Asset-Backed Securities (ABS) are financial securities backed by income-producing assets such as credit card receivables, home equity loans, student loans, and auto loans.
Forward interest rate agreements (FRAs) are over-the-counter contracts between parties that specify an interest rate to be paid on an agreed date in the future.
A holding company depositary receipt (HOLDR) was a diversified investment product offered by Merrill Lynch that gave investors access to multiple shares in a particular industry or sector through a single holding.
Interest rate swaps are forward contracts in which one stream of future interest payments is exchanged for another based on a specified principal amount.