ABX Indices See First AAA Write-Down March 05, 2010

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--Olivia Thetgyi

The ABX.HE and the Penultimate ABX indices have seen their first implied write-downs at the AAA level. An implied write-down happens at the swap level when a security is undercollateralized but does not have a mechanism in its deal documents to write down at the cash level. The ...

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