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Cash flows from a special purpose vehicle created from mortgage securitisation in the U.S. are generally allocated to tranches. As a general model, these could

Cash flows from a special purpose vehicle created from mortgage securitisation in the U.S. are generally allocated to tranches. As a general model, these could be termed senior tranche, mezzanine tranche and ________ tranche.

Select one:

a.

lower

b.

junior

c.

sub-prime

d.

equity

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