diff --git a/AboutFIBOProd-IncludingReferenceData.rdf b/AboutFIBOProd-IncludingReferenceData.rdf index 4b21a6d40..2c3ca4160 100644 --- a/AboutFIBOProd-IncludingReferenceData.rdf +++ b/AboutFIBOProd-IncludingReferenceData.rdf @@ -26,7 +26,7 @@ This ontology is provided for the convenience of FIBO users. It loads the latest FIBO production ontologies, including reference data but excluding examples, based on the contents of GitHub, rather than those that comprise a specific version, such as a quarterly release. By reference data we mean ISO currency codes and USPS individuals in FND, juridictions and governments in BE, regulatory agencies and related financial services entities as well as business centers and MIC codes in FBC, FpML interest rates in IND, CFI codes in SEC (incomplete but planned for extension in subsequent releases), and so forth. Note that metadata files and other 'load' files, such as the various domain-specific 'all' files, are intentionally excluded. 2018-03-31T18:00:00 https://opensource.org/licenses/MIT - 2023-09-12T18:00:00 + 2023-09-22T18:00:00 Copyright (c) 2013-2023 EDM Council, Inc. Copyright (c) 2013-2023 Object Management Group, Inc. https://spec.edmcouncil.org/fibo/ @@ -356,6 +356,7 @@ /////////////////////////////////////////////////////////////////////////////////////// --> + diff --git a/AboutFIBOProd-TBoxOnly.rdf b/AboutFIBOProd-TBoxOnly.rdf index d47bda02b..5349ce368 100644 --- a/AboutFIBOProd-TBoxOnly.rdf +++ b/AboutFIBOProd-TBoxOnly.rdf @@ -26,7 +26,7 @@ This ontology is provided for the convenience of FIBO users. It loads the latest FIBO production ontologies, excluding reference data and examples, based on the contents of GitHub, rather than those that comprise a specific version, such as a quarterly release. Note that metadata files and other 'load' files, such as the various domain-specific 'all' files, are intentionally excluded. 2018-03-31T18:00:00 https://opensource.org/licenses/MIT - 2023-09-12T18:00:00 + 2023-09-22T18:00:00 Copyright (c) 2013-2023 EDM Council, Inc. Copyright (c) 2013-2023 Object Management Group, Inc. https://spec.edmcouncil.org/fibo/ @@ -230,6 +230,7 @@ /////////////////////////////////////////////////////////////////////////////////////// --> + diff --git a/AboutFIBOProd.rdf b/AboutFIBOProd.rdf index b37ac65c8..8f77762da 100644 --- a/AboutFIBOProd.rdf +++ b/AboutFIBOProd.rdf @@ -26,7 +26,7 @@ This ontology is provided for the convenience of FIBO users. It loads all of the very latest FIBO production ontologies based on the contents of GitHub, rather than those that comprise a specific version, such as a quarterly release. Note that metadata files and other 'load' files, such as the various domain-specific 'all' files, are intentionally excluded. 2018-03-31T18:00:00 https://opensource.org/licenses/MIT - 2023-09-12T18:00:00 + 2023-09-22T18:00:00 Copyright (c) 2013-2023 EDM Council, Inc. Copyright (c) 2013-2023 Object Management Group, Inc. https://spec.edmcouncil.org/fibo/ @@ -268,6 +268,7 @@ /////////////////////////////////////////////////////////////////////////////////////// --> + diff --git a/SEC/AllSEC.rdf b/SEC/AllSEC.rdf index 6aa30f27d..459860b50 100644 --- a/SEC/AllSEC.rdf +++ b/SEC/AllSEC.rdf @@ -4,6 +4,7 @@ + @@ -31,6 +32,7 @@ xmlns:dct="http://purl.org/dc/terms/" xmlns:fibo-fnd-utl-av="https://spec.edmcouncil.org/fibo/ontology/FND/Utilities/AnnotationVocabulary/" xmlns:fibo-sec-all="https://spec.edmcouncil.org/fibo/ontology/SEC/AllSEC/" + xmlns:fibo-sec-dbt-abs="https://spec.edmcouncil.org/fibo/ontology/SEC/Debt/AssetBackedSecurities/" xmlns:fibo-sec-dbt-bnd="https://spec.edmcouncil.org/fibo/ontology/SEC/Debt/Bonds/" xmlns:fibo-sec-dbt-dbti="https://spec.edmcouncil.org/fibo/ontology/SEC/Debt/DebtInstruments/" xmlns:fibo-sec-dbt-ex="https://spec.edmcouncil.org/fibo/ontology/SEC/Debt/ExerciseConventions/" @@ -81,10 +83,11 @@ agnos.ai U.K. Ltd 2018-03-31T18:00:00 http://opensource.org/licenses/MIT - 2023-02-03T18:00:00 + 2023-09-22T18:00:00 EDMC Financial Industry Business Ontology (FIBO) Securities (SEC) Domain + @@ -102,7 +105,7 @@ - + Copyright (c) 2018-2023 EDM Council, Inc. Copyright (c) 2018-2023 Object Management Group, Inc. The 'all' ontology for SEC is provided for convenience for FIBO users. This ontology does not add new assertions, but imports most of the Production (Released) ontologies that comprise the FIBO Foundations (FND), Business Entities (BE), Financial Business and Commerce (FBC), Indices and Indicators (IND), and Securities (SEC) domains, excluding