cliff risk
n.— «CDOs-squared are often referred to as being subject to the so-called “cliff” risk, a phenomenon where the tranche gets wiped out quickly once losses reach it.» —“CDOs-Squared Demystified” by Nomura Securities International, Michiko Whetten, Mark Adelson Securitization.net Feb. 4, 2005. (source: Double-Tongued Dictionary)
Further reading
After our conversation about nighttime wakefulness, a Sacramento, California, woman shares the funny story behind the term she and her husband use for that phenomenon: squeegee. This is part of a complete episode.
Related
Ribbon fall. Gallery forest. You won’t find terms like these in most dictionaries, but they and hundreds like them are discussed by famous writers in the book Home Ground: A Guide to the American Landscape. The book is an intriguing collection...