9	interesting	interesting	ADJ
ftr-493	860	10	aspect	aspect	NOUN
ftr-493	860	11	of	of	ADP
ftr-493	860	12	derivatives	derivative	NOUN
ftr-493	860	13	and	and	CCONJ
ftr-493	860	14	structured	structure	VERB
ftr-493	860	15	finance	finance	NOUN
ftr-493	860	16	legal	legal	ADJ
ftr-493	860	17	practice	practice	NOUN
ftr-493	860	18	:	:	PUNCT
ftr-493	860	19	in	in	ADP
ftr-493	860	20	a	a	DET
ftr-493	860	21	part	part	NOUN
ftr-493	860	22	of	of	ADP
ftr-493	860	23	the	the	DET
ftr-493	860	24	world	world	NOUN
ftr-493	860	25	full	full	ADJ
ftr-493	860	26	of	of	ADP
ftr-493	860	27	esoteric	esoteric	ADJ
ftr-493	860	28	transactions	transaction	NOUN
ftr-493	860	29	designed	design	VERB
ftr-493	860	30	to	to	PART
ftr-493	860	31	further	further	VERB
ftr-493	860	32	basic	basic	ADJ
ftr-493	860	33	economic	economic	ADJ
ftr-493	860	34	goals	goal	NOUN
ftr-493	860	35	of	of	ADP
ftr-493	860	36	main	main	ADJ
ftr-493	860	37	street	street	NOUN
ftr-493	860	38	and	and	CCONJ
ftr-493	860	39	wall	wall	PROPN
ftr-493	860	40	street	street	PROPN
ftr-493	860	41	america	america	PROPN
ftr-493	860	42	,	,	PUNCT
ftr-493	860	43	the	the	DET
ftr-493	860	44	tax	tax	NOUN
ftr-493	860	45	lawyer	lawyer	NOUN
ftr-493	860	46	is	be	AUX
ftr-493	860	47	continually	continually	ADV
ftr-493	860	48	required	require	VERB
ftr-493	860	49	to	to	PART
ftr-493	860	50	confront	confront	VERB
ftr-493	860	51	some	some	PRON
ftr-493	860	52	of	of	ADP
ftr-493	860	53	the	the	DET
ftr-493	860	54	most	most	ADV
ftr-493	860	55	basic	basic	ADJ
ftr-493	860	56	structural	structural	ADJ
ftr-493	860	57	issues	issue	NOUN
ftr-493	860	58	of	of	ADP
ftr-493	860	59	the	the	DET
ftr-493	860	60	tax	tax	NOUN
ftr-493	860	61	law	law	NOUN
ftr-493	860	62	.	.	PUNCT
ftr-493	861	1	[	[	X
ftr-493	861	2	vol	vol	NOUN
ftr-493	861	3	.	.	PUNCT
ftr-493	861	4	1:5	1:5	NUM