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Variance rule

• Specifies the permitted minimum or maximum quantity of securities that can be delivered to satisfy a TBA trade. For Ginnie Mae, Fannie Mae, and Feddie Mac pass-through securities, the accepted variance is plus or minus 2.499999 percent per million of the par value of the TBA quantity.

 
 Embedded terms in definition
 Ginnie mae
M or m
Par value
Par
Plus
Securities
Tba
Trade
Variance
 
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