YEN Definition

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YEN is the currency of Japan. Its subdivisions are 100 sen and 1000 rin.

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ACCOUNTING PERIOD is the time period for which accounts are prepared, usually one year.

PREPAYMENT RISK, in the area of mortgage-backed securities, which are backed by loans on property, is the possibility that home owners will payoff their mortgages early, returning the investor's principal earlier than expected. This typically occurs during a declining inter­est rate environment, when home owners can refinance at lower rates, leaving investors vulnerable to the risk of reinvestment at lower rates.

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