EXTENSION RISK Definition

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EXTENSION RISK, with mortgage-backed securities, is the risk that rising interest rates will slow the prepayment of underlying mortgages and extend the maturity.

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ITEMIZED STATEMENT is a record or transmittal that details product or services rendered and the costs incurred and payments received.

ADVANCE CORPORATION TAX (ACT) is a UK Corporation tax, required under UK tax rules. It represents a minimum tax on companies that earn most of their profits overseas.

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