A classification of debt (whether in the form of loans, securities or similar items) that ranks below other classes of...

With respect to a series of bonds, a bond or debt security whose class is subordinated to other securities (of...

A tranche that is the first, in a securitized structure, to absorb the losses and is exposed to the highest...

A tranche (specifically, a Z-tranche) that may receive principal repayments before other tranches with specific precedence order, and even if...

A type of investment risk that arises from spikes in market volatility or substantial market swings, consequently affecting specific types...

A two-tranche liability position that consists of senior and subordinated securitized loans. In an junior/senior structured loan, the securitized loan (e.g.,...

A bond that is payable to several creditors, unconnected in interest or by judgment. In other words, such a bond...

A bond that is rated below investment grade (a rating of BB or lower) due to its bad credit quality....

A certificate of deposit (CD) that is issued by a bank or depository institution to institutional investors and other high-net-worth...

The process of raising funds by issuing unsecured low-grade, high-yield securities (junk notes, junk bonds, etc.). This is usual at...