most individuals for governments and jurisdictions (aside from those used in depositary receipts), financial services, regulatory organizations and related registries, and reference individuals, as well as the LCC region-specific ontologies. diff --git a/SEC/Debt/AssetBackedSecurities.rdf b/SEC/Debt/AssetBackedSecurities.rdf index 6e80a1058..577dac78c 100644 --- a/SEC/Debt/AssetBackedSecurities.rdf +++ b/SEC/Debt/AssetBackedSecurities.rdf @@ -13,6 +13,7 @@ + @@ -41,6 +42,7 @@ xmlns:fibo-ind-ei-ei="https://spec.edmcouncil.org/fibo/ontology/IND/EconomicIndicators/EconomicIndicators/" xmlns:fibo-ind-ind-ind="https://spec.edmcouncil.org/fibo/ontology/IND/Indicators/Indicators/" xmlns:fibo-loan-spc-cns="https://spec.edmcouncil.org/fibo/ontology/LOAN/LoansSpecific/ConsumerLoans/" + xmlns:fibo-loan-spc-crd="https://spec.edmcouncil.org/fibo/ontology/LOAN/LoansSpecific/CardAccounts/" xmlns:fibo-loan-spc-stu="https://spec.edmcouncil.org/fibo/ontology/LOAN/LoansSpecific/StudentLoans/" xmlns:fibo-sec-dbt-abs="https://spec.edmcouncil.org/fibo/ontology/SEC/Debt/AssetBackedSecurities/" xmlns:fibo-sec-dbt-bnd="https://spec.edmcouncil.org/fibo/ontology/SEC/Debt/Bonds/" @@ -69,6 +71,7 @@ + @@ -79,9 +82,10 @@ - - + + Copyright (c) 2015-2023 EDM Council, Inc. + Copyright (c) 2023 Object Management Group, Inc. @@ -93,9 +97,9 @@ auto asset-backed security - asset-backed security issued by an auto finance company that is backed by an underlying pool of auto-related loans and/or leases + asset-backed security that is backed by an underlying pool of auto-related loans and/or leases https://content.naic.org/sites/default/files/capital-markets-primer-auto-abs.pdf - Auto asset-backed securities (auto ABS) are typically structured finance securities that are collateralized by auto loans or leases, such as those to prime (good credit standing) and subprime (poor credit standing) borrowers. Loans or leases are bundled into pools and transferred to a special-purpose entity (SPE), which, in turn, transfers the pool to a (bankruptcy remote) trust. Payments on the underlying auto loans and leases are pooled in the trust, and the funds are used to pay note investors their respective principal which, in turn, transfers the pool to a (bankruptcy remote) trust. Payments on the underlying auto loans and leases are pooled in the trust, and the funds are used to pay note investors their respective principal and interest when due. Any leftover funds - known as excess spread, or the net interest margin - are paid to the equity holder (usually the issuer, such as an auto finance company). + Auto asset-backed securities (auto ABS) are typically structured finance securities that are collateralized by auto loans or leases, such as those to prime (good credit standing) and subprime (poor credit standing) borrowers. Loans or leases are bundled into pools and transferred to a special-purpose entity (SPE), which, in turn, transfers the pool to a (bankruptcy remote) trust. Payments on the underlying auto loans and leases are pooled in the trust, and the funds are used to pay note investors their respective principal which, in turn, transfers the pool to a (bankruptcy remote) trust, i.e., one that protects the security from bankruptcy. Payments on the underlying auto loans and leases are pooled in the trust, and the funds are used to pay note investors their respective principal and interest when due. Any leftover funds - known as excess spread, or the net interest margin - are paid to the equity holder (usually the issuer, such as an auto finance company). If the credit risk of the pool has been decoupled from the institution via an SPV, then an auto asset-backed security is also a structured finance instrument. @@ -117,7 +121,7 @@ auto debt pool - debt pool of auto-related loans and/or leases + debt pool of loans and/or leases that are motor vehicle-related @@ -135,18 +139,6 @@ - - - - - - - - - - - - consumer asset-backed security structured finance securities collateralized by pools of auto loans and leases (auto ABS), credit card receivables (credit card ABS) or student loans (student loan ABS) https://content.naic.org/sites/default/files/capital-markets-primer-consumer-abs.pdf @@ -163,7 +155,7 @@ - + controlled amortization asset-backed security @@ -173,10 +165,18 @@ Revolving debt (primarily credit card receivables, but also HELOCs, trade receivables, dealer floor-plan loans and some leases) may be securitized using a controlled amortization structure. This is a method