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Payer

• Is a mortgage back securities term which refers to a tranche currently paying both interest and principal.

 
 Embedded terms in definition
 Interest
Mortgage
Principal
Securities
Tranche
 
 Referenced Terms
 Call swaption: A swaption in which the buyer has the right to enter into a swap as a fixed-rate Payer. The writer therefore becomes the fixed-rate receiver/floating rate payer.

 Collection float: The negative float that is created between the time when you deposit a check in your account and the time when funds are made available.The delay between the time when a Payer or customer deducts a payment from its checking account ledger and the time when the payee or vendor actually receives the funds in a spendable form.

 Float: The difference between the credits given by the Fed to banks' reserve accounts on checks being cleared through the Fed and the debits made to banks' reserve accounts on the same checks. Float is always positive, because in the clearing of a check, the credit sometimes precedes the debit. Float adds to the money supply.Funds that have been sent by the Payer but are not yet usable funds to the payee.The total number of outstanding shares available on the market.The number of shares that are actively tradable in the market, excluding shares that are held by officers and major stakeholders that have agreements not to sell until someone else is offered the stock.

 Payable through draft: A method of making payment that is used to maintain control over payments made on behalf of the firm by personnel in non central locations. The Payer's bank delivers the payable through draft to the payer, which must approve it and return it to the bank before payment can be received.A draft drawn on the Payer's checking account, payable to a given payee but not payable on demand; approval of the draft by the payer is required before the bank pays the draft.

 Payable through draft: A method of making payment that is used to maintain control over payments made on behalf of the firm by personnel in non central locations. The Payer's bank delivers the payable through draft to the payer, which must approve it and return it to the bank before payment can be received.A draft drawn on the Payer's checking account, payable to a given payee but not payable on demand; approval of the draft by the payer is required before the bank pays the draft.

 
 Related Terms
 Fixed rate payer
Floating rate payer

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