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H. · 2020年11月09日

问一道题:NO.PZ2017012501000005

问题如下:

If a mortgage borrower makes prepayments without penalty to take advantage of falling interest rates, the lender will most likely experience:

选项:

A.

extension risk.

B.

contraction risk.

C.

yield maintenance.

解释:

B is correct.

Contraction risk is the risk that when interest rates decline, actual prepayments will be higher than forecasted. Extension risk is the risk that when interest rates rise, prepayments will be lower than forecasted. Yield maintenance results from prepayment penalties; the lender is protected from loss in yield by the imposition of prepayment penalties

请问C什么意思?在哪章哪节出现的?


1 个答案

吴昊_品职助教 · 2020年11月10日

同学你好:

参考基础班讲义P264页,在R45中。

yield maintainance是对于borrower提前偿还的惩罚,是对于lender的保护。