| 释义 |
cleanup call Cleanup CallAlso called a cleanup buyback, an option in securitization transactions in which the issuer may reduce its own administrative expenses by buying back the remaining issue when the principal has been reduced to an insignificant amount, usually to less than 10% of the original issue. This option is often exercised for mortgage-backed securities.cleanup call Early redemption of the entire balance of a debt issue when a relatively small amount of the original issue remains outstanding. For example, mortgage-backed securities are gradually paid down as mortgages backing the bonds are paid off by homeowners. At some point the issuer of the mortgage-backed securities may decide to reduce its own administrative expenses by calling the balance of the issue. |