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For example, a $300,000 30 year mortgage with an interest rate of 6.5% could be split into 300 1000-dollar bonds. These bonds would have a 30-year amortization, and an interest rate of 6.00% for example (with the remaining 0.50% going to the servicing company to send out the monthly bills and perform servicing work).
Option-adjusted spread (OAS) is the yield spread which has to be added to a benchmark yield curve to discount a security's payments to match its market price, using a dynamic pricing model that accounts for embedded options. OAS is hence model-dependent.
[154] [155] Under Canadian legislation, for a country to be added to the visa waiver list there should be less than 3% immigration violations and visa refusal rate of less than 3% over 3 years. For Bulgarians the immigration violation rate was 4.4% in 2013 and the average 3 year visa refusal rate was 15.76%.
Visa requirements for Canadian citizens are administrative entry restrictions by the authorities of other states placed on citizens of Canada.. As of 2025, Canadian citizens had visa-free or visa on arrival access to 188 countries and territories, ranking the Canadian passport 7th in the world according to the Henley Passport Index. [1]
In finance, a credit spread, or net credit spread is an options strategy that involves a purchase of one option and a sale of another option in the same class and expiration but different strike prices. It is designed to make a profit when the spreads between the two options narrows.
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One of the most common reference rates to use as the basis for applying floating interest rates is the Secure Overnight Financing Rate, or SOFR. [2] The rate for such debt will usually be referred to as a spread or margin over the base rate: for example, a five-year loan may be priced at the six-month SOFR + 2.50%. At the end of each six-month ...
The CFA exams are notoriously difficult, with low pass rates. During the period 2010–2021, pass rates for Levels 1-3 ranged from 22-56%. [ 11 ] The CFA Level 1 examination in May 2021 and July 2021 made news headlines after plummeting to a record-low pass rate of 25% and 22%, respectively, [ 12 ] [ 13 ] [ 14 ] and in August 2021, the level 2 ...