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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 ?
As a result, advanced process control is being quickly absorbed in various industries for optimizing operational techniques.
Advance process control market have several advantages such as reduction in power consumption, improved production capacity, improved monitoring of key performance indicators, reduction in process settle time, increase in process safety, better equipment reliability and improved operational understanding.
Statistical process control makes it possible not only to determine if reduced product quality has occurred but also to pinpoint the root cause in an efficient way in order to take action to rapidly bring back the process to normal conditions.
* BS 5702-2:2008--Guide to statistical process control (SPC) charts for variables--Part 2: Charts for individual values
A traditional CAPM program would only consolidate the valve and control data into performance metrics for the process control engineer to review.
Process control instrumentation can help recyclers deliver such a product to their flat roll mill customers.
Ural Electrochemical Integrated Plant (UEIP), Issaquah, Wash., the world's largest uranium enrichment enterprise and manufacturer of advanced process control technology for the nuclear industry, has integrated McObject's eXtremeDB in-memory database system and the QNX Neutrino RTOS within its process control systems and equipment.
These chapters deal with the most complex issues facing microarrays users: a) process control and quality assurance and b) data analysis and mining.
Besides being a key step in the strategic effort between Applied Materials and Nova to develop advanced process control for copper CMP, it also validates our approach to combining multi-channel spectrophotometry and image processing in one tool."
Syracuse, NY and Zurich, Switzerland 1/7/03 -- Inficon Holding AG has acquired New Visions Systems, a vacuum instrumentation and process control software company serving the semiconductor industry.
The real-time approach to the education of chemical engineers in the fundamentals of process control teaches the subject in the same way that it is practised in the chemical and processing industries.

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