PAC

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PAC (1)


PAC (2)

PAC Bond

A collateralized mortgage obligation that seeks to protect investors from prepayment risk. PACs do this by setting a schedule of payments; if prepayments of the underlying mortgages exceed a certain rate, the life of the PAC is shortened. If they fall below a certain rate, the life of the tranche is extended. This helps protect investors in case the holders of the underlying mortgages do not pay off their mortgages as expected.

PAC

References in classic literature ?
Then the only other creature who is allowed at the Pack Council--Baloo, the sleepy brown bear who teaches the wolf cubs the Law of the Jungle: old Baloo, who can come and go where he pleases because he eats only nuts and roots and honey--rose upon his hind quarters and grunted.
Let him run with the Pack, and be entered with the others.
Truly, a help in time of need; for none can hope to lead the Pack forever," said Bagheera.
He was thinking of the time that comes to every leader of every pack when his strength goes from him and he gets feebler and feebler, till at last he is killed by the wolves and a new leader comes up--to be killed in his turn.
And that is how Mowgli was entered into the Seeonee Wolf Pack for the price of a bull and on Baloo's good word.
He took his place at the Council Rock, too, when the Pack met, and there he discovered that if he stared hard at any wolf, the wolf would be forced to drop his eyes, and so he used to stare for fun.
Shere Khan was always crossing his path in the jungle, for as Akela grew older and feebler the lame tiger had come to be great friends with the younger wolves of the Pack, who followed him for scraps, a thing Akela would never have allowed if he had dared to push his authority to the proper bounds.
Mowgli would laugh and answer: "I have the Pack and I have thee; and Baloo, though he is so lazy, might strike a blow or two for my sake.
Baloo knows it; I know it; the Pack know it; and even the foolish, foolish deer know.
That damaged bit's turned your stomach now; I see it has," said Bob, wrapping the muslin up with the utmost quickness, and apparently about to fasten up his pack.
Here's a bit o' net, then, for you to look at before I tie up my pack, just for you to see what my trade's come to,--spotted and sprigged, you see, beautiful but yallow,--'s been lyin' by an' got the wrong color.
Now then, sir," continued Bob, shouldering his pack, "if you please, I'll be glad to go and see about makin' Mr.