Zero-bracket amount

The standard deduction portion of income which is not taxed for taxpayers choosing not to itemize deductions.

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Notional principal amount
In an interest rate swap, the predetermined dollar principal on which the exchanged interest payments are based.

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Overshooting

The tendency of a pool of MBSs to reflect an especially high rate or prepayments the first time it crosses the threshold for refinancing, especially if two or more years have passed since the date of issue without the WAC of the pool having crossed the refinancing threshold.


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