单词 | structured investment vehicle |
释义 | structured investment vehicle structured investment vehicle(SIV) An arbitrage fund that raises finance by selling asset-backed commercial paper (CP) and medium-term notes and invests predominantly in asset-backed securities (ABSs). The SIV makes its profit from the difference between the short-term rate paid to the holders of CP and the longer-term rate earned on the ABSs. By late 2008 all known SIVs had failed as a result of the global financial crisis. |
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