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PAUG
PAUG ("Pay As You Go") refers to application of credit derivatives technology to structured finance products. It works very similar to a CDS with the reference entity being a structured finance products such as ABS, CMBS, RMBS etc. The trigger events in PAUG can be classified mainly as “Credit Events” and “Floating Rate Payment Events”. PAUG is a settlement methodology for CDS on ABS reference Entities. ==Credit Events in PAUG==
*Failure to Pay Principal – The Ref Ob fails to make scheduled principal payments. *Writedown – The Ref Ob writes down (decreases) its outstanding principal amount. *Distressed Ratings Downgrade – Distressed Ratings Downgrade is an optional credit event which is triggered when the reference obligation is downgraded to 'Caa2/CCC' or below, or the rating is withdrawn by one or more of the three rating agencies.
抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)』 ■ウィキペディアで「PAUG」の詳細全文を読む
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