Pool Backed Securities Deal

Definition

Pool Backed Securities Deal. The issue of a series of Pool Backed Security certificates. These are (at least in this context) securities issued backed by a pool of individual loans, mortgages or other individual loan products.

Issues and Challenges

This term makes the distinction, perhaps artificial, between deals backed by pools of individual debt (this term), and deals backed by pools of securities (collateralized deals). This structure of relations between kinds of deals may prove to be a little artificial, but it reflects the structure of relations between kinds of securities, arrived at in earlier SME reviews. That is, Pool Backed Security (which breaks down into ABS and MBS) has a pool of individual loan products (a sub type of which is mortgage loans). The terms reflect the fact that in common parlance the term "ABS" is taken to mean something which is explicitly NOT a MBS but can be any other type of loan or credit based security, hence the creation of the non standard term "Pool Backed Security". The naming of deals simply attempts to reflect that. Terms to be included in Deal (per PoC conversations): Underwriters Issuer Deal Number Series number Deal Value Different collateral pools that support the deal. Review existing terms and make sure all covered.

Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.