Word: ordering
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...There are other credit enhancement techniques which securitzers have employed to improve the credit rating of ABS. Because individual AAA-rated loans are, by themselves, in the minority, in order to create AAA-rated ABS, a securitizer would bundle loans of different ratings and place those same loans into different investment classes, known as tranches. Although the individual loans that comprise the tranches remain disproportionately below AAA-rated, because of how tranches work, they will receive different credit ratings, some AAA-rated...
...techniques, tranches are rated differently because each one is paid sequentially, with interest and principal payments on the underlying loans first going to the senior most tranche and the last payments going to the most junior. Effectively, the tranches are, at least in part, rated differently based upon the order in which they receive payment from the underlying loans. In the event of default, the junior most tranche may receive less than their regular return because they are the last tranche to be paid. In order to compensate for the increased risk, the more junior the tranche is, the higher...
...disease at age 57. If everyone gets the test, the 10-year survival rate soars to 100%, but no one in fact lives a single day longer. As with Zocor, early CT scans and early detection may in fact make a difference in how long someone lives, but in order to determine how big that difference is, you need to peel back the numbers and look more closely at individual cases...
...before a computer in a small windowless room and took working-memory tests. For one test, I had to recite aloud a series of numbers that appeared on the screen. I was asked not only to remember the numbers but also to restate them in proper numerical order. So if I saw 4, then 3, then 1, then 8, I had to say, "One, three, four, eight." Each series of numbers also included a random letter, which I had to state at the end: "One, three, four, eight...
...volume.) What the new study suggests, though, is that providers often pass along the cost of treating the uninsured to their insured patients. Its analysis found that families pay, on average, as much as $1,100 extra and individuals $410 extra in health-care premiums each year in order to cover the cost of treatment to uninsured patients who cannot afford to pay their bills. That amounts to as much as 8% higher premiums due to the lack of universal health care in the U.S. "So many Americans think that universal coverage is for the uninsured," says Senator Sheldon Whitehouse...