The last tranche in a collateralized mortgage obligation (CMO). Periodic interest accrues on an accrual tranche but no cash payments...

A tranche that has some similarities to a zero-coupon bond. An accrual tranche (zero tranche) consists of Z bonds. By...

A tranche (specifically, a CMO tranche) that is designed to protect investors from prepayment risk. To that end, it absorbs...

The last tranche in a collateralized mortgage obligation (CMO). Periodic interest accrues on a Z-tranche but no cash payments will...