accrual bondglossary / accrual bond A bond — usu. the last collateralized-mortgage-obligation issue — from which no principal or interest payment will be made until any bonds issued earlier have been fully paid. — Also termed Z-bond. 词条贡献者 资深译员王漾,毕业于一所旨在培养高级翻译专业人才的翻译院校,擅长翻译各类与雇主商业秘密相关的法律文件。