It stands for tranche thickness loss multiple; in relation to a tranche and tranche thickness, it is the loss coverage...

In relation to a tranche and tranche thickness, it is the loss coverage multiple defined by dividing the tranche thickness...

A measure of how much of losses a tranche can absorb as part of the overall securitized structure. It is...

A tranche that has a big width. In other words, the the difference between its exhaustion percentage (detachment point) and...