Financial Definition of Planned Amortization Class Cmo
Meaning of Planned Amortization Class Cmo
(1) One class of CMO that carries the most stable cash flows and the lowest prepayement risk of any class of CMO. Because of that stable cash flow, it is considered the least risky CMO. (2) A CMO bond class that stipulates cash-flow contributions to a sinking fund. With the PAC, principal payments are directed to the sinking fund on a priority basis in accordance with a predetermined payment schedule, with prior claim to the cash flows before other CMO classes. Similarly, cash flows received by…(more)
Related Entries of Planned Amortization Class Cmo in the Encyclopedia of Law Project
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Planned Amortization Class Cmo in Historical Law
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