First loss position definition

First loss position means a securitisation position which is last in the order of payment and is accordingly the first to bear the loss if the credit quality of the securitised exposures deteriorates. The first-loss position carries a higher risk and a higher yield.
Sample 1

Examples of First loss position in a sentence

  • Structure of the SPVs. As noted above, the SPVs are limited to investing in CDFI loans (no less than 95% of total assets), Debt not to exceed 70% of total loans, and Net Worth not to be less than 10% of total loans.3. First loss position.

  • Class A in turn may be either picked by a weak bank or any other investors.Class A - CLN rated AAA issue size 80 Cr. Class B - CLN rated AA issue size 65 Cr. Class C - First loss position of 5 Cr. Benefits to Protection Buyer (HDFC Bank)⮚ Can reduce exposure/ concentration on the particular corporate / industrial sector to which bank is overexposed.⮚ Regulatory capital relief - The risk weighted exposure is reduced by the amount of funding received.

Related to First loss position

  • First Loss Tranche means the dollar amount of liability that the Assuming Bank will incur prior to the commencement of loss sharing, which is the sum of (i) the Assuming Bank’s asset premium (discount) bid, as reflected on the Assuming Bank’s bid form, plus (ii) the Assuming Bank’s Deposit premium bid, as reflected on the Assuming Bank’s bid form, plus (iii) the Equity Adjustment. The First Loss Tranche may be a positive or negative number.

  • Covered position means a position in which the employee must be a member of the retirement

  • Total Intrinsic Loss Estimate means the sum of the SF1-4 Intrinsic Loss Estimate in the Single Family Shared-Loss Agreement, and the Commercial Intrinsic Loss Estimate in the Commercial Shared-Loss Agreement, expressed in dollars.

  • Intrinsic Loss Estimate means total losses under the shared loss agreements in the amount of One hundred Sixty-eight million dollars ($168,000,000.00).

  • Cash Position means the Company’s level of cash and cash equivalents.

  • Permanent Position Any position which has required, or which will require the services of an incumbent without interruption, for an indefinite period.

  • SF1-4 Intrinsic Loss Estimate means total losses under this Single Family Shared-Loss Agreement in the amount of eighteen million dollars ($18,000,000.00).

  • Shielded position means the location within the radiographic exposure device or storage container which, by manufacturer's design, is the proper location for storage of the sealed source.

  • Queue Position means the priority assigned to an Interconnection Request, a Completed Application, or an Upgrade Request pursuant to applicable provisions of Tariff, Part VI.

  • Front position lamp means the lamp used to indicate the presence of the vehicle when viewed from the front;

  • PRE-2017 NET OPERATING LOSS CARRYFORWARD means any net operating loss incurred in a taxable year beginning before January 1, 2017, to the extent such loss was permitted, by a resolution or ordinance of the Municipality that was adopted by the Municipality before January 1, 2016, to be carried forward and utilized to offset income or net profit generated in such Municipality in future taxable years.(B) For the purpose of calculating municipal taxable income, any pre-2017 net operating loss carryforward may be carried forward to any taxable year, including taxable years beginning in 2017 or thereafter, for the number of taxable years provided in the resolution or ordinance or until fully utilized, whichever is earlier.

  • Cumulative Net Loss Test With respect to any Payment Date, a test that will be satisfied if the Cumulative Net Loss Percentage does not exceed the applicable percentage indicated below: Payment Date occurring in the period Percentage March 2017 to February 2018 0.10% March 2018 to February 2019 0.20% March 2019 to February 2020 0.30% March 2020 to February 2021 0.40% March 2021 to February 2022 0.50% March 2022 to February 2023 0.60% March 2023 to February 2024 0.70% March 2024 to February 2025 0.80% March 2025 to February 2026 0.90% March 2026 to February 2027 1.00% March 2027 to February 2028 1.10% March 2028 to February 2029 1.20% March 2029 and thereafter 1.30% Current Accrual Rate: With respect to each Payment Date and any Reference Obligation, the lesser of (i) the related current Accounting Net Yield; and (ii) the related current mortgage rate thereon (as adjusted for any modifications) minus 0.35%.

  • Matched Positions for CFD trading shall mean Long and Short Positions of the same Transaction Size opened on the Client Account for the same CFD.

  • Shared-Loss Quarter has the meaning provided in Section 2.1(a)(i) of this Commercial Shared-Loss Agreement.

  • Net Long Position means: such shares of Common Stock Beneficially Owned, directly or indirectly, that constitute such person’s net long position as defined in Rule 14e-4 under the Exchange Act mutatis mutandis, provided that “Net Long Position” shall not include any shares as to which such person does not have the right to vote or direct the vote; and the terms “person” or “persons” shall mean any individual, corporation (including not-for-profit), general or limited partnership, limited liability or unlimited liability company, joint venture, estate, trust, association, organization or other entity of any kind or nature.

  • Direct Loss means charges actually paid pursuant to this Agreement in respect of the period of the Delay. For the purposes of clause 13.4, the User's losses arising out of a Delay will be taken to include the amount of the relevant Direct Losses.

  • Operating Loss means a negative Operating Profit.

  • Shared-Loss Month means each calendar month between the Commencement Date and the last day of the month in which the tenth anniversary of the Commencement Date occurs, provided that, the first Shared-Loss Month shall begin on the Commencement Date and end on the last day of that month.

  • Packet Loss means the difference between the number of service frames transmitted at the ingress UNI and the total number of service frames received at the egress UNI. Packet Loss may also be referred to as Frame Loss.

  • Gross weight means the aggregate weight of a vehicle or combination of vehicles and the load

  • Data Loss Event means any event that results, or may result, in unauthorised access to Personal Data held by the Contractor under this Agreement, and/or actual or potential loss and/or destruction of Personal Data in breach of this Agreement, including any Personal Data Breach.

  • Negative means that a rating may be lowered

  • Portfolio Loss means the loss realized on either (i) a portfolio sale of Single Family Shared-Loss Loans in accordance with the terms of Article IV or (ii) the sale of a loan with the consent of the Receiver as provided in Section 2.7.

  • Ultimate Net Loss as used herein is defined as the sum or sums (including loss in excess of policy limits, extra contractual obligations and loss adjustment expense, as hereinafter defined) paid or payable by the Company in settlement of claims and in satisfaction of judgments rendered on account of such claims, after deduction of all salvage, all recoveries and all claims on inuring insurance or reinsurance, whether collectible or not. Nothing herein shall be construed to mean that losses under this Contract are not recoverable until the Company's ultimate net loss has been ascertained.

  • Earnings from Operations for any period means net earnings excluding gains and losses on sales of investments, extraordinary items and property valuation losses, as reflected in the financial statements of the Company and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.