# Junior tranche and junior tranche (first loss piece)

- Canonical URL: https://www.gerhardmerk.de/junior-tranche-and-junior-tranche-first-loss-piece
- Post ID: 588351
- Modified: 2023-07-25T21:02:06+00:00
- Language: en

## Definition

In addition to the equity tranche, another term for the first loss piece: in the case of a securitization, the first, subordinated and therefore, in accordance with the waterfall principle, first loss-absorbing (but also high interest-bearing) partial issue of an issue of financial instruments. - See tranche, securitization, securitization structure. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

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