It stands for first-loss credit default swap; a credit default swap (CDS) that protects its buyer (the long) from losses…

A type of first loss credit default swaps (FLCDS) or tranche loss credit default swaps (TLCDS) in which the reference asset…

A type of first loss credit default swaps (FLCDS) or tranche loss credit default swaps (TLCDS) in which the reference...

It stands for standardized tranche credit default swap; a type of first loss credit default swaps (FLCDS) or tranche loss...