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GLOSSARY ABCP asset-backed commercial paper (short-term funding issued by OBSEs) ABS asset-backed securities (such as an MBS) ABX a source of price indices for MBS insurance via CDS AIG American International Group ARM adjustable-rate mortgage BCBS Basel Committee on Banking Supervision BHC bank holding company BIS Bank for International Settlements (located in Basel, Switzerland) CCF credit conversion factor CDO collateralized debt obligation (derivative that tranches pools of MBS) CDS credit-default swap (insurance against default) CFTC Commodities Futures Trading Commission Fannie Mae Federal National Mortgage Association FDIC Federal Deposit Insurance Corporation Fed Federal Reserve Bank FAS Financial Accounting Standards FASB Financial Accounting Standards Board Freddie Mac Federal Home Loan Mortgage Corporation GDP gross domestic product Ginnie Mae Government National Mortgage Association GLBA Gramm-Leach-Bliley Act GSE government-sponsored enterprise (e.g., Fannie Mae, Freddie Mac) HELOC home-equity lines of credit HUD Department of Housing and Urban Development IFRS International Financial Reporting Standards IMF International Monetary Fund IRB internal ratings-based option of Basel II LIBOR London Interbank Offered Rate LTCM Long-Term Capital Management x Glossary LTV loan-to-value ratio (of a mortgage) MTM mark-to-market (or ``fair value'') accounting MBS mortgage-backed security NRSRO Nationally Recognized Statistical Rating Organization OBSE off balance-sheet entity OCC Office of the Comptroller of the Currency OTS Office of Thrift Supervision OTTI other-than-temporarily impaired PLMBS private-label MBS SEC Securities and Exchange Commission SIV Structured Investment Vehicle S & P Standard & Poor's SPE special-purpose entity SPV special-purpose vehicle TARP Troubled Asset Relief Program TBTF too big to fail ...

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