Certificate of Automobile Receivables

A derivative whose value is derived from the receivables on a car loan. This entitles the owner to a claim on the principal and interest payments on the particular car loans underpinning the security. The equivalent of the coupon on CARS is a percentage of the interest and principal paid on car loans. An obvious risk associated with CARS is the possibility that a substantial number of loans will default. See also: Credit risk, Mortgage-backed security.

单词	certificate of automobile receivables
释义	Certificate of Automobile Receivables Certificate of Automobile Receivables A derivative whose value is derived from the receivables on a car loan. This entitles the owner to a claim on the principal and interest payments on the particular car loans underpinning the security. The equivalent of the coupon on CARS is a percentage of the interest and principal paid on car loans. An obvious risk associated with CARS is the possibility that a substantial number of loans will default. See also: Credit risk, Mortgage-backed security.
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