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CPY

It stands for conditional prepayment yield; a measure of prepayment speed in asset backed securities (ABS) and other specific structures/...

TAC

It stands for targeted amortization class; a type of bond class that has a schedule for repayment of principal which...

Targeted Amortization Class

A type of bond class that has a schedule for repayment of principal which is protected against contraction risk for...

PAC Bond

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