A tranche (constituting a type of asset-backed security, ABS) that gives the investors more certain cash flows thanks to its...

It stands for planned amortization class tranche; a tranche (constituting a type of asset-backed security, ABS) that gives the investors...

A tranche-type bond that constitutes one of the two general parts (tranches) of a PAC-structured CMO (collateralized mortgage obligation), with...

Planned amortization class bond; a tranche of a collateralized mortgage obligation (CMO) that converts a long-term mortgage product with irregular...

A phenomenon that arises when a planned amortization class (PAC) schedule is not met even if prepayments on the collateral...