Z-TRANCHE
A "Z-Tranche" is a distinct type of bond class used in CMO (collateralized mortgage obligation). It only receives principal payments or interest once all the other trenches have already been settled. In this bond class, the unpaid interest is accumulated and then added to the principal for interest calculation in the future.
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CVE
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An insurance that covers the costs involved in recalling possibly defective products made by the insured.
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