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The SPV sells 4 tranches of credit linked notes with a waterfall structure whereby: Tranche D absorbs the first 25% of losses on the portfolio, and is the most risky. Tranche C absorbs the next 25% of losses; Tranche B the next 25%; Tranche A the final 25%, is the least risky. Tranches A, B and C are sold to outside investors.
Typically, the junior tranches that face the greatest risk of experiencing a loss have to fund at closing. Until a credit event occurs, the proceeds provided by the funded tranches are often invested in high-quality, liquid assets or placed in a GIC (Guaranteed Investment Contract) account that offers a return that is a few basis points below ...
The problem to determine all positive integers such that the concatenation of and in base uses at most distinct characters for and fixed [citation needed] and many other problems in the coding theory are also the unsolved problems in mathematics.
source: Final Report of the National Commission on the Causes of the Financial and Economic Crisis in the United States, p.229, figure 11.4 Credit rating agencies came under scrutiny following the mortgage crisis for giving investment-grade, "money safe" ratings to securitized mortgages (in the form of securities known as mortgage-backed securities (MBS) and collateralized debt obligations ...
The list of reference securities making up a portfolio is one of the primary drivers of the investment outcome of a synthetic CDO. [2] Because the portfolio is not that of a corporate credit index like the CDX or iTraxx, the mean default probabilities of the reference securities, their distribution of default probabilities, their default correlations and the recovery amounts upon default can ...
The specific problem ... Last of third launches for the Space Development Agency's Transport Layer Tranche 2 (Tranche 2 Transport Layer C Mission). ... For example ...
The open-shop scheduling problem can be solved in polynomial time for instances that have only two workstations or only two jobs. It may also be solved in polynomial time when all nonzero processing times are equal: in this case the problem becomes equivalent to edge coloring a bipartite graph that has the jobs and workstations as its vertices, and that has an edge for every job-workstation ...
The dangling else is a problem in programming of parser generators in which an optional else clause in an if–then(–else) statement can make nested conditional statements ambiguous. Formally, the reference context-free grammar of the language is ambiguous , meaning there is more than one correct parse tree .