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- UID
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- 298
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- 2011-5-25
- 最后登录
- 2012-9-12
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The PAC could receive an amount within the collar band, not necessarily at the bare minimum. If the PSA is 200, then the PSA is 200. Not arbitrarily 90 (the lower end of the band). If it faces extension risk, then the junior tranches eat the loss first and senior gets the bare minimum of the collar.
Maybe I'm not understanding your question, because it seems pretty straight forward to me. |
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发表于 2011-7-11 19:33
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