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Dollar Roll |
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Dollar Roll A special type of repurchase agreement in which the security, transferred to the investor as collateral, is a mortgage-backed security. The investor who sells the security gives up the cash flows during the roll period, but has use of the proceeds. Notes: It's similar to a reverse repurchase agreement.Dollar roll Similar to the reverse repurchase agreement-a simultaneous agreement to sell a security held in a portfolio with purchase of a similar security at a future date at an agreed-upon price. |
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1)When the Fund establishes a segregated account in which it maintains cash and/or liquid securities equal in value to its obligations in respect of the mortgage dollar rolls, the mortgage dollar rolls will not be considered a borrowing or a "senior security" for purposes of the asset coverage requirements under the 1940 Act. 1)When the Fund establishes a segregated account in which it maintains cash and/or liquid securities equal in value to its obligations in respect of the mortgage dollar rolls, the mortgage dollar rolls will not be considered a borrowing or a "senior security" for purposes of the asset coverage requirements under the 1940 Act. The Fund may utilize other forms of leverage, including reverse repurchase agreements and dollar roll transactions. |
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Dollar Roll
