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Sequential pay (See Chapter 21 of the Vernimmen)
A financial instrument with a "sequential pay" Amortisation schedule is one where the various tranches of securities issued are repaid sequentially (one after the other), as opposed to being repaid in parallel (for this example, we assume there is no acceleration event nor event of default).
Sequential pay (See Chapter 21 of the Vernimmen)
A financial instrument with a "sequential pay" Amortisation schedule is one where the various tranches of securities issued are repaid sequentially (one after the other), as opposed to being repaid in parallel (for this example, we assume there is no acceleration event nor event of default).
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