of providing investors with a relatively predictable repayment schedule, even though the underlying assets are nonamortizing. A risk inherent in this kind of ABS is an early amortization event. - - - controlled amortization structure - method of providing investors with a relatively predictable repayment schedule, even though the underlying assets are non-amortizing + + + + + + + + + credit card account pool + pool of credit card receivables associated with designated accounts + Federal Deposit Insurance Corporation (FDIC) Credit Card Securitization Manual, available at https://www.fdic.gov/regulations/examinations/credit_card_securitization/ch2.html + In a credit card securitization transaction only the receivables are sold, not the accounts that generate the receivables. The financial institution retains legal ownership of the credit card accounts and can continue to change the terms on the accounts. Accounts corresponding to securitized loans are typically referred to as the designated accounts (or sometimes trust accounts). The initial outstanding balances on the designated accounts are sold to the trust as are the rights to any new charges on the designated accounts. Subsequently, as cardholder purchase activity generates more receivables on the designated accounts, these new receivables are purchased by the trust from the originating institution/seller/transferor. The trust uses the monthly principal payments received from the cardholders to acquire these new charges or receivables. When the securitization is initially set up, the originating institution/seller adds sufficient receivables to support the principal balance of the certificates plus an additional amount (seller's interest) that serves to absorb fluctuations in the outstanding balance of the receivables. The originating institution/seller will make subsequent additions to the trust in order to keep the seller's interest at the required level. @@ -184,7 +184,7 @@ - + credit card asset-backed security @@ -193,14 +193,6 @@ Credit card securitizations currently represent the primary funding vehicle for unsecured revolving consumer credit. Similar to mortgage and other asset securitizations, the financial institution that originates the credit card receivables sells a group of these receivables to a trust. The trust then creates and sells certificates backed by the credit card receivables to investors, which are predominately institutional investors. Very few credit card ABS are marketed to retail customers, primarily due to the complex nature of the transactions and the need to continually monitor various performance indices on the underlying receivables. The underlying credit card receivables generate income to support the interest payments on the certificates. - - - credit card pool - pool of outstanding balances on designated accounts - Federal Deposit Insurance Corporation (FDIC) Credit Card Securitization Manual, available at https://www.fdic.gov/regulations/examinations/credit_card_securitization/ch2.html - In a credit card securitization transaction only the receivables are sold, not the accounts that generate the receivables. The financial institution retains legal ownership of the credit card accounts and can continue to change the terms on the accounts. Accounts corresponding to securitized loans are typically referred to as the designated accounts (or sometimes trust accounts). The initial outstanding balances on the designated accounts are sold to the trust as are the rights to any new charges on the designated accounts. Subsequently, as cardholder purchase activity generates more receivables on the designated accounts, these new receivables are purchased by the trust from the originating institution/seller/transferor. The trust uses the monthly principal payments received from the cardholders to acquire these new charges or receivables. When the securitization is initially set up, the originating institution/seller adds sufficient receivables to support the principal balance of the certificates plus an additional amount (seller's interest) that serves to absorb fluctuations in the outstanding balance of the receivables. The originating institution/seller will make subsequent additions to the trust in order to keep the seller's interest at the required level. - - @@ -209,12 +201,6 @@ - - - - - - fully amortizing asset-backed security asset-backed security based on a pool of debt instruments that returns principal to investors over the life of the security