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Interest Only Strip
(redirected from Interest-Only Strips)

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Interest Only Strip
A derivative security whose cash flow derives exclusively from interest payments on various debt securities. That is, the underlying asset of an interest-only strip is interest paid on debt securities, rather than the debt securities themselves. Many interest only strips are backed by mortgage interest, but some are also backed by Treasury securities and other debt securities. Interest-only strips are derived from bonds whose coupons are legally separated, or "stripped", from the bonds themselves.
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Mandia continued, "Unlike securitizations, whole loan sales are typically structured as a sale with servicing released and the Company does not retain interest-only strips.
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The final rule also imposes a "dollar-for-dollar" capital charge on residual interests and a concentration limit on credit-enhancing, interest-only strips, a subset of residual interests.
Interagency adoption of final rule on recourse obligations, direct ... by Federal Reserve Bulletin
Key to the plan is the transfer of more than $40 million in interest-only strips receivables from the thrift to the parent company, which is not regulated by FDIC.
THRIFT TO REORGANIZE ITS CASH FLOW by Daily News (Los Angeles, CA)
 
 
 
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