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Credit derivatives terminology

By Vinod Kothari

 

 

Equity: (1) Generically, ordinary share in the equity capital of a corporation.

        (2) In context of accounting standards, taxes, etc., usually refers to the residual economic interest in an enterprise, which includes legal equity.

            (3) In context of CDOs, refers to the junior-most, unrated liability of a CDO which bears the first-loss risk and is also entitled to all the residual income of the CDO.

 

 

 

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