panghu
2022-06-14 09:40可以解釋一下每個(gè)選項(xiàng)的意思嗎, ABS是什么
所屬：FRM Part I > Valuation and Risk Models 視頻位置 相關(guān)試題
來(lái)源： 視頻位置 相關(guān)試題
1個(gè)回答
Cindy助教
2022-06-14 20:30
該回答已被題主采納
同學(xué)你好，ABS是資產(chǎn)支持證券，這個(gè)在第三門課程是學(xué)過(guò)的，以可以產(chǎn)生現(xiàn)金流的資產(chǎn)為支持，所發(fā)行的證券，就是ABS
The bond issued in the securitization will be B1/B+ rated because the department store chain is rated B1/B+
senior的評(píng)級(jí)可以評(píng)到投資級(jí)別，是會(huì)超過(guò)department store的本身級(jí)別的，所以A錯(cuò)
The asset-backed security (ABS) will have a senior tranche that is rated investment grade and whose face value is lower than the value of the receivables that were on the firm’s balance sheet.
為了確保降低違約風(fēng)險(xiǎn)，優(yōu)先級(jí)債券的發(fā)行規(guī)模小于支持債券的應(yīng)收賬款池。這樣超出的部分就可以用來(lái)吸收損失，所以B對(duì)。
The asset-backed security (ABS) will be over collateralized with the receivables that had been on the firm’s balance sheet and are now a liability of the special purpose entity (SPE).
ABS是department store賣給SPV的，進(jìn)了SPV的賬上以后，這個(gè)ABS可以持續(xù)性的為SPV產(chǎn)生現(xiàn)金流入，既然是現(xiàn)金流入，那就是資產(chǎn)了。負(fù)債的話是還錢給別人，不是自己收錢哦
The securitization will result in a bond with two tranches: one that is senior and receives a Ba3/BB- rate
D錯(cuò)的和A一樣，senior的評(píng)級(jí)可以評(píng)到投資級(jí)別的
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