• Payment of a financial obligation later than is expected or required, as in lead and lag. Also, the number of periods that an independent variable in a regression model is held back in order to predict the dependent variable.
| ||Embedded terms in definition|
| ||Referenced Terms|
| ||Lag response of prepayments: There is typically a Lag of about three months between the time the weighted average coupon of an MBS pool has crossed the threshold for refinancing and an acceleration in prepayment speed is observed.|
| ||When issued trades: Typically there is a Lag between the time a new bond is announced and sold and the time it is actuafly issued. During this interval, the security trades, wi, "when, as, and if issued."|
| ||Related Terms|
| ||Lag response of prepayments|
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