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PAC (1)

PAC (2)

Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
court system did not actively create PACs, legislation regulates PAC
contribute up to $5,000 to another PAC. (9) Moreover, an individual
'Before this M0F had submitted their responses, conclusion and PAC recommendation reports to Parliament in a written reply.
'Through this presentation meeting, PAC members have the opportunity to ask questions on every response given based on the connclusion or recommendation from this Committee's Report,' said Noraini.
Madam Botchway said the opening of new PACs was in fulfillment of President Nana Addo Dankwa Akufo-Addo's promise to extend passport services to the doorsteps of Ghanaians in all parts of the country.
She said the Ministry was also taking steps to secure office spaces from the regional coordinating councils in the Upper East, Upper West and Central regions, as well as the newly-created regions for the establishment of PACs in their respective capitals.
'Shehbaz transferred PAC chairmanship the same way the inherited property is transferred.
The PML-N had refused to nominate another member from the party to head the PAC, arguing that according to parliamentary tradition, the leader of the opposition should become chairman of this committee.
Senate race without disclosing its donors -- which turned out to be Democrat-aligned super PACs Senate Majority PAC and Priorities USA Action, as well as the League of Conservation Voters -- until after the election.
Earlier upon arrival, General Zubair Mahmood Hayat was welcomed by Air Marshal Ahmer Shahzad Legahri, Chairman PAC, Kamra.
The PAC contributions goal for 2017 was set at $150,000.