Glossary of Terms


ABCP Asset-Backed Commercial Paper
ABS Asset-Backed Securities
ABS-SPC Asset-Backed Securities Special Purpose Company
AMC Asset Management Company
ASP Asset Securitisation Plan
ASPV Australian Special Purpose Vehicle
CBO Collateralised Bond Obligation
CDO Collateralised Dept Obligation
CDS Credit Default Swap
CFO Collateralised Fund Obligations
CLO Collateralised Loan Obligation
CMBS Commercial Mortgage-Backed Securities
CMN National Monetary Council
CMO Collateralised Mortgaged Obligations
CTA Corporate Tax Act
ECN Extendable Commercial Paper
FASB Financial Accounting Standards Board
FMV Fair Market Value
GAAP Generally Accepted Accounting Principles
GST Goods and Services Tax
IAS International Accounting Standards
IASB International Accounting Standards Board
IFRS International Financial Reporting Standard
IO Interest Only
IOF Tax on Financial Operation
IRR Internal Rate of Return
IRS Internal Revenue Service
LLC Limited Liability Companies
MBS Mortgage-Backed Securities
NDRC National Development & Reform Commission
NPC National Principal Contracts
NPL Non-Performing Loan
NRSRO Nationally Recognised Statistical Rating Organisation
PAC Planned Amortisation Certificate
PCOB Primary Collateralised Bond Obligation
PCCR Purchased Credit Card Relationships
PO Principal Only
QDI Qualifying Debt Instruments
QSPE Qualifying Special Purpose Entity
REIT Real Estate Investment Trust
REMIC Real Estate Mortgage Investment Conduits
RITC Reduced Input Tax Credit
RMBS Residential Mortgage-Backed Securities
SAFE State Administration of Foreign Exchange
SAS Special Accounting Standards for ABS – SPCs
SCBO Secondary Collateralised Bond Obligation
SPC Special Stock Corporation
SPE Special Purpose Entity
SPT Special Purpose Trust
SPUT Special Purpose Unit Trust
SPV Special Purpose Vehicle
TAC Targeted Amortisation Class Bonds
VIE Variable Interest Entities