Planned financing program

Similar financial terms

Planned capital expenditure program
Capital expenditure program as outlined in the corporate financial plan.

Planned amortization class CMO
(a) One class of CMO that carries the most stable cash flows and the lowest prepayement risk of any class of CMO. Because of that stable cash flow, it is considered the least risky CMO. (b) A CMO bond class that stipulates cash-flow contributions to a sinking fund. With the PAC, principal payments are directed to the sinking fund on a priority basis in accordance with a predetermined payment schedule, with prior claim to the cash flows before other CMO classes. Similarly, cash flows received ...

Planned Amortization Class
A security which is structured to have a reasonable life expectancy provided the prepayment speeds stay within the defined ranges. The scheduled interest and principal payments tend to be more stable for these tranches relative to the other parts of the deal.

Threshold for refinancing
The point when the WAC of an MBS is at a level to induce homeowners to prepay the mortgage in order to refinance to a lower-rate mortgage, generally reached when the WAC of the MBS is 2% or more above currently available mortgage rates.

Project financing
A form of asset-based financing in which a firm finances a discrete set of assets on a standalone basis.

Production payment financing
A method of nonrecourse asset-based financing in which a specified percentage of revenue realized from the sale of the project's output is used to pay debt service.

Off-balance-sheet financing
Financing that is not shown as a liability in a company's balance sheet.

Net financing cost
Also called the cost of carry or, simply, carry, the difference between the cost of financing the purchase of an asset and the asset's cash yield. Positive carry means that the yield earned is greater than the financing cost; negative carry means that the financing cost exceeds the yield earned.

Multi-option financing facility
A syndicated confirmed credit line with attached options.

Back-to-back financing
An intercompany loan channeled through a bank.

Bridge financing
Interim financing of one sort or another used to solidify a position until more permanent financing is arranged.

Cost of lease financing
A lease's internal rate of return.

Zero-one integer programming
An analytical method that can be used to determine the solution to a capital rationing problem.

Tandem programs
Under Ginnie Mae, mortgage funds provided at below-market rates to residential mortgage buyers with FHA Section 203 and 235 loans and to developers of multifamily projects with Section 236 loans initially and later with Section 221(d)(4) loans.

Quadratic programming
Variant of linear programming whereby the equations are quadratic rather than linear.

Program trading
Trades based on signals from computer programs, usually entered directly from the trader's computer to the market's computer system and executed automatically.

Program trades
Also called basket trades, orders requiring the execution of trades in a large number of different stocks at as near the same time as possible.

Mathematical programming
An operations research technique that solves problems in which an optimal value is sought subject to specified constraints. Mathematical programming models include linear programming, quadratic programming, and dynamic programming.

Linear programming
Technique for finding the maximum value of some equation subject to stated linear constraints.

Affordability programs
Usually refers to special schemes set up and/or managed by utility companies which are designed to minimize the burden of utility costs for customers of limited means. These programs are usually targetted at specific classes of low-income residential consumers (e.g. unemployed or pensioners) and institutional customers (e.g. schools, non-profit organizations, hospitals and other essential public-sector services).

Benefits provided by these programs can include forgiveness of arrearage ...