It stands for first-loss piece or first-loss position; a tranche that comes with the lowest priority amongst the entire set...

A tranche that comes with the lowest priority amongst the entire set of tranches constituting a securitized structure (CMBS structure,...

A tranche that comes with the lowest priority amongst the entire set of tranches constituting a securitized structure (CMBS structure,...

It stands for first-loss piece or first-loss position; a tranche that comes with the lowest priority amongst the entire set...

A tranche that comes with the lowest priority amongst the entire set of tranches constituting a securitized structure (CMBS structure,...

A tranche that comes with the lowest priority amongst the entire set of tranches constituting a securitized structure (CMBS structure,...

A leveraged super senior tranche (LSS tranche) (a synthetic collateralized tranche) that is associated with a loss trigger. More specifically,...

A leveraged super senior note (LSS note) (a synthetic collateralized note) that is associated with a loss trigger. More specifically…

A layer of loss absorption in a collateralized debt obligation (CDO) or any similar structures that absorbs initial losses (it...

In general, it is a method to determine how the monthly interest and principal cash flows are allocated among all...