easy · Asset-Backed Securities waterfalls
A 'Rapid Amortization' event in a Credit Card Master Trust is most commonly triggered by which of the following scenarios?
- The pool balance exceeding the total invested amount of all series.
- A single month where prepayments exceed 30.00% MPR.
- The three-month average excess spread falling below zero.
- The servicer being downgraded by one notch by a single rating agency.
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