In general, a community of interests for the purpose of carrying out joint measures or for direct business cooperation. – In the negative sense, a combination of persons or entities on the financial market for the purpose of influencing market prices in favor of the alliance (a combination of persons or groups for speculative or manipulative purposes on financial markets). – In the case of bets, the total amount of money from the deposits of individual participants (a fund holding all the money bet in a game of chance or on the outcome of an event). – In particular, in the case of credit risk transfer, also referred to as a basket of individual risks which a bank, then regularly called originator, combines to form a special asset, its own portfolio (package, bundle), in order to sell either only the risks or the portfolio as a whole to investors in tranches on the market via a special purpose vehicle or a conduit company. – A portfolio of life insurance contracts owned by an insurance company, especially said in connection with embedded value securitization. – In the sense of protection scheme, a compensation fund that secures deposits and liabilities of banks. – See asset-backed securities, credit default swap, financial betting, credit derivative, lottery, originate-to-distribute strategy, repatriation option, collateral obligation, single master liquidity conduit, straddle, securitization, securitization structure, special purpose vehicle.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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