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- 2011-7-11
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2#
发表于 2011-7-13 16:56
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NAS tranche is a non-accelarating tranche.
it will have less contraction and less extension risk.
for the first 7 years - it will receive no prepayments. after that it will. so it has less contraction and extension risk.
NAS Tranche > Sequential tranche > Non-NAS tranche when it comes to stability of average life of the tranche.
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