PAC BOND is a planned amortization class collateralized mortgage obligation (CMO) that provides a set average life within a specified band of prepayment assumptions. PACs are considered the most stable CMO class in terms of average life variability.
BACK-TO-BACK TRADING allows securities dealers to trade and settle the same securities several times during the same settlement day without loss of value days.
HARD COPY is a printed copy of information as opposed to information stored in computer readable form.
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