Weighted Average Maturity definition

Weighted Average Maturity means the average length of time to legal maturity or, if shorter, to the next interest rate reset to a money market rate, of all of the underlying assets in a Money Market Fund reflecting the relative holdings in each asset. It is used to measure the sensitivity of a Money Market Fund to changing money market interest rates;

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Weighted Average Maturity. (WAM) shall mean a measure of the average length of time to maturity of all of the underlying securities in the fund weighted to reflect the relative holdings in each instrument, assuming that the maturity of a floating rate instrument is the time remaining until the next interest rate reset to the money market rate, rather than the time remaining before the principal value of the security must be repaid. In practice, WAM is used to measure the sensitivity of a MMF to changing money market interest rates;

Examples of Weighted Average Maturity in a sentence

The calculation for Weighted Average Maturity by Reset will be based on Final Maturity for Fixed Rate Instruments or the Interest Reset date for Floating Rate Instruments.
The calculation for Weighted Average Maturity to Final will be based on Final Maturity for both Fixed and Floating Rate Instruments except in the case of Structured Products, which will use Expected Maturity.
The Remaining Weighted Average Maturity of the bonds to be advance refunded by the Bonds is years.
Agency shall be responsible for obtaining and maintaining any equipment and ancillary services needed to connect to, access or otherwise use the Services.
Money Market Fund ----------------- - Trial Balance - NAV Calculation Report with Daily Distribution Rate - Daily, 7-day and 30-day yield calculations - Cash Availability and 3-Day Cash Projection Reports - Dollar Weighted Average Maturity WEEKLY ACCOUNTING SERVICES -------------------------- If applicable, submit Money Market Fund ▇▇▇▇-to-Market Report and Interest and Amortization schedule to client (based on client or vendor supplied money market yields or prices).

More Definitions of Weighted Average Maturity

Weighted Average Maturity means the average length of time to legal maturity or, if shorter, to the

Weighted Average Maturity means, with respect to an issue of Securities, the weighted period of time required to repay half of the issue through scheduled principal payments (e.g., maturity, sinking fund redemption, etc.). The Weighted Average Maturity—which is variously referred to as the “WAM,” “average life,” and “weighted average life”—is a reflection of the rapidity with which the principal of an issue is expected to be paid. Under one commonly used calculation method, Weighted Average Maturity is equal to the total Bond years divided by the total number of Bonds (where one Bond has a $1,000 par amount, regardless of actual denomination).

Weighted Average Maturity means on any day, the number of days equal to (i) 30.0 times (ii) the average of the aggregate Outstanding Balances of Receivables on the two most recent Cut-Off Dates, divided by (iii) Newly Generated Receivables. For purposes of this definition, "Newly Generated Receivables" means, on any day, the amount equal to the sum of (i) the Outstanding Balance of Receivables billed during the month ending on the most recent Cut-Off Date, plus (ii) the difference between (A) the Outstanding Balance of Unbilled Receivables as of the most recent Cut-Off Date minus (B) the Outstanding Balance of Unbilled Receivables as of the second most recent Cut-Off Date.

Weighted Average Maturity means (A) the sum of the products, determined separately for each maturity or sinking fund payment date and taking into account any mandatory redemptions of the obligation, of (i) with respect to a serial obligation, the principal amount of each serial maturity of such obligation and the number of years to such maturity, or (ii) with respect to a term obligation, the dollar amount of each mandatory sinking fund payment with respect to such obligation and the number of years to such payment, divided by (B) the aggregate principal amount of such obligation.

Weighted Average Maturity means, with respect to Eligible Receivables to be sold by the Originator to the Borrower on a Credit Date, the date which corresponds to the Payment Date that is the number of Payment Dates (rounded to the nearest whole number) equal to the result of (a) the sum of all of the remaining monthly payments dates remaining on all such Eligible Receivables divided by (b) the number of such Eligible Receivables. See Appendix D hereto for an illustrative example.

Weighted Average Maturity means on any date as reported in the most recent Monthly Report with respect to any specified group of Purchased Claims, the weighted average of the maturities (determined by reference to the Scheduled Maturity Dates) of all such outstanding Purchased Claims in such group as of the last day of month covered by such report.

Weighted Average Maturity appearing in such Section:

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