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PAC
(redirected from Planned Amortization Class)

    Also found in: Dictionary/thesaurus, Financial, Acronyms, Encyclopedia, Wikipedia 0.01 sec.
PAC
abbr.
premature atrial contraction
PAC,
abbreviation for premature atrial complex.
PAC,
n See aspirin, phenacetin, caffeine.
PAC
1 Papular acrodermatitis of childhood–Gianotti-Crosti syndrome
2 Political action committee 3 Premature atrial contraction, see there
4. Pulmonary artery catheterization
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Common types of CMO tranches include: * Planned Amortization Class tranches establish a fixed principal payment schedule by using a PAC tranche and a companion tranche to smooth out the effects of prepayments, whether they are slower than expected or faster than expected.
Collateralized mortgage obligations: are they suitable for public ... by Larson, M. Corinne / Government Finance Review
Planned Amortization Class (PAC) Tranches PAC tranches use a mechanism similar to a "sinking fund" to establish a fixed principal payment schedule that directs cash-flow irregularities caused by faster- or slower-than-expected prepayments away from the PAC tranche and toward another "companion" or "support" tranche (see below).
US MBS market by Schillinger, Tamara / The Securitization Conduit
Expanding on the NAS structure, more recent deals have been structured to further insulate investors from prepayment risk by creating even more stable average-life planned amortization class (PAC) bonds.
More growth ahead by Flanagan, Chris; DiSerio, Ralph; Asato, Ryan / Mortgage Banking
 
 
 
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