PROXIMO Definition

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PROXIMO (usually abbreviated to PROX) means of or in the following month.

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UNBUDGETED are items and/or amounts that are currently not included within a budget.

INTEREST ONLY (IO),in securities, is the interest only portion of a stripped mortgage-backed security. For IO securities, all of the interest distribution is due to the registered holder based on the current face value of the underlying mort­gage-backed security.

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